<SEC-DOCUMENT>0001144204-19-016636.txt : 20190328
<SEC-HEADER>0001144204-19-016636.hdr.sgml : 20190328
<ACCEPTANCE-DATETIME>20190328160826
ACCESSION NUMBER:		0001144204-19-016636
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		110
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190328
DATE AS OF CHANGE:		20190328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLOBUS MARITIME LTD
		CENTRAL INDEX KEY:			0001499780
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34985
		FILM NUMBER:		19712010

	BUSINESS ADDRESS:	
		STREET 1:		128 VOULIAGMENIS AVENUE 3RD FL
		STREET 2:		166 74 GLYFADA
		CITY:			ATHENS GREECE
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30 210 960 8300

	MAIL ADDRESS:	
		STREET 1:		128 VOULIAGMENIS AVENUE 3RD FL
		STREET 2:		166 74 GLYFADA
		CITY:			ATHENS GREECE
		STATE:			J3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>tv517220_20f.htm
<DESCRIPTION>FORM 20-F
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As filed with the Securities and Exchange Commission
on March 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 20-F</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 96%; font-size: 10pt"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE
    ACT OF 1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp; OR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 96%; font-size: 10pt"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
    1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in"><B>For the fiscal year ended December 31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">OR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="width: 96%; font-size: 10pt"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
    OF 1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">OR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="width: 96%; font-size: 10pt"><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Date of event requiring this shell company report ________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in"><B>For the transition period from ___________ to ___________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Commission file number 001-34985</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Globus Maritime Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of Registrant as Specified in its
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of Registrant&rsquo;s name into
English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Republic of the Marshall Islands</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Jurisdiction of Incorporation or Organization)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>128 Vouliagmenis Ave., 3rd Floor, 166 74
Glyfada, Athens, Greece</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Athanasios Feidakis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>128 Vouliagmenis Avenue, 3rd Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>166 74 Glyfada, Athens, Greece</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tel: +30 210 960 8300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Facsimile:</B> &nbsp; <B>+30 210 960 8359</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, Telephone, E-mail and/or Facsimile Number
and Address of Company Contact Person)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered or to be registered pursuant to Section 12(b)
of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 49%; text-align: center"><U>Title&nbsp;of&nbsp;Each&nbsp;Class</U></TD>
    <TD STYLE="vertical-align: top; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 49%; text-align: center"><U>Name&nbsp;of&nbsp;Each&nbsp;Exchange&nbsp;On&nbsp;Which&nbsp;Registered</U></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><B>Common&nbsp;Shares,&nbsp;par&nbsp;value&nbsp;$0.004&nbsp;per&nbsp;
    share</B></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><B>Nasdaq&nbsp;Capital&nbsp;Market</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered or to be registered pursuant to Section 12(g)
of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>None</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities for which there is a reporting obligation pursuant to
Section 15(d) of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>None</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate the number of outstanding shares of
each of the issuer&rsquo;s classes of capital or common stock as of the close of the period covered by the annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in"><B>As of December 31, 2018, there were 3,209,327 shares
of the registrant&rsquo;s Common Shares outstanding.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark if the registrant is
a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Wingdings">&uml;
</FONT>Yes <FONT STYLE="font-family: Wingdings">x</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If this report is an annual or transition report,
indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Wingdings">&uml;
</FONT>Yes <FONT STYLE="font-family: Wingdings">x</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Note &ndash; Checking the box above will not
relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their
obligations under those Sections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Wingdings">x</FONT>
Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark whether the registrant
has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit such files).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Wingdings">x
</FONT>Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, or a non-accelerated filer.&nbsp;&nbsp;See definition of &ldquo;accelerated
filer and large accelerated filer&rdquo; in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%">Large accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 28%">Accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 34%">Non-accelerated filer <FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5in; text-align: center">Emerging Growth Filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If an emerging growth company that prepares
its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards&dagger; provided pursuant to Section 13(a)
of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&dagger; The term &ldquo;new or revised financial
accounting standard&rdquo; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards
Codification after April 5, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark which basis of accounting
the registrant has used to prepare the financial statements included in this filling:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding-left: 0.5in">U.S.&nbsp;GAAP&nbsp; <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 47%">International Financial Reporting Standards as issued</TD>
    <TD STYLE="width: 27%">Other <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">by the International Accounting Standards Board <FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If &ldquo;Other&rdquo; has been checked in
response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.
<B>N/A</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Wingdings">&uml;</FONT>
Item 17&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="font-family: Wingdings">&uml;</FONT> Item 18</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If this is an annual report, indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp; <FONT STYLE="font-family: Wingdings">o
</FONT>Yes <FONT STYLE="font-family: Wingdings">x</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PAST FIVE YEARS)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark whether the registrant
has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent
to the distribution of securities under a plan confirmed by a court. <B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;
</FONT>Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT> No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><A HREF="#a_001">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_001">3</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="width: 10%"><A HREF="#a_002">PART I</A></TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003">Item 1.</A></TD>
    <TD><A HREF="#a_003">Identity of Directors, Senior Management and Advisers</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_003">5</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_004">Item 2.</A></TD>
    <TD><A HREF="#a_004">Offer Statistics and Expected Timetable</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_004">5</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_005">Item 3.</A></TD>
    <TD><A HREF="#a_005">Key Information</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_005">5</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_006">Item 4.</A></TD>
    <TD><A HREF="#a_006">Information on the Company</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_006">39</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_007">Item 4A.</A></TD>
    <TD><A HREF="#a_007">History and Development of the Company</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_007">59</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_008">Item 5.</A></TD>
    <TD><A HREF="#a_008">Operating and Financial Review and Prospects</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_008">59</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_009">Item 6.</A></TD>
    <TD><A HREF="#a_009">Directors, Senior Management and Employees</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_009">84</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_010">Item 7.</A></TD>
    <TD><A HREF="#a_010">Major Shareholders and Related Party Transactions</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_010">90</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_011">Item 8.</A></TD>
    <TD><A HREF="#a_011">Financial Information</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_011">93</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_012">Item 9.</A></TD>
    <TD><A HREF="#a_012">The Offer and Listing</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_012">95</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_013">Item 10.</A></TD>
    <TD><A HREF="#a_013">Additional Information</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_013">95</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_014">Item 11.</A></TD>
    <TD><A HREF="#a_014">Quantitative and Qualitative Disclosures About Market Risk</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_014">110</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_015">Item 12.</A></TD>
    <TD><A HREF="#a_015">Description of Securities Other than Equity Securities</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_015">111</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_016">PART II</A></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_017">Item 13.</A></TD>
    <TD><A HREF="#a_017">Defaults, Dividend Arrearages and Delinquencies</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_017">112</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_018">Item 14.</A></TD>
    <TD><A HREF="#a_018">Material Modifications to the Rights of Security Holders and Use of Proceeds</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_018">112</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_019">Item 15.</A></TD>
    <TD><A HREF="#a_019">Controls and Procedures</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_019">112</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_020">Item 16A.</A></TD>
    <TD><A HREF="#a_020">Audit Committee Financial Expert</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_020">113</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_021">Item 16B.</A></TD>
    <TD><A HREF="#a_021">Code of Ethics</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_021">113</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_022">Item 16C.</A></TD>
    <TD><A HREF="#a_022">Principal Accountant Fees and Services</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_022">114</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_023">Item 16D.</A></TD>
    <TD><A HREF="#a_023">Exemptions from the Listing Standards for Audit Committees</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_023">114</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_024">Item 16E.</A></TD>
    <TD><A HREF="#a_024">Purchases of Equity Securities by the Issuer and Affiliated Purchasers</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_024">114</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_025">Item 16F.</A></TD>
    <TD><A HREF="#a_025">Change in Registrant&rsquo;s Certifying Accountant</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_025">114</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_026">Item 16G.</A></TD>
    <TD><A HREF="#a_026">Corporate Governance</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_026">114</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_027">Item 16H.</A></TD>
    <TD><A HREF="#a_027">Mining Safety Disclosure</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_027">115</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_028">PART III</A></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_029">Item 17.</A></TD>
    <TD><A HREF="#a_029">Financial Statements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_029">115</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_030">Item 18.</A></TD>
    <TD><A HREF="#a_030">Financial Statements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_030">115</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_031">Item 19.</A></TD>
    <TD><A HREF="#a_031">Exhibits</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_031">115</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><A HREF="#fin_007">INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_007">F-1</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_001"></A><B>CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This annual report on Form 20-F contains forward-looking
statements and information within the meaning of U.S. securities laws, and Globus Maritime Limited desires to take advantage of
the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement
in connection with this safe harbor legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;Company,&rdquo; &ldquo;Globus,&rdquo;
&ldquo;Globus Maritime,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; and &ldquo;us&rdquo; refer to Globus Maritime Limited and its
subsidiaries, unless the context otherwise requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forward-looking statements provide our current
expectations or forecasts of future events. Forward-looking statements include statements about our expectations, beliefs, plans,
objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions.
Forward-looking statements and information can generally be identified by the use of forward-looking terminology or words, such
as &ldquo;anticipate,&rdquo; &ldquo;approximately,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;expect,&rdquo; &ldquo;forecast,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;ongoing,&rdquo; &ldquo;pending,&rdquo;
&ldquo;perceive,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;seeks,&rdquo;
&ldquo;should,&rdquo; &ldquo;views&rdquo; or similar words or phrases or variations thereon, or the negatives of those words or
phrases, or statements that events, conditions or results &ldquo;can,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;must,&rdquo;
&ldquo;would,&rdquo; &ldquo;could&rdquo; or &ldquo;should&rdquo; occur or be achieved and similar expressions in connection with
any discussion, expectation or projection of future operating or financial performance, costs, regulations, events or trends.
The absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements and information
are based on management&rsquo;s current expectations and assumptions, which are inherently subject to uncertainties, risks and
changes in circumstances that are difficult to predict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Without limiting the generality of the foregoing,
all statements in this annual report on Form 20-F concerning or relating to estimated and projected earnings, margins, costs,
expenses, expenditures, cash flows, growth rates, future financial results and liquidity are forward-looking statements. In addition,
we, through our senior management, from time to time may make forward-looking public statements concerning our expected future
operations and performance and other developments. Such forward-looking statements are necessarily estimates reflecting our best
judgment based upon current information and involve a number of risks and uncertainties. Other factors may affect the accuracy
of these forward-looking statements and our actual results may differ materially from the results anticipated in these forward-looking
statements. While it is impossible to identify all such factors, factors that could cause actual results to differ materially
from those estimated by us may include, but are not limited to, those factors and conditions described under &ldquo;Item 3.D.&nbsp;&nbsp;Risk
Factors&rdquo; as well as general conditions in the economy, dry bulk industry and capital markets. We undertake no obligation
to revise any forward-looking statement to reflect circumstances or events after the date of this annual report on Form 20-F or
to reflect the occurrence of unanticipated events or new information, other than any obligation to disclose material information
under applicable securities laws. Forward-looking statements appear in a number of places in this annual report on Form 20-F including,
without limitation, in the sections entitled &ldquo;Item 5.&nbsp;&nbsp;Operating and Financial Review and Prospects,&rdquo; &ldquo;Item
4.A.&nbsp;&nbsp;History and Development of the Company&rdquo; and &ldquo;Item 8.A.&nbsp;&nbsp;Consolidated Statements and Other
Financial Information&mdash;Dividend Policy.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Terms Used in this Annual Report on Form
20-F</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">References to our common shares are references
to Globus Maritime Limited&rsquo;s registered common shares, par value $0.004 per share, or, as applicable, the ordinary shares
of Globus Maritime Limited prior to our redomiciliation into the Marshall Islands on November 24, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">References to our Class B shares are references
to Globus Maritime Limited&rsquo;s registered Class B shares, par value $0.001 per share, none of which are currently outstanding.
We refer to both our common shares and Class B shares as our shares. References to our shareholders are references to the holders
of our common shares and Class B shares. References to our Series A Preferred Shares are references to our shares of Series A
preferred stock, par value $0.001 per share, none of which were outstanding on December 31, 2017 and 2018 as well as on the date
of this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On July 29, 2010, we effected
a four-for-one reverse split of our common shares. On October 20, 2016, we effected a four-for-one reverse stock split which reduced
the number of outstanding common shares from 10,510,741 to 2,627,674 shares (adjustments were made based on fractional shares).
On October 15, 2018, the Company effected a ten-for-one reverse stock split which reduced the number of outstanding common shares
from 32,065,077 to 3,206,495 shares (adjustments were made based on fractional shares). Unless otherwise noted, all historical
share numbers and per share amounts in this annual report on Form 20-F have been adjusted to give effect to these reverse splits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless otherwise indicated, all references
to &ldquo;dollars&rdquo; and &ldquo;$&rdquo; in this annual report on Form 20-F are to, and amounts are presented in, U.S. dollars.
References to our ships, our vessels or out fleet relates to the ships that we own, unless context otherwise requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Rounding</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain financial information has been rounded,
and, as a result, certain totals shown in this annual report on Form 20-F may not equal the arithmetic sum of the figures that
should otherwise aggregate to those totals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_002"></A><B>PART I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_003"></A><B>Item 1.&nbsp;&nbsp;Identity
of Directors, Senior Management and Advisers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_004"></A><B>Item 2.&nbsp;&nbsp;Offer
Statistics and Expected Timetable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_005"></A><B>Item 3.&nbsp;&nbsp;Key
Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>A.&nbsp;&nbsp;Selected
Financial Data</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following tables set forth our selected
consolidated financial and operating data. The summary consolidated financial data as of and for the years ended December 31,
2018, 2017, 2016, 2015 and 2014 are derived from our audited consolidated financial statements, which have been prepared in accordance
with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB.
The data set forth below should be read in conjunction with &ldquo;Item 5.&nbsp;&nbsp;Operating and Financial Review and Prospects&rdquo;
and our audited consolidated financial statements, related notes and other financial information included elsewhere in this annual
report on Form 20-F. Results of operations in any period are not necessarily indicative of results in any future period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center"><B>Year Ended December 31,</B></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center"><B>(Expressed in Thousands of U.S. Dollars, except per share data)</B></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2018</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2016</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2014</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Consolidated Statement of comprehensive (loss)/income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 45%; text-align: left"><FONT STYLE="font-size: 10pt">Voyage revenues<I>(1)</I></FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">17,354</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">13,852</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">8,423</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">12,252</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">25,691</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Management fee income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">278</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,354</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,883</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,701</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,252</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,691</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Voyage expenses<I>(1)</I></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,188</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,352</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(954</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,921</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,567</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Vessel operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,925</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,135</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,688</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,321</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,707</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,601</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,854</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,014</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,085</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,624</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Depreciation of drydocking costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,166</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(862</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,005</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,062</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(574</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Amortization of fair value of time charter attached to vessels</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(41</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(746</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,356</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,224</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,094</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,751</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,896</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Administrative expenses payable to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(528</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(514</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(351</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(465</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(522</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Share-based payments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(50</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(60</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(60</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">(Impairment loss)/Reversal of impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,144</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,240</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gain from sale of subsidiary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,257</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other (expenses)/income, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">83</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(30</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(110</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating (loss)/profit before financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,448</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,015</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,228</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29,708</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,234</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest expense and finance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,056</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,221</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,676</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,783</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,137</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loss on derivative financial instruments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(131</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Foreign exchange gains/(losses), net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">67</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(242</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">74</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">87</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">103</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total comprehensive (loss)/income for the year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,568</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(6,475</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(9,825</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(32,396</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,212</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Basic earnings/(loss) per share for the year<I>(2)</I></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.11</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.51</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37.73</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(126.22</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Diluted earnings/(loss) per share for the year<I>(2)</I></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.11</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.51</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37.73</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(126.22</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Weighted average number of common shares, basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,200,927</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,574,995</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,384</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">256,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">255,859</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Weighted average number of common shares, diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,200,927</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,574,995</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,384</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">256,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">255,859</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Dividends declared per common share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dividends declared per Series A Preferred Share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">174.65</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">113.88</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Adjusted (LBITDA)/EBITDA<I>(3)</I> (unaudited)</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,701</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,466</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,376</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,938</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(1) In respect of the election to apply
IFRS 15 fully retrospectively, prior year figures have been adjusted in order to present Voyage revenues net of address commissions.
Address commissions prior to the adoption of IFRS 15 were included in Voyage expenses.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(2) These figures reflect the 10-1 reverse
stock split which occurred in October 2018.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(3) Adjusted (LBITDA)/EBITDA represents
net earnings before interest and finance costs net, gains or losses from the change in fair value of derivative financial instruments,
foreign exchange gains or losses, income taxes, depreciation, depreciation of drydocking costs, amortization of fair value of
time charter attached to vessels, impairment and gains or losses from sale of vessels. Adjusted (LBITDA)/EBITDA does not represent
and should not be considered as an alternative to total comprehensive income/(loss) or cash generated from operations, as determined
by IFRS, and our calculation of Adjusted (LBITDA)/EBITDA may not be comparable to that reported by other companies. Adjusted (LBITDA)/EBITDA
is not a recognized measurement under IFRS.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Adjusted (LBITDA)/EBITDA is included herein
because it is a basis upon which we assess our financial performance and because we believe that it presents useful information
to investors regarding a company&rsquo;s ability to service and/or incur indebtedness and it is frequently used by securities
analysts, investors and other interested parties in the evaluation of companies in our industry.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Adjusted (LBITDA)/EBITDA has limitations
as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our results as reported
under IFRS. Some of these limitations are:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 91%; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Adjusted (LBITDA)/EBITDA does not reflect our
    cash expenditures or future requirements for capital expenditures or contractual commitments;</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 91%; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Adjusted (LBITDA)/EBITDA does not reflect the
    interest expense or the cash requirements necessary to service interest or principal payments on our debt;</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 91%; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Adjusted (LBITDA)/EBITDA does not reflect changes
    in or cash requirements for our working capital needs; and</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 91%; text-align: justify"><FONT STYLE="font-size: 10pt"><I>other companies in our industry may calculate
    Adjusted (LBITDA)/EBITDA differently than we do, limiting its usefulness as a comparative measure.</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Because of these limitations, Adjusted
(LBITDA)/EBITDA should not be considered a measure of discretionary cash available to us to invest in the growth of our business.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth a reconciliation
of Adjusted (LBITDA)/EBITDA (unaudited) to total comprehensive (loss)/income for the periods presented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center"><B>(Expressed&nbsp;in&nbsp;Thousands&nbsp;of&nbsp;U.S.&nbsp;Dollars)</B></TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 45%; font-weight: bold; text-align: left">Total comprehensive (loss)/income for the year</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold; text-align: right">(3,568</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold; text-align: right">(6,475</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold; text-align: right">(9,825</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold; text-align: right">(32,396</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold; text-align: right">3,212</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Interest and finance costs, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,056</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,218</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,671</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,775</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">(Gain)/loss on derivative financial instruments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Foreign exchange (gains)/losses, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(67</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(74</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(87</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(103</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,601</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,854</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,085</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,624</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Depreciation of drydocking costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,062</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">574</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amortization of fair value of time charter attached to vessels</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">746</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Reversal of (impairment loss) / impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,240</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Loss from disposal of subsidiary</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,257</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Adjusted (LBITDA)/EBITDA (unaudited)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,319</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,701</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(3,466</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(2,376</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,938</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center"><B>(Expressed&nbsp;in&nbsp;Thousands&nbsp;of&nbsp;U.S.&nbsp;Dollars)</B></TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Statements of financial position data</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 45%; text-align: justify">Total non-current assets</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">83,880</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">87,373</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">91,847</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">110,140</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">141,834</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total current assets (including &ldquo;Non-current assets classified as held for sale&rdquo;)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,794</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,697</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,235</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,674</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,603</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114,837</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">152,069</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Total equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,050</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,535</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,319</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Total non-current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,418</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,673</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,314</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,206</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,553</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,136</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,629</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,436</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Total equity and liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,674</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,603</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114,837</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">152,069</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Consolidated statements of cash flows data</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 45%; text-align: left">Net cash generated/(used in) from operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">3,851</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">631</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">(3,600</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">(60</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">9,521</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net cash (used in)/generated from investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(126</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(263</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">362</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,351</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net cash (used in)/generated from financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,435</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,225</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,396</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,369</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,333</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 45%; text-indent: -9pt; padding-left: 9pt">Ownership days(1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">1,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">1,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">1,908</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">2,380</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">2,555</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Available days(2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,513</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Operating days(3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,723</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,830</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,252</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Bareboat charter days(4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">365</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Fleet utilization(5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99.5</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Average number of vessels(6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Daily time charter equivalent (TCE) rate(7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,213</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,993</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(1) Ownership days are the aggregate number
of days in a period during which each vessel in our fleet has been owned by us.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(2) Available days are the number of our
ownership days less the aggregate number of days that our vessels are off-hire due to scheduled repairs or repairs under guarantee,
vessel upgrades or special surveys.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(3) Operating days are the number of available
days in a period less the aggregate number of days that the vessels are off-hire due to any reason, including unforeseen circumstances.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(4) Bareboat charter days are the aggregate
number of days in a period during which the vessels in our fleet are subject to a bareboat charter. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(5) We calculate fleet utilization by dividing
the number of our operating days during a period by the number of our available days during the period.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(6) Average number of vessels is measured
by the sum of the number of days each vessel was part of our fleet during a relevant period divided by the number of calendar
days in such period.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(7) Time Charter Equivalent (TCE) rates
are our revenue less net revenue from our bareboat charters less voyage expenses during a period divided by the number of our
available days during the period excluding bareboat charter days. TCE is a measure not in accordance with generally accepted accounting
principles, or GAAP. Please read &ldquo;Item 5.&nbsp;Operating and Financial Review and Prospects.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reflects the Voyage Revenues
to Daily Time Charter Equivalent Reconciliation for the periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center"><B>(Expressed&nbsp;in&nbsp;Thousands&nbsp;of&nbsp;U.S.&nbsp;Dollars, </B><BR>
    <B>except&nbsp;number&nbsp;of&nbsp;days&nbsp;and&nbsp;daily TCE&nbsp;rates)</B></TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 45%; text-align: left">Voyage revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">17,354</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">13,852</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">8,423</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">12,252</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">25,691</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Less: Voyage expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,352</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">954</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,567</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: bareboat charter net revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">304</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,006</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue excluding bareboat charter net revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,469</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,027</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,118</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Available days net of bareboat charter days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,314</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,148</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Daily TCE rate*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,213</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,993</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*The amounts are subject to rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>B. Capitalization
and Indebtedness</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>C.&nbsp;&nbsp;Reasons
for the Offer and Use of Proceeds</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>D.&nbsp;&nbsp;Risk
Factors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This annual report on Form 20-F contains
forward-looking statements and information within the meaning of U.S. securities laws that involve risks and uncertainties. Our
actual results may differ materially from the results discussed in the forward-looking statements and information. Factors that
may cause such a difference include those discussed below and elsewhere in this annual report on Form 20-F.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Some of the following risks relate principally
to the industry in which we operate and our business in general. Other risks relate principally to the securities market and ownership
of our common shares. The occurrence of any of the events described in this section could significantly and negatively affect
our business, financial condition, operating results, and ability to pay dividends or the trading price of our common shares.</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Risks relating to Our Industry</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The international dry bulk shipping
industry is cyclical and volatile. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The international seaborne transportation
industry is cyclical and has high volatility in charter rates, vessel values and profitability. Fluctuations in charter rates
result from changes in the supply and demand for vessel capacity and changes in the supply and demand for energy resources, commodities,
semi-finished and finished consumer and industrial products internationally carried at sea. Since the early part of 2009, rates
have been volatile, but gradually recovered from market lows with further improvements taking place in the first half of 2010,
before leveling out in the second half of 2010 and declining in 2011 throughout 2012. In 2013 rates remained volatile reaching
their lows in January 2013 and their highs in December 2013 while volatility continued during 2014 as well, with rates reaching
their highs during January 2014 and their lows during July 2014. In 2015, the decreasing trend in rates continued. In February
2016, the market reached a new all-time low and until the end of 2016 remained fairly depressed as compared to pre-2009 rates.
In 2017 rates increased, reaching a peak during the fourth quarter of 2017. In 2018 rates were relatively stable throughout the
year, although such rates reduced again at the beginning of 2019. Currently all of our vessels are chartered on short-term time
charters and on the spot market, and we are exposed therefore to changes in spot market and short-term charter rates for dry bulk
vessels and such changes affect our earnings and the value of our dry bulk vessels at any given time. The supply of and demand
for shipping capacity strongly influences freight rates. The factors affecting the supply and demand for vessels are outside of
our control, and the nature, timing and degree of changes in industry conditions are unpredictable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Factors that influence demand for vessel capacity
include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>port and canal congestion
                                         charges;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>general dry bulk shipping
                                         market conditions, including fluctuations in charterhire rates and vessel values and
                                         demand for and production of dry bulk products;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>global and regional
                                         economic and political conditions, including exchange rates, trade deals, and the rate
                                         and geographic distributions of economic growth;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>environmental and
                                         other regulatory developments;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the distance dry bulk
                                         cargoes are to be moved by sea; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>changes in seaborne
                                         and other transportation patterns.&#9;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Factors that influence the supply of vessel
capacity include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the size of the newbuilding
                                         orderbook;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the price of steel
                                         and vessel equipment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>technological advances
                                         in vessel design and capacity;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the number of newbuild
                                         deliveries, which among other factors relates to the ability of shipyards to deliver
                                         newbuilds by contracted delivery dates and the ability of purchasers to finance such
                                         newbuilds;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the scrapping rate
                                         of older vessels;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>port and canal congestion;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>the number of vessels
                                         that are in or out of service, including due to vessel casualties; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD>changes in environmental
                                         and other regulations that may limit the useful lives of vessels.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the prevailing and anticipated
freight rates, factors that affect the rate of newbuilding, scrapping and laying-up include newbuilding prices, secondhand vessel
values in relation to scrap prices, costs of bunkers and other operating costs, costs associated with classification society surveys,
normal maintenance costs, insurance coverage costs, the efficiency and age profile of the existing dry bulk fleet in the market,
and government and industry regulation of maritime transportation practices, particularly environmental protection laws and regulations.
These factors influencing the supply of and demand for shipping capacity are outside of our control, and we may not be able to
correctly assess the nature, timing and degree of changes in industry conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We anticipate that the future demand for our
dry bulk vessels and charter rates will be dependent upon continued economic growth in the world&rsquo;s economies, seasonal and
regional changes in demand and changes to the capacity of the global dry bulk vessel fleet and the sources and supply of dry bulk
cargo to be transported by sea. Adverse economic, political, social or other developments could negatively impact charter rates
and therefore have a material adverse effect on our business, results of operations and ability to pay dividends. We may also
decide that it makes economic sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but
those vessels will not be able to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The dry bulk vessel charter market remains
significantly below its high in 2008.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The revenues, earnings and profitability of
companies in our industry are affected by the charter rates that can be obtained in the market, which is volatile and has experienced
significant declines since its highs in the middle of 2008. The Baltic Dry Index, or the BDI, which is published daily by the
Baltic Exchange Limited, or the Baltic Exchange, a London-based membership organization that provides daily shipping market information
to the global investing community, is an average of selected ship brokers&rsquo; assessments of time charter rates paid by a customer
to hire a dry bulk vessel to transport dry bulk cargoes by sea. The BDI has long been viewed as the main benchmark to monitor
the movements of the dry bulk vessel charter market and the performance of the entire dry bulk shipping market. The BDI declined
from a high of 11,793 in May 2008 to a low of 663 in December 2008, which represents a decline of 94% within a single calendar
year. Since 2009, the BDI has remained fairly depressed compared to historical numbers. The BDI reached a new all-time low of
290 on February 10, 2016. In 2017 rates increased and the BDI went as high as 1,743 on December 12, 2017. In 2018 the BDI ranged
from 948 to 1,774. The BDI dropped to 595 on February 11, 2019, representing an over 50% decrease from the end of 2018 rates.
The dry bulk market remains volatile and significantly depressed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The decline and volatility in charter rates
in the dry bulk market also affects the value of our dry bulk vessels, which follows the trends of dry bulk charter rates, and
earnings on our charters, and similarly affects our cash flows, liquidity and compliance with the covenants contained in our loan
arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Global economic conditions may continue
to negatively impact the dry bulk shipping industry.</I></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the current global economy, operating businesses
have recently faced tightening credit, weakening demand for goods and services, weak international liquidity conditions, and declining
markets. This all negatively affects the dry bulk industry, us included.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The international shipping industry
and dry bulk market are highly competitive.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The shipping industry and dry bulk market
are capital intensive and highly fragmented with many charterers, owners and operators of vessels and are characterized by intense
competition. Competition arises primarily from other vessel owners, some of whom have substantially greater resources than we
do. The trend towards consolidation in the industry is creating an increasing number of global enterprises capable of competing
in multiple markets, which may result in a greater competitive threat to us. Our competitors may be better positioned to devote
greater resources to the development, promotion and employment of their businesses than we are. Competition for the transportation
of cargo by sea is intense and depends on customer relationships, operating expertise, professional reputation, price, location,
size, age, condition and the acceptability of the vessel and its operators to the charterers. Competition may increase in some
or all of our principal markets, including with the entry of new competitors, who may operate larger fleets through consolidations
or acquisitions and may be able to sustain lower charter rates and offer higher quality vessels than we are able to offer. We
may not be able to continue to compete successfully or effectively with our competitors and our competitive position may be eroded
in the future, which could have an adverse effect on our fleet utilization and, accordingly, business, financial condition, results
of operations and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Euro may not be stable and countries
may not be able to refinance their debts.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the credit crisis in Europe,
in particular in Greece, Cyprus, Italy, Ireland, Portugal and Spain, concerns persist regarding the debt burden of certain Eurozone
countries and their ability to meet future financial obligations and the overall stability of the Euro. Despite efforts by European
Council in establishing the European Financial Stability Facility and the European Stability Mechanism, and the work of central
bankers to renegotiate sovereign debt, concerns persist regarding the debt burden of Eurozone countries, their ability to meet
future financial obligations, and the overall stability of the Euro. As we earn revenue in United States Dollars, the strengthening
of the Euro (with which we pay some of our expenses) as compared to the United States Dollar could increase our expenses. An extended
period of adverse development in the outlook for European countries could reduce the overall demand for dry bulk cargoes and for
our services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>We are exposed
to political, social and macroeconomic risks relating to the United Kingdom&rsquo;s exit from the European Union.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On June 23, 2016,
the electorate in the United Kingdom voted in favor of leaving the European Union (commonly referred to as &ldquo;Brexit&rdquo;),
and the U.K. government invoked Article 50 of the Lisbon Treaty related to withdrawal on March 29, 2017. The withdrawal of the
United Kingdom from the European Union is expected to take effect on March 29, 2019. Under Article 50, the Treaty on the European
Union and the Treaty on the Functioning of the European Union cease to apply in the relevant state from the date of entry into
force of a withdrawal agreement or, failing that, two years after the notification of intention to withdraw, although this period
may be extended in certain circumstances.&nbsp;&nbsp;The United Kingdom and the European Union have not reached an agreement on
the future terms of the United Kingdom&rsquo;s relationship with the European Union. There is the potential that the United Kingdom
and the European Union may not agree to a withdrawal arrangement before the date the United Kingdom leaves the European Union.&nbsp;Regardless
of the eventual timing or terms of the United Kingdom&rsquo;s exit from the EU, the result of the 2016 referendum continues to
create significant political, regulatory and macroeconomic uncertainty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">There are a
number of areas of uncertainty in connection with the future of the United Kingdom and its relationship with the EU. The
negotiation of the United Kingdom&rsquo;s exit terms and related matters may take several years. Given this uncertainty and
the range of possible outcomes, it is not currently possible to determine the impact that the United Kingdom&rsquo;s
departure from the EU and/or any related matters may have on general economic conditions in the United Kingdom or the EU. The
exit of the United Kingdom (or any other country) from the EU or prolonged periods of uncertainty relating to any of these
possibilities could result in significant macroeconomic deterioration, including, but not limited to, further decreases in
global stock exchange indices, increased foreign exchange volatility, decreased GDP in the European Union or other markets in
which we operate, issues with cross-border trade, political and regulatory uncertainty and further sovereign credit
downgrades. In addition, there could be changes to tax regulation affecting the repatriation of dividends from other
countries, which may negatively affect us. Finally, Brexit is likely to lead to legal uncertainty in areas such as data
protection, taxation, and potentially divergent national laws and regulations as the UK determines which EU laws to replace
or replicate, including the GDPR. Any of these effects of Brexit, and others we cannot anticipate, could adversely affect our
business, results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The current state of the global financial
markets and current economic conditions may adversely impact the dry bulk shipping industry.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Global financial markets and economic conditions
have been, and continue to be, volatile. Recently, operating businesses in the global economy have faced tightening credit, weakening
demand for goods and services, deteriorating international liquidity conditions, and declining markets. There has been a general
decline in the willingness by banks and other financial institutions to extend credit, particularly in the shipping industry,
due to the historically volatile asset values of vessels. As the shipping industry is highly dependent on the availability of
credit to finance and expand operations, it has been negatively affected by this decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Also, as a result of concerns about the stability
of financial markets generally and the solvency of counterparties specifically, the cost of obtaining money from the credit markets
has increased as many lenders have increased interest rates, enacted tighter lending standards, refused to refinance existing
debt at all or on terms similar to current debt and reduced, and in some cases ceased, to provide funding to borrowers. Due to
these factors, we cannot be certain that financing will be available if needed and to the extent required, on acceptable terms.
If financing is not available when needed, or is available only on unfavorable terms, we may be unable to meet our obligations
as they come due or we may be unable to enhance our existing business, complete additional vessel acquisitions or otherwise take
advantage of business opportunities as they arise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the current global economic environment
persists or worsens, we may be negatively affected in the following ways:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">we
                                         may not be able to employ our vessels at charter rates as favorable to us as historical
                                         rates or operate our vessels profitably; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the
                                         market value of our vessels could decrease, which may cause us to recognize losses if
                                         any of our vessels are sold.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, lower demand for dry bulk cargoes
as well as diminished trade credit available for the delivery of such cargoes have led to decreased demand for dry bulk carriers,
creating downward pressure on charter rates and vessel values. The relatively weak global economic conditions have and may continue
to have a number of adverse consequences for dry bulk and other shipping sectors, including, among other things:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">low charter rates, particularly for vessels employed on short-term
    time charters or in the spot market;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">decreases in the market value of dry bulk vessels and limited
    secondhand market for the sale of vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">limited financing for vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">widespread loan covenant defaults; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">declaration of bankruptcy by certain vessel operators, vessel
    owners, shipyards and charterers.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The occurrence of any of the foregoing could
have a material adverse effect on our business, results of operations, cash flows and financial condition. We may also decide
that it makes economic sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those
vessels will not be able to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We depend on spot charters in volatile
shipping markets.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently charter all five vessels we own
on the spot charter market. The spot charter market is highly competitive and spot charter rates may fluctuate significantly based
upon available charters and the supply of and demand for seaborne shipping capacity. While our focus on the spot market may enable
us to benefit if industry conditions strengthen, we must consistently procure spot charter business. Conversely, such dependence
makes us vulnerable to declining market rates for spot charters and to the off-hire periods including ballast passages. Rates
within the spot charter market are subject to volatile fluctuations while longer-term time charters provide income at pre-determined
rates over more extended periods of time. There can be no assurance that we will be successful in keeping our vessels fully employed
in these short-term markets or that future spot rates will be sufficient to enable the vessels to be operated profitably. At current
spot charter rates, we don&rsquo;t believe that we will be operating profitably. A significant decrease in charter rates would
affect value and further adversely affect our profitability, cash flows and ability to pay dividends. We cannot give assurances
that future available spot charters will enable us to operate our vessels profitably.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also decide that it makes economic
sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those vessels will not be able
to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>An over-supply of dry bulk carrier capacity
may depress charter rates.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The market supply of dry bulk vessels has
been increasing as a result of the delivery of numerous newbuilding orders over the last few years. Newbuildings were delivered
in significant numbers starting at the beginning of 2006 and continued to be delivered through 2018, even though the fleet growth
percentage has substantially reduced during the last years. An oversupply of dry bulk vessel capacity, particularly during a period
of economic recession, may result in a reduction of charter hire rates. If we cannot enter into charters on acceptable terms,
we may have to secure charters on the spot market, where charter rates are more volatile and revenues are, therefore, less predictable,
or we may not be able to charter our vessels at all. In addition, a material increase in the net supply of dry bulk vessel capacity
without corresponding growth in dry bulk vessel demand could have a material adverse effect on our fleet utilization (including
ballast days) and our charter rates generally, and could, accordingly, materially adversely affect our business, financial condition,
results of operations and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also decide that it makes economic
sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those vessels will not be able
to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The market values of our vessels have
declined, and may decline further and have triggered certain financial covenants under our existing and potentially future loan
and credit facilities. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The market value of dry bulk vessels has generally
experienced high volatility, and is currently at a low value. The market prices for secondhand and newbuilding dry bulk vessels
in the recent past have declined from historically high levels to low levels within a short period of time. The market value of
our vessels may increase and decrease depending on a number of factors including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">prevailing level of charter rates;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">age of vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">general economic and market conditions affecting
    the shipping industry;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">competition from other shipping companies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">configurations, sizes and ages of vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">supply and demand for vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">other modes of transportation;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">cost of newbuildings;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">governmental or other regulations; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">technological advances.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our loan agreement with Macquarie Bank International
Limited, which we refer to as the Macquarie Loan Agreement, and our loan agreement with Hamburg Commercial Bank AG (formerly known
as HSH Nordbank AG), which we refer to as the Hamburg Commercial Loan Agreement, are secured by mortgages on our vessels, and
require us to maintain specified collateral coverage ratios and to satisfy financial covenants, including requirements based on
the market value of our vessels and our net worth. Since the middle of 2008, the prevailing conditions in the dry bulk charter
market coupled with the general difficulty in obtaining financing for vessel purchases have led to a significant decline in the
market values of our vessels. Furthermore, each of such loan agreements contains a cross-default provision that may be triggered
by a default under any of our other loans. Our Convertible Note (&ldquo;for details see Item 4.&nbsp;&nbsp;Information on the
Company&rdquo;) also contains a cross-default provision that is triggered upon a material default or an event of default under
an existing agreement which would or is likely to have a material adverse effect on the Company or any of its subsidiaries, individually
or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we did not satisfy
the covenants included in our loan agreement with Hamburg Commercial Bank AG, constituting an event of default. For a more detailed
discussion see Item 5.B Liquidity and Capital Resources&mdash;Indebtedness and Note 12 in the Consolidated Financial Statements
filed herewith. The Macquarie Loan Agreement contains a cross-default provision, which means that we are in default under the
Macquarie Loan Agreement, even though as of December 31, 2018 we were in compliance with all of our other obligations under the
Macquarie Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Further declines of market values of our vessels
may affect our ability to comply with various covenants and could also limit the amount of funds we are permitted to borrow under
our current or future loan arrangements. Being in breach with the financial and other covenants under any of the Macquarie or
the Hamburg Commercial Loan Agreement, our lenders could accelerate our indebtedness and foreclose on vessels in our fleet, which
would significantly impair our ability to continue to conduct our business. If our indebtedness were accelerated in full or in
part, it would be very difficult in the current financing environment for us to refinance our debt or obtain additional financing
and we could lose our vessels if our lenders foreclose upon their liens, which would adversely affect our business, financial
condition, ability to continue our business and pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For a more detailed discussion on our loan
covenants and cross-default provisions, see &ldquo;Item 5.B Liquidity and Capital Resources&mdash;Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we sell any vessel at a time when vessel
prices have fallen and before we have recorded an impairment adjustment to our consolidated financial statements, the sale price
may be agreed at a value lower than the vessel&rsquo;s depreciated book value as in our consolidated financial statements at that
time, resulting in a loss and a respective reduction in earnings. If the market values of our vessels decrease, such decrease
and its effects could have a material adverse effect on our business, financial condition, results of operations and ability to
pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If a determination is made that a vessel&rsquo;s
future useful life is limited or its future earnings capacity is reduced, it could result in an impairment of its value on our
consolidated financial statements that would result in a charge against our earnings and the reduction of our stockholders&rsquo;
equity. These impairment costs could be very substantial.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Public Company Accounting Oversight
Board inspection of our independent accounting firm could lead to findings in our auditors' reports and challenge the accuracy
of our published audited consolidated financial statements.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Auditors of U.S. public companies are required
by law to undergo periodic Public Company Accounting Oversight Board, or PCAOB, inspections that assess their compliance with
U.S. law and professional standards in connection with performance of audits of financial statements filed with the SEC. For several
years certain European Union countries, including Greece, did not permit the PCAOB to conduct inspections of accounting firms
established and operating in such European Union countries, even if they were part of major international firms. Accordingly,
unlike for most U.S. public companies, the PCAOB was prevented from evaluating our auditor's performance of audits and its quality
control procedures, and, unlike stockholders of most U.S. public companies, we and our shareholders were deprived of the possible
benefits of such inspections. During 2015, Greece agreed to allow the PCAOB to conduct inspections of accounting firms operating
in Greece. In the future, such PCAOB inspections could result in findings in our auditors' quality control procedures, question
the validity of the auditor's reports on our published consolidated financial statements and the effectiveness of our internal
control over financial reporting, and cast doubt upon the accuracy of our published audited consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our industry is subject to complex laws
and regulations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our operations are subject to numerous laws
and regulations in the form of international conventions and treaties, national, state and local laws and national and international
regulations in force in the jurisdictions in which our vessels operate or are registered, which can significantly affect the ownership
and operation of our vessels. These requirements include but are not limited to: U.S. Oil Pollution Act 1990, as amended, which
we refer to as OPA; International Convention for the Safety of Life at Sea, 1974, as amended, which we refer to as SOLAS; International
Convention on Load Lines, 1966; International Convention for the Prevention of Pollution from Ships, 1973, as amended by the 1978
Protocol, which we refer to as MARPOL; International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001, which
we refer to as the Bunker Convention; International Convention on Liability and Compensation for Damage in Connection with the
Carriage of Hazardous and Noxious Substances by Sea, 1996, as superseded by the 2010 Protocol, which we refer to as the HNS Convention;
International Convention on Civil Liability for Oil Pollution Damage of 1969, as amended by the 1992 Protocol and further amended
in 2000, which we refer to as the CLC; International Convention on the Establishment of an International Fund for Compensation
for Oil Pollution Damage, 1971, as amended, which we refer to as the Fund Convention; and Marine Transportation Security Act of
2002, which we refer to as the MTSA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Government regulation of vessels, particularly
in the area of environmental requirements, can be expected to become more stringent in the future and could require us to incur
significant capital expenditures on our vessels to keep them in compliance, or even to scrap or sell certain vessels altogether.
Compliance with such laws, regulations and standards, where applicable, may require installation of costly equipment or operational
changes and increased management costs and may affect the resale value or useful lives of our vessels. We may also incur additional
costs in order to comply with other existing and future regulatory obligations, including, but not limited to, costs relating
to air emissions, the management of ballast water, recycling of vessels, maintenance and inspection, elimination of tin-based
paint, development and implementation of safety and emergency procedures and insurance coverage or other financial assurance of
our ability to address pollution incidents. For instance, the International Maritime Organization confirmed in October 2016 that
a global 0.5% sulphur cap on marine fuels will come into force on January 1, 2020, as stipulated in 2008 amendments to Annex VI
to the International Convention for the Prevention of Pollution from ships (&ldquo;MARPOL&rdquo;). Our vessels will thereafter
require pricier low-sulphur fuel, which may reduce the amount charterers are willing to pay to charter our vessels. These and
other costs could have a material adverse effect on our business, results of operations, cash flows and financial condition and
our ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These requirements can also affect the resale
prices or useful lives of our vessels or require reductions in capacity, vessel modifications or operational changes or restrictions.
Failure to comply with these requirements could lead to decreased availability of or more costly insurance coverage for environmental
matters or result in the denial of access to certain jurisdictional waters or ports, or detention in certain ports. Under local,
national and foreign laws, as well as international treaties and conventions, we could incur material liabilities, including cleanup
obligations and claims for impairment of the environment, personal injury and property damages in the event that there is a release
of petroleum or other hazardous materials from our vessels or otherwise in connection with our operations. Violations of, or liabilities
under, environmental regulations can result in substantial penalties, fines and other sanctions, including, in certain instances,
seizure or detention of our vessels. Events of this nature would have a material adverse effect on our business, financial condition
and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The operation of our vessels is affected by
the requirements set forth in the International Management Code for the Safe Operation of Ships and for Pollution Prevention,
or ISM Code. The ISM Code requires the party with operational control of the vessel to develop, implement and maintain an extensive
&ldquo;Safety Management System&rdquo; that includes, among other things, the adoption of a safety and environmental protection
policy setting forth instructions and procedures for safe vessel operation and protection of the environment and describing procedures
for dealing with emergencies. Further details in relation to the ISM Code are set out below in the section headed &ldquo;Environmental
and Other Regulations&rdquo;. The failure of a shipowner or bareboat charterer to comply with the ISM Code may subject it to increased
liability, and, if the implementing legislation so provides, to criminal sanctions, may invalidate or result in the loss of existing
insurance or decrease available insurance coverage for the affected vessels and may result in a denial of access to, or detention
in, certain ports. In addition, if we fail to maintain ISM Code certification for our vessels, we may also breach covenants in
certain of our credit and loan facilities that require that our vessels be ISM-Code certified. If we breach such covenants due
to failure to maintain ISM Code certification and are unable to remedy the relevant breach, our lenders could accelerate our indebtedness
and foreclose on the vessels in our fleet securing those credit and loan facilities. As of the date of this annual report on Form
20-F, each of our vessels is ISM Code-certified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Climate change
and greenhouse gas restrictions may be imposed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to concern over the risk of climate change,
a number of countries and the International Maritime Organization, or IMO, have adopted, or are considering the adoption of, regulatory
frameworks to reduce greenhouse gas emissions. These regulatory measures may include, among others, adoption of cap and trade
regimes, carbon taxes, increased efficiency standards and incentives or mandates for renewable energy. For instance, the International
Maritime Organization confirmed in October 2016 that a global 0.5% sulphur cap on marine fuels will come into force on January
1, 2020, as stipulated in 2008 amendments to Annex VI to the International Convention for the Prevention of Pollution from ships
(&ldquo;MARPOL&rdquo;). Our vessels will thereafter require pricier low-sulphur fuel, which may reduce the amount charterers are
willing to pay to charter our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We discuss this further in this annual report--see
&ldquo;Business Overview&mdash;Environmental and Other Regulations&mdash;Regulations to Prevent Pollution from Ships&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, although the emissions of greenhouse
gases from international shipping currently are not subject to the Kyoto Protocol to the United Nations Framework Convention on
Climate Change, which required adopting countries to implement national programs to reduce emissions of certain gases, a new treaty
may be adopted in the future that includes restrictions on shipping emissions. Compliance with changes in laws, regulations and
obligations relating to climate change could increase our costs related to operating and maintaining our vessels and require us
to install new emission controls, acquire allowances or pay taxes related to our greenhouse gas emissions, or administer and manage
a greenhouse gas emissions program. Revenue generation and strategic growth opportunities may also be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Charterers have been placed under significant
financial pressure, thereby increasing our charter counterparty risk.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The continuing weakness in demand for dry
bulk shipping services and any future declines in such demand could result in financial challenges faced by our charterers and
may increase the likelihood of one or more of our charterers being unable or unwilling to pay us contracted charter rates. We
expect to generate most or all of our revenues from these charters and if our charterers fail to meet their obligations to us,
we will sustain significant losses which could have a material adverse effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Capital expenditures and other costs
necessary to operate and maintain our vessels may increase.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Changes in safety or other equipment standards,
as well as compliance with standards imposed by maritime self-regulatory organizations and customer requirements or competition,
may require us to make additional expenditures. In order to satisfy these requirements, we may, from time to time, be required
to take our vessels out of service for extended periods of time, with corresponding losses of revenues. In the future, market
conditions may not justify these expenditures or enable us to operate some or all of our vessels profitably during the remainder
of their economic lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Seasonal fluctuations in industry demand
could affect us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We operate our vessels in markets that have
historically exhibited seasonal variations in demand and, as a result, in charter rates. This seasonality may result in quarter-to-quarter
volatility in our results of operations, which could affect the amount of dividends, if any, that we pay to our shareholders.
The market for marine dry bulk transportation services is typically stronger in the fall and winter months in anticipation of
increased consumption of coal and other raw materials in the northern hemisphere during the winter months. In addition, unpredictable
weather patterns in these months tend to disrupt vessel scheduling and supplies of certain commodities. This seasonality could
have a material adverse effect on our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also decide that it makes economic
sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those vessels will not be able
to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our insurance may not be adequate to
cover our losses that may result from our operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We carry insurance to protect us against most
of the accident-related risks involved in the conduct of our business, including marine hull and machinery insurance, war risk
insurance, protection and indemnity insurance, which includes pollution risks, crew insurance and war risk insurance. However,
we may not be adequately insured to cover losses from our operational risks, which could have a material adverse effect on us.
Additionally, our insurers may refuse to pay particular claims and our insurance may be voidable by the insurers if we take, or
fail to take, certain action, such as failing to maintain certification of our vessels with applicable maritime regulatory organizations.
Any significant uninsured or underinsured loss or liability could have a material adverse effect on our business, results of operations,
cash flows and financial condition and our ability to pay dividends. It may also result in protracted legal litigation. In addition,
we may not be able to obtain adequate insurance coverage at reasonable rates in the future during adverse insurance market conditions.
We maintain, for each of our vessels, pollution liability coverage insurance for $1.0 billion per event. If damages from a catastrophic
spill exceed our insurance coverage, it would have a materially adverse effect on our business, results of operations and financial
condition and our ability to pay dividends to our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Moreover, insurers have over the last few
years increased premiums and reduced or restricted coverage for losses caused by terrorist acts generally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, we do not currently carry and
may not carry loss-of-hire insurance, which covers the loss of revenue during extended vessel off-hire periods, such as those
that occur during an unscheduled drydocking due to damage to the vessel from accidents. Accordingly, any loss of a vessel or extended
vessel off-hire, due to an accident or otherwise, could have a material adverse effect on our business, results of operations,
financial condition and our ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our vessels are exposed to operational
risks.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The operation of any vessel includes risks
such as weather conditions, mechanical failure, collision, fire, contact with floating objects, cargo or property loss or damage
and business interruption due to political circumstances in countries, piracy, terrorist attacks, armed hostilities and labor
strikes. Such occurrences could result in death or injury to persons, loss, damage or destruction of property or environmental
damage, delays in the delivery of cargo, loss of revenues from or termination of charter contracts, governmental fines, penalties
or restrictions on conducting business, higher insurance rates and damage to our reputation and customer relationships generally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the past, political conflicts have also
resulted in attacks on vessels, mining of waterways and other efforts to disrupt international shipping, particularly in the Arabian
Gulf region. Acts of terrorism and piracy have also affected vessels trading in regions such as the South China Sea, the Gulf
of Aden and parts of the Indian Ocean and West Africa. Continuing conflicts and recent developments in the Middle East and North
Africa, including Egypt, Syria, Iran, Iraq and Libya, and the presence of United States and other armed forces in the Middle East
and Asia could produce armed conflict or be the target of terrorist attacks, and lead to civil disturbance and uncertainty in
financial markets. If these attacks and other disruptions result in areas where our vessels are deployed being characterized by
insurers as &ldquo;war risk&rdquo; zones or Joint War Committee &ldquo;war, strikes, terrorism and related perils&rdquo; listed
areas, premiums payable for such coverage could increase significantly and such insurance coverage may be more difficult or impossible
to obtain. In addition, there is always the possibility of a marine disaster, including oil spills and other environmental damage.
Although our vessels carry a relatively small amount of oil used for fuel (&ldquo;bunkers&rdquo;), a spill of oil from one of
our vessels or losses as a result of fire or explosion could be catastrophic under certain circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may not be adequately insured against all
risks, and our insurers may not pay particular claims. With respect to war risks insurance, which we usually obtain for certain
of our vessels making port calls in designated war zone areas, such insurance may not be obtained prior to one of our vessels
entering into an actual war zone, which could result in that vessel not being insured. Even if our insurance coverage is adequate
to cover our losses, we may not be able to timely obtain a replacement vessel in the event of a loss. Under the terms of our credit
facilities, we will be subject to restrictions on the use of any proceeds we may receive from claims under our insurance policies.
Furthermore, in the future, we may not be able to maintain or obtain adequate insurance coverage at reasonable rates for our fleet.
We may also be subject to calls, or premiums, in amounts based not only on our own claim records but also the claim records of
all other members of the protection and indemnity associations through which we receive indemnity insurance coverage for tort
liability. Our insurance policies also contain deductibles, limitations and exclusions which may increase our costs in the event
of a claim or decrease any recovery in the event of a loss. If the damages from a catastrophic oil spill or other marine disaster
exceeded our insurance coverage, the payment of those damages could have a material adverse effect on our business and could possibly
result in our insolvency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In general, we do not carry loss of hire insurance.
Occasionally, we may decide to carry loss of hire insurance when our vessels are trading in areas where a history of piracy has
been reported. Loss of hire insurance covers the loss of revenue during extended vessel off-hire periods, such as those that occur
during an unscheduled drydocking or unscheduled repairs due to damage to the vessel. Accordingly, any loss of a vessel or any
extended period of vessel off- hire, due to an accident or otherwise, could have a material adverse effect on our business, financial
condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also decide that it makes economic
sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those vessels will not be able
to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be subject to funding calls by
our protection and indemnity clubs, and our clubs may not have enough resources to cover claims made against them.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are indemnified for legal liabilities incurred
while operating our vessels through membership of protection and indemnity, or P&amp;I, associations, otherwise known as P&amp;I
clubs. P&amp;I clubs are mutual insurance clubs whose members must contribute to cover losses sustained by other club members.
The objective of a P&amp;I club is to provide mutual insurance based on the aggregate tonnage of a member&rsquo;s vessels entered
into the club. Claims are paid through the aggregate premiums of all members of the club, although members remain subject to calls
for additional funds if the aggregate premiums are insufficient to cover claims submitted to the club. Claims submitted to the
club may include those incurred by members of the club, as well as claims submitted by other P&amp;I clubs with which our club
has entered into interclub agreements. We cannot assure you that the P&amp;I club to which we belong will remain viable or that
we will not become subject to additional funding calls, which could adversely affect us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If our vessels suffer damage, they may need
to be repaired at a drydocking facility. The costs of drydocking repairs are unpredictable and may be substantial. We may have
to pay drydocking costs that our insurance does not cover in full. The loss of earnings while these vessels are being repaired
and repositioned, as well as the actual cost of these repairs, would decrease our earnings. In addition, space at drydocking facilities
is sometimes limited and not all drydocking facilities are conveniently located. We may be unable to find space at a suitable
drydocking facility or our vessels may be forced to travel to a drydocking facility that is not conveniently located to our vessels&rsquo;
positions. The loss of earnings while these vessels are forced to wait for space or to travel to more distant drydocking facilities
would decrease our earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be subject to increased inspection
procedures, tighter import and export controls and new security regulations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">International shipping is subject to various
security and customs inspection and related procedures in countries of origin and destination and trans-shipment points. Inspection
procedures can result in the seizure of the cargo and contents of our vessels, delays in the loading, offloading or delivery and
the levying of customs duties, fines or other penalties against us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">It is possible that changes to inspection
procedures could impose additional financial and legal obligations on us. Furthermore, changes to inspection procedures could
also impose additional costs and obligations on our customers and may, in certain cases, render the shipment of certain types
of cargo impractical. Any such changes or developments may have a material adverse effect on our business, financial condition,
results of operations and our ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Rising fuel prices may adversely affect
our profits.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fuel is a significant, if not the largest,
expense if vessels are under voyage charter or if consumed during ballast days. Moreover, the cost of fuel will affect the profit
we can earn on the spot market. Upon redelivery of vessels at the end of a time charter, we may be obliged to repurchase the fuel
on board at prevailing market prices, which could be materially higher than fuel prices at the inception of the time charter period.
As a result, an increase in the price of fuel may adversely affect our profitability. The price and supply of fuel is unpredictable
and fluctuates based on events outside our control, including geopolitical events, supply and demand for oil and gas, actions
by the Organization of the Petroleum Exporting Countries and other oil and gas producers, war and unrest in oil producing countries
and regions, regional production patterns and environmental concerns. Further, fuel may become much more expensive in the future,
which may reduce the profitability and competitiveness of our business versus other forms of transportation, such as truck or
rail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A global 0.5% sulphur cap on marine fuels
is expected to come into force on January 1, 2020. Because we do not have scrubbers on our vessels, our vessels will thereafter
require pricier low-sulphur fuel, which may reduce the amount charterers are willing to pay to charter our vessels. This could
have a material adverse effect on our business, results of operations, cash flows and financial condition and our ability to pay
dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Increases in crew costs may adversely
affect our profits.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Crew costs are a significant expense for us
under our charters. There is a limited supply of well-qualified crew. We generally bear crewing costs under our charters. Increases
in crew costs may adversely affect our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The operation of dry bulk vessels has
certain unique operational risks.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The operation of certain vessel types, such
as dry bulk vessels, has certain unique risks. With a dry bulk vessel, the cargo itself and its interaction with the vessel can
be a risk factor. By their nature, dry bulk cargoes are often heavy, dense, easily shifted and react badly to water exposure.
In addition, dry bulk vessels are often subjected to battering during unloading operations with grabs, jackhammers (to pry encrusted
cargoes out of the hold) and small bulldozers. This may cause damage to the vessel. Vessels damaged due to treatment during unloading
procedures may be more susceptible to breach while at sea. Hull breaches in dry bulk vessels may lead to the flooding of the vessels
holds. If a dry bulk vessel suffers flooding in its forward holds, the bulk cargo may become so dense and waterlogged that its
pressure may buckle the vessels bulkheads leading to the loss of a vessel. If we are unable to adequately maintain our vessels
we may be unable to prevent these events. Any of these circumstances or events could negatively impact our business, financial
condition, results of operations and ability to pay dividends. In addition, the loss of any of our vessels could harm our reputation
as a safe and reliable vessel owner and operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Maritime claimants could arrest our
vessels.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Crew members, suppliers of goods and services
to a vessel, shippers of cargo and other parties may be entitled to a maritime lien against a vessel, or other assets of the relevant
vessel-owning company, for unsatisfied debts, claims or damages even if we are not at fault, for example, if we pay a supplier
for bunkers who subcontracts the supply and does not pay such subcontractor. In many jurisdictions, a claimant may seek to obtain
security for its claim by arresting a vessel through foreclosure proceedings. The arrest or attachment of one or more of our vessels,
could cause us to default on a charter, breach covenants in the Macquarie Loan Agreement, or the Hamburg Commercial Loan Agreement,
interrupt our cash flow and require us to pay large sums of money to have the arrest or attachment lifted. Please see &ldquo;Item
5.B. Liquidity and Capital Resources&mdash;Indebtedness&rdquo; for further information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, in some jurisdictions, such as
South Africa, under the &ldquo;sister ship&rdquo; theory of liability, a claimant may arrest both the vessel which is subject
to the claimant&rsquo;s maritime lien and any &ldquo;associated&rdquo; vessel, which is any vessel owned or controlled by the
same owner. Claimants could attempt to assert &ldquo;sister ship&rdquo; liability against one vessel in our fleet for claims relating
to another of our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Governments could requisition our vessels
during a period of war or emergency.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A government could requisition one or more
of our vessels for title or for hire. Requisition for title occurs when a government takes control of a vessel and becomes the
owner. Requisition for hire occurs when a government takes control of a vessel and effectively becomes the charterer at dictated
charter rates. Generally, requisitions occur during a period of war or emergency, although governments may elect to requisition
vessels in other circumstances. Even if we would be entitled to compensation in the event of a requisition of one or more of our
vessels, the amount and timing of payment would be uncertain. Government requisition of one or more of our vessels may negatively
impact our business, financial condition, results of operations and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The ongoing uncertainty related to the
Greek sovereign debt crisis&nbsp;may adversely affect our operating results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Greece&nbsp;has experienced a macroeconomic
downturn during recent years, including as a result of the sovereign debt crisis and the related austerity measures implemented
by the Greek government. Our operations in Greece may be subjected to new regulations or regulatory action that may require us
to incur new or additional compliance or other administrative costs and may require that we pay to the Greek government new taxes
or other fees. We also face the risk that strikes, work stoppages, civil unrest and violence within Greece may disrupt our shore-side
operations located in Greece. The Greek government&rsquo;s taxation authorities have increased their scrutinization of individuals
and companies to secure tax law compliance.&nbsp;If economic and financial market conditions remain uncertain, persist or deteriorate
further, the Greek government may impose further changes to tax and other laws to which may be subject or change the ways they
are enforced, which may adversely affect our business, compliance costs, operating results, and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Compliance with safety and other vessel
requirements imposed by classification societies may be costly.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The hull and machinery of every commercial
vessel must be certified as safe and seaworthy in accordance with applicable rules and regulations, and accordingly vessels must
undergo regular surveys. All of the vessels that we operate or manage are classed by one of the major classification societies,
including Nippon Kaiji Kyokai (Class NK), DNV GL and Bureau Veritas. Vessels must undergo annual surveys, immediate surveys and
special surveys. In lieu of a special survey, a vessel&rsquo;s machinery may be on a continuous survey cycle, under which the
machinery would be surveyed over a five-year period. Our vessels are on special survey cycles for hull inspection and continuous
survey cycles for machinery inspection. Every vessel is also required to be drydocked every two to three years for inspection
of its underwater parts. If any vessel does not maintain its class and/or fails any annual, intermediate or special survey, certain
covenants in the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement may be triggered, including as a result of
the vessel being unable to trade between ports and being unemployable . Such an occurrence could have a material adverse impact
on our business, financial condition, results of operations and ability to pay dividends. Please see &ldquo;Item 5.B. Liquidity
and Capital Resources&mdash;Indebtedness&rdquo; for further information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A further economic slowdown or changes
in the economic, regulatory and political environment in the Asia Pacific region could reduce dry bulk trade demand.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A significant number of the port calls made
by our vessels involve the transportation of dry bulk products to ports in the Asia Pacific region. As a result, continued economic
slowdown in the region or changes in the regulatory environment, and particularly in China or Japan, could have an adverse effect
on our business, results of operations, cash flows and financial condition. Before the global economic financial crisis that began
in 2008, China had one of the world&rsquo;s fastest growing economies in terms of gross domestic product, or GDP, which had a
significant impact on shipping demand. The growth rate of China&rsquo;s GDP continues to remain lower than originally anticipated.
In addition, China previously imposed measures to restrain lending, which may further contribute to a slowdown in its economic
growth. China and other countries in the Asia Pacific region may continue to experience slowed or even negative economic growth
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Many of the economic and political reforms
adopted by the Chinese government are unprecedented or experimental and may be subject to revision, change or abolition based
upon the outcome of such experiments. If the Chinese government does not continue to pursue a policy of economic reform, the level
of imports of exports of dry bulk products to and from China could be adversely affected by changes to these economic reforms
by the Chinese government, as well as by changes in political, economic and social conditions or other relevant policies of the
Chinese government, such as changes in laws, regulations or restrictions on importing commodities into the country. Notwithstanding
economic reform, the Chinese government may adopt policies that favor domestic shipping companies and may hinder our ability to
compete with them effectively. Moreover, a significant or protracted slowdown in the economies of the United States, the European
Union or various Asian countries or changes in the regulatory environment may adversely affect economic growth in China and elsewhere.
Our business, results of operations, cash flows and financial condition could be materially and adversely affected by an economic
downturn or changes in the regulatory environment in any of these countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We conduct a substantial amount of business
in China.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Chinese legal system is based on written
statutes and their legal interpretation by the Standing Committee of the National People&rsquo;s Congress. Prior court decisions
may be cited for reference but have limited precedential value. Since 1979, the Chinese government has been developing a comprehensive
system of commercial laws, and considerable progress has been made in introducing laws and regulations dealing with economic matters
such as foreign investment, corporate organization and governance, commerce, taxation and trade. However, because these laws and
regulations are relatively new, there is a general lack of internal guidelines or authoritative interpretive guidance and because
of the limited number of published cases and their non-binding nature interpretation and enforcement of these laws and regulations
involve uncertainties. We conduct a substantial portion of our business in China or with Chinese counter parties. For example,
we enter into charters with Chinese customers, which charters may be subject to new regulations in China. We may, therefore, be
required to incur new or additional compliance or other administrative costs, and pay new taxes or other fees to the Chinese government.
Changes in laws and regulations, including with regards to tax matters, and their implementation by local authorities could affect
our vessels that are either chartered to Chinese customers or that call to Chinese ports and could have a material adverse effect
on our business, results of operations and financial condition and our ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Chinese economy differs from the economies
of western countries in such respects as structure, government involvement, level of development, growth rate, capital reinvestment,
allocation of resources, bank regulation, currency and monetary policy, rate of inflation and balance of payments position. Although
state-owned enterprises still account for a substantial portion of the Chinese industrial output, in general, the Chinese government
is reducing the level of direct control that it exercises over the economy. There is an increasing level of freedom and autonomy
in areas such as allocation of resources, production, pricing and management and a gradual shift in emphasis to a &ldquo;market
economy&rdquo; and enterprise reform, although it still acts with greater control than a truly free-market economy. Many of the
Chinese government&rsquo;s reforms are unprecedented or experimental and may be subject to revision, change or abolition based
upon the outcome of such experiments. The level of imports to and exports from China could be adversely affected by the failure
to continue market reforms or changes to existing pro-export economic policies. The level of imports to and exports from China
may also be adversely affected by changes in political, economic and social conditions (including a slowing of economic growth)
or other relevant policies of the Chinese government, such as changes in laws, regulations or export and import restrictions,
internal political instability, changes in currency policies, changes in trade policies and territorial or trade disputes. A decrease
in the level of imports to and exports from China could adversely affect our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If economic conditions throughout the
world do not improve, it will impede our operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Negative trends in the global economy that
emerged in 2008 continue to adversely affect global economic conditions. In addition, the world economy continues to face a number
of new challenges, including uncertainty related to the winding down of the U.S. Federal Reserve&rsquo;s bond buying program and
declining global growth rates. These challenges also include continuing turmoil and hostilities in the Middle East, Ukraine, North
Africa, the Middle East, and other geographic areas and countries and continuing economic weakness in the European Union. An extended
period of deterioration in the outlook for the world economy could increase our bunker prices and lessen overall demand for our
services. Such changes could adversely affect our results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We face risks attendant to changes in economic
environments, changes in interest rates and instability in the banking and securities markets around the world, among other factors.
We cannot predict how long the current market conditions will last. However, these recent and developing economic and governmental
factors, together with the concurrent decline in charter rates and vessel values, may have a material adverse effect on our results
of operations and may cause the price of our common shares to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Continued economic slowdown in the Asia Pacific
region, particularly in China, may exacerbate the effect on us, as we anticipate a significant number of the port calls made by
our vessels will continue to involve the loading or discharging of dry bulk commodities in ports in the Asia Pacific region. Before
the global economic financial crisis that began in 2008, China had one of the world&rsquo;s fastest growing economies in terms
of GDP, which had a significant impact on shipping demand. The growth rate of China&rsquo;s GDP is estimated by the National Bureau
of Statistics of China to have decreased from 6.8% for the former year of 2017 to approximately 6.6% for the year ended December
31, 2018, which would be the lowest rate in 28 years. China has previously imposed measures to restrain lending, which may further
contribute to a slowdown in its economic growth. China has also announced plans to gradually transition from an investment led
growth model to a consumption driven economic growth model, which could lead to smaller demand for iron ore and other commodities.
This transition may take place over the span of a number of years, and there can be no assurance as to the time frame for such
a transformation or that any such transformation will occur at all.&nbsp;It is possible that China and other countries in the
Asia Pacific region will continue to experience slowed or even negative economic growth in the near future. Moreover, the current
economic slowdown in the economies of the United States, the European Union and other Asian countries may further adversely affect
economic growth in China and elsewhere. Our business, financial condition and results of operations, ability to pay dividends,
if any, as well as our future prospects, will likely be materially and adversely affected by a further economic downturn in any
of these countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Sulphur regulations to reduce air pollution
from ships may require retrofitting of vessels and may cause us to incur significant costs.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2016, the IMO set January 1, 2020
as the implementation date for vessels to comply with its low sulphur fuel oil requirement, which cuts sulphur levels from 3.5%
to 0.5%. The interpretation of &ldquo;fuel oil used on board&rdquo; includes use in main engine, auxiliary engines and boilers.
Shipowners may comply with this regulation by (i) using 0.5% sulphur fuels on board, which is likely to be available around the
world by 2020 but likely at a higher cost; (ii) installing scrubbers for cleaning of the exhaust gas; or (iii) by retrofitting
vessels to be powered by liquefied natural gas (&ldquo;LNG&rdquo;), which may not be a viable option due to the lack of supply
network and high costs involved in this process. Costs of compliance with these regulatory changes may be significant and may
have a material adverse effect on our future performance, results of operations, cash flows and financial position.&nbsp;It is
unclear how the new emissions standard will affect the employment of our vessels, given that the cost of fuel is borne by our
charterers when our vessels are on time charter employment. In particular, it is not known what the price differential between
high sulphur content fuel and the more expensive low sulphur fuel will be or if low sulphur fuel will be available in the quantities
needed at the areas where the vessels are trading. Over time, however, it is possible that ships not retrofitted to comply with
the new emissions standard may become less competitive (compared with ships equipped with exhaust gas scrubbers that can utilize
less expensive high sulphur fuel), may have difficulty finding employment, may command lower charter hire and/or may need to be
scrapped.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are a Marshall Islands corporation
and a majority of our subsidiaries are Marshall Islands corporations, and the European Union has put the Republic of the Marshall
Islands on a blacklist of non-cooperative tax jurisdictions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The European Union finance ministers rate
jurisdictions for tax transparency, governance, real economic activity, and corporate tax rate. Countries which do not cooperate
with the finance ministers are put on a &ldquo;grey list&rdquo; or a blacklist. While the Republic of the Marshall Islands was
previously on the European Union&rsquo;s grey list, on March 12, 2019, the Marshall Islands (along with Barbados and the United
Arab Emirates) was moved to the &ldquo;blacklist&rdquo;. In making this announcement, the European Union cited the Marshall Islands&rsquo;
having not &ldquo;followed up&rdquo; on prior commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">European Union member states have agreed
upon a set of countermeasures, which they can choose to apply against the listed countries, including increased monitoring
and audits, withholding taxes, special documentation requirements and anti-abuse provisions. The European Commission has
stated it will continue to support Member States' work to develop a more coordinated approach to sanctions for the EU list in
2019. According to the European Commission announcement regarding the blacklist, EU legislation also prohibits EU funds from
being channelled or transited through entities in countries on the blacklist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We and all but one of our subsidiaries are
Marshall Islands corporations, and it is difficult to say how or if this new development will impact our business. We do not know
what actions the Marshall Islands may take to remove itself from the blacklist; how quickly the European Union would react to
the Marshall Islands&rsquo; behavior; or how banks or other counterparties will act until the European Union takes the Marshall
Islands off this &ldquo;list of non-cooperative tax jurisdictions&rdquo;. If banks or counterparties refuse to conduct transactions
with us or route money through our accounts, we may need to reflag our vessels or change the domicile of our company and its subsidiaries,
which would be expensive, time-consuming, and substantially disruptive to our business and our ability to repay our debts as they
become due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Company Specific Risk Factors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>There are substantial doubts about our
ability to continue as a going concern and if we are unable to continue our business, our shares may have little or no value.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We had a working capital deficit (being our
total consolidated current liabilities exceeding our total consolidated current assets) of $40.4 million as of December 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See &ldquo;&mdash;At December 31, 2018, Globus&rsquo;s
current liabilities exceeded its current assets&rdquo; for more information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our ability to become a profitable operating
company is dependent upon our ability to generate revenues and/or obtain financing adequate to fulfill our shipping activities,
and achieving a level of revenues adequate to support our operating expenses. Our inability to generate net revenues has raised
substantial doubts expressed by our independent auditors about our ability to continue as a going concern. All of our vessels
are pledged as collateral to a bank, and therefore if we were to sell one or more vessels, the net proceeds of such sale would
be used first to repay the outstanding debt to which the vessel is collateralized, and the remainder, if any, would be for our
use, subject to the terms of our remaining loan and credit arrangements. The doubts raised relating to our ability to continue
as a going concern may make our securities an unattractive investment for potential investors. These factors, among others, may
make it difficult to raise any additional capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>At December 31, 2018, Globus&rsquo;s current liabilities
exceeded its current assets.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we were not in compliance
with the loan covenants of the agreement with Hamburg Commercial Bank AG, which constituted an event of default (for more information,
see Item 5.B Liquidity and Capital Resources&mdash;Indebtedness). The Macquarie Loan Agreement contains a cross-default provision,
which means that such non compliance also constituted a default under the Macquarie Loan Agreement, even though as of December
31, 2018 we were in compliance with all of our other obligations under the Macquarie Loan Agreement. Accordingly, an event of
default has occurred under both the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement, and our lenders can elect
to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed
against the collateral securing that debt, which could constitute all or substantially all of our assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, as we did not have an unconditional
right to defer settlement of the related liability for at least twelve months after the date of the consolidated statement of
financial position, the total balance of the loans outstanding to Macquarie Bank International Limited and Hamburg Commercial
Bank AG of $35.4 million at December 31, 2018, has been classified as current. As a result, as of December 31, 2018, our working
capital, measured as our current assets, minus our current liabilities, including the current portion of long-term debt, amounted
to a working capital deficit of $40.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Current liabilities as of December 31, 2018 include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(1) the amount outstanding of $22.1
million with respect to the Hamburg Commercial Loan Agreement with Hamburg Commercial Bank AG. For more information, see Item
5.B Liquidity and Capital Resources &ndash; Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(2) the amount outstanding of $13.3
million with respect to the Loan Agreement with Macquarie Bank International Limited. For more information, see Item 5.B Liquidity
and Capital Resources &ndash; Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on our cash flow projections for the
twelve-month period ending following the issuance of these consolidated financial statements, cash on hand and cash generated
from operating activities will not be sufficient for us to be in compliance with the minimum liquidity requirement contained in
certain of our loan and credit facilities or to cover scheduled debt payments due in this period. The period of time that we will
be able to continue to operate as a going concern will depend on our ability to restructure our loan and credit arrangements and
to finance our operations through the sale of equity, potential sale of assets, incurring debt, or other financing alternatives.
All of our vessels are pledged as collateral to the banks, and therefore if we were to sell one or more vessels, the net proceeds
of such sale would be used first to repay the outstanding debt to which the vessel is collateralized, and the remainder, if any,
would be for our use, subject to the terms of our remaining loan and credit arrangements. We acknowledge that uncertainty remains
over our ability to meet our liabilities as they fall due. If for any reason we are unable to continue as a going concern, our
investors may lose all or a portion of their investment, and we may be unable to pay all of our outstanding debts and other obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We have breached covenants contained in the Hamburg Commercial
Loan Agreement</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, the Company was in
breach of the financial covenants included in its Hamburg Commercial Loan Agreement. The Macquarie Loan Agreement contains a cross-default
provision, which means that we were in default under the Macquarie Loan Agreement as of December 31, 2018, even though at such
time we were in compliance with all of our other obligations under the Macquarie Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our lenders could elect to declare the outstanding
debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing
that debt, which could constitute all or substantially all of our assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">See &ldquo;Item 5.B Liquidity and Capital Resources &ndash; Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Our convertible note may be redeemed under circumstances
out of our control. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the convertible note, the
convertible note may be redeemed or immediately due upon an Event of Default (as defined within the convertible note), a Change
of Control (as defined within the convertible note), or a ten trading day period in which our stock trades below 120% the Floor
Price then in effect, in some cases at a premium to the principal and interest outstanding under the convertible note. Some of
the events giving rise to these rights are out of the Company&rsquo;s immediate control (such as our stock price being below 120%
of the floor price), and could trigger cross-default provisions under our other loan agreements. If we are unable to come up with
the cash when due, we may be unable to pay the redemption price, which could negatively affect our stork price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Restrictive covenants in the Macquarie
Loan Agreement and the Hamburg Commercial Loan Agreement may impose financial and other restrictions on us, including cross-default
provisions, and we cannot assure you that we will be able to borrow funds from future debt arrangements.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Macquarie Loan Agreement and the Hamburg
Commercial Loan Agreement impose operating and financial restrictions on us. These restrictions may limit our ability to, among
other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">create or permit liens on our assets;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">engage in mergers or consolidations, or sales of certain of our assets;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">change the flag or classification society of our vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">pay dividends; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">change the management of our vessels.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These restrictions could limit our ability
to finance our future operations or capital needs, make acquisitions or pursue available business opportunities. In addition,
the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement will, and future credit arrangements will likely, require
us to maintain specified financial ratios and satisfy financial covenants during the remaining terms of such agreements, some
of which are based upon the market value of our fleet. If the market value of our fleet declines sharply, we may not be in compliance
with certain provisions of the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement, and we may not be able to refinance
our debt or obtain additional financing. The market value of dry bulk vessels is sensitive, among other things, to changes in
the dry bulk charter market, with vessel values deteriorating in times when dry bulk charter rates are falling and improving when
charter rates are anticipated to rise. The current low charter rates in the dry bulk market, along with the oversupply of dry
bulk carriers and the prevailing difficulty in obtaining financing for vessel purchases, have adversely affected dry bulk vessel
values, including the vessels in our fleet. As a result, we may not meet certain minimum asset coverage ratios and other financial
ratios which are included in our loan arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For a more detailed discussion on our loan
covenants, including breaches of them and relaxations and/or waivers we obtained, see &ldquo;Item 5.B Liquidity and Capital Resources&mdash;Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our loan agreements include covenants
regarding the continued service of our officers and directors or minimum equity interest held by our chairman, Mr. Feidakis.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fiment Shipping Credit Agreement includes
covenants regarding the continued service of our officers and directors, including the continued service of Mr. Anthanasios Feidakis
as Chief Executive Officer, which covenants would be breached if certain of our officers or directors resigned, died, were not
reelected, or otherwise could not continue to serve the Company in such capacity. If one of those events occurred, the lender
under this loan agreement could declare an event of default. Additionally, the change in the ultimate beneficial ownership or
control of the Company constitutes an event of default under the Macquarie Loan Agreement, and a reduction in the equity interest
held by our chairman Mr. George Feidakis below 40% of the voting securities or economic interest in the Company constitutes an
event of default under the Firment Shipping Credit Facility. Each of our outstanding loan arrangements, except for the Firment
Shipping Credit Facility, also contains a cross-default provision that may be triggered by a default under any of our other loans.
A cross-default provision means that a default on one loan could result in a default on all of our other loans. Because of the
presence of cross-default provisions in these secured loan arrangements, the refusal of any one lender to grant or extend a relaxation
or waiver could result in most of our indebtedness being accelerated even if our other secured lenders have relaxed or waived
covenant defaults under their respective loan arrangements. Our Convertible Note also contains a cross-default provision that
is triggered upon a material default or an event of default under an existing agreement which would or is likely to have a material
adverse effect on the Company or any of its subsidiaries, individually or in the aggregate. If our indebtedness is accelerated,
it will be very difficult in the current financing environment for us to refinance our debt or obtain additional financing and
we could lose our vessels if our lenders foreclose their liens, and our ability to conduct our business would be severely impaired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Our stock price has been volatile
and no assurance can be made that it will not substantially depreciate.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Our stock price has been
volatile recently. The closing price of our common shares within the past 12 months has ranged from a peak of $13.70 on January
10, 2018 to a low of $2.53 on December 24, 2018, representing a decrease of 82%, adjusting for the 4:1 and 10:1 stock split we
effected on October 20, 2016 and October 15, 2018. We can offer no comfort or assurance that our stock price will stop being volatile
or not substantially depreciate.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Our existing shareholders will be
diluted each time our outstanding warrant is exercised, and each time our convertible note is converted into common shares.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">After we issued the October
2017 Warrant, the warrant holder had the right to purchase an aggregate of 1,250,000 common shares at a price of $16 per share
(subject to adjustment). As of December 31, 2018, in connection with the October 2017 private placement, the October 2017 Warrant
remained outstanding and had not been exercised in full or in part (meaning its holder could purchase an aggregate of 1,250,000
common shares, subject to adjustment).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Our convertible note is
also convertible into shares of our common stock at the election of its holder at a fixed price of $4.50, or if our common stock
price is lower than $4.50 after June 7, 2019, a floating&nbsp;conversion&nbsp;price at a discount to the market price of our common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">A blocker provision, which
is substantially similar in both the warrant and the convertible note, limits the ability of the warrant or the entire convertible
note to be converted at once, but does not prohibit its holder from exercising a portion of the warrant or converting a portion
of the note, selling all of the common shares issued, and then further exercising the warrant or further converting the note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">We have no control over
whether the holders will exercise their right to convert their convertible notes or exercise their warrant. We cannot predict
the market price of our common stock at any future date, and therefore, cannot predict the applicable prices at which the convertible
notes may be converted. For these reasons, we are unable to accurately forecast or predict with any certainty the total amount
of shares that may be issued under the convertible note. However, the number of shares of our common stock issuable upon&nbsp;conversion&nbsp;of
the convertible note increases when the price of our common stock declines. While there is a floor price in our convertible note
of $2.25, which creates the minimum price into which the convertible note may convert into common stock, we can agree to reduce
this floor price to any amount equal to or exceeding $1.00. The existence and potentially dilutive impact of the convertible note
and our outstanding warrants may prevent us from obtaining additional financing in the future on acceptable terms, or at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">A substantial number of
common shares were sold in the February and October 2017 private placements and related loan amendment agreements, and we cannot
predict if and when the holders of those securities may sell such shares in the public markets. Furthermore, in the future, we
may issue additional common shares or other equity or debt securities convertible into common shares in connection with a financing,
acquisition, litigation settlement, employee arrangements, or otherwise. Any such issuance would result in substantial dilution
to our existing shareholders (unless they purchased additional shares to maintain their ownership) and could cause our stock price
to decline.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The issuance or sale of a substantial
amount of our common shares in the public market, or the perception that such could occur, could adversely affect the prevailing
market price of our common shares.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Sales or issuances (by exercise
of the warrant or conversion of the convertible note) of substantial amounts of our common shares in the public market, or the
perception that such sales might occur, could adversely affect the market price of our common shares. Such sales could also cause
our stock price to be volatile and would cause our shareholders to be diluted (unless they purchased additional shares to maintain
their ownership). Furthermore, in the future, we may issue additional common shares or other equity or debt securities convertible
into common shares in connection with a financing, acquisition, litigation settlement, employee arrangements, or otherwise. Any
such issuance would result in substantial dilution to our existing shareholders (unless they purchased additional shares to maintain
their ownership) and could cause our stock price to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>If we are unable to deliver common
shares free of restrictive legends where required, we must make whole any purchaser who loses money by purchasing common shares
on the market to complete a trade.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The warrant and the purchase
agreement pursuant to which the warrant was issued in the October 2017 private placement require us, within the later of (a) five
full trading days of the exercise of a warrant and (b) three full trading days after receipt of the purchase price for such exercised
warrant, to issue common shares, which, where called for therein, must be free of restrictive legends. Our convertible note and
the purchase agreement contain similar deadlines. If we are unable to deliver proof that the above has occurred when required
and if a warrant holder, note holder, or shareholder has traded the common shares that we have failed to deliver unlegended, penalty
provisions of these documents require us to make whole the holder who loses money by purchasing shares on the common market to
complete its trade or potentially paying cash to the person to cover his costs. Depending on our share price during this time
and the number of shares to which the payments relate, we could be required to pay a substantial sum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B><I>If we are unable to
maintain the effectiveness of the resale registration statement for the shares and warrant that we sold in the private placement
in October 2017, we would have breached agreements and the warrants may be eligible for cashless exercise.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The warrant that we sold
in October 2017 contains a provision whereby the relevant holder has the right to a cashless exercise if, six months after its
issuance, a registration statement covering the resale of the shares issuable thereunder is not effective. If for any reason we
are unable to keep such a registration statement active and effective, we could be required to issue shares without receiving
cash consideration. In addition, we would have breached certain agreements with that investor and may be sued. Currently the registration
statement has been filed and is effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B><I>If we are unable to
file and maintain the effectiveness of a resale registration statement for the shares into which our convertible note may convert,
we will breach agreements and be subject to consequences.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The documentation relating
to the issuance of the convertible note contains an agreement to file a registration statement and have it effective within 120
days of the issuance of the convertible note. If for any reason we are unable to keep such a registration statement active and
effective, we would be required to pay certain liquidated damages, and be sued for breach of contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We cannot assure you that we will be able to refinance our
existing indebtedness or obtain additional financing.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may finance future fleet expansion with
additional secured indebtedness. While we may refinance amounts drawn under the Macquarie Loan Agreement or the Hamburg Commercial
Loan Agreement or secure new debt facilities with the net proceeds of future debt and equity offerings, we cannot assure you that
we will be able to do so at an interest rate or on terms that are acceptable to us or at all. Our ability to obtain bank financing
or to access the capital markets for future offerings may be limited by our financial condition at the time of any such financing
or offering, including the actual or perceived credit quality of our charterers and the market value of our fleet, as well as
by adverse market conditions resulting from, among other things, general economic conditions, weakness in the financial markets
and contingencies and uncertainties that are beyond our control. Significant contraction, de-leveraging and reduced liquidity
in credit markets worldwide is reducing the availability and increasing the cost of credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are not able to refinance the Macquarie
Loan Agreement, the Hamburg Commercial Loan Agreement or obtain new debt financing on terms acceptable to us, we will have to
dedicate a portion of our cash flow from operations to pay the principal and interest of this indebtedness. If we are not able
to satisfy these obligations, we may have to undertake alternative financing plans. In addition, debt service payments under the
Macquarie Loan Agreement, the Hamburg Commercial Loan Agreement or alternative financing may limit funds otherwise available for
working capital, capital expenditures, the payment of dividends and other purposes. Our inability to obtain additional or replacement
financing at anticipated costs or at all may materially affect our results of operation, our ability to implement our business
strategy, our payment of dividends and our ability to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our common shares may be delisted from
Nasdaq, which could affect their market price and liquidity. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are required to meet certain qualitative
and financial tests (including a minimum bid price for our common shares of $1.00 per share, at least 500,000 publicly held shares,
at least 300 public holders, a market value of publicly held securities of $1 million and net income from continuing operations
of $500,000), as well as other corporate governance standards, to maintain the listing of our common shares on the Nasdaq Capital
Market. It is possible that we could fail to satisfy one or more of these requirements. There can be no assurance that we will
be able to maintain compliance with the minimum bid price, shareholders&rsquo; equity, number of publicly held shares, net income
requirements or other listing standards in the future. We may receive notices from Nasdaq that we have failed to meet its requirements,
and proceedings to delist our stock could be commenced. In such event, Nasdaq rules permit us to appeal any delisting determination
to a Nasdaq Hearings Panel. If we are unable to maintain or regain compliance in a timely manner and our common shares are delisted,
it could be more difficult to buy or sell our common shares and obtain accurate quotations, and the price of our shares could
suffer a material decline. Delisting may also impair our ability to raise capital. Delisting of our shares would breach a number
of our credit facilities and loan arrangements, some of which contain cross default provisions. There could also be adverse tax
consequences&mdash;please read &ldquo;Item 10.E Taxation &ndash; United States Tax Considerations - United States Federal Income
Taxation of United States Holders &ndash; Distributions&rdquo; for further information. In calendar year 2018, the closing price
of our common shares ranged from a peak of $13.70 on January 10, 2018 to a low of $2.53 on December 24, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2015, when the Company&rsquo;s
common shares traded on the Nasdaq Global Market, the Company received written notification from The Nasdaq Stock Market dated
October 22, 2015 indicating that because the market value of the Company's publicly held common stock (&quot;MVPHS&quot;) for
the previous 30 consecutive business days was below the minimum requirement of $5,000,000, the Company no longer met the minimum
MVPHS continued listing requirement for the Nasdaq Global Market, as set forth in the Nasdaq Listing Rule 5450(b)(1)(C). Pursuant
to Nasdaq Listing Rule 5810(c)(3)(D), the Company was granted a grace period of 180 calendar days (or until April 19, 2016) to
regain compliance with Nasdaq's MVPHS requirement. Furthermore, in November 2015, the Company received written notification from
the Nasdaq Stock Market dated November 9, 2015 indicating that because the closing bid price of the Company&rsquo;s common stock
for the previous 30 consecutive business days was below $1.00 per share, the Company no longer met the minimum bid price continued
listing requirement for the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to Nasdaq Listing Rules,
the applicable grace period to regain compliance was 180 days, or until May 9, 2016. Subsequent to these two events the Company
monitored closely both its MVPHS and closing bid price and looked into ways of curing both deficiencies. The Company transferred
from the Nasdaq Global Market to the Nasdaq Capital Market, where the MVPHS requirement is only $1,000,000 and commenced trading
on the Nasdaq Capital Market on April 11, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On May 9, 2016 the Company
received a written notification from Nasdaq confirming its eligibility for a second grace period of 180 days, lasting until November
9, 2016 to regain compliance with its minimum $1.00 per share closing bid price requirement. On October 20, 2016, we effected
a four-for-one reverse stock split which reduced the number of outstanding common shares from 10,510,741 to 2,627,674 shares (adjustments
were made based on fractional shares). On November 3, 2016 we received a letter from NASDAQ, indicating that the Company has regained
compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the NASDAQ Capital Market,
pursuant to the NASDAQ marketplace rules. For at least 10 consecutive business days from October 20, to November 2, 2016, the
closing bid price had been greater than $1.00. NASDAQ indicated within its letter that since the Company has regained compliance
with the minimum bid price rule, the matter had closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On May 4, 2018, the Company
received written notification from The Nasdaq Stock Market dated April 30, 2018, indicating that because the closing bid price
of our common stock for the last 30 consecutive business days was below $1.00 per share, we no longer meet the minimum bid price
continued listing requirement for the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to Nasdaq
Listing Rules, the applicable grace period to regain compliance is 180 days, or until October 29, 2018. On October 15, 2018, we
effected a ten-for-one reverse stock split which reduced the number of outstanding common shares from 32,065,077 to 3,206,495
shares (adjustments were made based on fractional shares). On October 30, 2018 we received a letter from Nasdaq, indicating that
the Company has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the
Nasdaq Capital Market, pursuant to the Nasdaq marketplace rules. Because for at least 10 consecutive business days after the reverse
stock split, the closing bid price had been greater than $1.00, NASDAQ indicated within its letter that the Company regained compliance
with the minimum bid price rule and the matter had closed. We can offer no reassurance that we will not receive similar letters
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There can be no assurance that we will be
able to maintain compliance with the minimum bid price, shareholders&rsquo; equity, number of publicly held shares or other listing
standards in the future. We may receive notices from Nasdaq that we have failed to meet its requirements, and proceedings to delist
our stock could be commenced. If we are unable to maintain or regain compliance in a timely manner and our common shares are delisted,
it could be more difficult to buy or sell our common shares and obtain accurate quotations, and the price of our shares could
suffer a material decline. Delisting of our shares would breach a number of our credit facilities and loan arrangements, some
of which contain cross default provisions. Delisting may also impair our ability to raise capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be unable to successfully employ
our vessels on long-term time charters or take advantage of favorable opportunities involving short-term or spot market charter
rates.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our strategy involves employing our vessels
primarily on time charters generally with durations between three months and five years. As of December 31, 2018, all of our vessels
were employed on short-term time charters. Although time charters with durations of one to five years may provide relatively steady
streams of revenue, if our vessels were committed to such charters they may not be available for re-chartering or for spot market
voyages when such employment would allow us to realize the benefits of comparably more favorable charter rates. In addition, in
the future, we may not be able to enter into new time charters on favorable terms. The dry bulk market is volatile, and in the
past charter rates have declined below operating costs of vessels and such is currently the case. If we are required to enter
into a charter when charter rates are low, employ our vessels on the spot market during periods when charter rates have fallen
or we are unable to take advantage of short-term opportunities on the spot or charter market, our earnings and profitability could
be adversely affected. We cannot assure you that future charter rates will enable us to cover our costs, operate our vessels profitably
or to pay dividends, or all of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also decide that it makes economic
sense to lay up one or more vessels. While our vessels are laid up, we will pay lay-up costs, but those vessels will not be able
to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>As we expand our business, we may have
difficulty improving our operating and financial systems and recruiting suitable employees and crew for our vessels.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our current operating and financial systems
may not be adequate if we expand the size of our fleet, and our attempts to improve those systems may be ineffective. In addition,
as we seek to expand our internal technical management capabilities and our fleet, we or our crewing agents may need to recruit
suitable additional seafarers and shore based administrative and management personnel. We cannot guarantee that we or our crewing
agents will be able to hire suitable employees or a sufficient number of employees if and as we expand our fleet. If we or our
crewing agent encounter business or financial difficulties, we may not be able to adequately staff our vessels. If we are unable
to develop and maintain effective financial and operating systems or to recruit suitable employees as we expand our fleet, our
financial performance may be adversely affected and, among other things, the amount of cash available for distribution as dividends
to our shareholders may be reduced or eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Recently, the limited supply of and increased
demand for well-qualified crew, due to the increase in the size of the global shipping fleet, has created upward pressure on crewing
costs, which we generally bear under our time and spot charters. Increases in crew costs may adversely affect our profitability,
results of operations, cash flows, financial condition and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The smuggling of drugs or other contraband
onto our vessels may lead to governmental claims against us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We expect that our vessels will call at ports
where smugglers may attempt to hide drugs and other contraband on vessels, with or without the knowledge of crew members. To the
extent that our vessels are found with contraband, whether inside or attached to the hull of our vessel, and whether with or without
the knowledge of any of our crew, we may face governmental or other regulatory claims that could have an adverse effect on our
business, results of operations, cash flows, financial condition and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Labor interruptions could disrupt our
business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our vessels are manned by masters, officers
and crews (totaling 113 as of December 31, 2018). Seafarers manning the vessels in our fleet are covered by industry-wide collective
bargaining agreements that set basic standards. Any labor interruptions or employment disagreements with our crew members could
disrupt our operations and could have a material adverse effect on our business, results of operations, cash flows, financial
condition and ability to pay dividends. We cannot assure you that collective bargaining agreements will prevent labor interruptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our charterers may renegotiate or default
on their charters.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our charters provide the charterer the right
to terminate the charter on the occurrence of stated events or the existence of specified conditions. In addition, the ability
and willingness of each of our charterers to perform its obligations under its charter with us will depend on a number of factors
that are beyond our control. These factors may include general economic conditions, the condition of the dry bulk shipping industry
and the overall financial condition of the counterparties. The costs and delays associated with the default of a charterer of
a vessel may be considerable and may adversely affect our business, results of operations, cash flows, financial condition and
ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the recent depressed dry bulk market conditions,
there have been numerous reports of charterers renegotiating their charters or defaulting on their obligations under their charters.
If a current or future charterer defaults on a charter, we will seek the remedies available to us, which may include arbitration
or litigation to enforce the contract, although such efforts may not be successful and for short term charters may cost more to
enforce than the potential recovery. We cannot predict whether our charterers will, upon the expiration of their charters, re-charter
our vessels on favorable terms or at all. If our charterers decide not to re-charter our vessels, we may not be able to re-charter
them on terms similar to the terms of our current charters or at all. If we receive lower charter rates under replacement charters
or are unable to re-charter all of our vessels, this may adversely affect our business, results of operations, cash flows, financial
condition and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The aging of our fleet may result in
increased operating costs in the future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In general, the cost of maintaining a vessel
in good operating condition increases with the age of the vessel. As of December 31, 2018 and 2017, the weighted average age of
the vessels in our fleet was 10.8 and 9.8 years, respectively. Our oldest vessel was built in 2005, and our youngest vessel was
built in 2010. As our fleet ages, we will incur increased costs. Older vessels are typically less fuel efficient and more costly
to maintain than more recently constructed vessels due to improvements in engine technology. Cargo insurance rates, paid by charterers,
increase with the age of a vessel, making older vessels less desirable to charterers. Governmental regulations, safety or other
equipment standards related to the age of vessels may require expenditures for alterations or the addition of new equipment, to
our vessels and may restrict the type of activities in which our vessels may engage. We cannot assure you that, as our vessels
age, further market conditions will justify those expenditures or enable us to operate our vessels profitably during the remainder
of their useful lives. We may also decide that it makes economic sense to lay up one or more vessels. While our vessels are laid
up, we will pay lay-up costs, but those vessels will not be able to earn any hire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may have difficulty managing our
planned growth properly.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any future acquisitions of additional vessels
will impose additional responsibilities on our management and staff and may require us to increase the number of our personnel.
In the event of a future acquisition of additional vessels, we will also have to increase our customer base to provide continued
employment for the new vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to continue to stabilize and then
to try to grow our business through disciplined acquisitions of vessels that meet our selection criteria and newly built vessels
if we can negotiate attractive purchase prices. Our future growth will primarily depend on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">locating and acquiring suitable vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">identifying and consummating acquisitions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">enhancing our customer base;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">managing our expansion; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">obtaining required financing on acceptable terms.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A delay in the delivery to us of any such
vessel, or the failure of the shipyard to deliver a vessel at all, could cause us to breach our obligations under a related charter
and could adversely affect our earnings. In addition, the delivery of any of these vessels with substantial defects could have
similar consequences. A shipyard could fail to deliver a new-building on time or at all because of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">work stoppages or other hostilities or political
    or economic disturbances that disrupt the operations of the shipyard;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">quality or engineering problems;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">bankruptcy or other financial crisis of the shipyard;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">a backlog of orders at the shipyard;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">weather interference or catastrophic events, such
    as major earthquakes or fires;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">our requests for changes to the original vessel
    specifications or disputes with the shipyard;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">shortages of or delays in the receipt of necessary construction
    materials, such as steel; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">shortages of or delays in the receipt of necessary
    equipment, such as main engines, electricity generators and propellers.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, if we enter a new-building or
secondhand contract in the future, we may seek to terminate the contract due to market conditions, financing limitations or other
reasons. The outcome of contract termination negotiations may require us to forego deposits on construction or purchase and pay
additional cancellation fees. In addition, where we have already arranged a future charter with respect to the terminated new-building
contract, we would need to provide an acceptable substitute vessel to the charterer to avoid breaching our charter agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During periods in which charter rates are
high, vessel values generally are high as well, and it may be difficult to consummate vessel acquisitions or enter into new-building
contracts at favorable prices. During periods when charter rates are low, such as the current market, we may be unable to fund
the acquisition of new-buildings, whether through lending or cash on hand. For these reasons, we may be unable to execute our
growth plans or avoid significant expenses and losses in connection with our future growth efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Growing any business by acquisition presents
numerous risks, such as undisclosed liabilities and obligations, the possibility that indemnification agreements will be unenforceable
or insufficient to cover potential losses and difficulties associated with imposing common standards, controls, procedures and
policies, obtaining additional qualified personnel, managing relationships with customers and integrating newly acquired assets
and operations into existing infrastructure. We cannot give any assurance that we will be successful in executing our growth plans
or that we will not incur significant expenses and losses in connection with our future growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To the extent we scrap or sell vessels, we
may decide to terminate the employment of some of our staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Legislative or regulatory changes in
Greece may adversely affect our results from operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Globus Shipmanagement Corp., our ship management
subsidiary, who we refer to as our Manager, is regulated under Greek Law 89/67, and conducts its operations and those on our behalf
primarily in Greece. Greece has been implementing new legislative measures to address financial difficulties, several of which
as a response from oversight by the International Monetary Fund and by European regulatory bodies such as the European Central
Bank. Such legislative actions may impose new regulations on our operations in Greece that will require us to incur new or additional
compliance or other administrative costs and may require that our Manager or we pay to the Greek government new taxes or other
fees. Any such taxes, fees or costs we incur could be in amounts that are significantly greater than those in the past and could
adversely affect our results from operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For example, in 2013, tax law 4110/2013 amended
the long-standing 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 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 completely satisfies all income tax obligations of both the
shipowning 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The tax residents of Greece who receive dividends
from such shipowning or their holding companies, (pursuant to a very recent agreement between the Union of Greek Shipowners and
the Greek State, which is expected to come in force shortly) are taxed at 10% on the dividends which they receive and which they
import into Greece, not being liable to any other taxation for these, which include those dividends which either remain with the
holding company or are paid to the individual Greek tax resident abroad.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Greek crisis could adversely affect
the operations of our fleet manager, which has offices in Greece.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Globus Shipmanagement Corp., our Manager,
has an office in Greece. As a result of the ongoing economic slump in Greece, our Manager may be subjected to new regulations
that may require us to incur new or additional compliance or other administrative costs and may require that we pay to the Greek
government new taxes or other fees. Furthermore, renewed political uncertainty and social unrest due to the worsening economic
conditions and the growing refugee population in the country may undermine Greece's political and economic stability and may lead
it to exit the Eurozone, which may adversely affect the operations of our Manager located in Greece. We also face the risk that
enhanced capital controls, strikes, work stoppages, civil unrest and violence within Greece may disrupt the operations of our
Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We rely on our information systems to
conduct our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The efficient operation of our business is
dependent on computer hardware and software systems. Information systems are vulnerable to security breaches by computer hackers
and cyber terrorists. We rely on what we believe to be industry accepted security measures and technology to securely maintain
confidential and proprietary information maintained on our information systems. However, these measures and technology may not
adequately prevent security breaches. In addition, the unavailability of the information systems or the failure of these systems
to perform as anticipated for any reason could disrupt our business and could result in decreased performance and increased operating
costs, causing our business and results of operations to suffer. Any significant interruption or failure of our information systems
or any significant breach of security could adversely affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We expect that a limited number of financial
institutions will hold our cash including financial institutions that may be located in Greece.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We expect that a limited number of financial
institutions will hold all of our cash, including some institutions located in Greece. Our bank accounts are with banks in Switzerland,
Germany and Greece. Of the financial institutions located in Greece, none are subsidiaries of international banks. We do not expect
that these balances will be covered by insurance in the event of default by these financial institutions. The occurrence of such
a default could have a material adverse effect on our business, financial condition, results of operations and cash flows, and
we may lose part or all of our cash that we deposit with such banks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Purchasing and operating secondhand
vessels may result in increased operating costs and reduced fleet utilization.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While we have the right to inspect previously
owned vessels prior to our purchase of them, such an inspection does not provide us with the same knowledge about their condition
that we would have if these vessels had been built for and operated exclusively by us. A secondhand vessel may have conditions
or defects that we are not aware of when we buy the vessel and which may require us to incur costly repairs to the vessel. These
repairs may require us to put a vessel into drydocking, which would increase cash outflows and related expenses, while reducing
our fleet utilization. Furthermore, we usually do not receive the benefit of warranties on secondhand vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our ability to declare and pay dividends
to holders of our common shares will depend on a number of factors and will always be subject to the discretion of our board of
directors. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are not in compliance with our loan
covenants and received a notice of default and were unable to cure it under the terms of our loan covenants, we may be forbidden
from issuing dividends. There can be no assurance that dividends will be paid to holders of our shares in any anticipated amounts
and frequency at all. We may incur other expenses or liabilities that would reduce or eliminate the cash available for distribution
as dividends, including as a result of the risks described in this section of this annual report on Form 20-F. The Macquarie Loan
Agreement and the Hamburg Commercial Loan Agreement also prohibit our declaration and payment of dividends under some circumstances,
as does our convertible note. Under each of the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement we will be
prohibited from paying dividends if an event of default has occurred or any event has occurred or circumstance arisen which with
the giving of notice or the lapse of time or the satisfaction of any other condition would constitute an event of default under
the Macquarie Loan Agreement and the Hamburg Commercial Loan Agreement. An event of default has occurred under the Hamburg Commercial
Loan Agreement, and as the Macquarie Loan Agreement contains a cross-default provision, this means that we are in default under
the Macquarie Loan Agreement, even though as of December 31, 2018 we were in compliance with all of our other obligations under
the Macquarie Loan Agreement. Accordingly, we are presently unable to declare and pay dividends. Please read &ldquo;Item 5.B.
Liquidity and Capital Resources&mdash;Indebtedness&rdquo; for further information. We may also enter into new financing or other
agreements that may restrict our ability to pay dividends even without an event of default. In addition, we may pay dividends
to the holders of our preferred shares prior to the holders of our common shares, depending on the terms of the preferred shares.
Our Convertible Note also contains a cross-default provision that is triggered upon a material default or an event of default
under an existing agreement which would or is likely to have a material adverse effect on the Company or any of its subsidiaries,
individually or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The declaration and payment of dividends to
holders of our shares will be subject at all times to the discretion of our board of directors, and will be paid equally on a
per-share basis between our common shares and our Class B shares, to the extent any are issued and outstanding. We can provide
no assurance that dividends will be paid in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There may be a high degree of variability
from period to period in the amount of cash, if any, that is available for the payment of dividends based upon, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">the rates we obtain from our charters as well as
    the rates obtained upon the expiration of our existing charters;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">the level of our operating costs;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">the number of unscheduled off-hire days and the
    timing of, and number of days required for, scheduled drydocking of our vessels;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">vessel acquisitions and related financings;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">restrictions in the Macquarie Loan Agreement and
    the Hamburg Commercial Loan Agreement and in any future debt arrangements;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">our ability to obtain debt and equity financing
    on acceptable terms as contemplated by our growth strategy;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">prevailing global and regional economic and political
    conditions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">the effect of governmental regulations and maritime
    self-regulatory organization standards on the conduct of our business;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">our overall financial condition;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">our cash requirements and availability;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">the amount of cash reserves established by our board
    of directors; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-size: 10pt">restrictions under Marshall Islands law.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Marshall Islands law generally prohibits the
payment of dividends other than from surplus or certain net profits, or while a company is insolvent or would be rendered insolvent
by the payment of such a dividend. We may not have sufficient funds, surplus, or net profits to make distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may incur expenses or liabilities or be
subject to other circumstances in the future that reduce or eliminate the amount of cash that we have available for distribution
as dividends, if any. Our growth strategy contemplates that we will finance the acquisition of our new-buildings or selective
acquisitions of vessels through a combination of our operating cash flow and debt financing through our subsidiaries or equity
financing. If financing is not available to us on acceptable terms, our board of directors may decide to finance or refinance
acquisitions with a greater percentage of cash from operations to the extent available, which would reduce or even eliminate the
amount of cash available for the payment of dividends. We may also enter into other agreements that will restrict our ability
to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amount of cash we generate from our operations
may differ materially from our net income or loss for the period, which will be affected by non-cash items. We may incur other
expenses or liabilities that could reduce or eliminate the cash available for distribution as dividends. As a result of these
and the other factors mentioned above, we may pay dividends during periods when we record losses and may not pay dividends during
periods when we record net income, if we pay dividends at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are a holding company, and we will
depend on the ability of our subsidiaries to distribute funds to us in order to satisfy our financial obligations or to make dividend
payments.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a holding company and our subsidiaries,
which are all directly and wholly owned by us, will conduct all of our operations and own all of our operating assets. We have
no significant assets other than the equity interests in our wholly owned subsidiaries. As a result, our ability to make dividend
payments depends on our subsidiaries and their ability to distribute funds to us. If we are unable to obtain funds from our subsidiaries,
our board of directors may exercise its discretion not to declare or pay dividends. In addition, our subsidiaries are subject
to limitations on the payment of dividends under Marshall Islands or Maltese law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Management may be unable to provide
reports as to the effectiveness of our internal control over financial reporting or, when applicable, our independent registered
public accounting firm may be unable to provide us with unqualified attestation reports as to the effectiveness of our internal
control over financial reporting.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under Section 404 of the Sarbanes-Oxley Act
of 2002, which we refer to as Sarbanes-Oxley, we are required to include in each of our annual reports on Form 20-F a report containing
our management&rsquo;s assessment of the effectiveness of our internal control over financial reporting and we may also be required
to include, in our future annual reports, a related attestation of our independent registered public accounting firm. Our Manager,
Globus Shipmanagement, will provide substantially all of our financial reporting, and we will depend on the procedures it has
in place. If in such annual reports on Form 20-F our management cannot provide a report as to the effectiveness of our internal
control over financial reporting or, when applicable, our independent registered public accounting firm is unable to provide us
with an unqualified attestation report as to the effectiveness of our internal control over financial reporting as required by
Section 404, investors could lose confidence in the reliability of our consolidated financial statements, which could result in
a decrease in the value of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 31; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Unless we set aside reserves or are
able to borrow funds for vessel replacement, at the end of a vessel&rsquo;s useful life our revenues will decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 and December 31, 2017,
the vessels in our current fleet had a weighted average age of 10.8 and 9.8 years, respectively. Our oldest vessel was built in
2005, and our youngest vessel was built in 2010. Unless we maintain reserves or are able to borrow or raise funds for vessel replacement,
we will be unable to replace the vessels in our fleet upon the expiration of their remaining useful lives, which we expect to
be 25 years from the date of their construction. Our cash flows and income are dependent on the revenues earned by the chartering
of our vessels to customers. If we are unable to replace the vessels in our fleet upon the expiration of their useful lives, our
business, results of operations, financial condition and ability to pay dividends will be materially adversely affected. Any reserves
set aside for vessel replacement may not be available for dividends.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Investments in derivative instruments
such as forward freight agreements could result in losses.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time, we may take positions in
derivative instruments including forward freight agreements, or FFAs. FFAs and other derivative instruments may be used to hedge
a vessel owner&rsquo;s exposure to the charter market by providing for the sale of a contracted charter rate along a specified
route and period of time. Upon settlement, if the contracted charter rate is less than the average of the rates, as reported by
an identified index, for the specified route and time period, the seller of the FFA is required to pay the buyer an amount equal
to the difference between the contracted rate and the settlement rate, multiplied by the number of days in the specified period.
Conversely, if the contracted rate is greater than the settlement rate, the buyer is required to pay the seller the settlement
sum. If we take positions in FFAs or other derivative instruments and do not correctly anticipate charter rate movements over
the specified route and time period, we could suffer losses in the settling or termination of the FFA. This could adversely affect
our results of operations, cash flow and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We depend upon a few significant customers
for a large part of our revenues.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may derive a significant part of our revenue
from a small number of customers. During the years ended December 31, 2018, 2017 and 2016, we derived substantially all of our
revenues from approximately 24, 22 and 29 customers, respectively, and approximately 48%, 44% and 36%, respectively, of our revenues
during those years, were derived from four customers. If one or more of our major customers defaults under a charter with us and
we are not able to find a replacement charter, or if such a customer exercises certain rights to terminate the charter, we could
suffer a loss of revenues that could materially adversely affect our business, financial condition, results of operations and
cash available for distribution as dividends to our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We could lose a customer or the benefits of
a time charter if, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">the customer fails to make charter payments because
    of its financial inability, disagreements with us or otherwise;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">the customer terminates the charter because of our
    non-performance, including failure to deliver the vessel within a fixed period of time, the vessel is lost or damaged beyond
    repair, serious deficiencies in the vessel, prolonged periods of off-hire or our default under the charter; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">the customer terminates the charter because the
    vessel has been subject to seizure for more than 30 days.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we lose a key customer, we may be unable
to obtain charters on comparable terms with charterers of comparable standing or we may have increased exposure to the volatile
spot market, which is highly competitive and subject to significant price fluctuations. We would not receive any revenues from
such a vessel while it remained unchartered, but we may be required to pay expenses necessary to maintain the vessel in proper
operating condition, insure it and service any indebtedness secured by such vessel. The loss of any of our customers, time charters
or vessels or a decline in payments under our charters could have a material adverse effect on our business, results of operations
and financial condition and our ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 32; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Provisions of our articles of incorporation
and bylaws may have anti-takeover effects.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Several provisions of our articles of incorporation
and bylaws, which are summarized below, may have anti-takeover effects. These provisions are intended to avoid costly takeover
battles, lessen our vulnerability to a hostile change of control and enhance the ability of our board of directors to maximize
shareholder value in connection with any unsolicited offer to acquire our company. However, these anti-takeover provisions could
also discourage, delay or prevent the merger or acquisition of our company by means of a tender offer, a proxy contest or otherwise
that a shareholder may consider in its best interest and the removal of incumbent officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Multi Class Stock</I>. Our multi-class
stock structure, which consists of common shares, Class B shares, and preferred shares, can provide holders of our Class B shares
or preferred shares a significant degree of control over all matters requiring shareholder approval, including the election of
directors and significant corporate transactions, such as a merger or other sale of our company or its assets, because our different
classes of shares can have different numbers of votes. For instance, our articles of incorporation grant 20 votes to each Class
B share, as compared to one vote per common share; although no Class B shares are currently issued and outstanding, any person
who held Class B shares representing more than 2.5% of the Company&rsquo;s total issued and outstanding shares could control a
majority of the Company&rsquo;s votes and would be able to exert substantial control over our management and all matters requiring
shareholder approval, including electing directors and significant corporate transactions, such as a merger. Such holder&rsquo;s
interest could differ from yours, and the issuance of such shares could decrease the price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Blank Check Preferred Shares</I>. Under
the terms of our articles of incorporation, our board of directors has authority, without any further vote or action by our shareholders,
to issue up to 100 million shares of &ldquo;blank check&rdquo; preferred shares. Our board could authorize the issuance of preferred
shares with voting or conversion rights that could dilute the voting power or rights of the holders of common shares. The issuance
of preferred shares, while providing flexibility in connection with possible acquisitions and other corporate purposes, could,
among other things, have the effect of delaying, deferring or preventing a change in control of us or the removal of our management
and may harm the market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Classified Board of Directors</I>. Our
articles of incorporation provide for the division of our board of directors into three classes of directors, with each class
as nearly equal in number as possible, serving staggered, three-year terms beginning upon the expiration of the initial term for
each class. Approximately one-third of our board of directors is elected each year. This classified board provision could discourage
a third party from making a tender offer for our shares or attempting to obtain control of us. It could also delay shareholders
who do not agree with the policies of our board of directors from removing a majority of our board of directors for up to two
years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Election of Directors</I>. Our articles
of incorporation do not provide for cumulative voting in the election of directors. Our bylaws require parties, other than the
chairman of the board of directors, board of directors and shareholders holding 30% or more of the voting power of the aggregate
number of our shares issued and outstanding and entitled to vote, to provide advance written notice of nominations for the election
of directors. These provisions may discourage, delay or prevent the removal of incumbent officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Advance Notice Requirements for Shareholder
Proposals and Director Nominations</I>. Our bylaws provide that shareholders, other than shareholders holding 30% or more of the
voting power of the aggregate number of our shares issued and outstanding and entitled to vote, seeking to nominate candidates
for election as directors or to bring business before an annual meeting of shareholders must provide timely notice of their proposal
in writing to the corporate secretary. Generally, to be timely, a shareholder&rsquo;s notice must be received at our principal
executive offices not less than 150 days or more than 180 days prior to the first anniversary date of the immediately preceding
annual meeting of shareholders. Our bylaws also specify requirements as to the form and content of a shareholder&rsquo;s notice.
These provisions may impede a shareholder&rsquo;s ability to bring matters before an annual meeting of shareholders or make nominations
for directors at an annual meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We generate revenues from the trading
of our vessels in U.S. dollars but incur a portion of our expenses in other currencies. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We generate substantially all of our revenues
from the trading of our vessels in U.S. dollars, but during the years ended December 31, 2018 and 2017 we incurred approximately
29% and 28%, respectively, of our vessel operating expenses, and certain administrative expenses, in currencies other than the
U.S. dollar. This difference could lead to fluctuations in net profit due to changes in the value of the U.S. dollar relative
to the other currencies. Expenses incurred in foreign currencies against which the U.S. dollar falls in value can increase, decreasing
our revenues. We have not hedged our currency exposure, and, as a result, our results of operations and financial condition, denominated
in U.S. dollars, and our ability to pay dividends could suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 33; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Increases in interest rates may cause
the market price of our shares to decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An increase in interest rates may cause a
corresponding decline in demand for equity investments in general. Any such increase in interest rates or reduction in demand
for our shares resulting from other relatively more attractive investment opportunities may cause the trading price of our shares
to decline. If LIBOR increases, then our payments pursuant to certain existing loans will increase. See &ldquo;Item 11. Quantitative
and Qualitative Disclosures About Market Risk.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Volatility in the London Interbank Offered
Rate, or LIBOR, could affect our profitability, earnings and cash flow.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">LIBOR may be volatile, with the spread between
LIBOR and the prime lending rate widening significantly at times. These conditions are the result of disruptions in the international
markets. Because the interest rates borne by some of our outstanding loan facilities fluctuate with changes in LIBOR, it would
affect the amount of interest payable on those debts, which, in turn, could have an adverse effect on our profitability, earnings
and cash flow. Recently, however, there is uncertainty relating to the LIBOR calculation process which may result in the phasing
out of LIBOR in the future, and lenders have insisted on provisions that entitle the lenders, in their discretion, to replace
published LIBOR as the base for the interest calculation with their cost-of-funds rate. If we are required to agree to such a
provision in future loan agreements, our lending costs could increase significantly, which would also have an adverse effect on
our profitability, earnings and cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the banks, currently reporting
information used to set LIBOR, will likely stop such reporting after 2021, when their commitment to reporting information ends.
The Alternative Reference Rate Committee, or &quot;Committee&quot;, a committee convened by the U.S. Federal Reserve that includes
major market participants, has proposed an alternative rate to replace U.S. Dollar LIBOR: the Secured Overnight Financing Rate,
or &quot;SOFR.&quot; The impact of such a transition away from LIBOR would be significant for us because of our substantial indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our chairman of the board of directors
beneficially owns a significant number of our total outstanding common shares and could control matters on which our shareholders
are entitled to vote.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. George Feidakis, the chairman of our board
of directors, beneficially owns a significant number (but not a majority) of our outstanding common shares as of March 28, 2019.
Please read &ldquo;Item 7.A. Major Shareholders.&rdquo; Until such time that we issue a significant number of securities (which
could occur upon exercise of the warrant issued during the October 2017 private placement or upon conversion of the convertible
note) to persons other than Mr. George Feidakis or entities nor beneficially owned by Mr. George Feidakis, or Mr. George Feidakis
sells all or a portion of his common shares, Mr. George Feidakis may be able to control the outcome of many matters on which our
shareholders are entitled to vote, including the election of directors and other significant corporate actions. The interests
of Mr. George Feidakis may be different from your interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The public market may not continue to
be active and liquid enough for you to resell our common shares in the future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The price of our common shares may be volatile
and may fluctuate due to factors such as:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">actual
    or anticipated fluctuations in our quarterly and annual results and those of other public companies in our industry;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">mergers
    and strategic alliances in the dry bulk shipping industry;</FONT></TD>
    <TD STYLE="width: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">market conditions in the dry bulk shipping industry;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">changes in government regulation;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">shortfalls in our operating results from levels
    forecast by securities analysts;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">announcements concerning us or our competitors;
    and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 10pt">the general state of the securities market.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Furthermore, Mr. George Feidakis, the
chairman of our board of directors, beneficially owns a significant number (but not a majority) of our outstanding common
shares. Please read &ldquo;Item 7.A. Major Shareholders.&rdquo; Where a substantial percentage of the shares of publicly
traded companies is held by a small number of shareholders, the shares may have a lower trading volume than similarly-sized
publicly traded companies. Until such time as we issue a significant number of securities (which could occur upon exercise of
the warrant issued during the October 2017 private placement or upon conversion of the convertible note) to persons other
than Mr. George Feidakis or entities not beneficially owned by Mr. George Feidakis, or Mr. George Feidakis sells all or a
portion of his common shares, we may have a lower trading volume than similarly-sized companies, which means shareholders who
buy or sell relatively small amounts of our common shares could have a disproportionately large impact on our share price,
either positively or negatively, and could thus make our share price more volatile than it otherwise would be. The dry bulk
shipping industry has been highly unpredictable and volatile. The market for common shares in this industry may be equally
volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may have to pay tax on U.S. source
shipping income.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the U.S. Internal Revenue Code of 1986,
as amended, or the Code, 50% of the gross shipping income of a vessel-owning or chartering company that is attributable to transportation
that begins or ends, but that does not both begin and end, in the United States is characterized as U.S. source shipping income
and such income is subject to a 4% U.S. federal income tax without allowance for deductions, unless that corporation qualifies
for exemption from tax under section 883 of the Code and the U.S. Treasury regulations promulgated thereunder, which we refer
to as the Section 883 Exemption, or through the application of a comprehensive income tax treaty between the United States and
the corporation&rsquo;s country of residence. The eligibility of Globus Maritime and our subsidiaries to qualify for the Section
883 Exemption is determined each taxable year and is dependent on certain circumstances related to the ownership of our shares
and on interpretations of existing U.S. Treasury regulations, each of which could change. We can therefore give no assurance that
we will in fact be eligible to qualify for the Section 883 Exemption for all taxable years. In addition, changes to the Code,
the U.S. Treasury regulations or the interpretation thereof by the U.S. Internal Revenue Service, or IRS, or the courts could
adversely affect the ability of Globus Maritime and our subsidiaries to take advantage of the Section 883 Exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are not entitled to the Section 883
Exemption or an exemption under a tax treaty for any taxable year in which any company in the group earns U.S. source shipping
income, any company earning such U.S. source shipping income, would be subject to a 4% U.S. federal income tax on the gross amount
of the U.S. source shipping income for the year (or an effective rate of 2% on shipping income attributable to the transportation
of freight to or from the United States). The imposition of this taxation could have a negative effect on our business and revenues
and would result in decreased earnings available for distribution to our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For a more complete discussion, please read
the section entitled &ldquo;Item 10.E. Taxation&mdash; United States Tax Considerations&mdash; United States Federal Income Taxation
of the Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>U.S. tax authorities could treat us
as a &ldquo;passive foreign investment company,&rdquo; which could result in adverse U.S. federal income tax consequences to U.S.
shareholders.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A foreign corporation will be treated as a
&ldquo;passive foreign investment company,&rdquo; or PFIC, for U.S. federal income tax purposes if either at least 75% of its
gross income for any taxable year consists of certain types of &ldquo;passive income&rdquo; or at least 50% of the average value
of the corporation&rsquo;s assets produce or are held for the production of those types of &ldquo;passive income.&rdquo; For purposes
of these tests, &ldquo;passive income&rdquo; includes dividends, interest and gains from the sale or exchange of investment property,
and rents and royalties other than rents and royalties that are received from unrelated parties in connection with the active
conduct of a trade or business. For purposes of these tests, income derived from the performance of services does not constitute
&ldquo;passive income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">U.S. shareholders of a PFIC are subject to
a disadvantageous U.S. federal income tax regime with respect to the income derived by the PFIC, the distributions they receive
from the PFIC, and the gain, if any, they derive from the sale or other disposition of their shares in the PFIC, unless those
shareholders make an election available under the Code (which election could itself have adverse consequences for such shareholders).
In particular, U.S. shareholders who are individuals would not be eligible for the preferential tax rate on qualified dividends.
Please read &ldquo;Item 10.E. Taxation&mdash;United States Tax Considerations&mdash;United States Federal Income Taxation of United
States Holders&rdquo; for a more comprehensive discussion of the U.S. federal income tax consequences to U.S. shareholders if
we are treated as a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on our current operations and anticipated
future operations, we believe we should not be treated as a PFIC. In this regard, we intend to treat gross income we derive or
are deemed to derive from our time chartering activities as services income, rather than rental income. Accordingly, we believe
that our income from our time chartering activities should not constitute &ldquo;passive income,&rdquo; and that the assets we
own and operate in connection with the production of that income do not constitute assets that produce or are held for the production
of &ldquo;passive income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are legal uncertainties involved in
this determination because there is no direct legal authority under the PFIC rules addressing our current and projected future
operations. Moreover, a case decided in 2009 by the U.S. Court of Appeals for the Fifth Circuit held that, contrary to the position
of the IRS in that case, and for purposes of a different set of rules under the Code, income received under a time charter of
vessels should be treated as rental income rather than services income. If the reasoning of this case were extended to the PFIC
context, the gross income we derive or are deemed to derive from our time chartering activities would be treated as rental income,
and we would be a PFIC unless an active leasing exception applies. Although the IRS has announced that it will not follow the
reasoning of this case, and that it intends to treat the income from standard industry time charters as services income, no assurance
can be given that a U.S. court will not follow the aforementioned case. Moreover, no assurance can be given that we would not
constitute a PFIC for any future taxable year if there were to be changes in our assets, income or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the IRS were to find that we are or have
been a PFIC for any taxable year, our U.S. shareholders will face adverse U.S. tax consequences and information reporting obligations,
as more fully described under &ldquo;Item 10.E. Taxation&mdash;United States Tax Considerations&mdash;United States Federal Income
Taxation of United States Holders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We could face penalties under European
Union, United States or other economic sanctions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business could be adversely impacted if
we are found to have violated economic sanctions under the applicable laws of the European Union, the United States or another
applicable jurisdiction against countries such as Iran, Syria, North Korea and Cuba. U.S. economic sanctions, for example, prohibit
a wide scope of conduct, target numerous countries and individuals, are frequently updated or changed and have vague application
in many situations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Many economic sanctions relate to our business,
including prohibitions on certain kinds of trade with countries, such as exportation or re-exportation of commodities, or prohibitions
against certain transactions with designated nationals who may be operating under aliases or through non-designated companies.
The imposition of Ukrainian-related economic sanctions on Russian persons, first imposed in March 2014, is an example of economic
sanctions with a potentially widespread and unpredictable impact on shipping.&nbsp;Certain of our charterers or other parties
with whom we have entered into contracts regarding our vessels may be affiliated with persons or entities that are the subject
of sanctions imposed by the U.S. government, the European Union and/or other international bodies relating to the annexation of
Crimea by Russia in 2014. If we determine that such sanctions require us to terminate existing contracts or if we are found to
be in violation of such applicable sanctions, our results of operations may be adversely affected or we may suffer reputational
harm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, the U.S. Iran Threat Reduction
Act (which was signed into law in 2012) amended the Exchange Act to require issuers that file annual or quarterly reports under
Section 13(a) of the Exchange Act to include disclosure in their annual and quarterly reports as to whether the issuer or its
affiliates have knowingly engaged in certain activities prohibited by sanctions against Iran or transactions or dealings with
certain identified persons. We are subject to this disclosure requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There can be no assurance that we will be
in compliance with all applicable sanctions and embargo laws and regulations in the future, particularly as the scope of certain
laws may be unclear and may be subject to changing interpretations. Any such violation could result in fines or other penalties
and could severely impact our ability to access U.S. capital markets and conduct our business, and could result in some investors
deciding, or being required, to divest their interest, or not to invest, in us. Even inadvertent violations of economic sanctions
can result in the imposition of material fines and restrictions and could adversely affect our business, financial condition and
results of operations, our reputation, and the market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our vessels may call on ports subject
to economic sanctions or embargoes.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time on charterers&rsquo; instructions,
our vessels may call on ports located in countries subject to sanctions and embargoes imposed by the United States government
and countries identified by the U.S. government as state sponsors of terrorism, such as Iran, Sudan, North Korea, and Syria. The
U.S. sanctions and embargo laws and regulations vary in their application, as they do not all apply to the same covered persons
or proscribe the same activities, and such sanctions and embargo laws and regulations may be amended or strengthened over time.
On May 1, 2012, President Obama signed Executive Order 13608 which prohibits foreign persons from violating or attempting to violate,
or causing a violation of any sanctions in effect against Iran or facilitating any deceptive transactions for or on behalf of
any person subject to U.S. sanctions. Any persons found to be in violation of Executive Order 13608 will be deemed a foreign sanctions
evader and will be banned from all contacts with the United States, including conducting business in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 36; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 14, 2015, the P5+1 (the United States,
United Kingdom, Germany, France, Russia and China) and the EU announced that they reached a landmark agreement with Iran titled
the Joint Comprehensive Plan of Action, or the JCPOA, which was intended to restrict significantly Iran&rsquo;s ability to develop
and produce nuclear weapons while simultaneously easing sanctions directed at non-U.S. persons for conduct involving Iran, but
taking place outside of U.S. jurisdiction and not involving U.S. persons. On January 16, 2016, the United States joined the EU
and the United Nations in lifting a significant number of sanctions on Iran following an announcement by the International Atomic
Energy Agency, or the IAEA, that Iran had satisfied its obligations under the JCPOA. However, on May 8, 2018, President Trump
announced his intention to withdraw the United States from the JCPOA. The withdrawal was effected in stages, culminating in the
complete reimposition of U.S. sanctions on November 5, 2018. As of now, the EU and other parties to the JCPOA have not withdrawn,
and the EU and United Nations sanctions that were lifted have not been reimposed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although we believe that we have been in compliance
with all applicable sanctions and embargo laws and regulations, and intend to maintain such compliance, there can be no assurance
that we will be in compliance in the future as such regulations and sanctions may be amended over time. Any such violation could
result in fines, penalties or other sanctions that could severely impact our ability to access U.S. capital markets and conduct
our business, and could result in some investors deciding, or being required, to divest their interest, or not to invest, in us.
In addition, certain institutional investors may have investment policies or restrictions that prevent them from holding securities
of companies that have contracts with countries identified by the U.S. government as state sponsors of terrorism. The determination
by these investors not to invest in, or to divest from, our common shares may adversely affect the price at which our common shares
trade. Moreover, our charterers may violate applicable sanctions and embargo laws and regulations as a result of actions that
do not involve us or our vessels, and those violations could in turn negatively affect our reputation. In addition, our reputation
and the market for our securities may be adversely affected if we engage in certain other activities, such as entering into charters
with individuals or entities in countries subject to U.S. sanctions and embargo laws that are not controlled by the governments
of those countries, or engaging in operations associated with those countries pursuant to contracts with third parties that are
unrelated to those countries or entities controlled by their governments. Investor perception of the value of our common shares
may be adversely affected by the consequences of war, the effects of terrorism, civil unrest and governmental actions in these
and surrounding countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are subject to Marshall Islands corporations
law, which is not well-developed.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our corporate affairs are governed by our
articles of incorporation, our bylaws and by the Marshall Islands Business Corporations Act, or the BCA. The provisions of the
BCA resemble provisions of the corporation laws of a number of states in the United States. However, there have been few judicial
cases in the Marshall Islands interpreting the BCA. The rights and fiduciary responsibilities of directors under the laws of the
Marshall Islands are not as clearly established as the rights and fiduciary responsibilities of directors under statutes or judicial
precedent in existence in certain United States jurisdictions. The rights of shareholders of corporations incorporated in or redomiciled
into the Marshall Islands may differ from the rights of shareholders of corporations incorporated in the United States. While
the BCA provides that it is to be applied and construed to make the laws of the Marshall Islands, with respect of the subject
matter of the BCA, uniform with the laws of the State of Delaware and other states with substantially similar legislative provisions,
there have been few court cases interpreting the BCA in the Marshall Islands and we cannot predict whether Marshall Islands courts
would reach the same conclusions as United States courts. Thus, you may have more difficulty in protecting your interests in the
face of actions by our management, directors or controlling shareholders than would shareholders of a corporation incorporated
in a United States jurisdiction that has developed a more substantial body of case law in the corporate law area.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>It may be difficult to serve us with
legal process or enforce judgments against us, our directors, our significant shareholders, or our management.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business is operated primarily from our
offices in Greece. In addition, our largest shareholder and a majority of our directors and officers are non-residents of the
United States, and all of our assets and a substantial portion of the assets of these non-residents are located outside the United
States. As a result, it may be difficult or impossible for you to bring an action against us or against these individuals in the
United States if you believe that your rights have been infringed under securities laws or otherwise. You may also have difficulty
enforcing, both within and outside of the United States, judgments you may obtain in the United States courts against us or these
persons in any action, including actions based upon the civil liability provisions of United States federal or state securities
laws. There is also substantial doubt that the courts of the Marshall Islands or Greece would enter judgments in original actions
brought in those courts predicated on United States federal or state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 37; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The international nature of our operations
may make the outcome of any bankruptcy proceedings difficult to predict.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We redomiciled into the Marshall Islands and
our subsidiaries are incorporated under the laws of the Marshall Islands or Malta, we have limited operations in the United States
and we maintain limited assets, if any, in the United States. Consequently, in the event of any bankruptcy, insolvency, liquidation,
dissolution, reorganization or similar proceeding involving us or any of our subsidiaries, bankruptcy laws other than those of
the United States could apply. The Marshall Islands does not have a bankruptcy statute or general statutory mechanism for insolvency
proceedings. If we become a debtor under U.S.&nbsp;bankruptcy law, bankruptcy courts in the United States may seek to assert jurisdiction
over all of our assets, wherever located, including property situated in other countries. There can be no assurance, however,
that we would become a debtor in the United States, or that a U.S.&nbsp;bankruptcy court would accept, or be entitled to accept,
jurisdiction over such a bankruptcy case, or that courts in other countries that have jurisdiction over us and our operations
would recognize a U.S.&nbsp;bankruptcy court&rsquo;s jurisdiction if any other bankruptcy court would determine it had jurisdiction.
These factors may delay or prevent us from entering bankruptcy in the United States and may affect the ability of our shareholders
to receive any recovery following our bankruptcy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We, or our large shareholders, may sell
additional securities in the future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The market price of our common shares could
decline due to sales of a large number of our securities in the market, including sales of shares by our large shareholders, or
the perception that these sales could occur. These sales could also occur if our warrant holder exercises their warrants, or our
convertible note holder converts the convertible note, and either sells the resulting common shares. These sales could also make
it more difficult or impossible for us to sell equity securities in the future at a time and price that we deem appropriate to
raise funds through future offerings of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may issue additional common shares,
including Class B shares, or other equity securities without your approval. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may issue additional common shares, including
Class B shares, or other equity securities of equal or senior rank in the future in connection with, among other things, future
vessel acquisitions, repayment of outstanding indebtedness or our equity incentive plan, without shareholder approval, in a number
of circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our issuance of additional common shares (which
will occur each time a warrant holder exercises a warrant or a convertible note holder converts their note), including Class B
shares, or other equity securities of equal or senior rank would have the following effects:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; padding-left: 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;&#9;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our existing shareholders&rsquo; proportionate ownership interest
    in us will decrease;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;&#9;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the amount of cash available for dividends payable on our common
    shares may decrease;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;&#9;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the relative voting strength of each previously outstanding
    share may be diminished; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;&#9;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">the market price of our common shares
        may decline, and we could be forced to delist our shares from Nasdaq.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Furthermore, we may sell securities at less
than the prevailing market price, and are obligated to do so pursuant to our convertible note under certain circumstances. Because
we are a foreign private issuer, we are not bound by any Nasdaq rule that requires shareholder approval for certain issuances
of our securities. We therefore can issue securities in such amounts and at such times as we feel appropriate, all without shareholder
approval. See &ldquo;Item 16G. Corporate Governance.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>A cyber-attack could materially disrupt our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We rely on information technology systems
and networks in our operations and administration of our business. Information systems are vulnerable to security breaches by
computer hackers and cyber terrorists. We rely on industry accepted security measures and technology to securely maintain confidential
and proprietary information maintained on our information systems. However, these measures and technology may not adequately prevent
security breaches. Our business operations could be targeted by individuals or groups seeking to sabotage or disrupt our information
technology systems and networks, or to steal data. A successful cyber-attack could materially disrupt our operations, including
the safety of our operations, or lead to unauthorized release of information or alteration of information in our systems. Any
such attack or other breach of our information technology systems could have a material adverse effect on our business and results
of operations. In addition, the unavailability of the information systems or the failure of these systems to perform as anticipated
for any reason could disrupt our business and could result in decreased performance and increased operating costs, causing our
business and results of operations to suffer. Any significant interruption or failure of our information systems or any significant
breach of security could adversely affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 38; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><A NAME="a_006"></A><B>Item 4.&nbsp;&nbsp;Information on the Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>A.&nbsp;&nbsp;History and Development
of the Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We originally incorporated as Globus Maritime
Limited on July 26, 2006 pursuant to the Companies (Jersey) Law 1991 (as amended), and began operations in September 2006. Following
the conclusion of our initial public offering on June 1, 2007, our common shares were listed on the London Stock Exchange&rsquo;s
Alternative Investment Market, or AIM, under the ticker &ldquo;GLBS.L.&rdquo; On July 29, 2010, we effected a one-for-four reverse
stock split, with our issued share capital resulting in 7,240,852 common shares of $0.004 each.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 24, 2010, we redomiciled into
the Marshall Islands pursuant to the BCA and a resale registration statement for our common shares was declared effective by the
SEC. Once the resale registration statement was declared effective by the SEC, our common shares began trading on the Nasdaq Global
Market under the ticker &ldquo;GLBS.&rdquo; Our common shares were suspended from trading on the AIM on November 24, 2010 and
were delisted from the AIM on November 26, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 30, 2011, we completed a follow-on
public offering in the United States under the Securities Act of 1933, as amended, which we refer to as the Securities Act, of
2,750,000 common shares at a price of $8.00 per share, the net proceeds of which amounted to approximately $20 million. (These
figures do not reflect the 4-1 reverse stock split which occurred in October 2016 or the 10-1 reverse stock split which occurred
in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 11, 2016, our common shares began
trading on the Nasdaq Capital Market instead of the Nasdaq Global Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On October 20, 2016, we
effected a four-for-one reverse stock split which reduced the number of outstanding common shares from 10,510,741 to 2,627,674
shares (adjustments were made based on fractional shares). (These figures do not reflect the 10-1 reverse stock split which occurred
in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On February 8, 2017, we
entered into a Share and Warrant Purchase Agreement pursuant to which we sold for $5 million an aggregate of 5 million of our
common shares and warrants to purchase 25 million of our common shares at a price of $1.60 per share (subject to adjustment) to
a number of investors in a private placement. (These figures do not reflect the 10-1 reverse stock split which occurred in October
2018.) These securities were issued in transactions exempt from registration under the Securities Act. The following day, we entered
into a registration rights agreement with the Purchasers providing them with certain rights relating to registration under the
Securities Act of the Shares and the common shares underlying the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">In connection with the closing
of the February 2017 private placement, we also entered into two loan amendment agreements with existing lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">One loan amendment agreement
was entered into by the Company with Firment Trading Limited (&ldquo;Firment&rdquo;), a related party to the Company and the lender
under the Revolving Credit Facility dated December 16, 2014 (as amended, the &ldquo;Firment Credit Facility&rdquo;), which then
had an outstanding principal amount of $18,523,787. Firment released an amount equal to $16,885,000 (but left an amount equal
to $1,638,787 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment
Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment, 16,885,000 common shares and a warrant
to purchase 6,230,580 common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing of the February
2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. (These figures do
not reflect the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The other loan amendment
agreement was entered into by the Company with Silaner Investments Limited, a related party to the Company and the lender of the
Silaner Credit Facility. Silaner released an amount equal to the outstanding principal of $3,115,000 (but left an amount equal
to $74,048 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner
Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner, 3,115,000 common shares and a warrant
to purchase 1,149,437 common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing of the February
2017 private placement, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. (These figures do
not reflect the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 39; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Each of the above mentioned
warrants are or were exercisable for 24 months after their respective issuance. Under the terms of the warrants, all warrant holders
(other than Firment Shipping Inc., which had no such restriction in its warrants) could not exercise their warrants to the extent
such exercise would cause such warrant holder, together with its affiliates and attribution parties, to beneficially own a number
of common shares which would exceed 4.99% (which may be increased, but not to exceed 9.99%) of our then outstanding common shares
immediately following such exercise, excluding for purposes of such determination common shares issuable upon exercise of the
warrants which have not been exercised. This provision, which we call the &ldquo;Blocker Provision&rdquo;, does not limit a warrant
holder from acquiring up to 4.99% of our common shares, selling all of their common shares, and re-acquiring up to 4.99% of our
common shares. The warrants that we sold in February and October 2017 each contained a provision whereby the relevant holder has
the right to a cashless exercise if, six months after its issuance, a registration statement covering the resale of the shares
issuable thereunder is not effective. If for any reason we are unable to keep such a registration statement active, we could be
required to issue shares without receiving cash consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On October 19, 2017, we
entered into a Share and Warrant Purchase Agreement pursuant to which we sold for $2.5 million an aggregate of 2.5 million of
our common shares and a warrant to purchase 12.5 million of our common shares at a price of $1.60 per (subject to adjustment)
share to an investor in a private placement. These securities were issued in transactions exempt from registration under the Securities
Act of 1933, as amended. On that day, we also entered into a registration rights agreement with the purchaser providing it with
certain rights relating to registration under the Securities Act of the 2.5 million common shares issued in connection with the
October 2017 Private Placement and the common shares underlying the October 2017 Warrant. (These figures do not reflect the 10-1
reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Under the terms of the October
2017 Warrant, the warrant holder may not exercise its warrant to the extent such exercise would cause the warrant holder, together
with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may
be increased upon no less than 61 days&rsquo; notice, but not to exceed 9.99%) of our then outstanding common shares immediately
following such exercise, excluding for purposes of such determination common shares issuable upon exercise of the October 2017
Warrant which have not been exercised. This provision does not limit the warrant holder from acquiring up to 4.99% of our common
shares, selling all of its common shares, and re-acquiring up to 4.99% of our common shares. This &ldquo;Blocker Provision&rdquo;
is identical to the Blocker Provision contained in the warrants purchased in February 2017 (other than in the warrants granted
to Silaner Investments Limited and Firment Trading Limited, which had no such provision). The October 2017 Warrant is exercisable
for 24 months after its issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On October 15, 2018, we
effected a ten-for-one reverse stock split which reduced the number of outstanding common shares from 32,065,077 to 3,206,495
shares (adjustments were made based on fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">In November 2018, we entered
into a credit facility for up to $15 million with Firment Shipping Inc., a related party to us, for the purpose of financing our
general working capital needs. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity
on November 19, 2020. We have the right to drawdown any amount up to $15 million or prepay any amount in multiples of $100,000.
Any prepaid amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts
is charged at 7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable
the last day of a period of three months after the Drawdown Date, after this period in case of failure to pay any sum due a default
interest of 2% per annum above the regular interest is charged. We have also the right, in our sole option, to convert in whole
or in part the outstanding unpaid principal amount and accrued but unpaid interest under this Agreement into Common stock. The
Conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the Common
Stock on the Principal Market on any Trading Day during the period beginning at 9.30 a.m. New York City time and ending at 4.00
p.m. over the Pricing Period multiplied by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive Trading Days
immediately preceding the date on which the Conversion Notice was executed or (ii) $2.80.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, our issued and outstanding
capital stock consisted of 3,209,327 common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 13, 2019, the Company signed a securities
purchase agreement with a private investor and on March 13, 2019 issued, for gross proceeds of $5 million, a senior convertible
note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par value $0.004
per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures
upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under the Securities
Act. As of the date hereof, no conversion of the Convertible Note has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Convertible Note provides for interest
to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&rsquo;s issuance unless
the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares of the
Company, if certain conditions described within the Convertible Note are met. For more information, please read &ldquo;&mdash;Item
5. Operating and Financial Review and Prospects&mdash;A. Operating Results.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 40; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our executive office is located at the office
of Globus Shipmanagement Corp., which we refer to as our Manager, at 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Athens,
Greece. Our telephone number is +30 210 960 8300. Our registered agent in the Marshall Islands is The Trust Company of the Marshall
Islands, Inc. and our registered address in the Marshall Islands is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro,
Marshall Islands MH96960. We maintain our website at www.globusmaritime.gr. Information that is available on or accessed through
our website does not constitute part of, and is not incorporated by reference into, this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2010, our fleet comprised
a total of five dry bulk vessels, consisting of one Panamax, three Supramaxes and one Kamsarmax, with a weighted average age of
approximately 4.0 years and a total carrying capacity of 319,664 dwt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2011, we purchased a 2007-built Supramax
vessel for $30.3 million. The vessel was delivered in September 2011 and was named <I>Sun Globe</I>. In May 2011, we purchased
a 2005-built Panamax vessel for $31.4 million. The vessel was delivered in June 2011 and was named <I>Moon Globe.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2014 and 2013 our fleet
comprised a total of seven dry bulk vessels, consisting of two Panamax, four Supramaxes and one Kamsarmax, with a weighted average
age of approximately 8.1 and 7.1 years, respectively, and a total carrying capacity of 452,886 dwt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In July 2015, we sold &ldquo;<I>Tiara Globe</I>&rdquo;,
a 1998-built Panamax. As of December 31, 2015, our fleet comprised a total of six dry bulk vessels, consisting of one Panamax,
four Supramaxes and one Kamsarmax, with an average age of 7.4 years and carrying capacity of 379,958 dwt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">In March 2016, as part of
a settlement of the Kelty Loan Agreement, outstanding indebtedness of $15.65 million was released in exchange for $6.86 million
of sale proceeds from the sale of the shares of Kelty Marine Ltd. (the owner of <I>m/v Energy Globe)</I> plus overdue interest
of $40,708. The weighted average age of the vessels we owned as of December 31, 2016 was 8.8 years, and their carrying capacity
was 300,571 dwt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our fleet is currently comprised of a total
of five dry bulk vessels consisting of one Panamax and four Supramaxes. The weighted average age of the vessels we owned as of
December 31, 2018 was 10.8 years, and their carrying capacity was 300,571 dwt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our capital expenditures, which principally
consist of purchasing, operating and maintaining dry bulk vessels, for the previous three fiscal years, consisted of deferred
drydocking costs of $2.1 million in 2018, deferred drydocking costs of $1.0 million in 2017, and deferred drydocking costs of
$0.5 million in 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>B.&nbsp;&nbsp;Business Overview</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are an integrated dry bulk shipping company,
providing marine transportation services on a worldwide basis. We own, operate and manage a fleet of dry bulk vessels that transport
iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. We intend to grow our fleet
through timely and selective acquisitions of modern vessels in a manner that we believe will provide an attractive return on equity
and will be accretive to our earnings and cash flow based on anticipated market rates at the time of purchase. There is no guarantee
however, that we will be able to find suitable vessels to purchase or that such vessels will provide an attractive return on equity
or be accretive to our earnings and cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our operations are managed by our Athens,
Greece-based wholly owned subsidiary, Globus Shipmanagement Corp., which we refer to as our Manager, which provides in-house commercial
and technical management for our vessels and provides consulting services for an affiliated ship-management company. Our Manager
previously entered into a ship management agreement with each of our wholly owned vessel-owning subsidiaries to provide services
that include managing day-to-day vessel operations, such as supervising the crewing, supplying, maintaining of vessels and other
services, which agreement terminated. In 2016 our Manager entered into a consultancy agreement with an affiliated ship-management
company, where our Manager provided consulting services to the affiliated ship-management company. This agreement also terminated
on January 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 41; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table presents information concerning the vessels
we own:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Vessel</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Year<BR> Built</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Flag</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Direct<BR> Owner</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Shipyard</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Vessel&nbsp;Type</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Delivery<BR> Date</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Carrying<BR> Capacity<BR> (dwt)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 15%; font-style: italic; text-align: center">m/v River Globe</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">2007</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: center">Marshall Islands</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center">Devocean Maritime Ltd.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: center">Yangzhou Dayang</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">Supramax</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">December 2007</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">53,627</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: center">m/v Sky Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Domina Maritime Ltd.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Taizhou Kouan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Supramax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,855</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: center">m/v Star Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Dulac Maritime S.A.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Taizhou Kouan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Supramax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,867</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: center">m/v Moon Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2005</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Artful Shipholding S.A.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Hudong-Zhonghua</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Panamax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,432</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: center">&nbsp;m/v Sun Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Malta</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Longevity Maritime Limited</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Tsuneishi Cebu</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Supramax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;September 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,790</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">Total:</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We own each of our vessels through separate,
wholly owned subsidiaries, four of which are incorporated in the Marshall Islands, and one of which is incorporated in Malta.
All of our Supramax vessels are geared. Geared vessels can operate in ports with minimal shore-side infrastructure. Due to the
ability to switch between various dry bulk cargo types and to service a wider variety of ports, the day rates for geared vessels
tend to have a premium.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We budget 20 days per year in drydocking per
vessel. Actual length will vary based on the condition of each vessel, shipyard schedules and other factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Employment of our Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our strategy is to employ our vessels on a
mix of all types of charter contracts, including bareboat charters, time charters and spot charters. We believe this strategy
provides the cash flow stability, reduced exposure to market downturns and high utilization rates of the charter market, while
at the same time enabling us to benefit from periods of increasing spot market rates. We may, however, seek to employ a greater
portion of our fleet on the spot market or on time charters with longer durations, should we believe it to be in our best interests.
In addition, we generally seek to stagger the expiration dates of our charters to reduce exposure to volatility in the shipping
cycle when our vessels come off of charter. We also continually monitor developments in the dry bulk shipping industry and, subject
to market demand, will adjust the number of vessels on charters and the charter periods for our vessels according to market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We and our Manager have developed relationships
with a number of international charterers, vessel brokers, financial institutions, insurers and shipbuilders. We have also developed
a network of relationships with vessel brokers who help facilitate vessel charters and acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On the date of the filing of this Annual Report
on 20-F, all of our vessels were employed on time charters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each of our vessels travels across the world
and not on any particular route. The charterers of our vessels, whether time, bareboat or on the spot market, select the locations
to which our vessels travel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Time Charter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A time charter is a contract for the use of
a vessel for a fixed period of time at a specified daily rate. Under a time charter, the vessel owner provides crewing, insuring,
repairing and maintenance and other services related to the vessel&rsquo;s operation, the cost of which is included in the daily
rate, and the customer is responsible for substantially all of the vessel voyage costs, including the cost of bunkers (fuel oil)
and canal and port charges. The owner also pays commissions typically ranging from 0% to 6.25% of the total daily charter hire
rate of each charter to unaffiliated ship brokers and to in-house brokers associated with the charterer, depending on the number
of brokers involved with arranging the charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 42; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Basic Hire Rate and
Term</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Basic hire rate&rdquo; refers to the
basic payment from the customer for the use of the vessel. The hire rate is generally payable semi-monthly or 15 days, in advance,
in U.S. dollars as specified in the charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Off-hire</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When the vessel is &ldquo;off-hire,&rdquo;
the charterer generally is not required to pay the basic hire rate, and we are responsible for all costs. Prolonged off-hire may
lead to vessel substitution or termination of the time charter. A vessel generally will be deemed off-hire if there is a loss
of time due to, among other things, operational deficiencies; drydocking for examination or painting the bottom; equipment breakdowns;
damages to the hull; or similar problems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Ship Management and
Maintenance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are responsible for the technical management
of the vessel and for maintaining the vessel, periodic drydocking, cleaning and painting and performing work required by regulations.
Globus Shipmanagement provides the technical, commercial and day-to-day operational management of our vessels. Technical management
includes crewing, maintenance, repair and drydockings. During the 2018 year, we paid Globus Shipmanagement $700 per vessel per
day. All fees payable to Globus Shipmanagement for vessels that we own are eliminated upon consolidation of our accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2016, our Manager entered into a consultancy
agreement with an affiliated ship-management company and received a $1,000 per day fee for these services. The agreement was terminated
on January 31, 2017. These fees will not be eliminated upon consolidation of our accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Termination</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are generally entitled to suspend performance
under the time charter if the customer defaults in its payment obligations. Either party may terminate the charter in the event
of war in specified countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Commissions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2018, we
paid commissions ranging from 5% to 6.25% relevant to each time charter agreement then in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Bareboat Charter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A bareboat charter is a contract pursuant
to which the vessel owner provides the vessel to the charterer for a fixed period of time at a specified daily rate, and the charterer
provides for all of the vessel&rsquo;s operating expenses. The charterer undertakes to maintain the vessel in a good state of
repair and efficient operating condition and drydock the vessel during this period as per the classification society requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Redelivery</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon the expiration of a bareboat charter,
typically the charterer must redeliver the vessel in as good structure, state, condition and class as that in which the vessel
was delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Ship Management and
Maintenance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under a bareboat charter, the charterer is
responsible for all of the vessel&rsquo;s operating expenses, including crewing, insuring, maintaining and repairing the vessel,
any drydocking costs, and the stores, lube oils and communication expenses. Under a bareboat charter, the charterer is also responsible
for the voyage costs, and generally assumes all risk of operation. The charterer covers the costs associated with the vessel&rsquo;s
special surveys and related drydocking falling within the charter period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Commissions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Commissions on bareboat charters typically
range from 0% to 3.75%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 43; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Our Customers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We seek to charter our vessels to customers
who we perceive as creditworthy thereby minimizing the risk of default by our charterers. We also try to select charterers depending
on the type of product they want to carry and the geographical areas in which they tend to trade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our assessment of a charterer&rsquo;s financial
condition and reliability is an important factor in negotiating employment for our vessels. We generally charter our vessels to
operators, trading houses (including commodities traders), shipping companies and producers and government-owned entities and
generally avoid chartering our vessels to companies we believe to be speculative or undercapitalized entities. Since our operations
began in September 2006, our customers have included Hyundai Glovis Co. Ltd., Dampskibsselskabet NORDEN A/S, ED &amp; F Man Shipping
Limited, Transgrain and Far Eastern Silo and Shipping (Panama) S.A. In addition, during the periods when some of our vessels were
trading on the spot market, they have been chartered to charterers such as Cargill International SA, Oldendorff GmbH &amp; Co
KG, Western Bulk Pte. Ltd., Ausca Shipping HK Limited and others, thus expanding our customer base.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Competition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business fluctuates in line with the main
patterns of trade of the major dry bulk cargoes and varies according to changes in the supply and demand for these items. We operate
in markets that are highly competitive and based primarily on supply and demand. We compete for charters on the basis of price,
vessel location, size, age and condition of the vessel, as well as on our reputation as an owner and operator. We compete with
other owners of dry bulk vessels in the Panamax, Supramax and Kamsarmax dry bulk vessels, but we also compete with owners for
the purchase and sale of vessels of all sizes. Those competitors may be better capitalized or have more liquidity than we do.
In this period of significantly depressed pricing and over capacity, better liquidity may be a major competitive advantage, and
we believe that some of our competitors may be better capitalized than we are.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ownership of dry bulk vessels is highly fragmented.
It is likely that we will face substantial competition for long-term charter business from a number of experienced companies.
Many of these competitors will have larger dry bulk vessel fleets and greater financial resources than us, which may make them
more competitive. It is also likely that we will face increased numbers of competitors entering into our transportation sectors,
including in the dry bulk sector. Many of these competitors have strong reputations and extensive resources and experience. Increased
competition may cause greater price competition, especially for long-term charters. We believe that no single competitor has a
dominant position in the markets in which we compete.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The process for obtaining longer term time
charters generally involves a lengthy and intensive screening and vetting process and the submission of competitive bids. In addition
to the quality and suitability of the vessel, longer term shipping contracts may be awarded based upon a variety of other factors
relating to the vessel operator, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">environmental,
                                         health and safety record;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">compliance
                                         with regulatory industry standards;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reputation
                                         for customer service, technical and operating expertise;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">shipping
                                         experience and quality of vessel operations, including cost-effectiveness;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">quality,
                                         experience and technical capability of crews;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         ability to finance vessels at competitive rates and overall financial stability;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">relationships
                                         with shipyards and the ability to obtain suitable berths;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">construction
                                         management experience, including the ability to procure on-time delivery of new vessels
                                         according to customer specifications;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">willingness
                                         to accept operational risks pursuant to the charter, such as allowing termination of
                                         the charter for force majeure events; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">competitiveness
                                         of the bid in terms of overall price.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 44; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of these factors, we may be unable
to expand our relationships with existing customers or obtain new customers for long-term time charters on a profitable basis,
if at all. However, even if we are successful in employing our vessels under longer term charters, our vessels will not be available
for trading on the spot market during an upturn in the market cycle, when spot trading may be more profitable. If we cannot successfully
employ our vessels in profitable charters, our results of operations and operating cash flow could be materially adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Dry Bulk Shipping Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The world dry bulk fleet is generally divided
into six major categories, based on a vessel&rsquo;s cargo carrying capacity. These categories consist of: Handysize, Handymax/Supramax,
Panamax, Kamsarmax, Capesize and Very Large Ore Carrier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>Handysize</I>. <I>&nbsp;</I>Handysize vessels have a carrying capacity of up to 39,999 dwt.
These vessels are primarily involved in carrying minor bulk cargoes. Increasingly, vessels of this type operate on regional trading
routes, and may serve as trans-shipment feeders for larger vessels. Handysize vessels are well suited for small ports with length
and draft restrictions. Their cargo gear enables them to service ports lacking the infrastructure for cargo loading and unloading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>Handymax/Supramax</I>. Handymax vessels have a carrying capacity of between 40,000 and 59,999
dwt. These vessels operate on a large number of geographically dispersed global trade routes, carrying primarily iron ore, coal,
grains and minor bulks. Within the Handymax category there is also a sub-sector known as <I>Supramax</I>. Supramax bulk vessels
are vessels between 50,000 to 59,999 dwt, normally offering cargo loading and unloading flexibility with on-board cranes, while
at the same time possessing the cargo carrying capability approaching conventional Panamax bulk vessels. Hence, the earnings potential
of a Supramax dry bulk vessel, when compared to a conventional Handymax vessel of 45,000 dwt, is greater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>Panamax</I>. Panamax vessels have a carrying capacity of between 60,000 and 79,999 dwt. These
vessels carry coal, grains, and, to a lesser extent, minor bulks, including steel products, forest products and fertilizers. The
term &ldquo;Panamax&rdquo; refers to vessels that were able to pass through the Panama Canal before the Panama Canal was expanded
in June 2016 (to allow vessels of up to 120,000 dwt). Panamax vessels are more versatile than larger vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>Kamsarmax</I>. Kamsarmax vessels typically have a carrying capacity of between 80,000 and 109,999
dwt. These vessels tend to be shallower and have a larger beam than a standard Panamax vessel with a higher cubic capacity. They
have been designed specifically for loading high cubic cargoes from draught restricted ports. The term Kamsarmax stems from Port
Kamsar in Guinea, where large quantities of bauxite are exported from a port with only 13.5 meter draught and a 229 meter length
overall restriction, but no beam restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>Capesize</I>. Capesize vessels have carrying capacities of between 110,000 and 199,999 dwt.
Only the largest ports around the world possess the infrastructure to accommodate vessels of this size. Capesize vessels are mainly
used to transport iron ore or coal and, to a lesser extent, grains, primarily on long-haul routes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <I>VLOC</I>. Very large ore carriers are in excess of 200,000 dwt. VLOCs are built to exploit
economies of scale on long-haul iron ore routes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The supply of dry bulk shipping capacity,
measured by the amount of suitable vessel tonnage available to carry cargo, is determined by the size of the existing worldwide
dry bulk fleet, the number of new vessels on order, the scrapping of older vessels and the number of vessels out of active service
(i.e., laid up or otherwise not available for hire). In addition to prevailing and anticipated freight rates, factors that affect
the rate of newbuilding, scrapping and laying-up include newbuilding prices, secondhand vessel values in relation to scrap prices,
costs of bunkers and other voyage expenses, costs associated with classification society surveys, normal maintenance and insurance
coverage, the efficiency and age profile of the existing fleets in the market and government and industry regulation of marine
transportation practices. The supply of dry bulk vessels is not only a result of the number of vessels in service, but also the
operating efficiency of the fleet. Dry bulk trade is influenced by the underlying demand for the dry bulk commodities which, in
turn, is influenced by the level of worldwide economic activity. Generally, growth in gross domestic product and industrial production
correlate with peaks in demand for marine dry bulk transportation services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dry bulk vessels are one of the most versatile
elements of the global shipping fleet in terms of employment alternatives. They seldom operate on round trip voyages with high
ballasting times. Rather, they often participate in triangular or multi-leg voyages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 45; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Charter Rates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the time charter market, rates vary depending
on the length of the charter period and vessel specific factors such as age, speed, size and fuel consumption. In the voyage charter
market, rates are influenced by cargo size, commodity, port dues and canal transit fees, as well as delivery and redelivery regions.
In general, a larger cargo size is quoted at a lower rate per ton than a smaller cargo size. Routes with costly ports or canals
generally command higher rates. Voyages loading from a port where vessels usually discharge cargo, or discharging from a port
where vessels usually load cargo, are generally quoted at lower rates. This is because such voyages generally increase vessel
efficiency by reducing the unloaded portion (or ballast leg) that is included in the calculation of the return charter to a loading
area.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Within the dry bulk shipping industry, the
freight rate indices issued by the Baltic Exchange in London are the references most likely to be monitored. These references
are based on actual charter hire rates under charters entered into by market participants as well as daily assessments provided
to the Baltic Exchange by a panel of major shipbrokers. The Baltic Exchange, an independent organization comprised of shipbrokers,
shipping companies and other shipping players, provides daily independent shipping market information and has created freight
rate indices reflecting the average freight rates (that incorporate actual business concluded as well as daily assessments provided
to the exchange by a panel of independent shipbrokers) for the major bulk vessel trading routes. These indices include the Baltic
Panamax Index, the index with the longest history and, more recently, the Baltic Capesize Index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Charter (or hire) rates paid for dry bulk
vessels are generally a function of the underlying balance between vessel supply and demand. Over the past 25 years, dry bulk
cargo charter rates have passed through cyclical phases and changes in vessel supply and demand have created a pattern of rate
&ldquo;peaks&rdquo; and &ldquo;troughs.&rdquo; Generally, spot/voyage charter rates will be more volatile than time charter rates,
as they reflect short term movements in demand and market sentiment. The BDI remained significantly depressed from 2008-2017.
In 2018 the BDI was relatively stable and ranged from 948 on September 21, 2018 to as high as 1,774 on June 7, 2018. The BDI had
a decreasing trend during the first two months of 2019 reaching as low as 595 on February 11, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Vessel Prices</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Newbuilding prices increased significantly
after 2002, due to tightness in shipyard capacity, high steel prices, rising labor cost, high levels of new ordering and stronger
freight rates. However, with the sudden and steep decline in freight rates after August 2008 and lack of new vessel ordering,
new-building vessel values entered a downward trend and have continued to gradually decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In broad terms, the secondhand market is affected
by both the newbuilding prices as well as the overall freight expectations and sentiment observed at any given time. The steep
increase in newbuilding prices and the strength of the charter market have also affected values, to the extent that prices rose
sharply in 2004 and 2005, before dipping in the early part of 2006, only to rise thereafter to new highs in the first half of
2008. However, the sudden and sharp downturn in freight rates since August 2008 has also had a very negative impact on secondhand
values which have continued to gradually decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Seasonality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our fleet consists of dry bulk vessels that
operate in markets that have historically exhibited seasonal variations in demand and, as a result, in charter rates. The dry
bulk sector is typically stronger in the fall and winter months in anticipation of increased consumption of coal and other raw
materials in the northern hemisphere during the winter months. Such seasonality will affect the rates we obtain on the vessels
in our fleet that operate on the spot market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Permits and Authorizations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are required by various governmental and
quasi-governmental agencies to obtain certain permits, licenses and certificates with respect to our vessels. The kinds of permits,
licenses and certificates required depend upon several factors, including the commodity transported, the waters in which the vessel
operates, the nationality of the vessel&rsquo;s crew and the age of a vessel. We have been able to obtain all permits, licenses
and certificates currently required to permit our vessels to operate. Additional laws and regulations, environmental or otherwise,
may be adopted which could limit our ability to do business or increase our cost of doing business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Disclosure of Activities pursuant to
Section&nbsp;13(r) of the U.S. Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Section&nbsp;219
of the Iran Threat Reduction and Syria Human Rights Act of 2012 added Section&nbsp;13(r) to the Exchange Act. Section&nbsp;13(r)
requires an issuer to disclose whether it or any of its affiliates knowingly engaged in certain activities, transactions or dealings
relating to Iran. Disclosure is required even where the activities, transactions or dealings are conducted in compliance with
applicable law. Provided in this section is information concerning the activities of us and our affiliates that occurred in 2018
and which we believe may be required to be disclosed pursuant to Section&nbsp;13(r) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In 2018, our vessels
did not call on any port call in Iran.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Our charter party
agreements for our vessels restrict the charterers from calling in Iran in violation of U.S. sanctions, or carrying any cargo
to Iran which is subject to U.S. sanctions. However, there can be no assurance that our vessels will not, from time to time in
the future on charterer's instructions, perform voyages which would require disclosure pursuant to Exchange Act Section 13(r).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">January 16, 2016 was &ldquo;implementation
day&rdquo; under the Joint Comprehensive Plan of Action (&ldquo;JCPOA&rdquo;) among the P5+1 (China, France, Germany, Russia,
the United Kingdom, and the United States), the E.U., and Iran to ensure that Iran&rsquo;s nuclear program will be exclusively
peaceful, and the United States and the E.U. lifted nuclear-related sanctions on Iran. However, on May 8, 2018, President Trump
announced his intention to withdraw the United States from the JCPOA. The withdrawal was effected in stages, culminating in the
complete reimposition of U.S. sanctions on November 5, 2018. As of now, the EU and other parties to the JCPOA have not withdrawn,
and the EU and United Nations sanctions that were lifted have not been reimposed. We intend to continue to charter our vessels
to charterers and sub-charterers, including, as the case may be, Iran-related parties, who may make, or may sub-let the vessels
to sub-charterers who may make, port calls to Iran, so long as the activities continue to be permissible and not sanctionable
under applicable U.S. and E.U. and other applicable laws (including U.S. &ldquo;secondary sanctions&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Inspection by Classification Societies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Every oceangoing vessel must be &ldquo;classed&rdquo;
by a classification society. The classification society certifies that the vessel is &ldquo;in class,&rdquo; signifying that the
vessel has been built and maintained in accordance with the rules of the classification society and complies with applicable rules
and regulations of the vessel&rsquo;s country of registry and the international conventions of which that country is a member.
In addition, where surveys are required by international conventions and corresponding laws and ordinances of a flag state, the
classification society will undertake them on application or by official order, acting on behalf of the authorities concerned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The classification society also undertakes
on request other surveys and checks that are required by regulations and requirements of the flag state. These surveys are subject
to agreements made in each individual case and/or to the regulations of the country concerned. For maintenance of the class certification,
regular and extraordinary surveys of hull, machinery, including the electrical plant, and any special equipment classed are required
to be performed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Annual
                                         Surveys</I>. For seagoing vessels, annual surveys are conducted for the hull and the
                                         machinery, including the electrical plant and where applicable for special equipment
                                         classed, at intervals of 12 months from the date of commencement of the class period
                                         indicated in the certificate.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Intermediate
                                         Surveys</I>. Extended annual surveys are referred to as intermediate surveys and typically
                                         are conducted two and one-half years after commissioning and each class renewal. Intermediate
                                         surveys may be carried out on the occasion of the second or third annual survey.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Class
                                         Renewal Surveys</I>. Class renewal surveys, also known as special surveys, are carried
                                         out for the vessel&rsquo;s hull, machinery, including the electrical plant, and for any
                                         special equipment classed, at the intervals indicated by the character of classification
                                         for the hull. At the special survey the vessel is thoroughly examined, including audio-gauging
                                         to determine the thickness of the steel structures. Should the thickness be found to
                                         be less than class requirements, the classification society would prescribe steel renewals.
                                         The classification society may grant a one-year grace period for completion of the special
                                         survey. Substantial amounts of money may have to be spent for steel renewals to pass
                                         a special survey if the vessel experiences excessive wear and tear. In lieu of the special
                                         survey every four or five years, depending on whether a grace period was granted, a shipowner
                                         has the option of arranging with the classification society for the vessel&rsquo;s hull
                                         or machinery to be on a continuous survey cycle, in which every part of the vessel would
                                         be surveyed within a five-year cycle. At an owner&rsquo;s application, the surveys required
                                         for class renewal may be split according to an agreed schedule to extend over the entire
                                         period of class. This process is referred to as continuous class renewal.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All areas subject to survey as defined by
the classification society are required to be surveyed at least once per class period, unless shorter intervals between surveys
are prescribed elsewhere. The period between two subsequent surveys of each area must not exceed five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Most insurance underwriters make it a condition
for insurance coverage that a vessel be certified as &ldquo;in class&rdquo; by a classification society that is a member of the
International Association of Classification Societies. All the vessels that we own and operate are certified as being &ldquo;in
class&rdquo; by Nippon Kaiji Kyokai (Class NK), DNV GL or Bureau Veritas. Typically, all new and secondhand vessels that we purchase
must be certified &ldquo;in class&rdquo; prior to their delivery under our standard purchase contracts and memoranda of agreement.
Under our standard purchase contracts, unless negotiated otherwise, if the vessel is not certified on the date of closing, we
would have no obligation to take delivery of the vessel. Although we may not have an obligation to accept any vessel that is not
certified on the date of closing, we may determine nonetheless to purchase the vessel, should we determine it to be in our best
interests. If we do so, we may be unable to charter such vessel after we purchase it until it obtains such certification, which
could increase our costs and affect the earnings we anticipate from the employment of the vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Vessels are drydocked during intermediate
and special surveys for repairs of their underwater parts. If &ldquo;in water survey&rdquo; notation is assigned, the vessel owner
has the option of carrying out an underwater inspection of the vessel in lieu of drydocking, subject to certain conditions. In
the event that an &ldquo;in water survey&rdquo; notation is assigned as part of a particular intermediate survey, drydocking would
be required for the following special survey thereby generally achieving a higher utilization for the relevant vessel. Drydocking
can be undertaken as part of a special survey if the drydocking occurs within 15 months prior to the special survey deadline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table lists the dates by which
we expect to carry out the next drydockings and special surveys for the vessels in our fleet:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="width: 55%; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Vessel Name</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Drydocking</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Special Survey</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Classification Society</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left">m/v River Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">January 2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">December 2022</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Class NK</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">m/v Sky Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">November 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">November 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">DNV GL</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left">m/v Star Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">DNV GL</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">m/v Moon Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">August 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">November 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Class NK</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic">m/v Sun Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">December 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">August 2022</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Bureau Veritas</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following an incident or a scheduled survey,
if any defects are found, the classification surveyor will issue a &ldquo;recommendation or condition of class&rdquo; which must
be rectified by the vessel owner within the prescribed time limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risk Management and Insurance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>General</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The operation of any cargo vessel embraces
a wide variety of risks, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">mechanical
                                         failure or damage, for example by reason of the seizure of a main engine crankshaft;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">cargo
                                         loss, for example arising from hull damage;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">personal
                                         injury, for example arising from collision or piracy;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">losses
                                         due to piracy, terrorist or war-like action between countries;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">environmental
                                         damage, for example arising from marine disasters such as oil spills and other environmental
                                         mishaps;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">physical
                                         damage to the vessel, for example by reason of collision;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">damage
                                         to other property, for example by reason of cargo damage or oil pollution; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">business
                                         interruption, for example arising from strikes and political or regulatory change.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 48; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The value of such losses or damages may vary
from modest sums, for example for a small cargo shortage damage claim, to catastrophic liabilities, for example arising out of
a marine disaster, such as a serious oil or chemical spill, which may be virtually unlimited. While we maintain the traditional
range of marine and liability insurance coverage for our fleet (hull and machinery insurance, war risks insurance and protection
and indemnity coverage) in amounts and to extents that we believe are prudent to cover normal risks in our operations, we cannot
insure against all risks, and we cannot be assured that all covered risks are adequately insured against. Furthermore, there can
be no guarantee that any specific claim will be paid by the insurer or that it will always be possible to obtain insurance coverage
at reasonable rates. Any uninsured or under-insured loss could harm our business and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Hull and Machinery
and War Risks</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The principal coverages for marine risks (covering
loss or damage to the vessels, rather than liabilities to third parties) are hull and machinery insurance and war risk insurance.
These address the risks of the actual or constructive total loss of a vessel and accidental damage to a vessel&rsquo;s hull and
machinery, for example from running aground or colliding with another ship. These insurances provide coverage which is limited
to an agreed &ldquo;insured value&rdquo; which, as a matter of policy, is never less than the particular vessel&rsquo;s fair market
value. Reimbursement of loss under such coverage is subject to policy deductibles that vary according to the vessel and the nature
of the coverage. Hull and machinery deductibles may, for example, be between $75,000 and $150,000 per incident whereas the war
risks insurance has a more modest incident deductible of, for example, $30,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Protection and Indemnity
Insurance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Protection and indemnity insurance is a form
of mutual indemnity insurance provided by mutual marine protection and indemnity associations, or &ldquo;P&amp;I Clubs,&rdquo;
formed by vessel owners to provide protection from large financial loss to one club member by contribution towards that loss by
all members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each of the vessels that we operate is entered
in the Gard P&amp;I (Bermuda) Ltd. which we refer to as the Club, for third party liability marine insurance coverage.&nbsp;The
Club is a mutual insurance vehicle.&nbsp;As a member of the Club, we are insured, subject to agreed deductibles and our terms
of entry, for our legal liabilities and expenses arising out of our interest in an entered ship, out of events occurring during
the period of entry of the ship in the Club and in connection with the operation of the ship, against specified risks.&nbsp;These
risks include liabilities arising from death of crew and passengers, loss or damage to cargo, collisions, property damage, oil
pollution and wreck removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Club benefits from its membership in the
International Group of P&amp;I Clubs, or the International Group, for its main reinsurance program, and maintains a separate complementary
insurance program for additional risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Club&rsquo;s policy year commences each
February.&nbsp;The mutual calls are levied by way of Estimated Total Premiums, or ETP, and the amount of the final installment
of the ETP varies in accordance with the actual total premium ultimately required by the Club for a particular policy year.&nbsp;Members
have a liability to pay supplementary calls which may be levied by the Club if the ETP is insufficient to cover the Club&rsquo;s
outgoings in a policy year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cover per claim is generally limited to an
unspecified sum, being the amount available from reinsurance plus the maximum amount collectable from members of the International
Group by way of overspill calls.&nbsp;Certain exceptions apply, including a $1.0 billion limit on claims in respect of oil pollution,
a $3.0 billion limit on cover for passenger and crew claims and a sub-limit of $2.0 billion for passenger claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To the extent that we experience either a
supplementary or an overspill call, our policy is to expense such amounts. To the extent that the Club depends on funds paid in
calls from other members in our industry, if there were an industry-wide slow-down, other members might not be able to meet the
call and we might not receive a payout in the event we made a claim on a policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Uninsured Risks</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not all risks are insured and not all risks
are insurable. The principal insurable risks which nevertheless remain uninsured across our fleet are &ldquo;loss of hire&rdquo;
and &ldquo;strikes.&rdquo; We will not insure these risks because we regard the costs as disproportionate. These insurances provide,
subject to a deductible, a limited indemnity for hire that is not receivable by the shipowner for reasons set forth in the policy.
For example, loss of hire risk may be covered on a 14/90/90 basis, with a 14 days deductible, 90 days cover per incident and a
90-day overall limit per vessel per year. Should a vessel on time charter, where the vessel is paid a fixed hire day by day, suffer
a serious mechanical breakdown, the daily hire will no longer be payable by the charterer. The purpose of the loss of hire insurance
is to secure the loss of hire during such periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 49; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Environmental and Other Regulations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Sources of Applicable
Rules and Standards</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Shipping is one of the world&rsquo;s most
heavily regulated industries, and it is subject to many industry standards. Government regulation significantly affects the ownership
and operation of vessels. These regulations consist mainly of rules and standards established by international conventions, but
they also include national, state and local laws and regulations in force in jurisdictions where vessels may operate or are registered,
and which may be more stringent than international rules and standards. This is the case particularly in the United States and,
increasingly, in Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A variety of governmental and private entities
subject vessels to both scheduled and unscheduled inspections. These entities include local port authorities (the U.S. Coast Guard,
harbor masters or equivalent entities), classification societies, flag state administration (country vessel of registry), and
charterers, particularly terminal operators. Certain of these entities require vessel owners to obtain permits, licenses and certificates
for the operation of their vessels. Failure to maintain necessary permits or approvals could require a vessel owner to incur substantial
costs or temporarily suspend operation of one or more of its vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Heightened levels of environmental and quality
concerns among insurance underwriters, regulators and charterers continue to lead to greater inspection and safety requirements
on all vessels and may accelerate the scrapping of older vessels throughout the industry. Increasing environmental concerns have
created a demand for vessels that conform to stricter environmental standards. Vessel owners are required to maintain operating
standards for all vessels that will emphasize operational safety, quality maintenance, continuous training of officers and crews
and compliance with U.S. and international regulations. Because laws and regulations are frequently changed and may impose increasingly
stricter requirements, we cannot predict the ultimate cost of complying with these requirements, or the impact of these requirements
on the resale value or useful lives of our vessels. In addition, a future serious marine incident that causes significant adverse
environmental impact could result in additional legislation or regulation that could negatively affect our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is an overview of certain material
conventions, laws and regulations that affect our business and the operation of our vessels. It is not a comprehensive summary
of all the conventions, laws and regulations to which we are subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The International Maritime Organization, or
IMO, is a United Nations agency setting standards and creating a regulatory framework for the shipping industry and has negotiated
and adopted a number of international conventions. These fall into two main categories, consisting firstly of those concerned
generally with vessel safety and security standards, and secondly of those specifically concerned with measures to prevent pollution
from vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Ship Safety Regulation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A primary international safety convention
is the Safety of Life at Sea Convention of 1974, as amended, or SOLAS, including the regulations and codes of practice that form
part of its regime. Much of SOLAS is not directly concerned with preventing pollution, but some of its safety provisions are intended
to prevent pollution as well as promote safety of life and preservation of property. These regulations have been and continue
to be regularly amended as new and higher safety standards are introduced with which we are required to comply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An amendment of SOLAS introduced in 1993 the
International Management Code for the Safe Operation of Ships and for Pollution Prevention, or ISM Code, which has been mandatory
since July 1998. The purpose of the ISM Code is to provide an international standard for the safe management and operation of
vessels and for pollution prevention. Under the ISM Code, the party with operational control of a vessel is required to develop,
implement and maintain an extensive safety management system that includes, among other things, the adoption of a safety and environmental
protection policy setting forth instructions and procedures for operating its vessels safely and protecting the environment and
describing procedures for responding to emergencies. The ISM Code requires that vessel operators obtain a Safety Management Certificate
for each vessel they operate. This certificate issued after verification that the vessel&rsquo;s operator and its shipboard management
operate in accordance with the approved safety management system and evidences that the vessel complies with the requirements
of the ISM Code. No vessel can obtain a Safety Management Certificate unless its operator has been awarded a document of compliance,
issued by the respective flag state for the vessel, under the ISM Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 50; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Another amendment of SOLAS, made after the
terrorist attacks in the United States on September 11, 2001, introduced special measures to enhance maritime security, including
the International Ship and Port Facility Security Code, or ISPS Code, which sets out measures for the enhancement of security
of vessels and port facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The vessels that we operate maintain ISM and
ISPS certifications for safety and security of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Regulations to Prevent Pollution
from Ships </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the second main category of international
regulation which deals with prevention of pollution, the primary convention is the International Convention for the Prevention
of Pollution from Ships 1973 as amended by the 1978 Protocol, or MARPOL, which imposes environmental standards on the shipping
industry set out in its Annexes I-VI. These contain regulations for the prevention of pollution by oil (Annex I), by noxious liquid
substances in bulk (Annex II), by harmful substances in packaged forms within the scope of the International Maritime Dangerous
Goods Code (Annex III), by sewage (Annex IV), by garbage (Annex V) and by air emissions (Annex VI).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These regulations have been and continue to
be regularly amended and supplemented as new and higher standards of pollution prevention are introduced with which we are required
to comply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For example, MARPOL Annex VI sets limits on
Sulphur Oxides (SOx) and Nitrogen Oxides (NOx) and particulate matter emissions from vessel exhausts and prohibits deliberate
emissions of ozone depleting substances. It also regulates the emission of volatile organic compounds (VOC) from cargo tankers
and certain gas carriers, as well as shipboard incineration of specific substances. Annex VI also includes a global cap on the
sulphur content of fuel oil with a lower cap on the sulphur content applicable inside special areas, the &ldquo;Emission Control
Areas&rdquo; or ECAs. Already established ECAs include the Baltic Sea, the North Sea, including the English Channel, the North
American area and the US Caribbean Sea area. The global cap on the sulphur content of fuel oil is currently 3.5% to be reduced
to 0.5% as of January 1, 2020, regardless of whether a ship is operating outside a designated ECA. From January 1, 2015 the cap
on the sulphur content of fuel oil for vessels operating in ECAs has been 0.1%. Annex VI also provides for progressive reductions
in NOx emissions from marine diesel engines installed in vessels. Limiting NOx emissions is set on a three tier reduction, the
final tier (&ldquo;Tier III&rdquo;) to apply to engines installed on vessels constructed on or after January 1, 2016 and which
operate in the North American ECA or the US Caribbean Sea ECA. The Tier III requirements would also apply to engines of vessels
operating in other ECAs as may be designated in the future by the IMO&rsquo;s Marine Environment Protection Committee (or MEPC)
for Tier III NOx control. In October 2016, the MEPC approved the designation of the North Sea and the Baltic Sea as ECAs for NOx
emissions. These two new NOx ECAs and the related amendments to Annex VI were adopted by IMO&rsquo;s MEPC in 2017 and the two
new ECAs and the related amendments (with some exceptions) entered into effect on January 1, 2019. The Tier III requirements do
not apply to engines installed on vessels constructed prior to January 1, 2021, if they are of less than 500 gross tons, of 24
m or over in length, and have been designed and used solely for recreational purposes. We anticipate incurring costs at each stage
of implementation on all these areas. Currently we are compliant in all our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Greenhouse Gas Emissions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2005, the Kyoto Protocol to the
United Nations Framework Convention on Climate Change entered into force. Pursuant to the Kyoto Protocol, adopting countries are
required to implement national programs to reduce emissions of certain gases, generally referred to as greenhouse gases, which
are suspected of contributing to global warming. Currently, the greenhouse gas emissions from international shipping do not come
under the Kyoto Protocol. In December 2009, more than 27 nations, including the United States, entered into the Copenhagen Accord.
The Copenhagen Accord is non-binding, but is intended to pave the way for a comprehensive, international treaty on climate change.
On December 12, 2015 the Paris Agreement was adopted by 195 countries. The Paris Agreement deals with greenhouse gas emission
reduction measures and targets from 2020 in order to limit the global temperature increases above pre-industrial levels to well
below 2&#730; Celsius. Although shipping was ultimately not included in the Paris Agreement, it is expected that the adoption
of the Paris Agreement may lead to regulatory changes in relation to curbing greenhouse gas emissions from shipping. The Paris
Agreement has been ratified by a large number of countries and entered into force on November 4, 2016. In July 2011 the IMO adopted
regulations imposing technical and operational measures for the reduction of greenhouse gas emissions. These new regulations formed
a new chapter in Annex VI of MARPOL and became effective on January 1, 2013. The new technical and operational measures include
the &ldquo;Energy Efficiency Design Index,&rdquo; which is mandatory for newbuilding vessels, and the &ldquo;Ship Energy Efficiency
Management Plan,&rdquo; which is mandatory for all vessels. In October 2014 the IMO&rsquo;s MEPC agreed in principle to develop
a system of data collection regarding fuel consumption of vessels. As of March 1, 2018, amendments to Annex VI added new Regulation
22A on the collection and reporting of ship fuel oil consumption data. Under the new requirements, ships of 5,000 gross tonnage
and above will have to collect consumption data for each type of fuel oil they use, as well as certain other data including proxies
for transport work. Data collection for this commences on January 1, 2019. The IMO also approved a roadmap for the development
of a comprehensive IMO strategy on reduction of greenhouse gas emissions from ships with an initial strategy adopted on April
13, 2018 and a revised strategy to be adopted in 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 51; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EU adopted Regulation (EU) 2015/757 on
the monitoring, reporting and verification of carbon dioxide emissions from vessels (or the MRV Regulation), which was published
in the Official Journal on May 19, 2015 and entered into force on July 1, 2015 (as amended by Regulation (EU) 2016/2071). The
MRV Regulation applies to all vessels over 5,000 gross tonnage (except for a few types, such as, amongst others, warships and
fish catching or fish processing vessels), irrespective of flag, in respect of carbon dioxide emissions released during intra-EU
voyages and EU incoming and outgoing voyages. The first reporting period commenced on January 1, 2018. The monitoring, reporting
and verification system adopted by the MRV Regulation may be the precursor to a market-based mechanism to be adopted in the future.
The EU is currently considering a proposal for the inclusion of shipping in the EU Emissions Trading System as from 2021 (although
a decision on this this could be deferred until 2023) in the absence of a comparable system operating under the IMO. Individual
EU Member States may impose additional requirements. In the United States, the U.S. Environmental Protection Agency, or EPA, issued
an &ldquo;endangerment finding&rdquo; regarding greenhouse gases under the Clean Air Act. While this finding in itself does not
impose any requirements on our industry, it authorizes the EPA to regulate directly greenhouse gas emissions through a rule-making
process. Any passage of new climate control legislation or other regulatory initiatives by the IMO, EU, the United States or other
countries or states where we operate that restrict emissions of greenhouse gases could have a significant financial and operational
impact on our business through increased compliance costs or additional operational restrictions that we cannot predict with certainty
at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Anti-Fouling Requirements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2001, the IMO adopted the International
Convention on the Control of Harmful Anti-fouling Systems on Ships, or the Anti-fouling Convention. The Anti-fouling Convention,
which entered into force in September 2008, prohibits and/or restricts the use of organotin compound coatings to prevent the attachment
of mollusks and other sea life to the hulls of vessels. Vessels of over 400 gross tons engaged in international voyages must obtain
an International Anti-Fouling System Certificate and undergo a survey before the vessel is put into service or before the Anti-fouling
System Certificate is issued for the first time and when the anti-fouling systems are altered or replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Other International
Regulations to Prevent Pollution</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to MARPOL, other more specialized
international instruments have been adopted to prevent different types of pollution or environmental harm from vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2004, the IMO adopted an International
Convention for the Control and Management of Ships&rsquo; Ballast Water and Sediments, or the BWM Convention. The BWM Convention
aims to prevent the spread of harmful aquatic organisms from one region to another, by establishing standards and procedures for
the management and control of vessels&rsquo; ballast water and sediments. The BWM Convention&rsquo;s implementing regulations
require vessels to conduct ballast water management in accordance with the standards set out in the convention, which include
performance of ballast water exchange in accordance with the requirements set out in the relevant regulation and the gradual phasing
in of a ballast water performance standard which requires ballast water treatment and the installation of ballast water treatment
systems on board the vessels. The BWM Convention is now in force and vessels are required to retrofit a Ballast Water Management
System on each IOPP survey renewal after September 8, 2017. According to IMO, vessels are required to implement a Ballast Water
and Sediments Management Plan, carry a Ballast Water Record Book and an International Ballast Water Management Certificate. Besides
the IMO convention, ships sailing in U.S. waters are required to employ a type-approved BWMS which is compliant with USCG regulations.
The USCG has approved a number of BWMS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Hong Kong International Convention for
the Safe and Environmentally Sound Recycling of Ships adopted by the IMO in 2009, or the Recycling Convention, deals with issues
relating to ship recycling and aims to address the occupational health and safety, as well as environmental risks relating to
ship recycling. It contains regulations regarding the design, construction, operation, maintenance and recycling of vessels, as
well as regarding their survey and certification to verify compliance with the requirements of the Recycling Convention. The Recycling
Convention, amongst other things, prohibits and/or restricts the installation or use of hazardous materials on vessels and requires
vessels to have on board an inventory of hazardous materials specific to each vessel. It also requires ship recycling facilities
to develop a ship-recycling plan for each vessel prior to its recycling. Parties to the Recycling Convention are to ensure that
ship-recycling facilities are designed, constructed and operated in a safe and environmentally sound manner and that they are
authorized by competent authorities after verification of compliance with the requirements of the Recycling Convention. The Recycling
Convention (which is not effective yet) is to enter into force 24 months after a specified minimum number of states with a combined
gross tonnage and maximum annual recycling volume during the preceding 10 years have ratified it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 52; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A MARPOL regulation and the International
Convention on Oil Pollution Preparedness, Response and Co-operation, 1990 also require owners and operators of vessels to adopt
Shipboard Oil Pollution Emergency Plans. Another MARPOL regulation sets out similar requirements for the adoption of shipboard
marine pollution emergency plans for noxious liquid substances with respect to vessels carrying such substances in bulk. Periodic
training and drills for response personnel and for vessels and their crews are required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>European Regulations</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">European regulations in the maritime sector
are in general based on international law most of which were promulgated by the IMO and then adopted by the Member States. However,
since the <I>Erika</I> incident in 1999, when the <I>Erika</I> broke in two off the coast of France while carrying heavy fuel
oil, the European Union (or EU) has become increasingly active in the field of regulation of maritime safety and protection of
the environment. It has been the driving force behind a number of amendments of MARPOL (including, for example, changes to accelerate
the timetable for the phase-out of single hull tankers, and prohibiting the carriage in such tankers of heavy grades of oil),
and if dissatisfied either with the extent of such amendments or with the timetable for their introduction it has been prepared
to legislate on a unilateral basis. In some instances where it has done so, international regulations have subsequently been amended
to the same level of stringency as that introduced in the EU, but the risk is well established that EU regulations (and other
jurisdictions) may from time to time impose burdens and costs on shipowners and operators which are additional to those involved
in complying with international rules and standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In some areas of regulation the EU has introduced
new laws without attempting to procure a corresponding amendment of international law. Notably, it adopted in 2005 a directive
on ship-source pollution (which has been amended in 2009), imposing criminal sanctions for discharges of oil and other noxious
substances from vessels sailing in its waters, irrespective of their flag not only where such pollution is caused by intent or
recklessness (which would be an offense under MARPOL), but also where it is caused by &ldquo;serious negligence.&rdquo; The directive
could therefore result in criminal liability being incurred in circumstances where it would not be incurred under international
law. Experience has shown that in the emotive atmosphere often associated with pollution incidents, retributive attitudes towards
vessel interests have found expression in negligence being alleged by prosecutors and found by courts on grounds which the international
maritime community has found hard to understand. Moreover, there is skepticism that the notion of &ldquo;serious negligence&rdquo;
is likely to prove any narrower in practice than ordinary negligence. Criminal liability for a pollution incident could not only
result in us incurring substantial penalties or fines but may also, in some jurisdictions, facilitate civil liability claims for
greater compensation than would otherwise have been payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EU has also adopted legislation requiring
the use of low sulphur fuel. Under Council Directive 1999/32/EC as subsequently amended (most recently by Directive 2012/33/EU),
from January 1, 2015, vessels have been required to burn fuel with a sulphur content not exceeding 0.1% while within EU member
states&rsquo; territorial seas, exclusive economic zones and pollution control zones falling within sulphur oxide (SOx) Emission
Control Areas (or SECAs), such as the Baltic Sea and the North Sea, including the English Channel. Further sea areas may be designated
as SECAs in the future by the IMO in accordance with MARPOL Annex VI. Directive 1999/32/EC was repealed and codified by 2016/802/EU
to align with the revised Annex VI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EU has also adopted legislation (Directive
2009/16/EC on Port State Control, as subsequently amended) which requires the Member States to refuse access to their ports to
certain sub-standard vessels according to various factors, such as the vessel&rsquo;s condition, flag and number of previous detentions
within certain preceding periods; creates obligations on the part of EU member port states to inspect minimum percentages of vessels
using their ports annually; and provides for increased surveillance of vessels posing a high risk to maritime safety or the marine
environment. If deficiencies are found that are clearly hazardous to safety, health or the environment, the state is required
to detain the vessel or stop loading or unloading until the deficiencies are addressed. Member states are also required to implement
their own separate systems of proportionate penalties for breaches of these standards. Further, another EU directive (Directive
2000/59/EC) requires all ships (except for warships, naval auxiliary or other state-owned or state-operated ships on non-commercial
service), irrespective of flag, calling at, or operating within, ports of Member States to deliver all ship-generated waste and
cargo residues to port reception facilities. Under this directive, a fee is payable by the ships for the use of the port reception
facilities, including the treatment and disposal of the waste. The ships may be subject to an inspection for verification of their
compliance with the requirements of the directive and penalties may be imposed for their breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 53; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Commission Regulation (EU) No 802/2010, which
was adopted by the European Commission in September 2010, as part of the implementation of the Port State Control Directive and
came into force on January&nbsp;1, 2011, as subsequently amended by Regulation 1205/2012 of December 14, 2012, introduced a ranking
system (published on a public website and updated daily) displaying shipping companies operating in the EU with the worst safety
records. The ranking is judged upon the results of the technical inspections carried out on the vessels owned by a particular
shipping company. Those shipping companies that have the most positive safety records are rewarded by being subjected to fewer
inspections, whilst those with the most safety shortcomings or technical failings recorded upon inspection are to be subjected
to a greater frequency of official inspections of their vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By Directive 2009/15/EC of April 23, 2009
(on common rules and standards for ship inspection and survey organizations and for the relevant activities of maritime administrations)
as amended by Directive 2014/111/EU of December 17, 2014, the European Union has established measures to be followed by the Member
States for the exercise of authority and control over classification societies, including the ability to seek to suspend or revoke
the authority of classification societies that are negligent in their duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EU has also adopted Regulation (EU) No
1257/2013 which lays down rules in relation to ship recycling and management of hazardous materials on vessels. The Regulation
lays down requirements for the recycling of vessels in an environmentally sound manner at approved recycling facilities which
meet certain requirements, so as to minimize the adverse effects of recycling on human health and the environment. The Regulation
also lays down rules for the control and proper management of hazardous materials on vessels and prohibits or restricts the installation
or use of certain hazardous materials on vessels. The Regulation aims at facilitating the ratification of the Recycling Convention.
It applies to vessels flying the flag of a Member State and certain of its provisions apply to vessels flying the flag of a third
country calling at a port or anchorage of a Member State. For example, when calling at a port or anchorage of a Member State,
the vessels flying the flag of a third country will be required, amongst other things, to have on board an inventory of hazardous
materials which complies with the requirements of the Regulation and to be able to submit to the relevant authorities of that
Member State a copy of a statement of compliance issued by the relevant authorities of the country of their flag and verifying
the inventory. The Regulation generally entered into force on December 31, 2018, although certain of its provisions are to apply
at different stages, with certain of them applicable from December 31, 2020. On December 19, 2016, the EU Commission adopted the
first version of a European List of approved ship recycling facilities meeting the requirements of the regulation, as well as
four further implementing decisions dealing with certification and other administrative requirements set out in the Regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Compliance Enforcement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The flag state, as defined by the United Nations
Convention on the Law of the Sea, has overall responsibility for the implementation and enforcement of international maritime
regulations for all vessels granted the right to fly its flag. The &ldquo;Shipping Industry Guidelines on Flag State Performance&rdquo;
issued by the International Chamber of Shipping in cooperation with other international shipping associations evaluates flag states
based on factors such as port state control record, ratification of major international maritime treaties, use of recognized organizations
conducting survey work on their behalf which comply with the IMO guidelines, age of fleet, compliance with reporting requirements
and participation at IMO meetings. The vessels that we operate are flagged in the Marshall Islands and Malta. Marshall Islands-
and Malta-flagged vessels have historically received a good assessment in the shipping industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Noncompliance with the ISM Code or other IMO
regulations may subject the shipowner or bareboat charterer to increased liability and, if the implementing legislation so provides,
to criminal sanctions, may lead to decreases in available insurance coverage for affected vessels or may invalidate or result
in the loss of existing insurance cover and may result in the denial of access to, or detention in, some ports. The U.S. Coast
Guard and European Union authorities have, for example, indicated that vessels not in compliance with the ISM Code will be prohibited
from trading in U.S. and European Union ports, respectively. As of the date of this annual report on Form 20-F, each of our vessels
is ISM Code certified. However, there can be no assurance that such certificate will be maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The IMO continues to review and introduce
new regulations. It is impossible to predict what additional regulations, if any, may be passed by the IMO and what effect, if
any, such regulations may have on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>United States Environmental Regulations
and Laws Governing Civil Liability for Pollution</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Environmental legislation in the United States
merits particular mention as it is in many respects more onerous than international laws, representing a high-water mark of regulation
with which shipowners and operators must comply, and of liability likely to be incurred in the event of non-compliance or an incident
causing pollution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 54; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">U.S. federal legislation, including notably
the OPA, establishes an extensive regulatory and liability regime for the protection and cleanup of the environment from oil spills,
including bunker oil spills from dry bulk vessels as well as cargo or bunker oil spills from tankers. The OPA affects all owners
and operators whose vessels trade in the United States, its territories and possessions or whose vessels operate in United States
waters, which includes the United States&rsquo; territorial sea and its 200 nautical mile exclusive economic zone. Under the OPA,
vessel owners, operators and bareboat charterers are &ldquo;responsible parties&rdquo; and are jointly, severally and strictly
liable without regard to fault (unless the spill results solely from the act or omission of a third party, an act of God or an
act of war) for all containment and clean-up costs and other damages arising from discharges or substantial threats of discharges
of oil from their vessels. The OPA expressly allows the individual states of the United States to impose their own liability regimes
for the discharge of petroleum products. In addition to potential liability under the OPA as the relevant federal legislation,
vessel owners may in some instances incur liability on an even more stringent basis under state law in the particular state where
the spillage occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The OPA requires the owner or operator of
any non-tank vessel of 400 gross tons or more that carries oil of any kind as a fuel for main propulsion, including bunkers, to
prepare and submit a response plan for each vessel. The vessel response plans must include detailed information on actions to
be taken by vessel personnel to prevent or mitigate any discharge or substantial threat of such a discharge of oil from the vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The OPA limits the liability of responsible
parties to the greater of $1,100 per gross ton or $939,800 per non-tank vessel (subject to possible adjustment for inflation).
However, these limits of liability do not apply if an incident was proximately caused by violation of applicable United States
federal safety, construction or operating regulations or by a responsible party&rsquo;s gross negligence or willful misconduct,
or if the responsible party fails or refuses to report the incident or to cooperate and assist in connection with oil removal
activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Comprehensive Environmental
Response, Compensation, and Liability Act, or CERCLA, which applies to the discharge of hazardous substances (other than oil)
whether on land or at sea, contains a similar liability regime and provides for cleanup, removal and natural resource damages.
Liability under CERCLA is limited to the greater of $300 per gross ton or $0.5 million for vessels not carrying hazardous substances
as cargo or residue (or the greater of $300 per gross ton or $5.0 million for vessels carrying hazardous substances) unless the
incident is caused by gross negligence, willful misconduct or a violation of certain regulations, in which case liability is unlimited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We maintain, for each of our vessels, protection
and indemnity coverage against pollution liability risks in the amount of $1.0 billion per event. This insurance coverage is subject
to exclusions, deductibles and other terms and conditions. If any liabilities or expenses fall within an exclusion from coverage,
or if damages from a catastrophic incident exceed the $1.0 billion limitation of coverage per event, our cash flow, profitability
and financial position could be adversely impacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe our insurance and protection and
indemnity coverage as described above meets the requirements of the OPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The OPA requires owners and operators of all
vessels over 300 gross tons, even those that do not carry petroleum or hazardous substances as cargo, to establish and maintain
with the U.S. Coast Guard evidence of financial responsibility sufficient to meet their potential liabilities under the OPA. Under
the regulations, vessel owners and operators may evidence their financial responsibility by showing proof of insurance, surety
bond, self-insurance or guaranty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the OPA, an owner or operator of a fleet
of vessels is required only to demonstrate evidence of financial responsibility in an amount sufficient to cover the vessel in
the fleet having the greatest limited liability under the OPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The U.S. Coast Guard&rsquo;s regulations concerning
certificates of financial responsibility provide, in accordance with the OPA, that claimants may bring suit directly against an
insurer or guarantor that furnishes the guaranty that supports the certificates of financial responsibility. In the event that
such insurer or guarantor is sued directly, it is prohibited from asserting any contractual defense that it may have had against
the responsible party and is limited to asserting those defenses available to the responsible party and the defense that the incident
was caused by the willful misconduct of the responsible party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The OPA specifically permits individual states
to impose their own liability regimes with regard to oil pollution incidents occurring within their boundaries, and some states
have enacted legislation providing for unlimited liability for oil spills. In some cases, states that have enacted such legislation
have not yet issued implementing regulations defining vessels owners&rsquo; responsibilities under these laws. We intend to comply
with all applicable state regulations in the ports where our vessels call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 55; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The United States Clean Water Act, or CWA,
prohibits the discharge of oil or hazardous substances in U.S. navigable waters and imposes strict liability in the form of penalties
for unauthorized discharges. The CWA also imposes substantial liability for the costs of removal, remediation and damages and
complements the remedies available under CERCLA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EPA enacted rules governing the regulation
of ballast water discharges and other discharges incidental to the normal operation of vessels within U.S. waters. Under the rules,
commercial vessels 79 feet in length or longer (other than commercial fishing vessels), or Regulated Vessels, are required to
obtain a CWA permit regulating and authorizing such normal discharges. This permit, which the EPA has designated as the Vessel
General Permit for Discharges Incidental to the Normal Operation of Vessels, or VGP, incorporates the current U.S. Coast Guard
requirements for ballast water management as well as supplemental ballast water requirements, and includes limits applicable to
specific discharge streams, such as deck runoff, bilge water and gray water.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For each discharge type, among other things,
the VGP establishes effluent limits pertaining to the constituents found in the effluent, including best management practices,
or BMPs, designed to decrease the amount of constituents entering the waste stream. Unlike land-based discharges, which are deemed
acceptable by meeting certain EPA-imposed numerical effluent limits, each of the VGP discharge limits is deemed to be met when
a Regulated Vessel carries out the BMPs pertinent to that specific discharge stream. The VGP imposes additional requirements on
certain Regulated Vessel types that emit discharges unique to those vessels. Administrative provisions, such as inspection, monitoring,
recordkeeping and reporting requirements are also included for all Regulated Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The VGP application procedure, known as the
Notice of Intent, or NOI, may be accomplished through the &ldquo;eNOI&rdquo; electronic filing interface. We submitted NOIs for
all our vessels to which the CWA applies. The Vessel General Permit contains limits on effluents, and specific measures with respect
to ships operating on the Great Lakes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, pursuant to Section 401 of the
CWA, which requires each state to certify federal discharge permits such as the VGP, certain states have enacted additional discharge
standards as conditions to their certification of the VGP. These local standards bring the VGP into compliance with more stringent
state requirements, such as those further restricting ballast water discharges and preventing the introduction of non-indigenous
species considered to be invasive. The VGP and related state-specific regulations and any similar restrictions enacted in the
future will increase the costs of operating in the relevant waters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Vessel Incidental Discharge Act (or VIDA)
was signed into law on December 4, 2018, and establishes a new framework for the regulation of vessel incidental discharges under
the CWA. VIDA requires the U.S. Environmental Protection Agency (or EPA) to develop performance standards for incidental discharges,
and requires the USCG to develop regulations within two years of the EPA&rsquo;s promulgation of standards. Under VIDA, all provisions
of the VGP remain in force and effect as currently written until the U.S. Coast Guard regulations are finalized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The U.S. National Invasive Species Act, or
NISA, was enacted in 1996 in response to growing reports of harmful organisms being released into U.S. ports through ballast water
taken on by vessels in foreign ports. NISA established a ballast water management program for vessels entering U.S. waters. Under
NISA, mid-ocean ballast water exchange is voluntary, except for vessels heading to the Great Lakes or Hudson Bay, or vessels engaged
in the foreign export of Alaskan North Slope crude oil. However, NISA&rsquo;s reporting and record keeping requirements are mandatory
for vessels bound for any port in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2012, the U.S. Coast Guard issued
a final rule establishing standards for the allowable concentration of living organisms in ballast water discharged in U.S. waters
and requiring the phase-in of Coast Guard approved ballast water management systems. The rule went into effect in June 2012, and
adopts ballast water discharge standards for vessels calling on U.S. ports and intending to discharge ballast water equivalent
to those set in IMO&rsquo;s Ballast Water Management Convention (to which the U.S. is not a party). The final rule requires that
ballast water discharge have no more than 10 living organisms per milliliter for organisms between 10 and 50 micrometers in size.
For organisms larger than 50 micrometers, the discharge must have fewer than 10 living organisms per cubic meter of discharge.
Ships sailing in U.S. waters are required to employ a type-approved ballast water management system which is compliant with U.S.
Coast Guard regulations. As of January 2019, the USCG has issued Type Approval for over a dozen ballast water management systems,
with additional systems under review. The Coast Guard will still consider requests for extensions of a vessel&rsquo;s compliance
date if evidence is shown by the owner or operator as to why compliance is not possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<!-- Field: Page; Sequence: 56; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Security Regulations</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the terrorist attacks of September 11,
2001, there have been a variety of initiatives intended to enhance vessel security. In November 2002, the MTSA came into effect.
To implement certain portions of the MTSA, in July 2003, the U.S. Coast Guard issued regulations requiring the implementation
of certain security requirements aboard vessels operating in waters subject to the jurisdiction of the United States. Similarly,
in December 2002, amendments to SOLAS created a new chapter of the convention dealing specifically with maritime security. The
new chapter went into effect on July 1, 2004, and imposes various detailed security obligations on vessels and port authorities,
most of which are contained in the newly created ISPS Code. Among the various requirements are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on-board
                                         installation of automatic information systems to enhance vessel-to-vessel and vessel-to-shore
                                         communications;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on-board
                                         installation of ship security alert systems;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         development of vessel security plans; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">compliance
                                         with flag state security certification requirements.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The U.S. Coast Guard regulations, intended
to be aligned with international maritime security standards, exempt non-U.S. vessels from MTSA vessel security measures, provided
such vessels have on board a valid International Ship Security Certificate that attests to the vessel&rsquo;s compliance with
SOLAS security requirements and the ISPS Code. The vessels in our fleet that we operate have on board valid International Ship
Security Certificates and, therefore, will comply with the requirements of the MTSA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>International Laws
Governing Civil Liability to Pay Compensation or Damages</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although the United States is not a party
to the International Convention on Civil Liability for Oil Pollution Damage of 1969, as amended by the 1992 Protocol and further
amended in 2000, or the CLC (which has been adopted by the IMO and sets out a liability regime in relation to oil pollution damage),
many countries are parties and have ratified either the original CLC or its 1992 Protocol. Under the CLC, a vessel&rsquo;s registered
owner is strictly liable for pollution damage caused in the territorial waters or, under the 1992 Protocol, in the exclusive economic
zone or equivalent area, of a contracting state by discharge of persistent oil, subject to certain defenses and subject to the
right to limit liability. The original CLC applies to vessels carrying oil as cargo and not in ballast, whereas the CLC as amended
by the 1992 Protocol applies to tanker vessels and combination carriers (i.e., vessels which sometimes carry oil in bulk and sometimes
other cargoes) but only when the latter carry oil in bulk as cargo and during any voyage following such carriage (to the extent
they have oil residues on board). The limits on liability are based on the use of the International Monetary Fund currency unit
of Special Drawing Rights, or SDR. The value of the SDR is based on a basket of five major currencies &ndash; the U.S. dollar,
the Euro, the Chinese renminbi, the Japanese yen, and the Great British pound sterling. Under the 2000 amendment to the 1992 Protocol
that became effective on November 1, 2003, for vessels between 5,000 and 140,000 gross tons (a unit of measurement for the total
enclosed spaces within a vessel), liability is limited to approximately 4.51 million SDR plus 631 SDR for each additional gross
ton over 5,000. For vessels of over 140,000 gross tons, liability is limited to 89.77 million SDR.. Under the original CLC, the
right to limit liability is forfeited where the incident causing the damage is caused by the owner&rsquo;s actual fault or privity
and under the 1992 Protocol where the relevant incident is caused by the owner&rsquo;s personal act or omission, committed with
the intent to cause such damage, or recklessly and with knowledge that such damage would probably result. Vessels trading with
states that are parties to these conventions must provide evidence of insurance covering the liability of the owner. In jurisdictions
where the CLC has not been adopted, various legislative schemes or common law govern, and liability is imposed either on the basis
of fault or in a manner similar to that of the convention. We believe that our protection and indemnity insurance will cover the
liability under the regime adopted by the IMO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The CLC is supplemented by the International
Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage 1971, as amended (or the Fund
Convention). The purpose of the Fund Convention was the creation of a supplementary compensation fund (the International Oil Pollution
Compensation Fund, or IOPC Fund) which provides additional compensation to victims of a pollution incident who are unable to obtain
adequate or any compensation under the CLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 57; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2001, the IMO adopted the International
Convention on Civil Liability for Bunker Oil Pollution Damage, or the Bunker Convention, which covers liability and compensation
for pollution damage caused in the territorial waters or the exclusive economic zone or equivalent area of ratifying states by
discharges of &ldquo;bunker oil.&rdquo; The Bunker Convention defines &ldquo;bunker oil&rdquo; as &ldquo;any hydrocarbon mineral
oil, including lubricating oil, used or intended to be used for the operation or propulsion of the ship, and any residues of such
oil.&rdquo; The Bunker Convention imposes strict liability (subject to certain defenses) on the shipowner (which term includes
the registered owner, bareboat charterer, manager and operator of the vessel). It also requires registered owners of vessels over
a certain size to maintain insurance for pollution damage in an amount equal to the limits of liability under the applicable national
or international limitation regime (but not exceeding the amount calculated in accordance with the Convention on Limitation of
Liability for Maritime Claims of 1976, as amended by the 1996 Protocol to it, or the 1976 Convention). The Bunker Convention entered
into force in November 2008. In other jurisdictions, liability for spills or releases of oil from vessels&rsquo; bunkers continues
to be determined by the national or other domestic laws in the jurisdiction where the events or damages occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The IMO&rsquo;s International Convention on
Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea 1996, as superseded
by the 2010 Protocol, or the HNS Convention, sets out a liability regime for loss or damage caused by hazardous or noxious substances
carried on board a vessel. These substances are listed in the convention itself or defined by reference to lists of substances
included in various IMO conventions and codes. The HNS Convention covers loss or damage by contamination to the environment, costs
of preventive measures and further damage caused by such measures, loss or damage to property outside the ship and loss of life
or personal injury caused by such substances on board or outside the ship. It imposes strict liability (subject to certain defenses)
on the registered owner of the vessel and provides for limitation of liability and compulsory insurance. The owner&rsquo;s right
to limit liability is lost if it is proved that the damage resulted from the owner&rsquo;s personal act or omission, committed
with the intent to cause such damage, or recklessly and with knowledge that such damage would probably result. The HNS Convention
has not entered into force yet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Outside the United States, national laws generally
provide for the owner to bear strict liability for pollution, subject to a right to limit liability under applicable national
or international regimes for limitation of liability. The most widely applicable international regime limiting maritime pollution
liability is the 1976 Convention. However, claims for oil pollution damage within the meaning of the CLC or any Protocol or amendment
to it are expressly excepted from the limitation regime set out in the 1976 Convention. Rights to limit liability under the 1976
Convention are forfeited where it is proved that the loss resulted from the shipowner&rsquo;s personal act or omissions, committed
with the intent to cause such loss, or recklessly and with knowledge that such loss would probably result. Some states have ratified
the 1996 Protocol to the 1976 Convention, which provides for liability limits substantially higher than those set forth in the
original 1976 Convention to apply in such states. Finally, some jurisdictions are not a party to either the 1976 Convention or
the 1996 Protocol, and some are parties to other earlier limitation of liability conventions and, therefore, shipowners&rsquo;
rights to limit liability for maritime pollution in such jurisdictions may be different or uncertain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>The Maritime Labour
Convention </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The International Labour Organization&rsquo;s
Maritime Labour Convention was adopted in 2006 (&ldquo;MLC 2006&rdquo;). The basic aims of the MLC 2006 are to ensure comprehensive
worldwide protection of the rights of seafarers and to establish a level playing field for countries and ship owners committed
to providing decent working and living conditions for seafarers, protecting them from unfair competition on the part of substandard
ships. The Convention was ratified on August 20, 2012, and all our vessels have been certified, as required. We do not expect
that the MLC 2006 requirements will have a material effect on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>C.&nbsp;&nbsp;Organizational
Structure</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Globus Maritime Limited is a holding company.
As of the date of this annual report, Globus wholly owns six operational subsidiaries, five of which are Marshall Islands corporations
and one of which is incorporated in Malta. Five of our operational subsidiaries each own one vessel and our sixth operational
subsidiary, our Manager, provides the technical and day-to-day commercial management of our fleet and also provides consultancy
services to an affiliated ship-management company. Our Manager maintains ship management agreements with each of our vessel-owning
subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>D.&nbsp;&nbsp;Property,
Plants and Equipment</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2006, our Manager entered into a
rental agreement for 350 square meters of office space for our operations within a building owned by Cyberonica S.A., a related
party to us. Rental expense was &euro;14,578 per month until December 31, 2015. The rental agreement provided for an annual increase
in rent of 2% above the rate of inflation as set by the Bank of Greece. The contract ran for nine years and could have been terminated
by us with six months&rsquo; notice, and terminated at the end of 2015. In 2016 we renewed the rental agreement at a monthly rate
of &euro;10,360 ($11,900) with a lease period ending January 2, 2025. We do not presently own any real estate. As of December
31, 2018, we owed Cyberonica approximately $427,000 of back rent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 58; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For information about our vessels and how
we account for them, see &ldquo;Item 5. Operating and Financial Review and Prospects. A. Operating Results &ndash; Results of
Operations &ndash; Critical Accounting Policies &ndash; Impairment of Long-Lived Assets.&rdquo; Other than our vessels, we do
not have any material property. Our vessels are subject to priority mortgages, which secure our obligations under our various
loan and credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For further details regarding our loan agreements
and credit facilities, please see &ldquo;Item 5. Operating and Financial Review and Prospects &mdash; B. Liquidity and Capital
Resources &mdash; Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have no manufacturing capacity, nor do
we produce any products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that our existing facilities are
adequate to meet our needs for the foreseeable future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_007"></A><B>Item 4A.&nbsp; Unresolved
Staff Comments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_008"></A><B>Item 5.&nbsp;&nbsp;Operating
and Financial Review and Prospects</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The following discussion should be read
in conjunction with our consolidated financial statements and the accompanying notes thereto included elsewhere in this annual
report on Form 20-F. We believe that the following discussion contains forward-looking statements that involve risks and uncertainties.
Actual results or plan of operations could differ materially from those anticipated by forward-looking information due to factors
discussed under &ldquo;Item 3.D.&nbsp;&nbsp;Risk Factors&rdquo; and elsewhere in this annual report on Form 20-F. Please see the
section &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo; at the beginning of this annual report on Form 20-F.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>A.&nbsp;&nbsp;Operating
Results</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are an integrated dry bulk shipping company,
which began operations in September 2006, providing marine transportation services on a worldwide basis. We own, operate and manage
a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally.
Following the conclusion of our initial public offering on June 1, 2007, our common shares were listed on the AIM under the ticker
&ldquo;GLBS.L.&rdquo; On July 29, 2010, we effected a one-for-four reverse stock split, with our issued share capital resulting
in 7,240,852 common shares of $0.004 each. On November 24, 2010, we redomiciled into the Marshall Islands pursuant to the BCA
and a resale registration statement for our common shares was declared effective by the SEC. Once the resale registration statement
was declared effective by the SEC, our common shares began trading on the Nasdaq Global Market under the ticker &ldquo;GLBS.&rdquo;
We delisted our common shares from the AIM on November 26, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 30, 2011, we completed a follow-on
public offering in the United States under the Securities Act, of 2,750,000 common shares at a price of $8.00 per share, the net
proceeds of which amounted to approximately $20 million. (These figures do not reflect the 4-1 reverse stock split which occurred
in October 2016 or the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2010, our fleet consisted
of five dry bulk vessels (three Supramaxes, one Panamax and one Kamsarmax) with an aggregate carrying capacity of 319,664 dwt.
In March 2011, we purchased from an unaffiliated third party a 2007-built Supramax vessel for $30.3 million. The vessel was delivered
in September 2011 and was named <I>Sun Globe</I>. In May 2011, we purchased from an unaffiliated third party a 2005-built Panamax
vessel for $31.4 million. The vessel was delivered in June 2011 and was named <I>Moon Globe</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In July 2015, we sold <I>m/v Tiara Globe</I>,
a 1998-built Panamax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2016, we reached a settlement agreement
with Commerzbank relating to the Kelty Loan Agreement. Commerzbank agreed to settle the outstanding indebtedness of $15.65 million
in return for the sale of the shares of Kelty Marine Ltd. for $6.86 million plus overdue interest of $40,708, to an unrelated
third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 59; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 11, 2016 our common shares began
trading on the Nasdaq Capital Market and ceased trading on the Nasdaq Global Market, without a change in our ticker.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On October 20, 2016, we
effected a four-for-one reverse stock split which reduced the number of outstanding common shares from 10,510,741 to 2,627,674
shares (adjustments were made based on fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">In July 2016, we redeemed
the remaining 2,567 of our Series A Preferred Shares that were issued and outstanding.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted a private placement on February
8, 2017, in which we issued, for gross proceeds of $5 million, an aggregate of 5 million common shares and warrants to purchase
25 million common shares at a price of $1.60 per share (subject to adjustment; these figures do not reflect a 10-1 reverse stock
split which occurred in October 2018), in a private placement to a group of private investors. The Company has used the proceeds
from the sale of common shares and warrants for general corporate purposes and working capital including repayment of debt. In
connection with the February, 2017 private placement, we terminated an aggregate of $20 million of the outstanding principal and
interest of the Firment Credit Facility and the Silaner Credit Facility in exchange for issuing 20 million shares and warrants
exercisable for 7,380,017 common shares at a price of $1.60 per share (subject to adjustment; these figures do not reflect a 10-1
reverse stock split which occurred in October 2018) to nominees of the lenders. In each instance, the outstanding amounts were
paid in their entirety subsequent to the close of the February 2017 private placement, but the Facilities remain available to
the Company. Both lenders are related parties to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 19, 2017, we entered into a Share
and Warrant Purchase Agreement pursuant to which we sold for $2.5 million an aggregate of 2.5 million of our common shares and
a warrant to purchase 12.5 million of our common shares at a price of $1.60 per share (subject to adjustment; these figures do
not reflect a 10-1 reverse stock split which occurred in October 2018) to an investor in a private placement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 15, 2018, we effected a ten-for-one
reverse stock split which reduced the number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were
made based on fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2018, we entered into a credit
facility for up to $15 million with Firment Shipping Inc., a related party to us, for the purpose of financing our general working
capital needs. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity on November 19,
2020. We have the right to drawdown any amount up to $15 million or prepay any amount in multiples of $100,000. Any prepaid amount
can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per
annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable the last day of a
period of three months after the Drawdown Date, after this period in case of failure to pay any sum due a default interest of
2% per annum above the regular interest is charged. We have also the right, in our sole option, to convert in whole or in part
the outstanding unpaid principal amount and accrued but unpaid interest under this Agreement into Common stock. The Conversion
price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the Common Stock on
the Principal Market on any Trading Day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. over
the Pricing Period multiplied by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive Trading Days immediately
preceding the date on which the Conversion Notice was executed or (ii) $2.80.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2018, through our wholly owned
subsidiaries, Artful Shipholding S.A. (&ldquo;Artful&rdquo;) and Longevity Maritime Limited (&ldquo;Longevity&rdquo;), we entered
into the Macquarie Loan Agreement for an amount up to $13.5 million with Macquarie Bank International Limited and used funds borrowed
thereunder to refinance part of the repayment of the existing DVB Loan Agreement for the m/v Moon Globe and m/v Sun Globe. Globus
acts as guarantor for this loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 13, 2019, the Company signed a securities
purchase agreement with a private investor and on March 13, 2019 issued, for gross proceeds of $5 million, a senior convertible
note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par value $0.004
per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures
upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). As of the date hereof, no conversion of the Convertible Note has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Convertible Note provides for interest
to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&rsquo;s issuance unless
the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares of the
Company, if certain conditions described within the Convertible Note are met. The following summaries of the conversion and redemption
provisions of the Convertible Note are qualified in their entirety to the terms of the Convertible Note itself:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be converted, in whole or in part, into the Company&rsquo;s common
                                         stock at any time by its holder, in which case all principal, interest, and other amounts
                                         owed pursuant to the Convertible Note shall convert at a price per share which differs
                                         based upon the performance of the Company&rsquo;s stock price. The price per share for
                                         conversion purposes shall be $4.50 (the &ldquo;Conversion Price&rdquo;); but if after
                                         June 7, 2019, the Company&rsquo;s common stock trades below the Conversion Price, the
                                         price per share for conversion purposes shall be the lowest of (a) the Conversion Price
                                         and (b) the highest of (i) $2.25 (the &ldquo;Floor Price&rdquo;) and (ii) 87.5% of the
                                         average of the high and low bid price from any day chosen by the holder during the ten
                                         (10) consecutive trading day period ending on and including the trading day immediately
                                         prior to the applicable conversion date (the &ldquo;Alternate Conversion Price&rdquo;)
                                         regardless of the subsequent stock price.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 60; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be redeemed, in whole or in part, by request of its holder upon:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(a)
                                         an Event of Default (as defined within the Convertible Note), in exchange for the higher
                                         of (a) 120% of all amounts owed under the Convertible Note, and (b) the value of the
                                         stock to which the Convertible Note could be converted (as calculated within Section
                                         4(b) of the Convertible Note);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(b)
                                         a Change in Control (as defined within the Convertible Note) of the Company, in exchange
                                         for the higher of (a) 120% of all amounts owed under the Convertible Note and (b) the
                                         value of the stock to which the Convertible Note could be converted (as calculated within
                                         Section 5(c) of the Convertible Note); or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(c)
                                         a ten Trading Day period in which the common shares trade below 120% of the Floor Price,
                                         in exchange for 100% of all amounts owed under the Convertible Note.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be redeemed, in whole or in part, at any time by the Company. If
                                         the Company elects to redeem the Convertible Note, the Company shall immediately be obligated
                                         to pay the holder the greater of (a) 120% of all amounts owed under the Convertible Note
                                         and (b) the value of the stock to which the Convertible Note could be converted (as calculated
                                         within Section 8(a) of the Convertible Note). If the Company elects to redeem the Convertible
                                         Note, the Company (as a procedural matter) must first provide the holder notice, which
                                         could allow the holder to convert prior to payment by the Company of the redemption amount.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">If
                                         any portion of the Convertible Note is not redeemed or converted prior to its maturity
                                         date, on the maturity date, the Company shall pay all outstanding principal in cash and
                                         may elect whether to pay the interest (and any other amounts owed) in cash or shares
                                         of the Company&rsquo;s common stock. If interest is paid in common stock, the Alternate
                                         Conversion Price per share shall apply.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Convertible Note includes anti-dilution
protections to its holder, which could cause the Conversion Price and Floor Price to be adjusted (upwards or downwards) proportionately
upon a stock split. The Convertible Note further allows the Company, with the holder&rsquo;s consent, to reduce the Floor Price
or the then current conversion price, as to any amount and for any period of time deemed appropriate by the Company&rsquo;s board
of directors, but to a price no less than $1.00 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the Convertible Note, the
Company may not issue shares to the extent such issuance would cause the Holder, together with its affiliates and attribution
parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&rsquo;
notice, but not to exceed 9.99%) of our then outstanding common shares immediately following such issuance, excluding for purposes
of such determination common shares issuable upon subsequent conversion of principal or interest on the Convertible Note. This
provision does not limit a Holder from acquiring up to 4.99% of our common shares, selling all of their common shares, and re-acquiring
up to 4.99% of our common shares. The Convertible Note further entitles its holder to any options, convertible securities or rights
to purchase shares, warrants, securities or other property if the Company should issue such pro rata to all or substantially all
of the record holders of any class of common shares, in each instance as though the Convertible Note had converted in full at
the Alternate Conversion Price and as though the aforementioned limitation on conversion and issuance did not exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also signed a registration rights
agreement with the private investor pursuant to which we agreed to register for resale the shares that could be issued pursuant
to the convertible note. The registration rights agreement contains liquidated damages if we are unable to register for resale
the shares into which the convertible note may convert, and maintain such registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 61; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to stabilize and then try to grow
our fleet through timely and selective acquisitions of modern vessels in a manner that we believe will provide an attractive return
on equity and will be accretive to our earnings and cash flow based on anticipated market rates at the time of purchase. There
is no guarantee however, that we will be able to find suitable vessels to purchase or that such vessels will provide an attractive
return on equity or be accretive to our earnings and cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our strategy is to generally employ our vessels
on a mix of all types of charter contracts, including bareboat charters, time charters and spot charters although all of our vessels
are currently on the spot market. We may, from time to time, enter into charters with longer durations depending on our assessment
of market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We seek to manage our fleet in a manner that
allows us to maintain profitability across the shipping cycle and thus maximize returns for our shareholders. To accomplish this
objective we have historically deployed our vessels primarily on a mix of bareboat and time charters (with terms of between one
month and five years). According to our assessment of market conditions, we have historically adjusted the mix of these charters
to take advantage of the relatively stable cash flow and high utilization rates associated with time charters or to profit from
attractive spot charter rates during periods of strong charter market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The average number of vessels in our fleet
for the years ended December&nbsp;31, 2018 and 2017 was 5.0 and for the year ended December&nbsp;31, 2016 was 5.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our operations are managed by our Athens,
Greece-based wholly owned subsidiary, Globus Shipmanagement Corp., our Manager, who provides in-house commercial and technical
management services to our vessels and consultancy services to an affiliated ship-management company. Our Manager enters into
a ship management agreement with each of our wholly owned vessel-owning subsidiaries to provide such services and previously entered
into a consultancy agreement with an affiliated ship-management company, which agreement terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Lack of Historical Operating Data for Vessels
Before their Acquisition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Consistent with shipping industry practice,
we were not and have not been able obtain the historical operating data for the secondhand vessels we purchase, in part because
that information is not material to our decision to acquire such vessels, nor do we believe such information would be helpful
to potential investors in our common shares in assessing our business or profitability. We purchased our vessels under a standardized
agreement commonly used in shipping practice, which, among other things, provides us with the right to inspect the vessel and
the vessel&rsquo;s classification society records. The standard agreement does not provide us the right to inspect, or receive
copies of, the historical operating data of the vessel. Accordingly, such information was not available to us. Prior to the delivery
of a purchased vessel, the seller typically removes from the vessel all records, including past financial records and accounts
related to the vessel. Typically, the technical management agreement between a seller&rsquo;s technical manager and the seller
is automatically terminated and the vessel&rsquo;s trading certificates are revoked by its flag state following a change in ownership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, and consistent with shipping
industry practice, we treat the acquisition of vessels from unaffiliated third parties as the acquisition of an asset rather than
a business. We believe that, under the applicable provisions of Rule 11-01(d) of Regulation S-X under the Securities Act, the
acquisition of our vessels does not constitute the acquisition of a &ldquo;business&rdquo; for which historical or pro forma financial
information would be provided pursuant to Rules 3-05 and 11-01 of Regulation S-X.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although vessels are generally acquired free
of charter, we may in the future acquire some vessels with charters. Where a vessel has been under a voyage charter, the vessel
is usually delivered to the buyer free of charter. It is rare in the shipping industry for the last charterer of the vessel in
the hands of the seller to continue as the first charterer of the vessel in the hands of the buyer. In most cases, when a vessel
is under time charter and the buyer wishes to assume that charter, the vessel cannot be acquired without the charterer&rsquo;s
consent and the buyer entering into a separate direct agreement, called a novation agreement, with the charterer to assume the
charter. The purchase of a vessel itself does not transfer the charter because it is a separate service agreement between the
vessel owner and the charterer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the Company acquires a vessel subject to
a time charter, it amortizes the amount of the component that is attributable to favorable or unfavorable terms relative to market
terms and is included in the cost of that vessel, over the remaining term of the lease. The amortization is included in line &ldquo;amortization
of fair value of time charter attached to vessels&rdquo; in the income statement component of the consolidated statement of comprehensive
(loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 62; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we purchase a vessel and assume or renegotiate
a related time charter, we must take the following steps before the vessel will be ready to commence operations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">obtain
                                         the charterer&rsquo;s consent to us as the new owner;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">obtain
                                         the charterer&rsquo;s consent to a new technical manager;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         some cases, obtain the charterer&rsquo;s consent to a new flag for the vessel;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">arrange
                                         for a new crew for the vessel, and where the vessel is on charter, in some cases, the
                                         crew must be approved by the charterer;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">replace
                                         all hired equipment on board, such as gas cylinders and communication equipment;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">negotiate
                                         and enter into new insurance contracts for the vessel through our own insurance brokers;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">register
                                         the vessel under a flag state and perform the related inspections in order to obtain
                                         new trading certificates from the flag state;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">implement
                                         a new planned maintenance program for the vessel; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">ensure
                                         that the new technical manager obtains new certificates for compliance with the safety
                                         and vessel security regulations of the flag state.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following discussion is intended to help
you understand how acquisitions of vessels affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business is comprised of the following
main elements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">employment
                                         and operation of our dry bulk vessels and management of a vessel owned by a third party;
                                         and</TD>
</TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">management
                                         of the financial, general and administrative elements involved in the conduct of our
                                         business and ownership of our dry bulk vessels.</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The employment and operation of our vessels
and the vessel we manage require the following main components:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         maintenance and repair;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">crew
                                         selection and training;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         spares and stores supply;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">contingency
                                         response planning;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">onboard
                                         safety procedures auditing;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">accounting;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         insurance arrangement;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         chartering;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         security training and security response plans (ISPS);</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">obtaining
                                         ISM certification and audit for each vessel within the six months of taking over a vessel;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 63; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         hire management;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         surveying; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">vessel
                                         performance monitoring.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The management of financial, general and administrative
elements involved in the conduct of our business and ownership of our vessels requires the following main components:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">management
                                         of our financial resources, including banking relationships, i.e., administration of
                                         bank loans and bank accounts;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">management
                                         of our accounting system and records and financial reporting;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">administration
                                         of the legal and regulatory requirements affecting our business and assets; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">management
                                         of the relationships with our service providers and customers.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The principal factors that affect our profitability,
cash flows and shareholders&rsquo; return on investment include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">rates
                                         and periods of hire;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">levels
                                         of vessel operating expenses, including repairs and drydocking;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">purchase
                                         and sale of vessels;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">management
                                         fees for any third party ships that we manage;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">depreciation
                                         expenses;</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">financing
                                         costs; and</TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">fluctuations
                                         in foreign exchange rates.</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Revenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Overview</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We generate revenues by charging our customers
for the use of our vessels to transport their dry bulk commodities. Under a time charter, the charterer pays us a fixed daily
charter hire rate and bears all voyage expenses, including the cost of bunkers (fuel oil) and port and canal charges. We remain
responsible for paying the chartered vessel&rsquo;s operating expenses, including the cost of crewing, insuring, repairing and
maintaining the vessel, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses. Under a bareboat
charter, the charterer pays us a fixed daily charter hire rate and bears all voyage expenses, as well as the vessel&rsquo;s operating
expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Spot charters can be spot voyage charters
or spot time charters. Spot voyage charters involve the carriage of a specific amount and type of cargo on a load-port to discharge-port
basis, subject to various cargo handling terms, and the vessel owner is paid on a per-ton basis. Under a spot voyage charter,
the vessel owner is responsible for the payment of all expenses including capital costs, voyage and expenses, such as port, canal
and bunker costs. A spot time charter is a contract to charter a vessel for an agreed period of time at a set daily rate. Under
spot time charters, the charterer pays the voyage expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Voyage revenues and
management &amp; consulting fee income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our voyage revenues are driven primarily by
the number of vessels in our fleet, the number of days during which our vessels operate and the amount of daily hire rates that
our vessels earn under charters or on the spot market, which, in turn, are affected by a number of factors, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         duration of our charters;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 64; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         number of days our vessels are hired to operate on the spot market;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our
                                         decisions relating to vessel acquisitions and disposals;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         amount of time that we spend positioning our vessels for employment;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         amount of time that our vessels spend in drydocking undergoing repairs;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">maintenance
                                         and upgrade work;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         age, condition and specifications of our vessels;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">levels
                                         of supply and demand in the dry bulk shipping industry; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">other
                                         factors affecting spot market charter rates for dry bulk vessels.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our voyage revenues in 2018 and 2017 increased
compared to their respective prior year mainly due to greater daily time charter and spot rates earned on average from our vessels
on a year over year basis. In 2016 our voyage revenues decreased when compared to 2015, mainly due to lower daily time charter
and spot rates earned on average from our vessels on a year over year basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From March to June 2016, we managed a vessel
that we did not own. We did not manage any vessels that we did not own in 2018 and 2017. In January 2017 and 2016, we also provided
consultancy services to an affiliated ship-management company, something we did not do in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Employment of our Vessels</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of the date of this annual report, we employed
our vessels as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>m/v
                                         Star Globe</I> &ndash; on a time charter that began in November 2018 and is expected
                                         to expire in April 2019, at the gross rate of $10,000 per day.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>m/v
                                         River Globe</I> &ndash; on a time charter that began in March 2019 and is expected to
                                         expire in March 2019, at the gross rate of $11,000 per day.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>m/v
                                         Sky Globe</I> &ndash; on a time charter that began in January 2019 and is expected to
                                         expire in March 2019, at the gross rate of $10,250 per day.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>m/v
                                         Moon Globe</I> &ndash; on a time charter that began in December 2018 and is expected
                                         to expire in July 2019, at the gross rate of approximately $8,000 per day, linked to
                                         the BDI Index.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>m/v
                                         Sun Globe</I> &ndash; on a time charter that began in December 2018 and is expected to
                                         expire in April 2019, at the gross rate of $11,500 per day.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our charter agreements subject us to counterparty
risk. In depressed market conditions, charterers may seek to renegotiate the terms of their existing charter parties or avoid
their obligations under those contracts. Should counterparties to one or more of our charters fail to honor their obligations
under their agreements with us, we could sustain significant losses which could have a material adverse effect on our business,
financial condition, results of operations, cash flows and ability to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Voyage Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We charter our vessels primarily through time
charters under which the charterer is responsible for most voyage expenses, such as the cost of bunkers (fuel oil), port expenses,
agents&rsquo; fees, canal dues, extra war risks insurance and any other expenses related to the cargo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 65; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Whenever we employ our vessels on a voyage
basis (such as trips for the purpose of geographically repositioning a vessel or trip(s) after the end of one time charter and
up to the beginning of the next time charter), we incur voyage expenses that include port expenses and canal charges and bunker
(fuel oil) expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we charter our vessels on bareboat charters,
the charterer will pay for most of the voyage expenses and operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As is common in the shipping industry, we
have historically paid commissions ranging from 1.25% to 2.50% of the total daily charter hire rate of each charter to unaffiliated
ship brokers and in-house brokers associated with the charterers, depending on the number of brokers involved with arranging the
charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2018, commissions
amounted to $0.3 million. For the years ended December 31, 2017 and 2016, commissions amounted to $0.2 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that the amounts and the structures
of our commissions are consistent with industry practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These commissions are directly related to
our revenues. We therefore expect that the amount of total commissions will increase if the size of our fleet grows as a result
of additional vessel acquisitions and employment of those vessels or if charter rates increase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Vessel Operating Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Vessel operating expenses include costs for
crewing, insurance, repairs and maintenance, lubricants, spare parts and consumable stores, statutory and classification tonnage
taxes and other miscellaneous expenses. We calculate daily vessel operating expenses by dividing vessel operating expenses by
ownership days for the relevant time period excluding bareboat charter days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our vessel operating expenses have historically
fluctuated as a result of changes in the size of our fleet. In addition, a portion of our vessel operating expenses is in currencies
other than the U.S. dollar, such as costs related to repairs, spare parts and consumables. These expenses may increase or decrease
as a result of fluctuation of the U.S. dollar against these currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We expect that crewing costs will increase
in the future due to the shortage in the supply of qualified sea-going personnel. In addition, we expect that maintenance costs
will increase as our vessels age. Other factors that may affect the shipping industry in general, such as the cost of insurance,
may also cause our expenses to increase. To the extent that we purchase additional vessels, we expect our vessel operating expenses
to increase accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Depreciation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cost of each of the Company&rsquo;s vessels
is depreciated on a straight-line basis over each vessel&rsquo;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, if appropriate. During the second quarter of 2016, we reduced the scrap rate from $240/ton to $200/ton
due to the reduced scrap rates worldwide. This resulted to an extra depreciation expense of $95,600 included in the consolidated
statement of comprehensive (loss)/income for 2016. During the third quarter of 2017, we adjusted the scrap rate from $200/ton
to $250/ton due to the increased scrap rates worldwide. This resulted to a reduced depreciation expense of approximately $86,000
included in the consolidated statement of comprehensive (loss)/income for 2017. During the first quarter of 2018, the Company
adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of approximately
$178,000 of the depreciation charge included in the consolidated statement of comprehensive loss for 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not expect these assumptions to change
significantly in the near future. We expect that these charges will increase if we acquire additional vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 66; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Depreciation of Drydocking Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Vessels are required to be drydocked for major
repairs and maintenance that cannot be performed while the vessels are operating. Drydockings occur approximately every 2.5 years.
The costs associated with the drydockings are capitalized and depreciated on a straight-line basis over the period between drydockings,
to a maximum of 2.5 years. At the date of acquisition of a vessel, we estimate the component of the cost that corresponds to the
economic benefit to be derived until the first scheduled drydocking of the vessel under our ownership and this component is depreciated
on a straight-line basis over the remaining period through the estimated drydocking date. We expect that drydocking costs will
increase as our vessels age and if we acquire additional vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Amortization of Fair Value of Time Charter
Attached to Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the Company acquires a vessel subject to
a time charter, it amortizes the amount of the component that is attributable to favorable or unfavorable terms relative to market
terms and is included in the cost of that vessel, over the remaining term of the lease. The amortization is included in line &ldquo;amortization
of fair value of time charter attached to vessels&rdquo; in the income statement component of the consolidated statement of comprehensive
(loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Administrative Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our administrative expenses include payroll
expenses, traveling, promotional and other expenses associated with us being a public company, which include the preparation of
disclosure documents, legal and accounting costs, director and officer liability insurance costs and costs related to compliance.
We expect that our administrative expenses will increase as we enlarge our fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Administrative Expenses Payable to Related
Parties</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our administrative expenses payable to related
parties include cash remuneration of our executive officers and directors and rental of our office space.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Share Based Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We operate an equity-settled, share based
compensation plan. The value of the service received in exchange of the grant of shares is recognized as an expense. The total
amount to be expensed over the vesting period, if any, is determined by reference to the fair value of the share awards at the
grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive
(loss)/income, with a corresponding impact in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Impairment Loss</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We assess at each reporting date whether there
is an indication that a vessel that we own may be impaired. The vessel&rsquo;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 (loss)/income.
A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset&rsquo;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 reversal is recognized in the consolidated statement
of comprehensive (loss)/income. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&rsquo;s
revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Gain/ (Loss) on Sale of Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gain or loss on the sale of vessels is the
residual value remaining after deducting from the vessels&rsquo; sale proceeds, the carrying value of the vessels at the respective
date of delivery to their new owners and the total expenses associated with the sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 67; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Other (Expenses)/ Income, Net</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We include other operating expenses or income
that is not classified otherwise. It mainly consists of provisions for insurance claims deductibles and refunds from insurance
claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Interest Income from Bank Balances &amp;
Bank Deposits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We earn interest on the funds we have deposited
with banks as well as from short-term certificates of deposit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Interest Expense and Finance Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We incur interest expense and financing costs
in connection with the indebtedness under our credit arrangements, including the Kelty Loan Agreement (prior to its termination),
the DVB Loan Agreement (prior to its termination), the Hamburg Commercial Loan Agreement, the Macquarie Loan Agreement, the Firment
Credit Facility (prior to its termination), the Silaner Credit Facility (prior to its termination) and the Firment Shipping Credit
Facility that we entered into in November 2018. We also incurred financing costs in connection with establishing those arrangements,
which is included in our finance costs and amortization and write-off of deferred finance charges. As of December 31, 2018, 2017
and 2016, we had $37.9 million, $41.7 million and $65.8 million of indebtedness outstanding under our then existing credit arrangements,
respectively. We incurred interest expense and financing costs relating to our outstanding debt as well as our available but undrawn
Credit Facility, if any. We will incur additional interest expense in the future on our outstanding borrowings and under future
borrowings to finance future acquisitions. Please see &ldquo;Item 5.B. Liquidity and Capital Resources&mdash;Indebtedness&rdquo;
for further information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Gain/ (Loss) on Sale of Subsidiary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gain or loss on disposal of subsidiary is
the difference between (a) the carrying amount of the net assets and (b) the proceeds of sale. In 2016 we reached a settlement
agreement with Commerzbank subsequent to which we disposed Kelty Marine Ltd., the owner of m/v Energy Globe. The result from the
sale of Kelty Marine Ltd. was a gain of $2.3 million (including the partial write-off of the outstanding balance of the Commerzbank
loan), which is classified under &ldquo;Gain from sale of subsidiary&rdquo; in the consolidated statement of comprehensive (loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Gain/ (Loss) on Derivative Financial Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Derivative financial instruments, including
embedded derivative financial instruments, are initially recognized at fair value on the date a derivative contract is entered
into and are subsequently remeasured at fair value. Changes in the fair value of these derivative instruments are recognized immediately
in the income statement component of the consolidated statement of comprehensive (loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Foreign Exchange Gains/ (Losses), Net</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We generate substantially all of our revenues
from the trading of our vessels in U.S. dollars but incur a portion of our expenses in currencies other than the U.S. dollar.
We convert U.S. dollars into foreign currencies to pay for our non-U.S. dollar expenses, which we then hold on deposit until the
date of each transaction. Fluctuations in foreign exchange rates create foreign exchange gains or losses when we mark-to-market
these non-U.S. dollar deposits. Because a portion of our expenses is payable in currencies other than the U.S. dollar, our expenses
may from time to time increase relative to our revenues as a result of fluctuations in exchange rates, which could affect the
amount of net income that we report in future periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Factors Affecting Our Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that the important measures for
analyzing trends in our results of operations consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Ownership
                                         days</I>. We define ownership days as the aggregate number of days in a period during
                                         which each vessel in our fleet has been owned by us. Ownership days are an indicator
                                         of the size of our fleet over a period and affect both the amount of revenues and the
                                         amount of expenses that we record during a period.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Available
                                         days</I>. We define available days as the number of our ownership days less the aggregate
                                         number of days that our vessels are off-hire due to scheduled repairs or repairs under
                                         guarantee, vessel upgrades or special surveys. The shipping industry uses available days
                                         to measure the number of days in a period during which vessels should be capable of generating
                                         revenues.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 68; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Operating
                                         days</I>. Operating days are the number of available days in a period less the aggregate
                                         number of days that the vessels are off-hire due to any reason, including unforeseen
                                         circumstances. The shipping industry uses operating days to measure the aggregate number
                                         of days in a period during which vessels generate revenues.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Fleet
                                         utilization</I>. We calculate fleet utilization by dividing the number of our operating
                                         days during a period by the number of our available days during the period. The shipping
                                         industry uses fleet utilization to measure a company&rsquo;s efficiency in finding suitable
                                         employment for its vessels and minimizing the amount of days that its vessels are off-hire
                                         for reasons other than scheduled repairs or repairs under guarantee, vessel upgrades
                                         and special surveys.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Average
                                         number of vessels</I>. We measure average number of vessels by the sum of the number
                                         of days each vessel was part of our fleet during a relevant period divided by the number
                                         of calendar days in such period.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>TCE
                                         rates</I>. We define TCE rates as our revenue less net revenue from our bareboat charters
                                         less voyage expenses during a period divided by the number of our available days during
                                         the period excluding bareboat charter days, which is consistent with industry standards.
                                         TCE is a non-GAAP measure. TCE rate is a standard shipping industry performance measure
                                         used primarily to compare daily earnings generated by vessels on time charters with daily
                                         earnings generated by vessels on voyage charters, because charter hire rates for vessels
                                         on voyage charters are generally not expressed in per day amounts while charter hire
                                         rates for vessels on time charters generally are expressed in such amounts.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reflects our ownership
days, available days, operating days, average number of vessels and fleet utilization for the periods indicated.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2018</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2017</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2016</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2015</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">2014</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -9pt; padding-left: 9pt">Ownership days</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,908</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,380</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,555</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Available days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,513</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Operating days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,723</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,830</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,252</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Bareboat charter days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">365</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Fleet utilization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99.5</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Average number of vessels</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Daily time charter equivalent (TCE) rate*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,213</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,993</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Amounts subject to rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We utilize TCE because we believe it is a
meaningful measure to compare period-to-period changes in our performance despite changes in the mix of charter types (i.e., voyage
charters, spot charters and time charters) under which our vessels may be employed between the periods. Our management also utilizes
TCE to assist them in making decisions regarding employment of our vessels. We believe that our method of calculating TCE is consistent
with industry standards and is determined by dividing revenue after deducting voyage expenses, and net revenue from our bareboat
charters, by available days for the relevant period excluding bareboat charter days. Voyage expenses primarily consist of brokerage
commissions and port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charter
under a time charter contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reflects the Voyage Revenues
to Daily Time Charter Equivalent (&ldquo;TCE&rdquo;) Reconciliation for the periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="18" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>(Expressed&nbsp;in&nbsp;Thousands&nbsp;of&nbsp;U.S.&nbsp;Dollars,
    except&nbsp;number&nbsp;of&nbsp;days&nbsp;and&nbsp;daily</B><BR>
    <B>TCE&nbsp;rates)</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 45%; text-align: left">Voyage revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">17,354</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">13,852</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">8,423</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">12,252</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">25,691</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Less: Voyage expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,352</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">954</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,567</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Less: bareboat charter net revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">304</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,006</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue excluding bareboat charter net revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,469</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,027</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,118</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Available days net of bareboat charter days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,314</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,148</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Daily TCE rate*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,213</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,993</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,969</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Amounts subject to rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 69; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a discussion of our operating
results for the year ended December 31, 2018 compared to the year ended December 31, 2017 and for the year ended December 31,
2017 compared to the year ended December 31, 2016. Variances are calculated on the numbers presented in the discussion over operating
results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Year ended December
31, 2018 compared to the year ended December 31, 2017</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 and 2017, our fleet
consisted of five dry bulk vessels (four Supramaxes and one Panamax) with an aggregate carrying capacity of 300,571 dwt. During
the years ended December 31, 2018 and 2017, we had an average of 5.0 dry bulk vessels in our fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2018, we
had an operating loss of $1.4 million while during the year ended December 31, 2017, we had an operating loss of $4.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voyage revenues</I>. Voyage revenues increased
by $3.5 million, or 25%, to $17.4 million in 2018, compared to $13.9 million in 2017. The increase is primarily attributable to
an increase in average TCE rates. In 2018, we had total operating days of 1,723 and fleet utilization of 98.2%, compared to 1,745
operating days and a fleet utilization of 97.6% in 2017. We also had 1,825 ownership days both in 2018 and 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Management &amp; consulting fee income.
</I>During 2018 we did not earn any income from management and consulting fees compared to $31,000 in 2017. In June 2016, Globus
Shipmangement Corp., our ship management subsidiary, entered into a consultancy agreement with Eolos Shipmanagement S.A., a related
party, for the purpose of providing consultancy services to Eolos Shipmanagement S.A., which was terminated on January 31, 2017.
For these services we received a daily fee of $1,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voyage expenses.</I> Voyage expenses decreased
by $0.2 million, or 14%, to $1.2 million in 2018, compared to $1.4 million in 2017. The decrease is mainly attributed to the decrease
in bunkers expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: #FDFDFD"><I>Vessel operating
expenses.</I> Vessel operating expenses increased by $0.8 million, or 9%, to $9.9 million in 2018, compared to $9.1 million in
2017. The breakdown of our operating expenses for the year 2018 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: #FDFDFD">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 30%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: justify">Crew expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; text-align: right">48</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Repairs and spares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Insurance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Stores</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Lubricants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The increase is mainly attributed to the increase
of the daily operating expenses of the vessels. Daily vessel operating expenses were $5,438 in 2018 compared to $5,005 in 2017,
representing an increase of 9%. The increase is mainly attributed to the increase of the weighted average age of the vessels in
our fleet from 9.8 years as of December 31, 2017 to 10.8 years as of December 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Depreciation</I>. Depreciation decreased
by $0.3 million, or 6%, to $4.6 million in 2018, compared to $4.9 million in 2017 due to the increase of the scrap rate from $250/ton
to $300/ton during the first quarter of 2018 due to the increased scrap rates worldwide. This resulted to a reduced depreciation
expense of approximately $178,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Administrative expenses payable to related
parties.</I> Administrative expenses payable to related parties increased by $14,000, or 3%, to $528,000 in 2018 compared to $514,000
in 2017. This was attributed mainly to unfavorable exchange rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 70; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Administrative expenses.</I> Administrative
expenses increased by $0.2 million or 17% to $1.4 million in 2018 from $1.2 million in 2017 mainly due to the increase in personnel
expenses by $0.2 million, from $0.6 million in 2017 to $0.8 million in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Share-based payments.</I> Share-based payments
for 2018 and 2017 amounted to $40,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Interest expense and finance costs.</I>
Interest expense and finance costs decreased by $0.1 million, or 5%, to $2.1 million in 2018, compared to $2.2 million in 2017.
Our weighted average interest rate for 2018 was 4.97% compared to 3.8% during 2017. Total borrowings outstanding as of December
31, 2018 amounted to $37.9 million compared to $41.7 million as of December 31, 2017. All of our credit and loan facilities are
denominated in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Year ended December
31, 2017 compared to the year ended December 31, 2016</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2017 and 2016, our fleet
consisted of five dry bulk vessels (four Supramaxes and one Panamax) with an aggregate carrying capacity of 300,571 dwt. During
the years ended December 31, 2017 and 2016 we had an average of 5.0 and 5.2 dry bulk vessels in our fleet, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2017, we
had an operating loss of $4.0 million, while during the year ended December 31, 2016, we had an operating loss of $7.2 million
including a net gain of $2.3 million from the sale of our subsidiary Kelty Marine Ltd, owner of vessel <I>m/v Energy Globe</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voyage revenues</I>. Voyage revenues increased
by $5.5 million, or 66%, to $13.9 million in 2017, compared to $8.4 million in 2016. The increase is primarily attributable to
an increase in average TCE rates. In 2017, we had total operating days of 1,745 and fleet utilization of 97.6%, compared to 1,830
operating days and a fleet utilization of 97.1% in 2016. We also had 1,825 ownership days in 2017 compared to 1,908 in 2016 due
to the sale of vessel-owning subsidiary Kelty Marine Ltd. which owned m/v <I>Energy Globe</I> in March 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Management &amp; consulting fee income.
</I>During 2017 we earned income from management and consulting fees totaling $31,000 compared to $278,000 in 2016. After the
sale of Kelty Marine Ltd. to its new owners, in March 2016, our Manager continued to act as Kelty Marine Ltd.&rsquo;s ship manager
at a rate of $900 per day until June 2016 when it ceased being its manager. In June 2016, Globus Shipmangement Corp., our ship
management subsidiary, entered into a consultancy agreement with Eolos Shipmanagement S.A., a related party, for the purpose of
providing consultancy services to Eolos Shipmanagement S.A., which was terminated on January 31, 2017. For these services we received
a daily fee of $1,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voyage expenses.</I> Voyage expenses increased
by $0.4 million, or 40%, to $1.4 million in 2017, compared to $1.0 million in 2016. The increase is mainly attributed to the increase
in commissions due to the increased Voyage revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: #FDFDFD"><I>Vessel operating
expenses.</I> Vessel operating expenses increased by $0.4 million, or 5%, to $9.1 million in 2017, compared to $8.7 million in
2016. The breakdown of our operating expenses for the year 2017 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: #FDFDFD">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 30%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: justify">Crew expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; text-align: right">51</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Repairs and spares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Insurance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Stores</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Lubricants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The increase is mainly attributed to the increase
of the daily operating expenses of the vessels. Daily vessel operating expenses were $5,005 in 2017 compared to $4,533 in 2016,
representing an increase of 10%. The increase is mainly attributed to the increase of the weighted average age of the vessels
in our fleet from 8.8 years as of December 31, 2016 to 9.8 years as of December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Depreciation</I>. Depreciation decreased
by $0.1 million, or 2%, to $4.9 million in 2017, compared to $5.0 million in 2016 due to the increase of the scrap rate from $200/ton
to $250/ton during the third quarter of 2017 due to the increased scrap rates worldwide. This resulted to a reduced depreciation
expense of approximately $86,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 71; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Administrative expenses payable to related
parties.</I> Administrative expenses payable to related parties increased by $163,000, or 46%, to $514,000 in 2017 compared to
$351,000 in 2016. This was attributed mainly to the compensation of our CEO, who is a related party to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Administrative expenses.</I> Administrative
expenses decreased by $0.9 million, or 43% to $1.2 million in 2017 from $2.1 million in 2016 mainly due to the decrease in personnel
expenses by $0.4 million, from $1.0 million in 2016 to $0.6 million in 2017. In 2016 personnel expenses included the redemption
of the 2,567 Series A Preferred Shares held by our former CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Share-based payments.</I> Share-based payments
decreased for 2017 to $40,000, from $50,000 that was in 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Gain from sale of subsidiary.</I> In March
2016, the Company entered into an agreement with Commerzbank to sell the shares of Kelty Marine Ltd., to an unaffiliated third
party and apply the total net proceeds from the sale towards the respective loan facility to settle the remaining principal amount
of the loan. The financial effect from the sale of Kelty Marine Ltd. resulted to a net gain of $2.3 million. Globus Shipmanagement
Corp., the Company&rsquo;s ship management subsidiary continued to act as Kelty Marine Ltd.&rsquo;s ship manager at a rate of
$900 per day until June 2016, when it ceased being its manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Interest expense and finance costs.</I>
Interest expense and finance costs decreased by $0.5 million, or 19%, to $2.2 million in 2017, compared to $2.7 million in 2016.
The decrease is mainly attributed to the conversion of $20 million of outstanding principal of two loans to 20 million shares,
pursuant to two loan amendment agreements that we entered in February 2017. Our weighted average interest rate for 2017 was 3.8%
compared to 3.5% during 2016. Total borrowings outstanding as of December 31, 2017 amounted to $41.7 million compared to $65.8
million as of December 31, 2016. All of our credit and loan facilities are denominated in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Inflation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inflation has only a moderate effect on our
expenses given current economic conditions. In the event that significant global inflationary pressures appear, these pressures
would increase our operating, voyage, administrative and financing costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Critical Accounting Policies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The discussion and analysis of our financial
condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance
with IFRS as issued by the IASB. The preparation of those consolidated financial statements requires us to make estimates and
judgments that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure of contingent
assets and liabilities at the date of our consolidated financial statements. Actual results may differ from these estimates under
different assumptions and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Critical accounting policies are those that
reflect significant judgments of uncertainties and potentially result in material different results under different assumptions
and conditions. We have described below what we believe are our most critical accounting policies, because they generally involve
a comparatively higher degree of judgment in their application. For a description of all our significant accounting policies,
see Note 2 to our consolidated financial statements included in this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Our ability to continue as a going concern
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When assessing our ability to continue as
a going concern, our management must make judgments and estimates about various aspects of our business, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">plans
                                         to raise new funds, restructure our debt and reorganize our capital structure;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         timing and amount of cash flows from operating activities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         marketability of assets to be disposed of and the timing and amount of related cash proceeds
                                         to be used to repay our indebtedness;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">plans
                                         to reduce and delay our expenditures;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">our
                                         ability to comply with the various debt covenants; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 72; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         present and future regulatory, business, credit and competitive environment in which
                                         we operate.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These factors individually and collectively
will have a significant effect on our financial condition and results of operations and on our ability to generate sufficient
cash to repay our indebtedness as it becomes due. All of our vessels are pledged as collateral to the banks, and therefore if
we were to sell one or more vessels, the net proceeds of such sale would be used first to repay the outstanding debt to which
the vessel is collateralized with, and the remainder, if any, would be for our use, subject to the terms of our remaining loan
and credit arrangements. However, the doubts raised relating to our ability to continue as a going concern may make our securities
an unattractive investment for potential investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we were not in compliance
with the loan covenants of certain of our loan agreements constituting an event of default. An event of default has occurred under
Hamburg Commercial Loan Agreement, and due to cross-default provisions included in the Macquarie Loan Agreements, our lenders
can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and
proceed against the collateral securing that debt, which could constitute all or substantially all of our assets. Furthermore,
the outstanding balance of the loan due to Hamburg Commercial Bank is to be settled through December 2019. Our Convertible Note
also contains a cross-default provision that is triggered upon a material default or an event of default under an existing agreement
which would or is likely to have a material adverse effect on the Company or any of its subsidiaries, individually or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, because we did not have an unconditional
right to defer settlement of the related liability for at least twelve months after the date of the consolidated statement of
financial position and the fact that we have not refinanced the loan due to Hamburg Commercial Bank prior to December 31, 2018,
the total balance of the loans outstanding to Macquarie Bank International Limited and Hamburg Commercial Bank AG of $35.4 million
at December 31, 2018, has been classified as current. As a result, as of December 31, 2018, we reported a working capital deficit
of $40.4 million and our cash flow projections indicated that cash on hand and cash provided by operating activities might not
be sufficient to cover the liquidity needs that may become due in the twelve-month period ending following the issuance of these
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The above conditions raise substantial doubt
about our ability to continue as a going concern. We are exploring several alternatives aiming to manage our working capital requirements
and other commitments, including drawdown of additional funds available under the facility with Firment Shipping Inc, if needed
raising of additional debt and discussions with other financial institutions and private funds to provide us with refinancing
for our existing loans. We expect that the lenders will not demand payment of our loans before their maturity, provided that we
pay scheduled loan instalments and accumulated interest as they fall due under the existing loan agreements. We plan to settle
loan interest and scheduled loan repayments with cash on hand and cash that we expect to generate from our operations and from
financing activities. If for any reason we are unable to continue as a going concern, this could have an impact on our ability
to realize our assets at their recognized values and to extinguish liabilities in the normal course of business at the amounts
stated in these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Impairment of Long-Lived Assets:</I> We
assess at each reporting date whether there is an indication that a vessel may be impaired. The vessel&rsquo;s recoverable amount
is estimated when events or changes in circumstances indicate the carrying value may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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. This assessment is made at the individual vessel level as separately identifiable cash flow
information for each vessel is available. We determine the fair value of our assets based on management estimates and assumptions
and by making use of available market data and taking into consideration third party valuations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Discounted future cash flows for each vessel
were determined and compared to the vessel&rsquo;s carrying value. The projected net discounted future cash flows for the first
year were determined by considering an estimate daily time charter equivalent based on the most recent blended (for modern and
older vessels) FFA (i.e., Forward Freight Agreements) time charter rate for the remaining year of 2019 for each type of vessel.
For the remaining useful life of the vessels the Company used the historical ten-year blended average one-year time charter rates
substituting for the year 2016 that was considered as extreme value, with the year 2006. The rates were adjusted assuming an annual
growth rate of 1.7% as published by the International Monetary Fund, net of commissions. Expected outflows for scheduled vessels
maintenance were taken into consideration as well as vessel operating expenses assuming an average annual increase rate of approximately
1% based on the historical trend deriving from actual results for the Company&rsquo;s vessels since their delivery under Company&rsquo;s
technical management. The average time charter rates used were in line with the overall chartering strategy, especially in periods/years
of depressed charter rates; reflecting the full operating history of vessels of the same type and particulars with the Company&rsquo;s
operating fleet (Supramax and Panamax vessels with a deadweight tonnage (&ldquo;dwt&rdquo;) of over 50,000 and 70,000, respectively)
and they covered at least one full business cycle. Effective fleet utilization was assumed at 90% (including ballast days), taking
into account the period(s) each vessel is expected to undergo her scheduled maintenance (drydocking and special surveys), as well
as an estimate of the period(s) needed for finding suitable employment and off-hire for reasons other than scheduled maintenance,
assumptions in line with the Company&rsquo;s expectations for future fleet utilization under the current fleet deployment strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 73; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, in terms of our estimates for
the charter rates for the unfixed period, we consider that the FFA for the remaining year of 2019, which is applied in our model
for the first year which is not fixed, approximates historical low levels and fully reflects the conceivable downside scenario.
We, however, sensitized our model with regards to freight rate assumptions for the unfixed period beyond the first three years.
Our sensitivity analysis revealed that, to the extent the historical rates would not decline by more than a range of 3% to 14%,
depending on the vessel, we would not require to recognize additional impairment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Impairment losses are recognized in the consolidated
statement of comprehensive (loss)/income. A previously recognized impairment loss is reversed only if there has been a change
in the estimates used to determine the asset&rsquo;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 reversal is recognized in the consolidated statement of comprehensive (loss)/income. After such a reversal,
the depreciation charge is adjusted in future periods to allocate the asset&rsquo;s revised carrying amount, less any residual
value, on a systematic basis over its remaining useful life.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2018, 2017
and 2016 we did not recognize an impairment loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on market observations as of December
31, 2018 and 2017, our vessels may have current market values below their carrying values. However, we believe that we will recover
their carrying values through the end of their useful lives, based on their discounted cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although we believe that the assumptions used
to evaluate impairment are reasonable and appropriate, these assumptions are highly subjective and we are not able to estimate
the variability between the assumptions used and actual results that is reasonably likely to result in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December&nbsp;31, 2018 and 2017, we
owned and operated a fleet of five vessels, with an aggregate carrying value of $83.8 and $87.3 million, respectively. The carrying
value of each of our vessels does not necessarily represent its fair market value or the amount that could be obtained if the
vessel were sold. Our estimates of the market values assume that the vessels are in good and seaworthy condition without need
for repair and, if inspected, would be certified as being in class without any recommendations of any kind. Because vessel values
are highly volatile, these estimates may not be indicative of either current or future prices that we could achieve if we were
to sell any of the vessels. We would not record impairment for any of the vessels for which the fair market value is below its
carrying value unless and until we either determine to sell the vessel for a loss or determine that the vessel&rsquo;s carrying
amount is not recoverable. We believe that the discounted projected net operating cash flows over the estimated remaining useful
lives for our vessels exceed their carrying values as of December 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 74; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A vessel-by-vessel carrying value summary
as of December&nbsp;31, 2018 and 2017 follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><B>Dry bulk Vessels</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Dwt</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Year</B><BR>
    <B>Built</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Month and Year of</B><BR>
    <B>Acquisition</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Purchase Price (in</B><BR>
    <B>millions of U.S.</B><BR>
    <B>Dollars)</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Carrying&nbsp;Value</B><BR>
    <B>as of December 31,</B><BR>
    <B>2018 (in millions of</B><BR>
    <B>U.S. Dollars)</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Carrying&nbsp;Value</B><BR>
    <B>as of December 31,</B><BR>
    <B>2017 (in millions of</B><BR>
    <B>U.S. Dollars)</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 22%; font-style: italic; text-align: left">m/v River Globe</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">53,627</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">2007</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">December 2007</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">57.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">15.8</TD><TD STYLE="width: 1%; text-align: left">*</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">16.3</TD><TD STYLE="width: 1%; text-align: left">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">m/v Sky Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,855</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.9</TD><TD STYLE="text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left">m/v Star Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,867</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.2</TD><TD STYLE="text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.0</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic">m/v Sun Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,790</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">September 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.9</TD><TD STYLE="text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.2</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left">m/v Moon Globe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,432</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2005</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.0</TD><TD STYLE="text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">83.8</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">87.3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>* Indicates vessels which we believe, as
of December 31, 2018 and 2017, may have fair values below their carrying values. As of December 31, 2018 and 2017, we believe
that the aggregate carrying value of these five vessels was $27.5 and $31.9 million, respectively, more than their market value.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Vessels, net:</I> Vessels are stated at
cost, less accumulated depreciation (including depreciation of drydocking costs and component attributable to favorable or unfavorable
lease terms relative to market terms) and accumulated impairment losses. Vessel cost consists of the contract price for the vessel
and any material expenses incurred upon acquisition (initial repairs, improvements and delivery expenses, interest and on-site
supervision costs incurred during the construction periods). Any seller&rsquo;s credit, which is the amounts received from the
seller of the vessels until date of delivery, is deducted from the cost of the vessel. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Vessels Depreciation:</I> The cost of each
of the Company&rsquo;s vessels is depreciated on a straight-line basis over each vessel&rsquo;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, if appropriate. Depreciation is based on the cost of the
vessel less its estimated residual value. Secondhand vessels are depreciated from the date of their acquisition through their
remaining estimated useful lives. A decrease in the useful life of a vessel or in its residual value would have the effect of
increasing the annual depreciation charge. When regulations place limitations over the ability of a vessel to trade on a worldwide
basis, its useful life is adjusted to end at the date such regulations become effective. During the fourth quarter of 2015 we
reduced the scrap rate from $335/ton to $240/ton due to the reduced scrap rates worldwide. This resulted to an extra depreciation
expense of $91,000 included in the consolidated statement of comprehensive (loss)/income for 2015. During the second quarter of
2016, we further reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide. This resulted to an
extra depreciation expense of $95,600 included in the consolidated statement of comprehensive (loss)/income for 2016. During the
third quarter of 2017, we adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates worldwide. This resulted
to a reduced depreciation expense of approximately $86,000 included in the consolidated statement of comprehensive (loss)/income
for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased
scrap rates worldwide. This resulted to a decrease of approximately $178,000 of the depreciation charge included in the consolidated
statement of comprehensive (loss)/income for 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Drydocking costs:</I> Vessels are required
to be drydocked for major repairs and maintenance that cannot be performed while the vessels are operating. Drydockings occur
approximately every 2.5 years. The costs associated with the drydockings are capitalized and depreciated on a straight-line basis
over the period between drydockings, 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 drydocking of the vessel
under our ownership and this component is depreciated on a straight-line basis over the remaining period through the estimated
drydocking date. Costs capitalized are limited to actual costs incurred, such as shipyard rent, paints and related works and surveyor
fees in relation to obtaining the class certification. If a drydocking is performed prior to the scheduled date, the remaining
unamortized balances of previous drydockings are immediately written off. Unamortized balances of vessels that are sold are written
off and included in the calculation of the resulting gain or loss in the period of the vessel&rsquo;s sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Amortization of lease component:</I> When
we acquire a vessel subject to a time charter, we amortize the amount of the component attributable to the favorable or unfavorable
terms of the time charter relative to market terms which is included in the cost of that vessel, over the remaining term of the
time charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 75; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Non-current assets held for sale:</I> Non-current
assets and disposal groups classified as held for sale are measured at the lower of carrying amount and fair value less costs
to sell. We determine the fair value of our assets based on management estimates and assumptions and by making use of available
market data and taking into consideration third party valuations. If the carrying amount exceeds fair value less costs to sell,
we recognize a loss under impairment loss in the income statement component of the consolidated statement of comprehensive (loss)/income.
Non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered through a sale
transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the
asset or disposal group is available for immediate sale in its present condition. Management must be committed to the sale, which
should be expected to qualify for recognition as a complete sale within one year from the date of classification. Events or circumstances
may extend the period to complete the sale beyond one year. An extension of the period required to complete a sale does not preclude
an asset from being classified as held for sale if the delay is caused by events or circumstances beyond the entity&rsquo;s control
and there is sufficient evidence that the entity remains committed to its plan to sell the asset. Property, plant and equipment
and intangible assets once classified as held for sale are not depreciated or amortized. If the Company has classified an asset
as held for sale but the criteria discussed above are no longer met, the Company ceases to classify the asset as held for sale.
The Company measures a non-current asset that ceases to be classified as held for sale at the lower of (1) its carrying amount
before the asset was classified as held for sale, adjusted for any depreciation, amortization or revaluation that would have been
recognized had the asset not been classified as held for sale and (2) its recoverable amount at the date of the subsequent decision
to cease classifying the asset as held for sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Trade receivables, net:</I> The amount
shown as trade receivables at each financial position date includes estimated recoveries from charterers for hire, freight and
demurrage billings, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component
are initially measured at their transaction price and subsequently measured at amortized cost less impairment losses, which are
recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible
accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Derivative financial instruments:</I> Derivative
financial instruments, including embedded derivative financial instruments, are initially recognized at fair value on the date
a derivative contract is entered into and are subsequently remeasured at fair value. The fair value of these instruments at each
reporting date is derived or corroborated by observable market data or estimated based on inputs from unobservable data. Depending
of the type of derivative financial instrument, inputs include quoted prices for similar assets, liabilities (risk adjusted) and
market-corroborated inputs, such as market comparables, interest rates, risk free rates, yield curves, dividend yields, volatility
of quoted market prices and other items that allow value to be determined. Changes in the fair value of these derivative instruments
are recognized immediately in the income statement component of the consolidated statement of comprehensive (loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Share based payments:</I> The Company measures
the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at
which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate
valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the
most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about
them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>B.&nbsp;&nbsp;Liquidity
and Capital Resources</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we had $1.35 million
in &ldquo;Restricted cash&rdquo;. In addition we had an amount of $12.8 million available to be drawn under a Revolving Credit
Facility dated November 21, 2018 with Firment Shipping Inc. as lender (the &ldquo;Firment Shipping Credit Facility&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we had an aggregate
debt outstanding of $36.9 million, which included $22.1 million from Hamburg Commercial Facility, $13.3 million from the Macquarie
Loan Agreement and $1.5 million from the Firment Shipping Credit Facility (for the year ended December 31, 2018, the amount drawn
and outstanding with respect to Firment Shipping Credit Facility was $2,200. The non-derivative host was classified under &ldquo;long-term
borrowings&rdquo; in the consolidated statement of financial position and was $1,500 and the derivative component that was initially
recognized amounted to $700 and was classified under &ldquo;fair value of derivative financial instruments&rdquo; in the consolidated
statement of financial position.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 76; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2017, we had $2.8 million
of &ldquo;cash and cash equivalents&rdquo; in bank deposits. We had also $0.2 million in &ldquo;Restricted cash&rdquo;. In addition
we had an amount of $3.0 million available to be drawn under the Silaner Credit Facility, although the Silaner Credit Facility
terminated in 2018 prior to the date of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2017, we had an aggregate
debt outstanding of $41.5 million, which included $24.8 million from Hamburg Commercial Facility and $16.7 million from the DVB
Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Please see &ldquo;Item 5.B. Liquidity and
Capital Resources&mdash;Indebtedness&rdquo; for further information about our loan agreements and credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our primary uses of funds have been vessel
operating expenses, general and administrative expenses, expenditures incurred in connection with ensuring that our vessels comply
with international and regulatory standards, financing expenses and repayments of bank loans. We do not have any commitments for
newbuilding contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since our operations began in 2006, we have
financed our capital requirements mainly through equity subscriptions from shareholders, long-term bank debt and cash from operations,
including cash from sales of vessels. To finance further vessel acquisitions of either new or secondhand vessels, we anticipate
that our primary sources of funds will be our current cash, cash from continuing operations, additional indebtedness to be raised
and, possibly, future equity or debt financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Working capital, which is current assets,
minus current liabilities, including for 2018 and 2017 the current portion of long-term debt, amounted to a working capital deficit
of $40.4 million as of December 31, 2018 and to a working capital deficit of $43.3 million as of December 31, 2017. If we are
unable to satisfy our liquidity requirements, we may not be able to continue as a going concern. All of our vessels are pledged
as collateral to the banks, and therefore if we were to sell one or more vessels, the net proceeds of such sale would be used
first to repay the outstanding debt to which the vessel collateralized, and the remainder, if any, would be for our use, subject
to the terms of our remaining loan and credit arrangements. The doubts raised relating to our ability to continue as a going concern
may make our securities an unattractive investment for potential investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2018, we entered into a credit
facility for up to $15.0 million with Firment Shipping Inc., a company related to us, for the purpose of financing our general
working capital needs. Any prepaid amount could be re-borrowed in accordance with the terms of the facility. As per the conversion
clause included in the Firment Shipping Credit Facility, we have recognized this agreement as a hybrid agreement which includes
an embedded derivative. This embedded derivative was separated to the derivative component and the non-derivative host. The derivative
component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value.
The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive
loss. For the year ended December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit Facility
was $2,200. The non-derivative host was classified under &ldquo;long-term borrowings&rdquo; in the consolidated statement of financial
position and was $1,500 and the derivative component that was initially recognized amounted to $700 and was classified under &ldquo;fair
value of derivative financial instruments&rdquo; in the consolidated statement of financial position. For the year ended December
31, 2018, we recognized a loss on this derivative financial instrument amounting to $131, which was classified under &ldquo;loss
on derivative financial instruments&rdquo; in the consolidated statement of comprehensive loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 8, 2017, we entered into a Share
and Warrant Purchase Agreement pursuant to which we sold for $5 million an aggregate of 500,000 of our common shares and warrants
to purchase 2.5 million of our common shares at a price of $16 per share (subject to adjustment) to a number of investors in a
private placement. We have used the proceeds from the sale of common shares and warrants for general corporate purposes and working
capital including repayment of debt. (These figures reflect the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">On October 19, 2017, we
entered into a Share and Warrant Purchase Agreement pursuant to which we sold for $2.5 million an aggregate of 250,000 of our
common shares and a warrant to purchase 1.25 million of our common shares at a price of $16 per share (subject to adjustment)
to an investor in a private placement. We have used part of the proceeds from the sale of common shares and warrants for general
corporate purposes and working capital including repayment of debt. (These figures reflect the 10-1 reverse stock split which
occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 13, 2019, the Company signed a securities
purchase agreement with a private investor and on March 13, 2019 issued, for gross proceeds of $5 million, a senior convertible
note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par value $0.004
per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures
upon the anniversary of its issue. We have used part of the proceeds from the Convertible Note for general corporate purposes
and working capital including repayment of debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 77; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Because of the global economic downturn that
has affected the international dry bulk industry and based on our cash flow projections for the period ending March 31, 2020,
cash on hand and cash generated from operating activities will not be sufficient for us to be in compliance with the minimum liquidity
requirements contained in certain of our loan and credit facilities or to cover scheduled debt payments due in this period. The
period of time that we will be able to continue to operate as a going concern will depend on our ability to restructure our loan
and credit arrangements and/or to finance our operations through the sale of vessels, selling securities through one or more private
placement or public offerings, through incurring debt, or other financing alternatives. All of our vessels are pledged as collateral
to the banks, and therefore if we were to sell one or more vessels, the net proceeds of such sale would be used first to repay
the outstanding debt to which the vessel is collateralized, and the remainder, if any, would be for our use, subject to the terms
of our remaining loan and credit arrangements. We acknowledge that uncertainty remains over our ability to meet our liabilities
as they fall due during the following twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents were $46,000 in
bank deposits as of December 31, 2018, $2.8 million as of December 31, 2017 and $0.2 million as of December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Restricted cash that consist of cash pledged
as collateral was $1.4 at the end of 2018 and $0.2 at the end of both 2017 and 2016. We consider highly liquid investments such
as bank time deposits with an original maturity of three months or less to be cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Net Cash Generated From / (Used
In) Operating Activities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash generated from operating activities
in 2018 amounted to $3.9 million compared to $0.6 million in 2017. The increase is primarily attributable to an increase in the
general shipping rates and average TCE rates achieved by the vessels in our fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash generated from operating activities
in 2017 amounted to $0.6 million compared to net cash used in operating activities of $3.6 million in 2016. The increase is primarily
attributable to an increase in the general shipping rates and average TCE rates achieved by the vessels in our fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Net Cash (Used In)/ Generated
From Investing Activities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash used in investing activities was
$0.1 million during the year ended December 31, 2018, which was mainly attributable to the purchase of new equipment for the office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash used in investing activities was
$0.3 million during the year ended December 31, 2017, which was mainly attributable to the purchase of new equipment for the vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash generated from investing activities
was $0.4 million during the year ended December 31, 2016, which was mainly attributable to net proceeds from the sale of one of
our subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Net Cash Generated From / (Used
in) Financing Activities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash used in financing activities during
the year ended December 31, 2018 amounted to $6.4 million and consisted of $2.2 million in proceeds drawn from the Firment Shipping
Credit Facility entered into for financing general working capital needs, $13.5 million drawn from Macquarie Loan Facility and
$0.6 million proceeds drawn from the issuance of share capital due to exercise of warrants, reduced by $16.7 million of indebtedness
that we repaid to DVB Loan Facility and $2.8 that we repaid to Hamburg Commercial Loan Facility, a $1.1 million decrease of pledged
bank deposits, a $0.2 payment of financing costs for Macquarie Loan Facility and $1.9 million of interest paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash generated from financing activities
during the year ended December 31, 2017 amounted to $2.2 million and consisted of $0.3 million in proceeds drawn from the Silaner
Credit Facility entered into for financing general working capital needs and $9.6 million proceeds drawn from the issuance of
share capital, reduced by $4.4 million of indebtedness that we repaid under our existing credit and loan facilities and $3.3 million
of interest paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash generated from financing activities
during the year ended December 31, 2016 amounted to $1.4 million and consisted of $5.9 million in proceeds drawn from the Firment
Credit Facility and the Silaner Credit Facility entered into for financing general working capital needs, reduced by $3.1 million
of indebtedness that we repaid under our existing credit and loan facilities, a $0.3 million decrease of pledged bank deposits
and $1.7 million of interest paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 78; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>Indebtedness</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We operate in a capital intensive industry
which requires significant amounts of investment, and we fund a portion of this investment through long-term bank debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, 2017 and 2016, we
and our vessel-owning subsidiaries had outstanding borrowings under the DVB Loan Agreement, the Kelty Loan Agreement, the Hamburg
Commercial Loan Agreement, the Firment Credit Facility, the Silaner Credit Facility, the Firment Shipping Credit Facility and
the Macquarie Loan Agreement of an aggregate of $37.9 million, $41.7 million and $65.8 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>DVB Loan Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2011, Globus through its wholly owned
subsidiaries, Artful Shipholding S.A. and Longevity Maritime Limited, entered into the DVB Loan Agreement for an amount up to
$40.0 million with DVB Bank SE and used funds borrowed thereunder to finance part of the purchase price for the <I>m/v Moon Globe
</I>and <I>m/v Sun Globe</I>. Globus acted as guarantor for this loan. Interest on outstanding loan balances were payable at LIBOR
plus 2.5% per annum and any outstanding amount under the DVB Loan Agreement could have been prepaid in a multiple of $500,000
with five days business prior written notice. A variable prepayment fee applied in case of refinancing of the DVB loan agreement
by another lender within the first three years of a new loan, but was not applicable in case of the sale of a vessel or repayment
of such facility by equity. The DVB Loan Agreement contained a standard security package, and financial and other covenants. As
at December 13, 2018, the balance of both tranches of approximately $15 million was fully repaid using the proceedings from the
New Loan Agreements with Macquarie Bank International Limited and with Firment Shipping Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Kelty Loan Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2010, our wholly owned subsidiary,
Kelty Marine Ltd., entered into a $26.7 million loan agreement, which we refer to as the Kelty Loan Agreement, with Deutsche Schiffsbank
Aktiengesellschaft (now Commerzbank) and used funds borrowed thereunder to finance part of the purchase price for the <I>m/v Energy
Globe</I> (formerly called <I>m/v Jin Star)</I>. We acted as guarantor for this loan. As described below, we reached a settlement
agreement terminating the Kelty Loan Agreement in March, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Kelty Loan Agreement had a term of seven
years and was payable in 28 equal quarterly installments of $500,000 starting in September 2010, as well as a balloon payment
of $12.65 million payable together with the 28th and final installment payable in June 2017. Interest on outstanding balances
under the Kelty Loan Agreement was payable at LIBOR plus a variable margin. The applicable margin was determined on the basis
of the &ldquo;loan to value ratio,&rdquo; which is a fraction where the numerator was the principal amount outstanding under the
Kelty Loan Agreement and the denominator was the charter free market value of the <I>m/v Energy Globe</I> (formerly called <I>m/v
Jin Star)</I> and any amount of free liquidity maintained with Commerzbank. Set forth below is the margin that would have applied
to the loan, depending on the applicable loan to value ratio in any given application period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><B>Loan to Value Ratio</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Margin</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left">Less than 45%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2.25</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Equal or greater than 45% and less than or equal to 60%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.40</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Greater than 60% and less than or equal to 70%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.50</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Greater than 70%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.75</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Kelty Marine could have prepaid the loan in
a minimum amount of $1 million and multiples thereof, up to $2 million per year without any penalty. The Kelty Loan Agreement
had a commitment fee of 0.5% per annum on the amount of the undrawn balance of the agreement through September 30, 2010, and had
a 0.75% flat management fee on the loan amount. The Kelty Loan Agreement contained a standard security package, and financial
and other covenants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2016, we reached a settlement agreement
with Commerzbank relating to the Kelty Loan Agreement. Commerzbank agreed to settle the outstanding indebtedness of $15.65 million
plus the accrued interest of $112,000 in return of the consideration from the sale of the shares of Kelty Marine Ltd. for $6.86
million plus overdue interest of $40,708. If the total amount of cash and bank balances and bank deposits exceeded $10 million
in the aggregate as declared on June 30, 2016 then we would have been required to pay to Commerzbank any excess amounts. Because
there was no excess, Globus was released from its guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 79; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Firment Credit Facility
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2013, Globus Maritime Limited
entered into a credit facility for up to $4.0 million with Firment Trading Limited, a related party to us, for the purpose of
financing our general working capital needs. The Firment Credit Facility was unsecured and remained available until it expired
on April 12, 2017. During December 2014 the credit limit of the facility increased from $4.0 million to $8.0 million and its final
maturity date was extended from December 12, 2015 to April 29, 2016. During December 2015 the credit limit of the facility increased
from $8.0 million to $20.0 million and its final maturity date was extended to April 12, 2017. In December 2015, the Firment Credit
Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall Islands corporation,
each of which is a related party to us. We had the right to drawdown any amount up to $20.0 million or prepay any amount, during
the availability period in multiples of $100,000. Any prepaid amount could have been re-borrowed in accordance with the terms
of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged on the
amounts remaining available and undrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2016, the amount drawn
and outstanding with respect to the facility was $17.4 million. As of December 31, 2016, there was an amount of $2.6 million available
to be drawn under the Firment Credit Facility. As of December 31, 2016 we were in compliance with the loan covenants of the Firment
Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the February 2017 private
placement, on February 8, 2017 Firment released an amount equal to $16,885,000 (but left an amount equal to $1,638,787 outstanding,
which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the
Company issued to Firment Shipping Inc., an affiliate of Firment, 16,885,000 common shares and a warrant to purchase 6,230,580
common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing of the February 2017 private placement,
Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. (These figures do not reflect the 10-1 reverse
stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Silaner Credit Facility
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2016, Globus Maritime Limited entered
into a credit facility for up to $3.0 million with Silaner Investments Limited, a related party to us, for the purpose of financing
our general working capital needs. The Silaner Credit Facility was unsecured and remained available until its final maturity date
on January 12, 2018. We had the right to drawdown any amount up to $3.0 million or prepay any amount in multiples of $100,000.
Any prepaid amount could have been re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding
amounts was charged at 5% per annum and no commitment fee is charged on the amounts remaining available and undrawn. As of December
31, 2016, the amount drawn and outstanding with respect to the facility was $3.1 million, which amount was approved by our board.
As of December 31, 2017, the amount drawn and outstanding with respect to the facility was $0. As of December 31, 2017 and 2016
we were in compliance with the loan covenants of the Silaner Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the February 2017 private
placement, on February 8, 2017 Silaner released an amount equal to the outstanding principal of $3,115,000 (but left an amount
equal to $74,048 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the
Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner, 3,115,000 common shares and
a warrant to purchase 1,149,437 common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing
of the February 2017 private placement, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. (These
figures do not reflect the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Hamburg Commercial
Loan Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2015, through our wholly owned
subsidiaries, Devocean Maritime Ltd. Domina Maritime Ltd. and Dulac Maritime S.A., we entered into the Hamburg Commercial Loan
Agreement for an amount up to $30.0 million with Hamburg Commercial Bank Ag (formerly known as HSH Nordbank AG) and used funds
borrowed thereunder with the purpose to part refinance our then existing Credit Facility with Credit Suisse. On March 3, 2015,
$29.4 million was drawn as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">$8.6 million was drawn (Tranche A) for the
purpose of prepaying the amount outstanding to our Credit Facility with Credit Suisse with respect to <I>m/v River Globe</I>.
Tranche A was originally payable in 19 quarterly installments of $239,115 starting in June 2015 and a balloon payment of $4.0
million payable together with the 19<SUP>th</SUP> and last installment payable in December 2019. The balance outstanding of Tranche
A at December 31, 2018 was $6,094,632 payable in 4 equal quarterly installments of $239,115 starting in March 2019, as well as
a balloon payment of $5,138,172 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 80; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">$10.1 million was drawn (Tranche B) for the
purpose of prepaying the amount outstanding to our Credit Facility with Credit Suisse with respect to <I>m/v Sky Globe</I>. Tranche
B was originally payable in 19 quarterly installments of $230,000 starting in June 2015 and a balloon payment of $5.7 million
payable together with the 19<SUP>th</SUP> and last installment payable in December 2019. The balance outstanding of Tranche B
at December 31, 2018 was $7,696,667 payable in 4 equal quarterly installments of $230,000 starting in March 2019, as well as a
balloon payment of $6,776,667 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">$10.7 million was drawn (Tranche C) for the
purpose of prepaying the amount outstanding to our Credit Facility with Credit Suisse with respect to <I>m/v Star Globe</I>. Tranche
C was originally payable in 19 quarterly installments of $224,480 starting in June 2015 and a balloon payment of $6.5 million
payable together with the 19<SUP>th</SUP> and last installment payable in December 2019. The balance outstanding of Tranche C
at December 31, 2018 was $8,371,347 payable in 4 equal quarterly installments of $224,480 starting in March 2019, as well as a
balloon payment of $7,473,427 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no amount remaining available to
be drawn under the Hamburg Commercial Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest on outstanding loan balances are
payable at LIBOR plus 3.0% per annum for interest periods of three months and at LIBOR plus 3.1% for interest periods of one month,
where interest periods are at the option of the borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Security</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our obligations under our Hamburg Commercial
Loan Agreement are secured by, among other things, a first preferred mortgage on three vessels (<I>m/v River Globe</I>, <I>m/v
Sky Globe</I> and <I>m/v Star Globe</I>). Our loan agreement is also secured by a first priority assignment of any time charter
or other contract of employment of any vessel that acts as security, a first priority account pledge over the operating account
of the vessel-owning company and an assignment of the vessel&rsquo;s insurances and earnings. Each of the vessel-owning subsidiaries
that owns a vessel pledged as security under our loan agreement has agreed to the obligations under the facility. Globus Maritime
Limited acts as guarantor for this loan and pledged the shares of each of the ship owning subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to the below, the Hamburg Commercial
Loan Agreement contains various covenants requiring the vessel owning companies and Globus to, among others things, ensure that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         aggregate fair market value of the mortgaged vessels and any additional security must
                                         equal or exceed 125% of the outstanding balance under the loan agreement. As of December
                                         31, 2018, this covenant was satisfied.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         ratio of Globus&rsquo;s total liabilities to its market adjusted total assets shall always
                                         be not higher than 0.75:1.00. As of December 31, 2018, this ratio was 0.77, therefore
                                         this covenant was not satisfied.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Globus
                                         to maintain a minimum market adjusted net worth of more than or equal to $30.0 million.
                                         As of December 31, 2018, Globus had a net worth of approximately $13.6 million, $16.4
                                         million less than the initial requirement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         vessel owning subsidiaries must each maintain a minimum liquidity of $250,000 in an account
                                         pledged to the bank. As of December 31, 2018, this covenant was not satisfied.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Globus
                                         shall maintain a minimum liquidity of greater than 5% of its consolidated indebtedness,
                                         except during the period from June 3, 2016 ending March 3, 2018 during which this requirement
                                         is waived. As of December 31, 2018, Globus had approximately 0.1% of its consolidated
                                         indebtedness; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the
                                         borrowers are restricted from making dividends so long as any amount that was payable
                                         in 2017 and deferred as described below remains outstanding.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 81; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The change in Georgios Feidakis&rsquo;s ultimate
beneficial ownership or control of the Company on December 10, 2018 below 50% (44.3% as of December 31, 2018) also constitutes
an event of default under the Hamburg Commercial Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 10, 2017, the Company reached an agreement
with Hamburg Commercial Bank AG to amend the Hamburg Commercial Loan including amendments to relax or waive certain covenants
of the original loan agreement until March 3, 2018. The Company paid in September 2017 $1 million for prepayment of debt and the
four scheduled principal installments due within 2017, each amounting to $693,595, were deferred to the balloon payment. In addition,
we also undertook the liability to raise new equity of at least $1,800,000 which has been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Macquarie Loan Agreement and Hamburg Commercial
Loan Agreement contain cross-default provisions that provide that if the Company is in default under any of its loan or credit
arrangements, the lender of another loan or credit arrangement can declare a default under its other loan or credit arrangement,
which could result in the Company&rsquo;s default in all of its loan and credit arrangements with unaffiliated third parties.
Because of the presence of cross-default provisions in these loan and credit arrangements, the refusal of any lender to grant
or extend a relaxation or a waiver could result in most of its indebtedness being accelerated, notwithstanding that other lenders
have relaxed or waived covenant defaults under their respective loan arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we were not in compliance
with the aforementioned covenants included in our loan agreement with Hamburg Commercial Bank AG. The Macquarie Loan Agreement
contains a cross-default provision, which means that we are in default under the Macquarie Loan Agreement, even though as of December
31, 2018 we were in compliance with all of our other obligations under the Macquarie Loan Agreement. Accordingly, our lenders
can presently elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and
payable and proceed against the collateral securing that debt, which could constitute all or substantially all of our assets.
As of the date of issuance of these consolidated financial statements, no such action had been taken by the lenders against the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Convertible Note also contains a cross-default
provision that is triggered upon a material default or an event of default under an existing agreement which would or is likely
to have a material adverse effect on the Company or any of its subsidiaries, individually or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Firment Shipping Credit
Facility</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2018, we entered into a credit
facility for up to $15 million with Firment Shipping Inc., a related party to us, for the purpose of financing its general working
capital needs. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at November
19, 2020. We have the right to drawdown any amount up to $15 million or prepay any amount in multiples of $100,000. Any prepaid
amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at
7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable the last day
of a period of three months after the Drawdown Date, after this period in case of failure to pay any sum due a default interest
of 2% per annum above the regular interest is charged. We have also the right, in our sole option, to convert in whole or in part
the outstanding unpaid principal amount and accrued but unpaid interest under this Agreement into Common stock. The Conversion
price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the Common Stock on
the Principal Market on any Trading Day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. over
the Pricing Period multiplied by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive Trading Days immediately
preceding the date on which the Conversion Notice was executed or (ii) $2.80.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Firment Shipping Credit Facility required
that Athanasios Feidakis remain our Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in
us, other than due to actions taken by Firment Shipping, such as sales of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 we were in compliance
with the loan covenants of the Firment Shipping Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Macquarie Loan Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2018, through our wholly owned
subsidiaries, Artful Shipholding S.A. (&ldquo;Artful&rdquo;) and Longevity Maritime Limited (&ldquo;Longevity&rdquo;), we entered
into the Macquarie Loan Agreement for an amount up to $13.5 million with Macquarie Bank International Limited and used funds borrowed
thereunder to refinance part of the repayment of the existing DVB Loan Agreement for the m/v Moon Globe and m/v Sun Globe. Globus
acts as guarantor for this loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 82; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2018, $6 million (Artful Advance)
and $7.5 million (Longevity Advance) were drawn down for the purpose of partly refinancing the existing DVB Loan Agreement for
m/v <I>Moon Globe</I> and m/v <I>Sun Globe</I>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The loan is secured by, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">First
                                         preferred mortgage over m/v <I>Moon Globe</I> and m/v <I>Sun Globe</I>.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Joint
                                         and several liability of the vessel owning companies and a guarantee from Globus.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Assignment
                                         of all insurances and earnings of the mortgaged vessels.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Account
                                         pledges respecting the dry dock reserve accounts and earnings accounts of the subsidiaries
                                         described in the loan agreement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The original loan agreement and/or the original
Globus guarantee contains various covenants requiring the vessel owning companies and/or Globus to, amongst others things, ensure
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The
                                         aggregate fair market value of the m/v <I>Sun Globe </I>and the m/v <I>Moon Globe</I>
                                         must equal or exceed 160% of the outstanding balance under the loan.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The
                                         vessel owning subsidiaries must each maintain a minimum liquidity of $375,000 in an account
                                         pledged to the Bank per vessel owned by the vessel owning companies.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Each
                                         Borrower shall ensure that has a Dry Dock Reserve Account which is credited with sufficient
                                         funding to cover the forecast dry-docking, special survey and ballast water compliance
                                         expenses for each Ship at least three months prior to the date such expenses are to be
                                         incurred.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, an event of default
occurred under the Hamburg Commercial Loan Agreement. The Macquarie Loan Agreement contains a cross-default provision, which means
that we are in default under the Macquarie Loan Agreement, even though as of December 31, 2018 we were in compliance with all
of our other obligations under the Macquarie Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not obtained further waivers and breached
covenants contained in Hamburg Commercial Loan Agreement constituting an event of default. Due to cross-default provisions included
in Macquarie Loan Agreement, our lenders can elect to declare the outstanding debt, together with accrued interest and other fees,
to be immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially
all of our assets. As of the date of issuance of these consolidated financial statements no such action had been taken by the
lenders against us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Convertible Note also contains a cross-default
provision that is triggered upon a material default or an event of default under an existing agreement which would or is likely
to have a material adverse effect on the Company or any of its subsidiaries, individually or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The major trading currency of our business
is the U.S. dollar. Movements in the U.S. dollar relative to other currencies can potentially impact our operating and administrative
expenses and therefore our operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2008, in an effort to mitigate
the exposure to interest rate movements, we entered into two interest rate swap agreements for a notional amount of $25.0 million
in total. Both interest rate swap agreements reached maturity in November 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that we have a low risk approach
to treasury management. Cash balances are invested in term deposit accounts, with their maturity dates projected to coincide with
our liquidity requirements. Credit risk is diluted by placing cash on deposit with a variety of institutions in Europe, including
a small number of banks in Greece, which are selected based on their credit ratings. We have policies to limit the amount of credit
exposure to any particular financial institution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, 2017 and 2016, we
did not use any financial instruments designated in our consolidated financial statements as those with hedging purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 83; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Capital Expenditures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We make capital expenditures from time to
time in connection with our vessel acquisitions or vessel improvements. We have no agreements to purchase any additional vessels,
but may do so in the future. We expect that any purchases of vessels will be paid for with cash from operations, with funds from
new credit facilities from banks with whom we currently transact business, with loans from banks with whom we do not have a banking
relationship but will provide us funds at terms acceptable to us, with funds from equity or debt issuances or any combination
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We incur additional capital expenditures when
our vessels undergo surveys. This process of recertification may require us to reposition these vessels from a discharge port
to shipyard facilities, which will reduce our operating days during the period. The loss of earnings associated with the decrease
in operating days, together with the capital needs for repairs and upgrades, is expected to result in increased cash flow needs.
We expect to fund these expenditures with cash on hand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>C.&nbsp;&nbsp;Research
and Development, Patents and Licenses, etc.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We incur, from time to time, expenditures
relating to inspections for acquiring new vessels that meet our standards. Such expenditures are insignificant and they are expensed
as they incur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>D.&nbsp;&nbsp;Trend
Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Please read &ldquo;Item 4.B.&nbsp;&nbsp;Information
on the Company&mdash;Business Overview.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>E.&nbsp;&nbsp;Off-Balance
Sheet Arrangements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not have any off-balance sheet arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>F.&nbsp;&nbsp;Tabular
Disclosure of Contractual Obligations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth our contractual
obligations as of December 31, 2018, assuming the banks will not demand the repayment of the loans before maturity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Less than<BR> One Year</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">One to Three<BR> Years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three to<BR> Five Years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">More than<BR> Five years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="18" STYLE="font-weight: bold; text-align: center">(in thousands of U.S. Dollars)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Long term debt</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">23,934</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,513</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6,416</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">37,863</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest on long term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,646</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,143</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">392</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,182</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Lease payments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">142</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">142</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">851</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><I>G.&nbsp;&nbsp;Safe Harbor</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See the section entitled &ldquo;Cautionary
Note Regarding Forward-Looking Statements&rdquo; at the beginning of this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_009"></A><B>Item 6.&nbsp;&nbsp;Directors, Senior Management
and Employees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>A. Directors and Senior Management</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table sets forth information regarding our executive
officers and our directors. Our articles of incorporation provide for a board of directors serving staggered, three-year terms,
other than any members of our board of directors that may serve at the option of the holders of preferred shares, if any are issued
with relevant appointment powers. The term of our Class I directors expires at our annual general meeting of shareholders in 2020,
the term of our Class II directors expires at our annual general meeting of shareholders in 2021 and the term of our Class III
directors expires at our annual general meeting of shareholders in 2019. Officers are appointed from time to time by our board
of directors and hold office until a successor is appointed or their employment is terminated. The business address of each of
the directors and officers is c/o Globus Shipmanagement Corp., 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Athens, Greece.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 84; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">Name</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Position</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Age</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 20%; text-align: left">Georgios Feidakis</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 58%; text-align: left">Director, Chairman of the Board of Directors</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center">68</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ioannis Kazantzidis</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">68</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Jeffrey O. Parry</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">59</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Athanasios Feidakis</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Director, President, Chief Executive Officer, Chief Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">32</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Olga Lambrianidou</TD><TD>&nbsp;</TD>
    <TD>Secretary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">63</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Georgios (&ldquo;George&rdquo;) Feidakis,
</B>a Class III director, is our founder and principal shareholder and has served as our non-executive chairman of the board of
directors since inception. Mr. George Feidakis is also the major shareholder and Chairman of F.G. Europe S.A., a company Mr. George
Feidakis has been involved with since 1994 and has been listed on the Athens Stock Exchange since 1968, and acts as a director
and executive for several of its subsidiaries. FG Europe is active in four lines of business and distributes well-known brands
in Greece, the Balkans, Turkey, Italy and UK. FG Europe is also active in the air-conditioning and white/brown electric goods
market in Greece and ten other countries in Europe as well as in the production of renewal energy. Mr. George Feidakis is also
the director and chief executive officer of R.F. Energy S.A., a company that plans, develops and controls the operation of energy
projects, and acts as a director and executive for several of its subsidiaries. As of January 31, 2018, Mr. Feidakis was the majority
shareholder of Eolos Shipmanagement SA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Athanasios (&ldquo;Thanos&rdquo;) Feidakis
* </B>a Class I director was appointed to our board of directors in July 2013 to fill a vacancy in our board of directors. As
of December 28, 2015, Mr. Athanasios Feidakis was also appointed our President, CEO and CFO. From October 2011 through June 2013,
Mr. Athanasios Feidakis worked for our operations and chartering department as an operator. Prior to that and from September 2010
to May 2011, Mr. Athanasios Feidakis worked for ACM, a shipbroking firm, as an S&amp;P broker, and from October 2007 to April
2008, he worked for Clarksons, a shipbroking firm, as a chartering trainee on the dry cargo commodities chartering and on the
sale and purchase of vessels. From April 2011 to April 2016, Mr. Athanasios Feidakis was a director of F.G. Europe S.A., a company
controlled by his family, specializing in the distribution of well-known brands in Greece, the Balkans, Turkey, Italy and UK.
From December 2008 to December 2015, Mr. Athanasios Feidakis was the President of Cyberonica S.A., a family owned company specializing
in real estate development. Mr. Athanasios Feidakis holds a B.Sc. in Business Studies and a M.Sc. in Shipping Trade and Finance
from the Cass Business School (City University London) and an MBA from London School of Economics. In addition, Mr. Athanasios
Feidakis has professional qualifications in dry cargo chartering and operations from the Institute of Chartered Shipbrokers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Jeffrey O. Parry, </B>a Class II director,
has served as our director since July 2010. Mr. Parry is currently the president of Mystic Marine Advisors LLC, a Connecticut
based advisory firm specializing in turnaround and emerging shipping companies which he founded in 1998. Mr. Parry was chairman
of the board of directors of TBS Shipping Limited from April 2012 until March 2018. Mr. Parry has served as a non-executive director
of Valhalla Shipping Inc. since January 2016 and served as its executive chairman from April 2014 to December 2015. From July
2008 to October 2009, he was president and chief executive officer of Nasdaq-listed Aries Maritime Transport Limited. Mr. Parry
holds a B.A. from Brown University and an MBA from Columbia University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Ioannis Kazantzidis</B>, a Class I director,
was appointed to our board in November, 2016 to fill a vacancy in our board of directors. Mr. Kazantzidis has been the principal
of Porto Trans Shipping LLC, a shipping and logistics company based in the United Arab Emirates, since 2007. Between 1987 to 2007,
Mr. Kazantzidis was with HSBC Group, where he served in managerial positions participating in the development and implementation
of financial systems in multiple locations. Mr. Kazantzidis has since 2009 been a Director of Saeed Mohammed Heavy Equipment Trading
LLC, a general trading company, and a senior partner in Porto Trans Auto Services Company, both based in Jebel Ali, UAE. Mr. Kazantzidis
has served as the Chairman of Nazaki Corporation, a private investment company based in the British Virgin Islands, since 1988.
Mr. Kazantzidis has served, since 2015, as the Chairman of W.M.Mendis Hotel Pvt Ltd in the Republic of Sri Lanka. From 1989 to
2015, he was the Chairman of Fishermans Wharf Pvt Ltd, and a director of Dow Corning Lanka Pvt Ltd from 2000 to 2013 and Propasax
Pvt Ltd from 2010 to 2015.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Olga Lambrianidou</B>, our secretary, has
been a corporate consultant to the Company since November 2010, and was appointed as secretary to the Company in December 2012.
Prior to joining Globus, Ms. Lambrianidou was the Corporate Secretary and Investor Relations Officer of NewLead Holdings Ltd.,
formerly known as Aries Maritime Limited from 2008 to 2010, and of DryShips Inc., a dry bulk publicly trading shipping company
from 2006 to 2008. Ms. Lambrianidou was Corporate Secretary, Investor Relations Officer and Human Resources Manager with OSG Ship
Management (GR) Ltd., formerly known as Stelmar Shipping Ltd. from 2000 to 2006. Prior to 2000, Ms. Lambrianidou worked in the
banking and insurance fields in the United States. She holds a BBA Degree in Marketing/English Literature from Pace University
and an MBA Degree in Banking/Finance from the Lubin School of Business of Pace University in New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 85; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Athanasios Feidakis is the son of our Chairman,
George Feidakis. Other than the aforementioned, there are no other family relationships between any of our directors or senior
management. There are no arrangements or understandings with major shareholders, customers, suppliers or others, pursuant to which
any person referred to above was selected as a director or member of senior management. See, however, some of the covenants of
our loan facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is not aware of any agreements
or arrangements between any director and any person or entity other than the Company relating to the Compensation or other payments
in connection with such director&rsquo;s candidacy or service as a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>B.&nbsp;&nbsp;Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aggregate compensation paid to members
of our senior management or a consulting company for which an executive officer is an owner was approximately $0.1 million for
2018, $0.2 million for 2017 and $0.1 million for 2016. In addition, our senior management received no shares in 2018, 2017 and
2016. Information about dividends paid to our shareholders, including to holders of Series A Preferred Shares, is contained in
&ldquo;Item 8.&nbsp;&nbsp;Financial Information - A. Consolidated Statements and Other Financial Information - Our Dividends Policy
and Restrictions on Dividends.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 18, 2016, the Company entered into
a consultancy agreement with an affiliated company of our CEO, Mr. Athanasios Feidakis, for the purpose of providing consulting
services to the Company in connection with the Company&rsquo;s international shipping and capital raising activities, including
but not limited to assisting and advising the Company&rsquo;s CEO. The annual fees for the services provided amount to Euro 200,000.
The consultant shall be eligible to receive bonus compensation (whether in the form of cash and/or equity and/or quasi-equity
awards) for the services provided and such bonus shall be determined by the Remuneration Committee or the Board of the Company.
In 2018, the aggregate remuneration for all executive officers amounted to approximately $235,000, in 2017 to approximately $229,000
and in 2016 to approximately $97,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aggregate compensation other than share
based compensation paid to our non-executive directors in 2018 was $70,000, in 2017 was approximately $352,000 and for 2016 was
nil. In addition, in 2018, 2017 and 2016, non-executive directors received an aggregate of 8,797 common shares, 2,094 common shares
and 4,790 common shares, respectively. As of December 31, 2018 we had not yet paid our non-executive directors the cash amounts
that we agreed to pay them for their prior service; such amount in the aggregate is approximately $201,250 ($115,000 for 2018,
$16,250 for 2017 and $30,000 for 2016 and $40,000 for 2015). In 2019 to date, we have not paid this outstanding amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Greek employees are bound by Greek labor
law, which provides certain payments to these employees upon their dismissal or retirement. We accrued as of December 31, 2018
a non-current liability of $86,874 for such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not have a retirement plan for our officers
or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>C.&nbsp;&nbsp;Board
Practices</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board of directors and executive officers
oversee and supervise our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each director holds office until his successor
is elected or appointed, unless his office is earlier vacated in accordance with the articles of incorporation or with the provisions
of the BCA. In addition to cash compensation, we pay each of Mr. Kazantzidis and Mr. Parry $20,000 in common shares annually.
The members of our senior management are appointed to serve at the discretion of our board of directors. Our board of directors
and committees of our board of directors schedule regular meetings over the course of the year. Under the Nasdaq rules, we believe
that Mr. Ioannis Kazantzidis and Mr. Parry are independent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have an Audit Committee, a Remuneration
Committee and a Nomination Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Audit Committee is comprised of Ioannis
Kazantzidis and Jeffrey O. Parry. It is responsible for ensuring that our financial performance is properly reported on and monitored,
for reviewing internal control systems and the auditors&rsquo; reports relating to our accounts and for reviewing and approving
all related party transactions. Our board of directors has determined that Ioannis Kazantzidis is our audit committee financial
expert. Each Audit Committee member has experience in reading and understanding financial statements, including statements of
financial position, statements of comprehensive income and statements of cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 86; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Remuneration Committee is comprised of
Jeffrey O. Parry, Athanasios Feidakis, and Ioannis Kazantzidis. It is responsible for determining, subject to approval from our
board of directors, the remuneration guidelines to apply to our executive officers, secretary and other members of the executive
management as our board of directors designates the Remuneration Committee to consider. It is also responsible for suggesting
the total individual remuneration packages of each director including, where appropriate, bonuses, incentive payments and share
options. The Remuneration Committee is responsible for declaring dividends on our Series A Preferred Shares, if any. The Remuneration
Committee will also liaise with the Nomination Committee to ensure that the remuneration of newly appointed executives falls within
our overall remuneration policies. While Athanasios Feidakis is not an independent director, we believe that, as our Chief Executive
Officer, he has a substantial vested interest in our success and his particular input will significantly aid and assist us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Nomination Committee is comprised of George
Feidakis, Ioannis Kazantzidis and Jeffrey O. Parry. It is responsible for reviewing the structure, size and composition of our
board of directors and identifying and nominating candidates to fill board positions as necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For information about the term of each director,
see &ldquo;Item 6. Directors, Senior Management and Employees - A. Directors and Senior Management&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>D.&nbsp;&nbsp;Employees</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, we had thirteen full-time
employees and one consultant that we hired directly. All of our employees are located in Greece and are engaged in the service
and management of our fleet. None of our employees are covered by collective bargaining agreements, although certain crew members
are parties to collective bargaining agreements. We do not employ a significant number of temporary employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>E.&nbsp;&nbsp;Share
Ownership</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With respect to the total number of common
shares owned by all of our officers and directors, individually and as a group, please read &ldquo;Item 7.&nbsp;Major Shareholders
and Related Party Transactions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Incentives program </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We maintain an equity incentive program, because
we believe that equity awards are important to align our employees&rsquo; interests with those of our shareholders. Our equity
incentive program is administered by our Remuneration Committee or, in certain circumstances, our board of directors. The Remuneration
Committee generally measures our performance in terms of total shareholder return, which is calculated based on changes in our
share price and our dividends paid over a calendar year, which we refer to as TSR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board of directors believe that these
awards keep our employees focused on our growth, as well as dividend growth and its impact on our share price, over an extended
time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2012 Equity Incentive Plan of Globus Maritime
Limited, or the &ldquo;EIP,&rdquo; provides for the award of stock options, stock appreciation rights, restricted stock, restricted
stock units and unrestricted stock, for directors, officers and employees (including any prospective officer or employee) of our
Company and our subsidiaries and affiliates and consultants and service providers (including individuals who are employed by or
provide services to any entity that is itself such a consultant or service provider) to our Company and our subsidiaries and affiliates,
with the goal of providing such persons the incentive to enter into and remain in the service of the Company or its affiliates,
acquire a proprietary interest in the success of the Company,&nbsp;maximize their performance and&nbsp;enhance the long-term performance
of the Company. The EIP was amended August 12, 2016 to clarify that the full board of directors may act as plan administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Administration</I></B>. The EIP is administered
by the Remuneration Committee of our board of directors, or such other committee of the board of directors designated by the board
of directors (which could be the full board of directors itself). We refer to the body administering the EIP as the &ldquo;Administrator.&rdquo;
The EIP allows the Administrator to delegate its rights to the extent consistent with applicable law and our organizational documents.
The Administrator has the authority to, among other things, designate the persons to receive awards under the EIP; determine the
types of awards granted to a participant under the EIP; determine the number of shares to be covered by, or with respect to which
payments, rights or other matters are to be calculated with respect to, awards; determine the terms and conditions of any awards;
determine whether, and to what extent, and under what circumstances, awards may be settled or exercised in cash, shares, other
securities, other awards or other property, or cancelled, forfeited or suspended, and the methods by which awards may be settled,
exercised, cancelled, forfeited or suspended; determine whether, to what extent, and under what circumstances cash, shares, other
securities, other awards, other property and other amounts payable with respect to an award shall be deferred, either automatically
or at the election of the holder thereof or the Administrator; construe, interpret and implement the EIP and any Award Agreement;
prescribe, amend, rescind or waive rules and regulations relating to the EIP, including rules governing its operation, and appoint
such agents as it shall deem appropriate for the proper administration of the EIP; make all determinations necessary or advisable
in administering the EIP; correct any defect, supply any omission and reconcile any inconsistency in the EIP or any Award Agreement;
and make any other determination and take any other action that the Administrator deems necessary or desirable for the administration
of the EIP. The board of directors has the right to alter or amend the EIP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 87; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Number of Shares</I></B>. Subject to
adjustment in the event of any distribution, recapitalization, split, merger, consolidation or similar corporate event, 100,000
of our common shares are available for delivery pursuant to awards granted under the EIP. Awards may not be paid in cash. Shares
subject to an award under the EIP that are cancelled, forfeited, exchanged, settled in cash or otherwise terminated, including
withheld to satisfy exercise prices or tax withholding obligations, are available for delivery pursuant to other awards. Shares
issued pursuant to the EIP may be authorized but unissued common shares or treasury shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Award Agreements</I></B>. Each award
granted under the EIP shall be evidenced by a written certificate, which we refer to as an Award Agreement, which shall contain
such provisions as the Administrator may deem necessary or desirable and which may, but need not, require execution or acknowledgment
by a grantee. Each Award shall be subject to all of the terms and provisions of the EIP and the applicable Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Stock Options</I></B>. A stock option
is a right to purchase shares at a specified price during a specified time period. The EIP permits the grant of options covering
our common shares. The Administrator may make grants under the EIP to participants containing such terms as the Administrator
shall determine. No option shall be treated as an &ldquo;incentive stock option&rdquo; for purposes of the Code. Stock options
granted will become exercisable over a period determined by the Administrator. Each Award Agreement with respect to an option
shall set forth the exercise price of such Award and, unless otherwise specifically provided in the Award Agreement, the exercise
price of an option shall equal the fair market value of a common share on the date of grant; provided that in no event may such
exercise price be less than the greater of the fair market value of a common share on the date of grant and the par value of a
common share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Restricted Shares</I></B>. A restricted
share grant is an award of common shares that vests over a period of time and is subject to forfeiture until it has vested. The
Administrator may determine to make grants of restricted shares under the EIP to participants containing such terms as the Administrator
shall determine. The Administrator will determine the period over which restricted shares granted to participants will vest and
the voting provisions. The Administrator, in its discretion, may base its determination upon the achievement of specified financial
objectives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Stock Appreciation Rights</I></B>. A
stock appreciation right is the right, subject to the terms of the EIP and the applicable Award Agreement, to receive from the
Company an amount equal to (i) the excess of the fair market value of a common share on the date of exercise of the stock appreciation
right over the exercise price of the stock appreciation right, multiplied by (ii) the number of shares with respect to which the
stock appreciation right is exercised. Each Award Agreement with respect to a stock appreciation right shall set forth the exercise
price of such Award and, unless otherwise specifically provided in the Award Agreement, the exercise price of a stock appreciation
right shall equal the fair market value of a common share on the date of grant; provided that in no event may such exercise price
be less than the greater of (A) the fair market value of a common share on the date of grant and (B) the par value of a common
share. Payment upon exercise of a stock appreciation right shall be in cash or in common shares (valued at their fair market value
on the date of exercise of the stock appreciation right) or any combination of both, all as the Administrator shall determine.
Upon the exercise of a stock appreciation right granted in connection with an option, the number of shares subject to the option
shall be reduced by the number of shares with respect to which the stock appreciation right is exercised. Upon the exercise of
an option in connection with which a stock appreciation right has been granted, the number of shares subject to the stock appreciation
right shall be reduced by the number of shares with respect to which the option is exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Restricted Stock Unit</I></B>. A restricted
stock unit is a notional share that entitles the grantee to receive a common share upon the vesting of the restricted stock unit
or, in the discretion of the Administrator, cash equivalent to the value of a common share. The Administrator may determine to
make grants of restricted stock units under the EIP to participants containing such terms as the Administrator shall determine.
The Administrator will determine the period over which restricted stock units granted to participants will vest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 88; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Unrestricted Stock</I></B>. The Administrator
may grant (or sell at a purchase price at least equal to par value) common shares free of restrictions under the EIP to available
participants and in such amounts and subject to such forfeiture provisions as the Administrator shall determine. Common shares
may be thus granted or sold in respect of past services or other valid consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Tax Withholding</I></B>. At our discretion,
and subject to conditions that the Administrator may impose, a participant may elect that his minimum statutory tax withholding
with respect to an award may be satisfied by withholding from any payment related to an award or by the withholding of shares
issuable pursuant to the award based on the fair market value of the shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Award Adjustments</I></B>. If the Administrator
determines that any dividend or other distribution (whether in the form of cash, Company shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase
or exchange of Company shares or other securities of the Company, issuance of warrants or other rights to purchase Company shares
or other securities of the Company, or other similar corporate transaction or event affects the Company shares such that an adjustment
is determined by the Administrator to be appropriate or desirable, then the Administrator shall, in such manner as it may deem
equitable or desirable, adjust any or all of the number of shares or other securities of the Company (or number and kind of other
securities or property) with respect to which Awards may be granted under the EIP. The Administrator is authorized to make adjustments
in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including
the events described above in the first sentence of this paragraph, the occurrence of a Change in Control (as defined in the EIP)
affecting the Company, any affiliate, or the financial statements of the Company or any affiliate, or of changes in applicable
rules, rulings, regulations or other requirements of any governmental body or securities exchange, accounting principles or law,
whenever the Administrator determines that such adjustments are appropriate or desirable, including providing for adjustment to
(1)&nbsp;the number of shares or other securities of the Company (or number and kind of other securities or property) subject
to outstanding Awards or to which outstanding Awards relate and (2)&nbsp;the exercise price with respect to any Award and a substitution
or assumption of Awards, accelerating the exercisability or vesting of, or lapse of restrictions on, Awards, or accelerating the
termination of Awards by providing for a period of time for exercise prior to the occurrence of such event, or, if deemed appropriate
or desirable, providing for a cash payment to the holder of an outstanding Award in consideration for the cancellation of such
Award (it being understood that, in such event, any option or stock appreciation right having a per share exercise price equal
to, or in excess of, the fair market value of a share subject to such option or stock appreciation right may be cancelled and
terminated without any payment or consideration therefor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Change in Control</I></B>. Upon a &ldquo;change
of control&rdquo; (as defined in the EIP), and unless the Administrator decides otherwise:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Any
                                         Award then outstanding shall become fully vested and any restriction and forfeiture provisions
                                         thereon imposed pursuant to the EIP and the Award Agreement shall lapse and any Award
                                         in the form of an option or stock appreciation right shall be immediately exercisable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 38.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">To
                                         the extent permitted by law and not otherwise limited by the terms of the EIP, the Administrator
                                         may amend any Award Agreement in such manner as it deems appropriate.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">An
                                         award recipient who is terminated or dismissed from their position for any reason other
                                         than &ldquo;for cause&rdquo; within one year of the change in control may, for a limited
                                         time, exercise any outstanding option or stock appreciation right, but only to the extent
                                         that the grantee was entitled to exercise the Award on the date of his or her termination
                                         of employment or consultancy/service relationship or dismissal from the board of directors.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Termination of Employment or Service</I></B>.
The consequences of the termination of a grantee&rsquo;s employment, consulting arrangement, or membership on the board of directors
will be determined by the Administrator in the terms of the relevant Award Agreement. Generally, the Administrator may modify
these consequences. The Administrator can impose any forfeiture or vesting provisions in any Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>2018, 2017, 2016 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No awards were granted pursuant to the equity
incentive plan during the years ended December 31, 2018, 2017 and 2016, but we issued shares directly to our directors, which
was not part of the equity incentive program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 89; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I> &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_010"></A><B>Item 7.&nbsp;&nbsp;Major
Shareholders and Related Party Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>A.&nbsp;&nbsp;Major
Shareholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth information
concerning ownership of our common shares as of March 28, 2019 by persons who beneficially own more than 5.0% of our outstanding
common shares, each person who is a director of our company, each executive officer named in this annual report on Form 20-F and
all directors and executive officers as a group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Beneficial ownership of shares is determined
under rules of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and generally includes any shares over which a person
exercises sole or shared voting or investment power. Except as indicated in the footnotes to this table and subject to community
property laws where applicable, the persons named in the table have sole voting and investment power with respect to all shares
shown as beneficially owned by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The numbers of shares and percentages of beneficial
ownership are based on 3,211,107 common shares outstanding on March 28, 2019. All common shares owned by the shareholders listed
in the table below have the same voting rights as the other of our outstanding common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The address for those individuals for which
an address is not otherwise indicated is: c/o Globus Shipmanagement Corp., 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada,
Athens, Greece.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Name and address of beneficial owner</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of common<BR>
    shares beneficially<BR> owned as of March<BR> 28, 2019</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage of common<BR>
    shares beneficially<BR> owned as of March 28,<BR> 2019</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">5% Beneficial Owners</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">United Capital Investments Corp. (1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,394,210</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.3</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left">%(2)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Officers and Directors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">George Feidakis (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,420,163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.2</TD><TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ioannis Kazantzidis</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,313</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Jeffrey O. Parry</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Athanasios Feidakis</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,886</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">All executive officers and directors as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">45.0</TD><TD NOWRAP STYLE="font-weight: bold; text-align: left">%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>*Less than 1.0% of the outstanding shares.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>(1) As of February 14,
2019, United Capital Investments Corp., a Liberian corporation, beneficially owns (a) 144,210 common shares, and (b) is attributed
with owning 1,250,000 common shares which are issuable upon the exercise of a warrant acquired in the October 2017 SPA. To the
Company&rsquo;s knowledge, United Capital Investments Corp. did not own any shares in the three years prior to the October 2017.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>(2) This figure assumes
the full exercise of the warrant that United Capital Investments Corp. is beneficially deemed to own, and no conversion of the
convertible note or Firment Shipping Credit Facility. United Capital Investments Corp.&rsquo;s warrant contain a blocker provision
which prohibits its exercise to the extent such exercise would cause United Capital Investments Corp., together with its affiliates
and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased, but not
to exceed 9.99%) of our then outstanding common shares following such exercise, excluding for purposes of such determination common
shares issuable upon exercise of the warrants which have not been exercised. In making the calculations above, we have assumed
that this &ldquo;Blocker Provision&rdquo; did not exist.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(3) Mr. George Feidakis beneficially owns
1,420,163 common shares through Firment Shipping Inc., a Marshall Islands corporation for which he exercises sole voting and investment
power. Mr. George Feidakis and Firment Shipping Inc., disclaim beneficial ownership over such common shares except to the extent
of their pecuniary interests in such shares. Firment Shipping Inc. is the lender of the Firment Shipping Credit Facility, which
facility provides that debt may be repaid by the Company using the Company&rsquo;s common shares at the Company&rsquo;s election.
As the conversion would occur at the Company&rsquo;s election, and by no act of Mr. Feidakis, these figures do not include shares
issuable upon such conversion. This figure assumes no conversion of the convertible note or the warrant that United Capital Investments
Corp. is beneficially deemed to own.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 90; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When we filed our annual report for the years
ended 2017 and 2018, Mr. George Feidakis beneficially owned 58.7% and 44.3% of our common shares, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To the best of our knowledge, except as disclosed
in the table above, we are not owned or controlled, directly or indirectly, by another corporation or by any foreign government.
To the best of our knowledge, there are no agreements in place that could result in a change of control of us, other than the
warrants described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the normal course of business, there have
been institutional investors that buy and sell our shares. It is possible that significant changes in the percentage ownership
of these investors will occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>B.&nbsp;&nbsp;Related
Party Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the 2018, 2017 and 2016 fiscal years,
we incurred rents of $147,000, $140,000 and $138,000, respectively, to Cyberonica S.A., a company owned by Mr. George Feidakis,
for the rental of 350 square meters of office space for our operations. As of December 31, 2018, we owed $427,000 in back rent
to Cyberonica S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Employment of Relative of Mr. George Feidakis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 1, 2013, Mr. Athanasios Feidakis
became a non-executive director of the Company and such employment agreement was terminated. Mr. Athanasios Feidakis was appointed
as President, Chief Executive Officer and Chief Financial Officer as of December 28, 2015, and remains in these positions. He
is the son of our chairman of the board of directors and largest beneficial shareholder, Mr. George Feidakis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>February 2017 Private
Placement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 8, 2017, we entered into a Share
and Warrant Purchase Agreement pursuant to which we sold for $5 million an aggregate of 500,000 of our common shares and warrants
(which expired in February 2019) to purchase 2.5 million of our common shares at a price of $16 per share (subject to adjustment)
to four investors in a private placement. These securities were issued in transactions exempt from registration under the Securities
Act. The following day, we entered into a registration rights agreement with the Purchasers providing them with certain rights
relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants. One of the investors
was the sister of our CEO and daughter of our chairman. (These figures reflect the 10-1 reverse stock split which occurred in
October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Firment Credit Facility </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2013, Globus Maritime Limited
entered into a credit facility for up to $4.0 million with Firment Trading Limited, a Cypriot corporation and related party to
us, for the purpose of financing our general working capital needs. The Firment Credit Facility was unsecured and remained available
until it terminated on April 29, 2016. During December 2014 the credit limit of the facility increased from $4.0 million to $8.0
million and its final maturity date was extended from December 12, 2015 to April 29, 2016. During December 2015 the credit limit
of the facility increased from $8.0 to $20.0 million and its final maturity date was extended to April 12, 2017. In December 2015,
the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall
Islands corporation, each of which is a related party to us. We had the right to drawdown any amount up to $20.0 million or prepay
any amount, during the availability period in multiples of $100,000. Any prepaid amount could have been re-borrowed in accordance
with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee is
charged on the amounts remaining available and undrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2016, the amount drawn
and outstanding with respect to the facility was $17.4 million. As of December 31, 2016, there was an amount of $2.6 million available
to be drawn under the Firment Credit Facility. As of December 31, 2016 we were in compliance with the loan covenants of the Firment
Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the February 2017 private
placement, on February 8, 2017 Firment released an amount equal to $16,885,000 (but left an amount equal to $1,638,787 outstanding,
which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the
Company issued to Firment Shipping Inc., an affiliate of Firment, 16,885,000 common shares and a warrant to purchase 6,230,580
common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing of the February 2017 private placement,
Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. (These figures do not reflect the 10-1 reverse
stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 91; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Silaner Credit Facility </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2016, Globus Maritime Limited entered
into a credit facility for up to $3.0 million with Silaner Investments Limited, a related party to us, for the purpose of financing
our general working capital needs. The Silaner Credit Facility was unsecured and remained available until it terminated on January
12, 2018. We had the right to drawdown any amount up to $3.0 million or prepay any amount in multiples of $100,000. Any prepaid
amount could have been be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts
is charged at 5% per annum and no commitment fee was charged on the amounts remaining available and undrawn. As of December 31,
2016, the amount drawn and outstanding with respect to the facility was $3.1 million, which amount has been approved by our board.
As of December 31, 2017 and 2016 we were in compliance with the loan covenants of the Silaner Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the February 2017 private
placement, on February 8, 2017 Silaner released an amount equal to the outstanding principal of $3,115,000 (but left an amount
equal to $74,048 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the
Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner, 3,115,000 common shares and
a warrant to purchase 1,149,437 common shares at a price of $1.60 per share (subject to adjustment). Subsequent to the closing
of the February 2017 private placement, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. (These
figures do not reflect the 10-1 reverse stock split which occurred in October 2018.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Firment Shipping Credit Facility</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2018, we entered into a credit
facility for up to $15 million with Firment Shipping Inc., a related party to us, for the purpose of financing our general working
capital needs. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity on November 19,
2020. We have the right to drawdown any amount up to $15 million or prepay any amount in multiples of $100,000. Any prepaid amount
can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per
annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable the last day of a
period of three months after the Drawdown Date, after this period in case of failure to pay any sum due a default interest of
2% per annum above the regular interest is charged. We have also the right, in our sole option, to convert in whole or in part
the outstanding unpaid principal amount and accrued but unpaid interest under this Agreement into Common stock. The Conversion
price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the Common Stock on
the Principal Market on any Trading Day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. over
the Pricing Period multiplied by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive Trading Days immediately
preceding the date on which the Conversion Notice was executed or (ii) $2.80.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, the amount drawn
and outstanding with respect to the facility was $2.2 million and there was an amount of $12.8 million available to be drawn under
the Firment Shipping Credit Facility. As of December 31, 2018 we were in compliance with the loan covenants of the Firment Shipping
Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Business Opportunities Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2010, Mr. George Feidakis entered
into a business opportunities arrangement with us. Under this agreement, Mr. George Feidakis is required to disclose to us any
business opportunities relating to dry bulk shipping that may arise during his service to us as a member of our board of directors
that could reasonably be expected to be a business opportunity that we may pursue. Mr. George Feidakis agreed to disclose all
such opportunities, and the material facts attendant thereto, to our board of directors for our consideration and if our board
of directors fails to adopt a resolution regarding an opportunity within seven business days of disclosure, we will be deemed
to have declined to pursue the opportunity, in which event Mr. George Feidakis will be free to pursue it. Mr. George Feidakis
is also prohibited for six months after the termination of the agreement to solicit any of our or our subsidiaries&rsquo; senior
employees or officers. Mr. George Feidakis&rsquo; obligations under the business opportunities agreement will also terminate when
he no longer beneficially owns our shares representing at least 30% of the combined voting power of all our outstanding shares
or any other equity, or no longer serves as our director. Mr. George Feidakis remains free to conduct his other businesses that
are not related to dry bulk shipping.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 92; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Registration Rights Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2016, we entered into a registration
rights agreement with Firment Trading Limited, pursuant to which we granted to them and their affiliates (including Mr. George
Feidakis and certain of their transferees), the right, under certain circumstances and subject to certain restrictions to require
us to register under the Securities Act our common shares held by them. Under the registration rights agreement, these persons
have the right to request us to register the sale of shares held by them on their behalf and may require us to make available
shelf registration statements permitting sales of shares into the market from time to time over an extended period. In addition,
these persons have the ability to exercise certain piggyback registration rights in connection with registered offerings requested
by shareholders or initiated by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Consulting Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 18, 2016, the Company entered into
a consultancy agreement with an affiliated company of our CEO, Mr. Athanasios Feidakis, for the purpose of providing consulting
services to the Company in connection with the Company&rsquo;s international shipping and capital raising activities, including
but not limited to assisting and advising the Company&rsquo;s CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2016, our Manager, entered into a
consultancy agreement with Eolos Shipmanagement S.A., a related party, for the purpose of providing consultancy services to Eolos
Shipmanagement S.A. For these services our Manager receives a daily fee of $1,000. This agreement terminated on January 31, 2017.
For 2017 and 2016 the total income from these fees amounted to $31,000 and $187,000, respectively, and is classified in the income
statement component of the consolidated statement of comprehensive (loss)/income under management &amp; consulting fee income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>C.&nbsp;&nbsp;Interests of
Experts and Counsel</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_011"></A><B>Item 8.&nbsp;&nbsp;Financial
Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>A. Consolidated Statements
and Other Financial Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See Item 18.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not been involved in any legal proceedings
which may have, or have had, a significant effect on our business, financial position, results of operations or liquidity, nor
are we aware of any other proceedings that are pending or threatened which may have a significant effect on our business, financial
position, results of operations or liquidity. From time to time, we may be subject to legal proceedings and claims in the ordinary
course of business, principally personal injury and property casualty claims. We expect that these claims would be covered by
insurance, subject to customary deductibles. Those claims, even if lacking merit, could result in the expenditure of significant
financial and managerial resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our Dividend Policy and Restrictions on
Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our dividend policy is to pay to holders of
our shares a variable quarterly dividend in excess of 50% of the net income of the previous quarter subject to any reserves our
board of directors may from time to time determine are required. We believe this policy maintains an appropriate level of dividend
cover taking into account the likely effects of the shipping cycle and the need to retain cash to reinvest in vessel acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In calculating our dividend to holders of
our shares, we exclude any gain on the sale of vessels and any unrealized gains or losses on derivatives. Our board of directors,
in its discretion, can determine in the future whether any capital surpluses arising from vessel sales are included in the calculation
of a dividend. Dividends will be paid in U.S. dollars equally on a per-share basis between our common shares and our Class B shares,
to the extent any are issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Remuneration Committee will also determine
by unanimous resolution, in its sole discretion, when and to the extent dividends are paid to the holders of our Series A Preferred
Shares, to the extent any are outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a holding company, with no material
assets other than the shares of our subsidiaries. Therefore, our ability to pay dividends depends on the earnings and cash flow
of those subsidiaries and their ability to pay dividends to us. Additionally, the declaration and payment of any dividend is subject
at all times to the discretion of our board of directors and will depend on, among other things, our earnings, financial condition
and anticipated cash requirements and availability, additional acquisitions of vessels, restrictions in our debt arrangements,
the provisions of Marshall Islands law affecting the payment of dividends to shareholders, required capital and drydocking expenditures,
reserves established by our board of directors, increased or unanticipated expenses, a change in our dividend policy, additional
borrowings and future issuances of securities, many of which are beyond our control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 93; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Marshall Islands law generally prohibits the
payment of dividends other than from surplus (retained earnings and the excess of consideration received from the sale of shares
above the par value of the shares) or while a corporation is insolvent or would be rendered insolvent by the payment of such dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We historically paid dividends to our common
shareholders in amounts ranging from $0.03 per share to $0.50 per share. Historical dividend payments should not provide any promise
or indication of future dividend payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No dividends were declared or paid on our
common shares during the years ended December 31, 2018, 2017 and 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No dividends were declared on our Series A
Preferred Shares during the year ended December 31, 2016. The Series A Preferred Shares were redeemed in 2016 and no Series A
Preferred Shares are outstanding as of December 31, 2016, 2017 and 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our loan agreements impose certain restrictions
to us with respect to dividend payments to our common shareholders and on the holders of Series A Preferred shares. Please see
&ldquo;Item 5.B. Liquidity and Capital Resources&mdash;Indebtedness.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Because we breached covenants within the Hamburg
Commercial Loan Agreement, which Event of Default is itself a default under the cross-default provision of the Macquarie Loan
Agreement, we are restricted from making dividends so long as any amount that was payable in 2017 and deferred as remains outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>B.&nbsp;&nbsp;Significant
Changes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 13, 2019, the Company signed a securities
purchase agreement with a private investor and on March 13, 2019 issued, for gross proceeds of $5 million, a senior convertible
note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par value $0.004
per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures
upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). On March 21, 2019, we entered into an amendment to the securities
purchase agreement. As of the date hereof, no conversion of the Convertible Note has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Convertible Note provides for interest
to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&rsquo;s issuance unless
the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares of the
Company, if certain conditions described within the Convertible Note are met. The following summaries of the conversion and redemption
provisions of the Convertible Note are qualified in their entirety to the terms of the Convertible Note itself, which is attached
as Exhibit 10.3 to a Report on Form 6-K published by the Company today:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be converted, in whole or in part, into the Company&rsquo;s common
                                         stock at any time by its holder, in which case all principal, interest, and other amounts
                                         owed pursuant to the Convertible Note shall convert at a price per share which differs
                                         based upon the performance of the Company&rsquo;s stock price. The price per share for
                                         conversion purposes shall be $4.50 (the &ldquo;Conversion Price&rdquo;); but if after
                                         June 7, 2019, the Company&rsquo;s common stock trades below the Conversion Price, the
                                         price per share for conversion purposes shall be the lowest of (a) the Conversion Price
                                         and (b) the highest of (i) $2.25 (the &ldquo;Floor Price&rdquo;) and (ii) 87.5% of the
                                         average of the high and low bid price from any day chosen by the holder during the ten
                                         (10) consecutive trading day period ending on and including the trading day immediately
                                         prior to the applicable conversion date (the &ldquo;Alternate Conversion Price&rdquo;)
                                         regardless of the subsequent stock price.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be redeemed, in whole or in part, by request of its holder upon:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(a)
                                         an Event of Default (as defined within the Convertible Note), in exchange for the higher
                                         of (a) 120% of all amounts owed under the Convertible Note, and (b) the value of the
                                         stock to which the Convertible Note could be converted (as calculated within Section
                                         4(b) of the Convertible Note);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 94; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(b)
                                         a Change in Control (as defined within the Convertible Note) of the Company, in exchange
                                         for the higher of (a) 120% of all amounts owed under the Convertible Note and (b) the
                                         value of the stock to which the Convertible Note could be converted (as calculated within
                                         Section 5(c) of the Convertible Note); or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">(c)
                                         a ten Trading Day period in which the common shares trade below 120% of the Floor Price,
                                         in exchange for 100% of all amounts owed under the Convertible Note.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         Convertible Note may be redeemed, in whole or in part, at any time by the Company. If
                                         the Company elects to redeem the Convertible Note, the Company shall immediately be obligated
                                         to pay the holder the greater of (a) 120% of all amounts owed under the Convertible Note
                                         and (b) the value of the stock to which the Convertible Note could be converted (as calculated
                                         within Section 8(a) of the Convertible Note). If the Company elects to redeem the Convertible
                                         Note, the Company (as a procedural matter) must first provide the holder notice, which
                                         could allow the holder to convert prior to payment by the Company of the redemption amount.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">If
                                         any portion of the Convertible Note is not redeemed or converted prior to its maturity
                                         date, on the maturity date, the Company shall pay all outstanding principal in cash and
                                         may elect whether to pay the interest (and any other amounts owed) in cash or shares
                                         of the Company&rsquo;s common stock. If interest is paid in common stock, the Alternate
                                         Conversion Price per share shall apply.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Convertible Note includes anti-dilution
protections to its holder, which could cause the Conversion Price and Floor Price to be adjusted (upwards or downwards) proportionately
upon a stock split. The Convertible Note further allows the Company, with the holder&rsquo;s consent, to reduce the Floor Price
or the then current conversion price, as to any amount and for any period of time deemed appropriate by the Company&rsquo;s board
of directors, but to a price no less than $1.00 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the Convertible Note, the
Company may not issue shares to the extent such issuance would cause the Holder, together with its affiliates and attribution
parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&rsquo;
notice, but not to exceed 9.99%) of our then outstanding common shares immediately following such issuance, excluding for purposes
of such determination common shares issuable upon subsequent conversion of principal or interest on the Convertible Note. This
provision does not limit a Holder from acquiring up to 4.99% of our common shares, selling all of their common shares, and re-acquiring
up to 4.99% of our common shares. The Convertible Note further entitles its holder to any options, convertible securities or rights
to purchase shares, warrants, securities or other property if the Company should issue such pro rata to all or substantially all
of the record holders of any class of common shares, in each instance as though the Convertible Note had converted in full at
the Alternate Conversion Price and as though the aforementioned limitation on conversion and issuance did not exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also signed a registration rights
agreement with the private investor pursuant to which we agreed to register for resale the shares that could be issued pursuant
to the convertible note. The registration rights agreement contains liquidated damages if we are unable to register for resale
the shares into which the convertible note may convert, and maintain such registration.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In February 2019, all warrants originally issued in February 2017
expired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_012"></A><B>Item 9.&nbsp;&nbsp;The
Offer and Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our common shares trade on the Nasdaq Capital
Market under the ticker &ldquo;GLBS.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation do not permit
the issuance of bearer shares.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_013"></A><B>Item 10.&nbsp;&nbsp;Additional
Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>A. Share Capital</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 95; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>B. Memorandum and Articles
of Association</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Purpose</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our objects and purposes, as provided in Section
1.3 of our articles of incorporation, are to engage in any lawful act or activity for which corporations may now or hereafter
be organized under the BCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Common Shares and Class B Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Generally, Marshall Islands law provides that
the holders of a class of stock of a Marshall Islands corporation are entitled to a separate class vote on any proposed amendment
to the relevant articles of incorporation that would change the aggregate number of authorized shares or the par value of that
class of shares or alter or change the powers, preferences or special rights of that class so as to affect them adversely. Except
as described below, holders of our common shares and Class B shares will have equivalent economic rights, but holders of our common
shares will be entitled to one vote per share and holders of our Class B shares will be entitled to 20 votes per share. Each holder
of Class B shares (not including the Company and the Company&rsquo;s subsidiaries) may convert, at its option, any or all of the
Class B shares held by such holder into an equal number of common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise provided by the BCA, holders
of our common shares and Class B shares will vote together as a single class on all matters submitted to a vote of shareholders,
including the election of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The rights, preferences and privileges of
holders of our shares are subject to the rights of the holders of any preferred shares that have been issued and which we may
issue in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Holders of our common shares do not have conversion,
redemption or pre-emptive rights to subscribe to any of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no limitation on the right to own
securities or the rights of non-resident shareholders to hold or exercise voting rights on our securities under Marshall Islands
law or our articles of incorporation or bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Preferred Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation authorize our
board of directors to establish and issue up to 100 million preferred shares and to determine, with respect to any series of preferred
shares, the rights and preferences of that series, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         designation of the series;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         number of preferred shares in the series;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         preferences and relative participating option or other special rights, if any, and any
                                         qualifications, limitations or restrictions of such series; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         voting rights, if any, of the holders of the series (subject to terms set forth below
                                         with regard to the policy of our board of directors regarding preferred shares).</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2012 we issued an aggregate of 3,347
Series A Preferred Shares to our two executive officers, but as of December 31, 2016 and as of the date hereof no Series A Preferred
Shares were outstanding. The holders of our Series A Preferred Shares will be entitled to receive, if funds are legally available,
dividends payable in cash in an amount per share to be determined by unanimous resolution of our Remuneration Committee, in its
sole discretion. Our board of directors or Remuneration Committee will determine whether funds are legally available under the
BCA for such dividend. Any accrued but unpaid dividends will not bear interest. Except as may be provided in the BCA, holders
of our Series A Preferred Shares do not have any voting rights. Upon our liquidation, dissolution or winding up, the holders of
our Series A Preferred Shares will be entitled to a preference in the amount of the declared and unpaid dividends, if any, as
of the date of liquidation, dissolution or winding up. Our Series A Preferred Shares are not convertible into any of our other
capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series A Preferred Shares are redeemable
at the written request of the Remuneration Committee, at par value plus all declared and unpaid dividends as of the date of redemption
plus any additional consideration determined by a unanimous resolution of the Remuneration Committee. We redeemed and cancelled
780 Series A Preferred Shares in January 2013 and the remaining 2,567 were redeemed and cancelled in July 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 96; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Liquidation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event of our dissolution, liquidation
or winding up, whether voluntary or involuntary, after payment in full of the amounts, if any, required to be paid to our creditors
and the holders of preferred shares, our remaining assets and funds shall be distributed pro rata to the holders of our common
shares and Class B shares, and the holders of common shares and the holders of Class B shares shall be entitled to receive the
same amount per share in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Declaration and payment of any dividend is
subject to the discretion of our board of directors. The timing and amount of dividend payments to holders of our shares will
depend on a series of factors and risks described under &ldquo;Item 3.D.&nbsp;&nbsp;Risk Factors,&rdquo; and includes risks relating
to earnings, financial condition, cash requirements and availability, restrictions in our current and future loan arrangements,
the provisions of the Marshall Islands law affecting the payment of dividends and other factors. The BCA generally prohibits the
payment of dividends other than from surplus or while we are insolvent or if we would be rendered insolvent upon paying the dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to preferences that may apply to any
shares of preferred stock outstanding at the time, the holders of our common shares and Class B shares will be entitled to share
equally in any dividends that our board of directors may declare from time to time out of funds legally available for dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Conversion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our common shares are not convertible into
any other shares of our capital stock. Each of our Class B shares is convertible at any time at the election of the holder thereof
into one of our common shares on a one-for-one basis. We will not reissue or resell any Class B shares that shall have been converted
into common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our directors are elected by the vote of the
plurality of the votes cast by holders with voting power of our voting shares. Our articles of incorporation provide that our
board of directors must consist of at least three members. Shareholders may change the number of directors only by the affirmative
vote of holders of a majority of the total voting power of our outstanding capital stock (subject to the rights of any holders
of preferred shares). The board of directors may change the number of directors by a majority vote of the entire board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No contract or transaction between us and
one or more of our directors or officers will be void or voidable solely for the following reason, or solely because the director
or officer is present at or participates in the meeting of our board of directors or committee thereof which authorizes the contract
or transaction, or solely because his or her or their votes are counted for such purpose, if (1) the material facts as to such
director&rsquo;s interest in such contract or transaction and as to any such common directorship, officership or financial interest
are disclosed in good faith or known to the board of directors or committee, and the board of directors or committee approves
such contract or transaction by a vote sufficient for such purpose without counting the vote of such interested director, or,
if the votes of the disinterested directors are insufficient to constitute an act of the board, by unanimous vote of the disinterested
directors; or (2) the material facts as to such director&rsquo;s interest in such contract or transaction and as to any such common
directorship, officership or financial interest are disclosed in good faith or known to the shareholders entitled to vote thereon,
and such contract or transaction is approved by vote of such shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board of directors has the authority to
fix the compensation of directors for their services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Classified Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation provide for
a board of directors serving staggered, three-year terms. Approximately one-third of our board of directors will be elected each
year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 97; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Removal of Directors; Vacancies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation provide that
directors may be removed with or without cause upon the affirmative vote of holders of a majority of the total voting power of
our outstanding capital stock. Our bylaws require parties to provide advance written notice of nominations for the election of
directors other than the board of directors and shareholders holding 30% or more of the voting power of the aggregate number of
our shares issued and outstanding and entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>No Cumulative Voting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation prohibit cumulative
voting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Shareholder Meetings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under our bylaws, annual shareholder meetings
will be held at a time and place selected by our board of directors. The meetings may be held in or outside of the Marshall Islands.
Special meetings may be called by the chairman of our board of directors, by resolution of our board of directors or by holders
of 30% or more of the voting power of the aggregate number of our shares issued and outstanding and entitled to vote at such meeting.
Our board of directors may set a record date between 15 and 60 days before the date of any meeting to determine the shareholders
that will be eligible to receive notice and vote at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Dissenters&rsquo; Right of Appraisal and
Payment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the BCA, our shareholders have the right
to dissent from various corporate actions, including certain amendments to our articles of incorporation and certain mergers or
consolidations or the sale or exchange of all or substantially all of our assets not made in the usual course of our business,
and receive payment of the fair value of their shares, subject to exceptions. For example, the right of a dissenting shareholder
to receive payment of the fair value of his shares is not available if for the shares of any class or series of stock, which shares
at the record date fixed to determine the shareholders entitled to receive notice of and vote at the meeting of shareholders to
act upon the agreement of merger or consolidation or any sale or exchange of all or substantially all of the property and assets
of the corporation not made in the usual course of its business, were either (1) listed on a securities exchange or admitted for
trading on an interdealer quotation system or (2) held of record by more than 2,000 holders. In the event of any further amendment
of our articles of incorporation, a shareholder also has the right to dissent and receive payment for his or her shares if the
amendment alters certain rights in respect of those shares. The dissenting shareholder must follow the procedures set forth in
the BCA to receive payment. In the event that we and any dissenting shareholder fail to agree on a price for the shares, the BCA
procedures involve, among other things, the institution of proceedings in the high court of the Republic of the Marshall Islands
or in any appropriate court in any jurisdiction in which our shares are primarily traded on a local or national securities exchange
to fix the value of the shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Shareholders&rsquo; Derivative Actions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the BCA, any of our shareholders may
bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the shareholder
bringing the action is a holder of common shares or a beneficial interest therein both at the time the derivative action is commenced
and at the time of the transaction to which the action relates or that the shares devolved upon the shareholder by operation of
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Amendment to our Articles of Incorporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise provided by law, any provision
in our articles of incorporation requiring a vote of shareholders may only be amended by such a vote. Further, certain sections
may only be amended by affirmative vote of the holders of at least a majority of the voting power of the voting shares. In October
2016 we amended our articles of incorporation in order to enable us to immediately effect a four-for-one one reverse stock split,
reducing the number of outstanding common shares from 10,510,741 to 2,627,674 shares (adjustments were made based on fractional
shares). In October 2018 we amended our articles of incorporation in order to enable us to immediately effect a ten-for-one one
reverse stock split, reducing the number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were made
based on fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 98; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Anti-Takeover Effects of Certain Provisions
of our Articles of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. George Feidakis, the chairman of our board
of directors, owns beneficially a significant number of our total outstanding common shares, and may be able to block many types
of changes in control. Nonetheless, we note that certain provisions of our articles of incorporation and bylaws, which are summarized
in the following paragraphs, may have an anti-takeover effect and may delay, defer or prevent a takeover attempt or hostile change
of control that a shareholder may consider in its best interest, including those attempts that may result in a premium over the
market price for our common shares held by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Multiple Classes of
Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Should we issue any, our Class B shares will
have 20 votes per share, while our common shares, which is the only class of shares listed on an established U.S. securities exchange,
will have one vote per share. Our board of directors also has authority under our articles of incorporation to issue blank check
preferred shares. Because of this share structure, any issuance of Class B shares or preferred shares may cause such holders to
be able to significantly influence matters submitted to our shareholders for approval even if such holders and their affiliates
come to own significantly less than 50% of the aggregate number of outstanding common shares, Class B shares, and preferred shares.
This control over shareholder voting could discourage others from initiating any potential merger, takeover or other change of
control transaction that other shareholders may view as beneficial and which would require shareholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Blank Check Preferred
Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of our articles of incorporation,
our board of directors has authority, without any further vote or action by our shareholders, to issue up to 100 million shares
of blank check preferred shares. We currently have no outstanding Series A Preferred Shares. Except as may be provided in the
BCA, holders of our Series A Preferred Shares do not have any voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Classified Board of
Directors</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation provide for
a board of directors serving staggered, three-year terms. Approximately one-third of our board of directors will be elected each
year. This classified board of directors provision could discourage a third party from making a tender offer for our shares or
attempting to obtain control of us. It could also delay shareholders who do not agree with the policies of the board of directors
from removing a majority of the board of directors for two years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>No Cumulative Voting</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation prohibit cumulative
voting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Calling of Special
Meetings of Shareholders</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws provide that special meetings of
our shareholders may be called only by the chairman of our board of directors, by resolution of our board of directors or by holders
of 30% or more of the voting power of the aggregate number of our shares issued and outstanding and entitled to vote at such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Advance Notice Requirements
for Shareholder Proposals and Director Nominations</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws provide that, with a few exceptions,
shareholders seeking to nominate candidates for election as directors or to bring business before an annual meeting of shareholders
must provide timely notice of their proposal in writing to the corporate secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Generally, to be timely, a shareholder&rsquo;s
notice must be received at our principal executive offices not less than 150 days nor more than 180 days prior to the first anniversary
date of the immediately preceding annual meeting of shareholders. Our bylaws also specify requirements as to the form and content
of a shareholder&rsquo;s notice. These provisions may impede shareholders&rsquo; ability to bring matters before an annual meeting
of shareholders or make nominations for directors at an annual meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Business Combinations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although the BCA does not contain specific
provisions regarding &ldquo;business combinations&rdquo; between corporations incorporated under or redomiciled pursuant to the
laws of the Marshall Islands and &ldquo;interested shareholders,&rdquo; our articles of incorporation prohibit us from engaging
in a business combination with an interested shareholder for a period of three years following the date of the transaction in
which the person became an interested shareholder, unless, in addition to any other approval that may be required by applicable
law:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 99; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prior
                                         to the date of the transaction that resulted in the shareholder becoming an interested
                                         shareholder, our board of directors approved either the business combination or the transaction
                                         that resulted in the shareholder becoming an interested shareholder;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">upon
                                         consummation of the transaction that resulted in the shareholder becoming an interested
                                         shareholder, the interested shareholder owned at least 85.0% of our voting shares outstanding
                                         at the time the transaction commenced, excluding for purposes of determining the number
                                         of shares outstanding those shares owned by (1) persons who are directors and officers
                                         and (2) employee stock plans in which employee participants do not have the right to
                                         determine confidentially whether shares held subject to the plan will be tendered in
                                         a tender or exchange offer; or</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">at
                                         or after the date of the transaction that resulted in the shareholder becoming an interested
                                         shareholder, the business combination is approved by our board of directors and authorized
                                         at an annual or special meeting of shareholders, and not by written consent, by the affirmative
                                         vote of at least 66-2/3% of the voting power of the voting shares that are not owned
                                         by the interested shareholder.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Among other transactions, a &ldquo;business
combination&rdquo; includes any merger or consolidation of us or any directly or indirectly majority-owned subsidiary of ours
with (1) the interested shareholder or any of its affiliates or (2) with any corporation, partnership, unincorporated association
or other entity if the merger or consolidation is caused by the interested shareholder. Generally, an &ldquo;interested shareholder&rdquo;
is any person or entity (other than us and any direct or indirect majority-owned subsidiary of ours) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">owns
                                         15.0% or more of our outstanding voting shares;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">is
                                         an affiliate or associate of ours and was the owner of 15.0% or more of our outstanding
                                         voting shares at any time within the three-year period immediately prior to the date
                                         on which it is sought to be determined whether such person is an interested shareholder;
                                         or</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">is
                                         an affiliate or associate of any person listed in the first two bullets, except that
                                         any person who owns 15.0% or more of our outstanding voting shares, as a result of action
                                         taken solely by us will not be an interested shareholder unless such person acquires
                                         additional voting shares, except as a result of further action by us and not caused,
                                         directly or indirectly, by such person.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, the restrictions regarding business
combinations do not apply to persons that became interested shareholders prior to the effectiveness of our articles of incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Limitations on Liability and Indemnification
of Directors and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The BCA authorizes corporations to limit or
eliminate the personal liability of directors to corporations and their shareholders for monetary damages for breaches of certain
directors&rsquo; fiduciary duties. Our articles of incorporation include a provision that eliminates the personal liability of
directors for monetary damages for breach of fiduciary duty as a director to the fullest extent permitted by law (i.e., other
than breach of duty of loyalty, acts not taken in good faith or which involve intentional misconduct or a knowing violation of
law or transactions for which the director derived an improper personal benefit) and provides that we must indemnify our directors
and officers to the fullest extent authorized by law. We are also expressly authorized to advance certain expenses to our directors
and officers and expect to carry directors&rsquo; and officers&rsquo; insurance providing indemnification for our directors and
officers for some liabilities. We believe that these indemnification provisions and the directors&rsquo; and officers&rsquo; insurance
are useful to attract and retain qualified directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The limitation of liability and indemnification
provisions in our articles of incorporation may discourage shareholders from bringing a lawsuit against our directors for breach
of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against
directors and officers, even though such an action, if successful, may otherwise benefit us and our shareholders. In addition,
an investor in our common shares may be adversely affected to the extent we pay the costs of settlement and damage awards against
directors and officers pursuant to these indemnification provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 100; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no pending material litigation or
proceeding involving any of our directors, officers or employees for which indemnification is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>C.&nbsp;&nbsp;Material Contracts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">We refer you to &ldquo;Item
7.B. Related Party Transactions&rdquo; for a discussion of our agreements with companies related to us. We also refer you to &ldquo;Item
4.&nbsp;&nbsp;Information on the Company,&rdquo; &ldquo;Item 5.B. Liquidity and Capital Resources&mdash;Indebtedness&rdquo; and
&ldquo;Item 6.E.&nbsp;Share Ownership&mdash;Incentives Program&rdquo; for a description of other material contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Other than these agreements,
we have no material contracts, other than contracts entered into in the ordinary course of business, to which the Company or any
member of the group is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.5in"><B><I>D.&nbsp;&nbsp;Exchange
Controls</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">We are not aware, under
Marshall Islands law, of any restrictions on the export or import of capital, including foreign exchange controls or restrictions
that affect the remittance of dividends, interest or other payments to holders of our common shares that are neither residents
nor citizens of the Marshall Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.5in"><B><I>E.&nbsp;&nbsp;Taxation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>Marshall Islands
Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The following is applicable
only to persons who are not citizens of and do not reside in, maintain offices in or engage in business, transactions or operations
in the Marshall Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Because we do not, and
we do not expect that we or any of our future subsidiaries will, conduct business, transactions or operations in the Marshall
Islands, and because we anticipate that all documentation related to any offerings of our securities will be executed outside
of the Marshall Islands, under current Marshall Islands law our shareholders will not be subject to Marshall Islands taxation
or withholding tax on our distributions. In addition, our shareholders will not be subject to Marshall Islands stamp, capital
gains or other taxes on the purchase, ownership or disposition of our common shares, and our shareholders will not be required
by the Marshall Islands to file a tax return related to our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>Malta Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">One of our subsidiaries
is incorporated in Malta, which imposes taxes on us that are immaterial to our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>Greek Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">In January 2013, a tax
law 4110/2013 amended the long-standing 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 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 completely satisfies all income tax
obligations of both the shipowning 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><B>United States Tax
Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">This discussion of United
States federal income taxes is based upon provisions of the Code, existing final, temporary and proposed regulations thereunder
and current administrative rulings and court decisions, all as in effect on the effective date of this annual report on Form 20-F
and all of which are subject to change, possibly with retroactive effect. Changes in these authorities may cause the tax consequences
to vary substantially from the consequences described below. No rulings have been or are expected to be sought from the IRS with
respect to any of the United States federal income tax consequences discussed below, and no assurance can be given that the IRS
will not take contrary positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 101; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Further, the following
summary does not deal with all United States federal income tax consequences applicable to any given holder of our common shares,
nor does it address the United States federal income tax considerations applicable to categories of investors subject to special
taxing rules, such as expatriates, banks, real estate investment trusts, regulated investment companies, insurance companies,
tax-exempt organizations, dealers or traders in securities or currencies, partnerships, S corporations, estates and trusts, investors
that hold their common shares as part of a hedge, straddle or an integrated or conversion transaction, investors whose &ldquo;functional
currency&rdquo; is not the United States dollar or investors that own, directly or indirectly, 10% or more of our stock by vote
or value. Furthermore, the discussion does not address alternative minimum tax consequences or estate or gift tax consequences,
or any state tax consequences, and is limited to shareholders that will hold their common shares as &ldquo;capital assets&rdquo;
within the meaning of Section 1221 of the Code. Each shareholder is encouraged to consult, and discuss with his or her own tax
advisor the United States federal, state, local and non-United States tax consequences particular to him or her of the acquisition,
ownership or disposition of common shares. Further, it is the responsibility of each shareholder to file all state, local and
non-U.S., as well as U.S. federal, tax returns that may be required of it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.5in"><B><I>United
States Federal Income Taxation of the Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>Taxation
of Operating Income</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Unless exempt from United
States federal income taxation under the rules described below in &ldquo;&mdash;The Section 883 Exemption,&rdquo; a foreign corporation
that earns only transportation income is generally subject to United States federal income taxation under one of two alternative
tax regimes: (1) the 4% gross basis tax or (2) the net basis tax and branch profits tax. The Company is a Marshall Islands corporation
and its subsidiaries are incorporated in the Marshall Islands or Malta. There is no comprehensive income tax treaty between the
Marshall Islands and the United States, so the Company and its Marshall Islands subsidiaries cannot claim an exemption from this
tax under a treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
4% Gross Basis Tax</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The United States imposes
a 4% United States federal income tax (without allowance of any deductions) on a foreign corporation&rsquo;s United States source
gross transportation income to the extent such income is not treated as effectively connected with the conduct of a United States
trade or business. For this purpose, transportation income includes income from the use, hiring or leasing of a vessel, or the
performance of services directly related to the use of a vessel (and thus includes time charter, spot charter and bareboat charter
income). The United States source portion of transportation income is 50% of the income attributable to voyages that begin or
end, but not both begin and end, in the United States. As a result of this sourcing rule the effective tax rate is 2% of the gross
income attributable to U.S. voyages. Generally, no amount of the income from voyages that begin and end outside the United States
is treated as United States source, and consequently none of the transportation income attributable to such voyages is subject
to this 4% tax. (Although the entire amount of transportation income from voyages that begin and end in the United States would
be United States source, neither the Company nor any of its subsidiaries expects to have any transportation income from voyages
that both begin and end in the United States.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
Net Basis Tax and Branch Profits Tax</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The Company and each
of its subsidiaries do not expect to engage in any activities in the United States (other than port calls of its vessels) or otherwise
have a fixed place of business in the United States. Consequently, the Company and its subsidiaries are not expected to be subject
to the net basis or branch profits taxes. Nonetheless, if this situation were to change or if the Company or a subsidiary of the
Company were to be treated as engaged in a United States trade or business, all or a portion of the Company&rsquo;s or such subsidiary&rsquo;s
taxable income, including gain from the sale of vessels, could be treated as effectively connected with the conduct of this United
States trade or business, or effectively connected income. Any effectively connected income, net of allowable deductions, would
be subject to United States federal corporate income tax. In addition, an additional 30% branch profits tax would be imposed on
the Company or such subsidiary at such time as the Company&rsquo;s or such subsidiary&rsquo;s after-tax effectively connected
income is deemed to have been repatriated to the Company&rsquo;s or subsidiary&rsquo;s offshore office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 102; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The 4% gross basis tax
described above is inapplicable to income that is treated as effectively connected income. A non-United States corporation&rsquo;s
United States source transportation income would be considered to be effectively connected income only if the non-United States
corporation has or is treated as having a fixed place of business in the United States involved in the earning of the transportation
income and substantially all of its United States source transportation income is attributable to regularly scheduled transportation
(such as a published schedule with repeated sailings at regular intervals between the same points for voyages that begin or end
in the United States), or in the case of leasing income (such as bareboat charter income) is attributable to such fixed place
of business. The Company and its vessel-owning subsidiaries believe that their vessels will not operate to and from the United
States on a regularly scheduled basis. Based on the intended mode of shipping operations and other activities, the Company and
its vessel-owning subsidiaries do not expect to have any effectively connected income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
Section 883 Exemption</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Both the 4% gross basis
tax and the net basis and branch profits taxes described above are inapplicable to transportation income that qualifies for the
Section 883 Exemption. To qualify for the Section 883 Exemption a foreign corporation must, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">be
                                         organized in a jurisdiction outside the United States that grants an equivalent exemption
                                         from tax to corporations organized in the United States (an &ldquo;Equivalent Exemption&rdquo;);</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">satisfy
                                         one of the following three ownership tests (discussed in more detail below): (1) the
                                         more than 50% ownership test, or 50% Ownership Test, (2) the controlled foreign corporation
                                         test, or CFC Test, or (3) the &ldquo;Publicly Traded Test&rdquo;; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">meet
                                         certain substantiation, reporting and other requirements (which include the filing of
                                         United States income tax returns).</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The Company is a Marshall
Islands corporation, and each of the vessels in its fleet is owned by a separate wholly owned subsidiary organized in the Marshall
Islands or Malta. The U.S. Department of the Treasury recognizes the Marshall Islands and Malta as jurisdictions which grant an
Equivalent Exemption; therefore, the Company and each of its vessel-owning subsidiaries meet the first requirement for the Section
883 Exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
50</I> % <I>Ownership Test</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">In order to satisfy
the 50% Ownership Test, a non-United States corporation must be able to substantiate that more than 50% of the value of its shares
is owned, for at least half of the number of days in the non-United States corporation&rsquo;s taxable year, directly or indirectly,
by &ldquo;qualified shareholders.&rdquo; For this purpose, qualified shareholders are: (1) individuals who are residents (as defined
in the Treasury regulations promulgated under Section 883 of the Code, or Section 883 Regulations) of countries, other than the
United States, that grant an Equivalent Exemption, (2) non-United States corporations that meet the Publicly Traded Test of the
Section 883 Regulations and are organized in countries that grant an Equivalent Exemption, or (3) certain foreign governments,
non-profit organizations, and certain beneficiaries of foreign pension funds. In order for a shareholder to be a qualified shareholder,
there generally cannot be any bearer shares in the chain of ownership between the shareholder and the taxpayer claiming the exemption
(unless such bearer shares are maintained in a dematerialized or immobilized book-entry system as permitted under the Section
883 Regulations). A corporation claiming the Section 883 Exemption based on the 50% Ownership Test must obtain all the facts necessary
to satisfy the IRS that the 50% Ownership Test has been satisfied (as detailed in the Section 883 Regulations). For the taxable
year ended December 31, 2018, the Company believes that each of its vessel-owning subsidiaries satisfied the 50% Ownership Test
based on the beneficial ownership of more than 50% of the value of its shares by a qualified shareholder for at least half of
the number of days in the Company&rsquo;s taxable year, assuming that such shareholder meets all of the substantiation and reporting
requirements under Section 883 of the Code and the Section 883 Regulations for such taxable year, and that each such subsidiary
should therefore qualify for the Section 883 Exemption for such taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 103; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
CFC Test</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">The CFC Test requires
that a non-United States corporation be treated as a controlled foreign corporation, or a CFC, for United States federal income
tax purposes for more than half of the days in the taxable year. A CFC is a foreign corporation, more than 50% of the vote or
value of which is owned by significant U.S. shareholders (meaning U.S. persons who own at least 10% of the vote or value of the
foreign corporation). In addition, more than 50% of the value of the shares of the CFC must be owned by qualifying U.S. persons
for more than half of the days during the taxable year concurrent with the period of time that the company qualifies as a CFC.
For this purpose, a qualifying U.S. person is defined as a U.S. citizen or resident alien, a domestic corporation or domestic
tax-exempt trust, in each case, if such U.S. person provides the company claiming the exemption with an ownership statement. The
Company does not believe that the requirements of the CFC Test will be met in the near future with respect to the Company or any
of its subsidiaries.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>The
Publicly Traded Test</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">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 &ldquo;primarily and regularly traded&rdquo; on an established securities market either in the United States or
in a foreign country that grants an Equivalent Exemption. The Section 883 Regulations provide, in relevant part, that the shares
of a non-United States corporation will be considered to be &ldquo;primarily traded&rdquo; 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. The Section 883 Regulations also generally provide that shares will be considered to be &ldquo;regularly
traded&rdquo; on an established securities market if one or more classes of shares in the corporation representing in the aggregate
more than 50% of the total combined voting power and value of all classes of shares of the corporation are listed on an established
securities market. Also, with respect to each class relied upon to meet this requirement (1) such class of shares must be traded
on the market, other than in minimal quantities, on at least 60 days during the taxable year or one-sixth of the days in a short
taxable year, and (2) the aggregate number of shares of such class of shares traded on such market during the taxable year is
at least 10% of the average number of shares of such class of shares outstanding during such year or as adjusted for a short taxable
year. These two tests are deemed to be satisfied if such class of shares is traded on an established market in the United States
and such shares are regularly quoted by dealers making a market in such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Notwithstanding the foregoing, the Section
883 Regulations provide, in relevant part, that a class of shares will not be considered to be &ldquo;regularly traded&rdquo;
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, to which we refer
as the 5 Percent Override Rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of being able to determine the
person who actually or constructively own 5% or more of the vote and value of the Company&rsquo;s common shares, or 5% Shareholders,
the Section 883 Regulations permit a company whose stock is traded on an established securities market in the United States to
rely on those persons that are identified on Schedule 13G and Schedule 13D filings with the SEC, as owning 5% or more of the company&rsquo;s
common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event the 5 Percent Override Rule is
triggered, the Section 883 Regulations provide 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 Section 883 and the Section 883 Regulations
to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the Company&rsquo;s common
shares for more than half the number of days during the taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company and its
vessel-owning subsidiaries should satisfy the 50% Ownership Test for 2018, based on the fact that a single qualified
shareholder beneficially owned more than 50% of the value of the Company&rsquo;s shares for at least half of the number of
days in the Company&rsquo;s taxable year. However, because such qualified shareholder&rsquo;s beneficial ownership fell below
50% of the value of the Company&rsquo;s shares in November 2018, the Company may be unable to satisfy the 50% Ownership
Test for 2019 or later years. It is possible that the Company will satisfy the Publicly Traded Test in 2019 or later
years. However, if the Company&rsquo;s common shares are delisted (as described in &ldquo;Item 3.D. Risk
Factors&mdash;Company Specific Risk Factors&mdash;Our common shares may be delisted from Nasdaq, which could affect their
market price and liquidity&rdquo;), the Publicly Traded Test generally would not be met. Furthermore, if, 50% or more of the
vote and value of the outstanding shares of our common shares are owned on more than half the days during the Company&rsquo;s
taxable year by 5% Shareholders, and the 5 Percent Override Rule does not apply, then the Publicly Traded Test generally
would not be met. The Company anticipates that its historic qualified shareholder who beneficially owned more than 50% of the
Company&rsquo;s common shares prior to November 2018 will continue to qualify towards the 5 Percent Override Rule,
which will help in satisfying the Publicly Traded Test. However, because the common shares are publicly traded, there can be
no guarantee that the shareholding requirements will be met in 2019 or future years. The stock in the
Company&rsquo;s vessel-owning subsidiaries is not publicly traded, but if the Company meets the Publicly Traded Test
described above, the Company also may be a qualified shareholder for purposes of applying the 50% Ownership Test as to any
subsidiary claiming the Section 883 Exemption. However, if for any period after the Company issues the Class B shares, the
common shares represent less than 50% of the voting power of the Company, the Company would not be able to satisfy the
Publicly Traded Test for such period because less than 50% of the stock of the Company, measured by voting power, would be
listed on an established securities market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 104; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">A foreign
corporation can only claim the Section 883 Exemption if it receives the ownership statements required under the Section 883 Regulations
certifying as to the matters required to satisfy the relevant ownership test. Each of our vessel-owning subsidiaries has received,
or expects to receive, ownership statements, valid for the year ended December 31, 2018, certifying the qualified shareholder
status of a shareholder beneficially owning more than 50% of the value of each such subsidiary&rsquo;s stock and the status of
intermediaries as required to support a claim by each vessel-owning subsidiary of the Section 883 Exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">Each
of the Company&rsquo;s vessel-owning subsidiaries has claimed the Section 883 Exemption on the basis that it satisfies the 50%
Ownership Test and the Company intends to continue to comply with the substantiation, reporting and other requirements that are
applicable under Section 883 of the Code to enable such subsidiaries to claim the exemption on this basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">In
the future, if the shareholders or the relative ownership in the Company changes, if the Company believes that it (or its subsidiaries)
can qualify for the Section 883 Exemption, each shareholder who is or may be a qualifying person will be asked to provide to the
Company an ownership statement for purposes of substantiating the relevant company&rsquo;s entitlement to the exemption. An ownership
statement is required to be signed by the shareholder under penalties of perjury and contains information regarding the residence
of the shareholder and its ownership in the company claiming the Section 883 Exemption. If the Company or a subsidiary needs to
obtain additional ownership statements in order to establish a Section 883 Exemption, there is no guarantee that shareholders
representing a sufficient ownership interest in the Company or any of its subsidiaries will provide ownership statements to the
relevant company so that it will satisfy any of the Section 883 ownership tests and the Section 883 Exemption would not apply
to the Company. If in future years the shareholders fail to update or correct such statements, the Company and its subsidiaries
may be unable to continue to qualify for the Section 883 Exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">A corporation&rsquo;s
qualification for the Section 883 Exemption is determined for each taxable year. If the Company and/or its subsidiaries were not
to qualify for the Section 883 Exemption in any year, the United States income taxes that become payable would have a negative
effect on the business of the Company and its subsidiaries, and would result in decreased earnings available for distribution
to the Company&rsquo;s shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>United
States Taxation of Gain on Sale of Vessels</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">If
the Company&rsquo;s subsidiaries qualify for the Section 883 Exemption, then gain from the sale of any vessel would be exempt
from tax under Section 883. If, however, the gain is not exempt from tax under Section 883, the Company will not be subject to
United States federal income taxation with respect to such gain provided that the income from the vessel has never constituted
effectively connected income and that the sale is considered to occur outside of the United States under United States federal
income tax principles. In general, a sale of a vessel will be considered to occur outside of the United States for this purpose
if title to the vessel, and risk of loss with respect to the vessel, pass to the buyer outside of the United States. To the extent
possible, the Company will attempt to structure any sale of a vessel so that it is considered to occur outside of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>United States Federal Income
Taxation of United States Holders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">As
used herein, &ldquo;United States Holder&rdquo; means a beneficial owner of the Company&rsquo;s common shares that is an individual
citizen or resident of the United States for United States federal income tax purposes, a corporation or other entity taxable
as a corporation created or organized in or under the laws of the United States or any state thereof (including the District of
Columbia), an estate the income of which is subject to United States federal income taxation regardless of its source or a trust
where a court within the United States is able to exercise primary supervision over the administration of the trust and one or
more United States persons (as defined in the Code) have the authority to control all substantial decisions of the trust (or a
trust that has made a valid election under U.S. Department of the Treasury regulations to be treated as a domestic trust). A &ldquo;Non-United
States Holder&rdquo; generally means any owner (or beneficial owner) of common shares that is not a United States Holder, other
than a partnership. If a partnership holds common shares, the tax treatment of a partner will generally depend upon the status
of the partner and upon the activities of the partnership. Partners of partnerships holding common shares should consult their
own tax advisors regarding the tax consequences of an investment in the common shares (including their status as United States
Holders or Non-United States Holders).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 105; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>Distributions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to the discussion of PFICs below,
any distributions made by the Company with respect to the common shares to a United States Holder will generally constitute dividends,
which may be taxable as ordinary income or qualified dividend income as described in more detail below, to the extent of the Company&rsquo;s
current or accumulated earnings and profits as determined under United States federal income tax principles. Distributions in
excess of the Company&rsquo;s earnings and profits will be treated as a nontaxable return of capital to the extent of the United
States Holder&rsquo;s tax basis in its common shares and, thereafter, as capital gain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dividends paid in respect of the Company&rsquo;s
common shares may qualify for the preferential rate attributable to qualified dividend income if: (1) the common shares are readily
tradable on an established securities market in the United States; (2) the Company is not a PFIC for the taxable year during which
the dividend is paid or in the immediately preceding taxable year; (3) the United States Holder has owned the common shares for
more than 60 days in the 121-day period beginning 60 days before the date on which the common shares become ex-dividend and (4)
the United States Holder is not under an obligation to make related payments with respect to positions in substantially similar
or related property. The first requirement currently is and has been met, as our common shares are listed on the Nasdaq Capital
Market. The Nasdaq Capital Market is a tier of the Nasdaq Stock Market, which is an established securities market. Further, there
is no minimal trading requirement for shares to be &ldquo;readily tradable,&rdquo; so as long as our common shares remain listed
on the Nasdaq Capital Market or any other established securities market in the United States, the first requirement will be satisfied.
However, if our common shares are delisted and are not tradable on an established securities market in the United States (as described
in &ldquo;Item 3.D. Risk Factors&mdash;Company Specific Risk Factors&mdash;Our common shares may be delisted from Nasdaq, which
could affect their market price and liquidity&rdquo;), the first requirement would not be satisfied, and dividends paid in respect
of our common shares would not qualify for the preferential rate attributable to qualified dividend income. The second requirement
is expected to be met as more fully described below under &ldquo;&mdash;Consequences of Possible PFIC Classification.&rdquo; Satisfaction
of the final two requirements will depend on the particular circumstances of each United States Holder. Consequently, if any of
these requirements are not met, the dividends paid to individual United States Holders in respect of the Company&rsquo;s common
shares would not be treated as qualified dividend income and would be taxed as ordinary income at ordinary rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amounts taxable as dividends generally will
be treated as income from sources outside the United States and will, depending on your circumstances, be &ldquo;passive&rdquo;
or &ldquo;general&rdquo; income which, in either case, is treated separately from other types of income for purposes of computing
the foreign tax credit allowable to you. However, if (1) the Company is 50% or more owned, by vote or value, by United States
persons and (2) at least 10% of the Company&rsquo;s earnings and profits are attributable to sources within the United States,
then for foreign tax credit purposes, a portion of our dividends would be treated as derived from sources within the United States.
Under such circumstances, with respect to any dividend paid for any taxable year, the United States source ratio of the Company&rsquo;s
dividends for foreign tax credit purposes would be equal to the portion of the Company&rsquo;s earnings and profits from sources
within the United States for such taxable year, divided by the total amount of the Company&rsquo;s earnings and profits for such
taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>Consequences
of Possible PFIC Classification </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A non-United States entity treated as a corporation
for United States federal income tax purposes will be a PFIC in any taxable year in which, after taking into account the income
and assets of the corporation and certain subsidiaries pursuant to a &ldquo;look through&rdquo; rule, either: (1) 75% or more
of its gross income is &ldquo;passive&rdquo; income or (2) 50% or more of the average value of its assets is attributable to assets
that produce passive income or are held for the production of passive income. If a corporation is a PFIC in any taxable year that
a person holds shares in the corporation (and was not a qualified electing fund with respect to such year, as discussed below),
the shares held by such person will be treated as shares in a PFIC for all future years (absent an election which, if made, may
require the electing person to pay taxes in the year of the election). A United States Holder of shares in a PFIC would be required
to file an annual information return on IRS Form 8621 containing information regarding the PFIC as required by U.S. Department
of the Treasury regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 106; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While there are legal uncertainties involved
in this determination, including as a result of adverse case law described herein, based upon the Company&rsquo;s and its subsidiaries&rsquo;
expected operations as described herein and based upon the current and expected future activities and operations of the Company
and its subsidiaries, the income of the Company and such subsidiaries from time charters should not constitute &ldquo;passive
income&rdquo; for purposes of applying the PFIC rules, and the assets that the Company owns for the production of this time charter
income should not constitute passive assets for purposes of applying the PFIC rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although there is no legal authority directly
on point, this view is based principally on the position that the gross income that the Company and its subsidiaries derive from
time charters constitutes services income rather than passive rental income. The Fifth Circuit Court of Appeals decided in <I>Tidewater
Inc. v. United States</I>, 565 F.3d 299 (5th Cir., 2009) that a typical time charter is a lease, and not a contract for the provision
of transportation services. In that case, the court was considering a tax issue that turned on whether the taxpayer was a lessor
where a vessel was under a time charter, and the court did not address the definition of passive income or the PFIC rules; however,
the reasoning of the case could have implications as to how the income from a time charter would be classified under such rules.
If the reasoning of the <I>Tidewater</I> case is applied to the Company&rsquo;s situation and the Company&rsquo;s or its subsidiaries&rsquo;
time charters are treated as leases, the Company&rsquo;s or its subsidiaries&rsquo; time charter income could be classified as
rental income and the Company would be a PFIC unless more than 25% of the income of the Company (taking into account the subsidiary
look through rule) is from spot charters plus other active income or an active leasing exception applies. The IRS has announced
that it will not follow the reasoning of the Tidewater case and would have treated the income from the time charters at issue
in that case as services income, including for other purposes of the Code. The Company intends to take the position that all of
its time, voyage and spot chartering activities will generate active services income and not passive leasing income, but in the
absence of direct legal authority specifically relating to the Code provisions governing PFICs, the IRS or a court could disagree
with this position. Although the matter is not free from doubt as described herein, based on the current operations and activities
of the Company and its subsidiaries and on the relative values of the vessels in the Company&rsquo;s fleet and the charter income
in respect of the vessels, Globus Maritime Limited should not be treated as a PFIC during the taxable year ended December 31,
2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the Company&rsquo;s intention and
expectation that the Company&rsquo;s subsidiaries&rsquo; income from spot, time and voyage chartering activities plus other active
operating income will be greater than 25% of the Company&rsquo;s total gross income at all relevant times and that the gross value
of the vessels subject to such time, voyage or spot charters will exceed the gross value of all the passive assets the Company
owns at all relevant times, Globus Maritime Limited does not expect that it will constitute a PFIC with respect to a taxable year
in the near future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company will try to manage its vessels
and its business so as to avoid being classified as a PFIC for a future taxable year; however there can be no assurance that the
nature of the Company&rsquo;s assets, income and operations will remain the same in the future (notwithstanding the Company&rsquo;s
current expectations). Additionally, no assurance can be given that the IRS or a court of law will accept the Company&rsquo;s
position that the time charters that the Company&rsquo;s subsidiaries have entered into or any other time charter that the Company
or a subsidiary may enter into will give rise to active income rather than passive income for purposes of the PFIC rules, or that
future changes of law will not adversely affect this position. The Company has not obtained a ruling from the IRS on its time
charters or its PFIC status and does not intend to seek one. Any contest with the IRS may materially and adversely impact the
market for the common shares and the prices at which they trade. In addition, the costs of any contest on the issue with the IRS
will result in a reduction in cash available for distribution and thus will be borne indirectly by the Company&rsquo;s shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If Globus Maritime Limited were to be classified
as a PFIC in any year, each United States Holder of the Company&rsquo;s shares will be subject (in that year and all subsequent
years) to special rules with respect to: (1) any &ldquo;excess distribution&rdquo; (generally defined as any distribution received
by a shareholder in a taxable year that is greater than 125% of the average annual distributions received by the shareholder in
the three preceding taxable years or, if shorter, the shareholder&rsquo;s holding period for the shares), and (2) any gain realized
upon the sale or other disposition of the common shares. Under these rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         excess distribution or gain will be allocated ratably over the United States Holder&rsquo;s
                                         holding period;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         amount allocated to the current taxable year and any year prior to the first year in
                                         which the Company was a PFIC will be taxed as ordinary income in the current year; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 107; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         amount allocated to each of the other taxable years in the United States Holder&rsquo;s
                                         holding period will be subject to United States federal income tax at the highest rate
                                         in effect for the applicable class of taxpayer for that year, and an interest charge
                                         will be added as though the amount of the taxes computed with respect to these other
                                         taxable years were overdue.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">In
order to avoid the application of the PFIC rules, United States Holders may make a qualified electing fund, or a QEF, election
provided in Section 1295 of the Code in respect of their common shares. Even if a United States Holder makes a QEF election for
a taxable year of the Company, if the Company was a PFIC for a prior taxable year during which such holder held the common shares
and for which such holder did not make a timely QEF election, the United States Holder would also be subject to the more adverse
rules described above. Additionally, to the extent any of the Company&rsquo;s subsidiaries is a PFIC, an election by a United
States Holder to treat Globus Maritime Limited as a QEF would not be effective with respect to such holder&rsquo;s deemed ownership
of the stock of such subsidiary and a separate QEF election with respect to such subsidiary is required. In lieu of the PFIC rules
discussed above, a United States Holder that makes a timely, valid QEF election will, in very general terms, be required to include
its pro rata share of the Company&rsquo;s ordinary income and net capital gains, unreduced by any prior year losses, in income
for each taxable year (as ordinary income and long-term capital gain, respectively) and to pay tax thereon, even if no actual
distributions are received for that year in respect of the common shares and even if the amount of that income is not the same
as the amount of actual distributions paid on the common shares during the year. If the Company later distributes the income or
gain on which the United States Holder has already paid taxes under the QEF rules, the amounts so distributed will not again be
subject to tax in the hands of the United States Holder. A United States Holder&rsquo;s tax basis in any common shares as to which
a QEF election has been validly made will be increased by the amount included in such United States Holder&rsquo;s income as a
result of the QEF election and decreased by the amount of nontaxable distributions received by the United States Holder. On the
disposition of a common share, a United States Holder making the QEF election generally will recognize capital gain or loss equal
to the difference, if any, between the amount realized upon such disposition and its adjusted tax basis in the common share. In
general, a QEF election should be made by filing a Form 8621 with the United States Holder&rsquo;s federal income tax return on
or before the due date for filing such United States Holder&rsquo;s federal income tax return for the first taxable year for which
the Company is a PFIC or, if later, the first taxable year for which the United States Holder held common shares. In this regard,
a QEF election is effective only if certain required information is made available by the PFIC. Subsequent to the date that the
Company first determines that it is a PFIC, the Company will use commercially reasonable efforts to provide any United States
Holder of common shares, upon request, with the information necessary for such United States Holder to make the QEF election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">In
addition to the QEF election, Section 1296 of the Code permits United States Holders to make a &ldquo;mark-to-market&rdquo; election
with respect to marketable shares in a PFIC, generally meaning shares regularly traded on a qualified exchange or market and certain
other shares considered marketable under U.S. Department of the Treasury regulations. For this purpose, a class of shares is regularly
traded on a qualified exchange or market for any calendar year during which such class of shares is traded, other than in de minimis
quantities, on at least 15 days during each calendar quarter of the year. Our common shares are regularly traded on the Nasdaq
Capital Market, which is an established securities market. However, if our common shares were to be delisted, (as described in
&ldquo;Item 3.D. Risk Factors&mdash;Company Specific Risk Factors&mdash;Our common shares may be delisted from Nasdaq, which could
affect their market price and liquidity&rdquo;), then the mark-to-market election generally would be unavailable to United States
Holders. If a United States Holder makes a mark-to-market election in respect of its common shares, such United States Holder
generally would, in each taxable year: (1) include as ordinary income the excess, if any, of the fair market value of the common
shares at the end of the taxable year over such United States Holder&rsquo;s adjusted tax basis in the common shares, and (2)
be permitted an ordinary loss in respect of the excess, if any, of such United States Holder&rsquo;s adjusted tax basis in the
common shares over their fair market value at the end of the taxable year, but only to the extent of the net amount previously
included in income as a result of the mark-to-market election (with the United States Holder&rsquo;s basis in the common shares
being increased and decreased, respectively, by the amount of such ordinary income or ordinary loss). The consequences of this
election may be less favorable than those of a QEF election for United States Holders that are sensitive to the distinction between
ordinary income and capital gain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">United
States Holders are urged to consult their tax advisors as to the consequences of making a mark-to-market or QEF election, as well
as other United States federal income tax consequences of holding shares in a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 108; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">As
previously indicated, if the Company were to be classified as a PFIC for a taxable year in which the Company pays a dividend or
the immediately preceding taxable year, dividends paid by the Company would not constitute &ldquo;qualified dividend income&rdquo;
and, hence, would not be eligible for the reduced rate of United States federal income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>Sale,
Exchange or Other Disposition of Common Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify">A United
States Holder generally will recognize taxable gain or loss upon a sale, exchange or other disposition of common shares in an
amount equal to the difference between the amount realized by the United States Holder from such sale, exchange or other disposition
and the United States Holder&rsquo;s tax basis in such common shares. Assuming the Company does not constitute a PFIC for any
taxable year, this gain or loss will generally be treated as long-term capital gain or loss if the United States Holder&rsquo;s
holding period is greater than one year at the time of the sale, exchange or other disposition. Long term capital gains recognized
by a United States Holder other than a corporation are generally taxed at preferential rates. A United States Holder&rsquo;s ability
to deduct capital losses is subject to limitations.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-left: 0.75in"><I>Net
Investment Income Tax</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A United States Holder that is an individual
or estate, or a trust that does not fall into a special class of trusts that is exempt from such tax, is subject to a 3.8% tax
on the lesser of (1) such United States Holder&rsquo;s &ldquo;net investment income&rdquo; (or undistributed &ldquo;net investment
income&rdquo; in the case of estates and trusts) for the relevant taxable year and (2) the excess of such United States Holder&rsquo;s
modified adjusted gross income for the taxable year over a certain threshold (which in the case of individuals will be between
$125,000 and $250,000, depending on the individual&rsquo;s circumstances). A United States Holder&rsquo;s net investment income
will generally include its gross dividend income and its net gains from the disposition of the common shares, unless such dividends
or net gains are derived in the ordinary course of the conduct of a trade or business (other than a trade or business that consists
of certain passive or trading activities). Net investment income generally will not include a United States Holder&rsquo;s pro
rata share of the Company&rsquo;s income and gain if we are a PFIC and that United States Holder makes a QEF election, as described
above in &ldquo;&mdash;United States Federal Income Taxation of United States Holders&mdash;Consequences of Possible PFIC Classification&rdquo;.
However, a United States Holder may elect to treat inclusions of income and gain from a QEF election as net investment income.
Failure to make this election could result in a mismatch between a United States Holder&rsquo;s ordinary income and net investment
income. If you are a United States Holder that is an individual, estate or trust, you are urged to consult your tax advisor regarding
the applicability of the net investment income tax to your income and gains in respect of your investment in the common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>United States Federal
Income Taxation of Non-United States Holders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A Non-United States Holder will generally
not be subject to United States federal income tax on dividends paid in respect of the common shares or on gains recognized in
connection with the sale or other disposition of the common shares provided that the Non-United States Holder makes certain tax
representations regarding the identity of the beneficial owner of the common shares, that such dividends or gains are not effectively
connected with the Non-United States Holder&rsquo;s conduct of a United States trade or business and that, with respect to gain
recognized in connection with the sale or other disposition of the common shares by a non-resident alien individual, such individual
is not present in the United States for 183 days or more in the taxable year of the sale or other disposition and other conditions
are met. If the Non-United States Holder is engaged in a United States trade or business for United States federal income tax
purposes, the income from the common shares, including dividends and gain from the sale, exchange or other disposition of the
common stock, that is effectively connected with the conduct of that trade or business will generally be subject to regular United
States federal income tax in the same manner as discussed above relating to the taxation of United States Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Backup Withholding
and Information Reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Information reporting to the IRS may be required
with respect to payments on the common shares and with respect to proceeds from the sale of the common shares. With respect to
Non-United States Holders, copies of such information returns may be made available to the tax authorities in the country in which
the Non-United States Holder resides under the provisions of any applicable income tax treaty or exchange of information agreement.
A &ldquo;backup&rdquo; withholding tax may also apply to those payments if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a
                                         holder of the common shares fails to provide certain identifying information (such as
                                         the holder&rsquo;s taxpayer identification number or an attestation to the status of
                                         the holder as a Non-United States Holder);</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 109; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">such
                                         holder is notified by the IRS that he or she has failed to report all interest or dividends
                                         required to be shown on his or her federal income tax returns; or</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         certain circumstances, such holder has failed to comply with applicable certification
                                         requirements.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Backup withholding is not an additional tax
and may be refunded (or credited against the holder&rsquo;s United States federal income tax liability, if any), provided that
certain required information is furnished to the IRS in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Non-United States Holders may be required
to establish their exemption from information reporting and backup withholding by certifying their status on IRS Form W-8BEN,
W-8BEN-E, W-8ECI or W-8IMY, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Individual United States Holders who hold
certain specified foreign assets with values in excess of certain dollar thresholds are required to report such assets on IRS
Form 8938 with their U.S. federal income tax return, subject to certain exceptions (including an exception for foreign assets
held in accounts maintained by financial institutions). Stock in a foreign corporation, including our common shares, is a specified
foreign asset for this purpose. Penalties apply for failure to properly complete and file Form 8938. You should consult your tax
advisor regarding the filing of this form. United States Holders of common shares may be required to file additional forms with
the IRS under the applicable reporting provisions of the Code. You should consult your tax advisor regarding the filing of any
such forms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>We encourage each United States Holder
and Non-United States Holder to consult with his, her or its own tax advisor as to the particular tax consequences to him, her
or it of holding and disposing of the Company&rsquo;s common shares, including the applicability of any federal, state, local
or foreign tax laws and any proposed changes in applicable law.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>F.&nbsp;&nbsp;Dividends
and Paying Agents</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>G.&nbsp;&nbsp;Statement by
Experts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>H.&nbsp;&nbsp;Documents
on Display</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We file reports and other information with
the SEC. These materials, including this annual report on Form 20-F and the accompanying exhibits, may be inspected and copied
at the public reference facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549, or from the SEC&rsquo;s
website http://www.sec.gov. You may obtain information on the operation of the public reference room by calling 1 (800) SEC-0330
and you may obtain copies at prescribed rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>I.&nbsp;&nbsp;Subsidiary
Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_014"></A><B>Item 11.&nbsp;&nbsp;Quantitative
and Qualitative Disclosures About Market Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Interest Rates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are exposed to market risks associated
with changes in interest rates relating to our loan arrangements with Macquarie Bank International Limited and Hamburg Commercial
Bank AG. As of December 31, 2018, we had a $13.5 million principal balance outstanding under the Macquarie Loan Agreement with
Macquarie Bank International Limited and a $22.2 million principal balance outstanding under the Hamburg Commercial Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2018, we entered into a credit
facility for up to $15.0 million with Firment Shipping Inc., a related party to us, for the purpose of financing our general working
capital needs. We are not exposed to market risk with respect to this facility because interest is charges at a fixed rate of
7% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 110; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest costs incurred under our loan arrangements
are included in our consolidated statement of comprehensive (loss)/income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2018, the weighted average interest rate
for our then-outstanding facilities in total was 4.97% and the respective interest rates on our loan agreements ranged from 4.1%
to 7%, including margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We will continue to have debt outstanding,
which could impact our results of operations and financial condition. Although we may in the future prefer to generate funds through
equity offerings on terms acceptable to us rather than through the use of debt arrangements, we may not be able to do so. We expect
to manage any exposure in interest rates through our regular operating and financing activities and, when deemed appropriate,
through the use of derivative financial instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth the sensitivity
of our existing loans as of December 31, 2018 as to a 1.0% (100 basis points) increase in LIBOR, during the next five years, and
reflects the additional interest expense that will be incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 85%; text-align: left; border-bottom: Black 1pt solid"><B>Year</B></TD><TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 1%; text-align: center; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="width: 12%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD><TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
                                       0.3 million</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
                                       0.1 million</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.1
                                       million</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2022</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.1
                                       million</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2023</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.1
                                       million</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Currency and Exchange Rates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We generate revenues from the trading of our
vessels in U.S. dollars but historically incur certain amounts of our operating expenses in currencies other than the U.S. dollar.
When we were incorporated in Jersey, the majority of our general and administrative expenses (including stock exchange fees and
advisor fees) were payable in U.K. pounds sterling. For cash management, or treasury, purposes, we convert U.S. dollars into foreign
currencies which we then hold on deposit until the date of each transaction. Fluctuations in foreign exchange rates create foreign
exchange gains or losses when we mark-to-market these non-U.S. dollar deposits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For accounting purposes, expenses incurred
in Euro and other foreign currencies are converted into U.S. dollars at the exchange rate prevailing on the date of each transaction.
Because a portion of our expenses are incurred in currencies other than the U.S. dollar, our expenses may from time to time increase
relative to our revenues as a result of fluctuations in exchange rates, which could affect the amount of net income that we report
in future periods. While we historically have not mitigated the risk associated with exchange rate fluctuations through the use
of financial derivatives, we may determine to employ such instruments from time to time in the future in order to minimize this
risk. Our use of financial derivatives would involve certain risks, including the risk that losses on a hedged position could
exceed the nominal amount invested in the instrument and the risk that the counterparty to the derivative transaction may be unable
or unwilling to satisfy its contractual obligations, which could have an adverse effect on our results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Commodity Risk Exposure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The price and supply of fuel is unpredictable
and fluctuates as a result of events outside our control, including geo-political developments, supply and demand for oil and
gas, actions by members of the Organization of Petroleum Exporting Countries and other oil and gas producers, war and unrest in
oil producing countries and regions, regional production patterns and environmental concerns and regulations. Because we do not
intend to hedge our fuel costs, an increase in the price of fuel beyond our expectations may adversely affect our profitability,
cash flows and ability to pay dividends. However, all of our vessels are employed on time charter contracts, where the fuel costs
are assumed by our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Inflation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not expect inflation to be a significant
risk to us in the current and foreseeable economic environment. In the event that inflation becomes a significant factor in the
global economy, inflationary pressures would result in increased operating, voyage and finance costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_015"></A><B>Item 12.&nbsp;&nbsp;Description
of Securities Other than Equity Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 111; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_016"></A><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_017"></A><B>Item 13.&nbsp;&nbsp;Defaults,
Dividend Arrearages and Delinquencies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As described within &ldquo;Item 5.B Liquidity
and Capital Resources&mdash;Indebtedness&rdquo;, we are in breach of covenants included within the Hamburg Commercial Loan Agreement
which require the vessel owning companies and Globus to ensure:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The
                                         ratio of Globus&rsquo;s total liabilities to its market adjusted total assets shall always
                                         be not higher than 0.75:1.00. As of December 31, 2018, this ratio was 0.77, therefore
                                         this covenant was not satisfied.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Globus
                                         to maintain a minimum market adjusted net worth of more than or equal to $30.0 million.
                                         As of December 31, 2018, Globus had a net worth of approximately $13.6 million, $16.4
                                         million less than the initial requirement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The
                                         vessel owning subsidiaries must each maintain a minimum liquidity of $250,000 in an account
                                         pledged to the bank. As of December 31, 2018, this covenant was not satisfied.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Globus
                                         shall maintain a minimum liquidity of greater than 5% of its consolidated indebtedness,
                                         except during the period from June 3, 2016 ending March 3, 2018 during which this requirement
                                         was waived. As of December 31, 2018, Globus had approximately 0.1% of its consolidated
                                         indebtedness.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The change in Georgios Feidakis&rsquo;s ultimate
beneficial ownership or control of the Company on December 10, 2018 below 50% (44.3% as of December 31, 2018) also constitutes
an event of default under the Hamburg Commercial Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These breaches constitute an Event of Default
under the Hamburg Commercial Loan Agreement. The Hamburg Commercial Loan Agreement contains a cross-default provisions, which
means that, notwithstanding that we are in compliance with all other provisions under these agreements, we are in default thereunder
as well. Accordingly, lenders can elect to declare the outstanding debt, together with accrued interest and other fees, to be
immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially all
of our assets. As of the date of issuance of these consolidated financial statements no such action had been taken by the lenders
against us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Convertible Note also contains a cross-default
provision that is triggered upon a material default or an event of default under an existing agreement which would or is likely
to have a material adverse effect on the Company or any of its subsidiaries, individually or in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_018"></A><B>Item 14.&nbsp;&nbsp;Material
Modifications to the Rights of Security Holders and Use of Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_019"></A><B>Item 15.&nbsp;&nbsp;Controls
and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>(a) Disclosure Controls and Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management, including our chief executive
officer and chief financial officer, has conducted an evaluation of the effectiveness of our disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange
Act) as of the end of the period covered by this annual report on Form 20-F. Disclosure controls and procedures are defined under
SEC rules as controls and other procedures that are designed to ensure that information required to be disclosed by a company
in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported
within required time periods. Disclosure controls and procedures include controls and procedures designed to ensure that information
is accumulated and communicated to the issuer&rsquo;s management, including its principal executive and principal financial officers,
or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 112; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are inherent limitations to the effectiveness
of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding
of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance
of achieving their control objectives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based upon that evaluation, our chief executive
officer and chief financial officer has concluded that our disclosure controls and procedures are effective as of the evaluation
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>(b) Management&rsquo;s Annual Report
on Internal Control over Financial Reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management is responsible for establishing
and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange
Act. The Company&rsquo;s internal control over financial reporting is a process designed under the supervision of the Company&rsquo;s
chief executive officer and chief financial officer to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of the Company&rsquo;s consolidated financial statements for external reporting purposes in accordance with
IFRS as issued by the IASB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management has conducted an assessment of
the effectiveness of the Company&rsquo;s internal control over financial reporting based on the framework established in Internal
Control &ndash; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission of 2013. Based
on this assessment, management has determined that the Company&rsquo;s internal control over financial reporting as of December
31, 2018 is effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>(c)&nbsp;&nbsp;Attestation Report of
the Registered Public Accounting Firm</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This annual report does not include an attestation
report of the Company&rsquo;s registered public accounting firm regarding internal control over financial reporting. Management&rsquo;s
report was not subject to attestation by the Company&rsquo;s registered public accounting firm pursuant to the rules of the SEC
that permit the Company to provide only management&rsquo;s report in this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>(d) Changes in Internal Control over
Financial Reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Inherent Limitations on Effectiveness of
Controls</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our management, including our chief executive
officer and our chief financial officer, do not expect that our disclosure controls or our internal control over financial reporting
will prevent or detect all error and all fraud. A control system, no matter how well designed and operated, can provide only reasonable,
not absolute, assurance that the control system&rsquo;s objectives will be met. Further, because of the inherent limitations in
all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not
occur or that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations
include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or
mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or by management
override of the controls. The design of any system of controls is based in part on certain assumptions about the likelihood of
future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future
conditions. Projections of any evaluation of controls effectiveness to future periods are subject to risks. Over time, controls
may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_020"></A><B>Item 16A.&nbsp;&nbsp;Audit
Committee Financial Expert</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board of directors has determined that
Ioannis Kazantzidis is our audit committee financial expert and he is considered to be &ldquo;independent&rdquo; according to
the SEC and Nasdaq rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_021"></A><B>Item 16B.&nbsp;&nbsp;Code
of Ethics</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have adopted a code of ethics that applies
to our directors, officers and employees. Our code of ethics is posted on our website and is available upon written request by
our shareholders at no cost to Globus Shipmanagement Corp., 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Athens, Greece.
We intend to satisfy any disclosure requirements regarding any amendment to, or waiver from, a provision of this Code of Ethics
by posting such information on our website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 113; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_022"></A><B>Item 16C.&nbsp;&nbsp;Principal
Accountant Fees and Services</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ernst &amp; Young (Hellas) Certified Auditors
Accountants S.A., an independent registered public accounting firm, has audited our annual financial statements acting as our
independent auditor for the fiscal years ended December 31, 2018 and 2017. This table below sets forth the total (actual) amounts
billed and accrued for Ernst &amp; Young services and breaks down the amounts by category of services:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom">2018</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom">2017</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; vertical-align: bottom">Audit Fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right; vertical-align: bottom">$</TD><TD STYLE="width: 12%; text-align: right; vertical-align: bottom">103,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right; vertical-align: bottom">$</TD><TD STYLE="width: 12%; text-align: right; vertical-align: bottom">101,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">Audit-Related Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">Tax Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">All Other Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">$</TD><TD STYLE="text-align: right; vertical-align: bottom">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">$</TD><TD STYLE="text-align: right; vertical-align: bottom">4,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">$</TD><TD STYLE="text-align: right; vertical-align: bottom">108,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">$</TD><TD STYLE="text-align: right; vertical-align: bottom">105,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Audit fees for the years ended December 31,
2018 and 2017 were paid in Euros, and we assume an exchange rate of 0.85&euro;/$ and 0.88&euro;/$ for 2018 and 2017, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Audit fees represent compensation for professional
services rendered for the audit of the consolidated financial statements and for the review of the quarterly financial information
as well as services in connection with the registration statements and related consents and comfort letters and any other audit
services required for SEC or other regulatory filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Audit Committee is responsible for the
appointment, replacement, compensation, evaluation and oversight of the work of the independent auditors. As part of this responsibility,
the Audit Committee pre-approves the audit and non-audit services performed by the independent auditors in order to assure that
they do not impair the auditor&rsquo;s independence from the Company. The Audit Committee has adopted a policy which sets forth
the procedures and the conditions pursuant to which services proposed to be performed by the independent auditors may be pre-approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_023"></A><B>Item 16D.&nbsp;&nbsp;Exemptions
from the Listing Standards for Audit Committees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our audit committee is comprised of two independent
members of our board of directors. Otherwise, our Audit Committee conforms to each other requirement applicable to audit committees
as required by the applicable corporate governance standards of Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_024"></A><B>Item 16E.&nbsp;&nbsp;Purchases
of Equity Securities by the Issuer and Affiliated Purchasers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_025"></A><B>Item 16F.&nbsp;&nbsp;Change
in Registrant&rsquo;s Certifying Accountant</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_026"></A><B>Item 16G.&nbsp;&nbsp;Corporate
Governance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In lieu of obtaining an independent review
of related party transactions for conflicts of interests, consistent with Marshall Islands law requirements, a related party transaction
will be permitted if: (i) the material facts as to such director&rsquo;s interest in such contract or transaction and as to any
such common directorship, officership or financial interest are disclosed in good faith or known to the board or committee, and
the board or committee approves such contract or transaction by a vote sufficient for such purpose without counting the vote of
such interested director, or, if the votes of the disinterested directors are insufficient to constitute an act of the board,
by unanimous vote of the disinterested directors; or (ii) if the material facts as to such director&rsquo;s interest in such contract
or transaction and as to any such common directorship, officership or financial interest are disclosed in good faith or known
to the shareholders entitled to vote thereon, and such contract or transaction is approved by vote of such shareholders. Article
VI of our articles of incorporation further limit our ability to enter into business transactions with interested shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 114; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a foreign private issuer, we are not required
to solicit proxies or provide proxy statements to Nasdaq pursuant to Nasdaq corporate governance rules or Marshall Islands law.
Consistent with Marshall Islands law, we will notify our shareholders of meetings between 15 and 60 days before the meeting. This
notification will contain, among other things, information regarding business to be transacted at the meeting. In addition, our
bylaws provide that certain shareholders must give us advance notice to properly introduce any business at a meeting of the shareholders.
Our bylaws also provide that shareholders may designate in writing a proxy to act on their behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While a number of the Nasdaq&rsquo;s corporate
governance standards do not apply to us as a foreign private issuer, we intend to comply with a number of those rules. The practices
that we will follow in lieu of Nasdaq&rsquo;s corporate governance rules are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         lieu of a nomination committee and remuneration committee comprised entirely of independent
                                         directors, our nomination and remuneration committees are and will be comprised of a
                                         majority of independent directors. Each of these committees will be comprised of a minimum
                                         of two individuals;</FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         lieu of holding regularly scheduled meetings of the board of directors at which only
                                         independent directors are present, we will not be holding such regularly scheduled meetings;</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in lieu of a board of directors that is comprised by a majority
    of independent directors, our board of directors is not comprised of a majority of independent directors; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify">in
                                         lieu of an audit committee comprised of three independent directors, our audit committee
                                         has two members;</TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         lieu of having a remuneration committee with the authorities and responsibilities set
                                         forth in the Nasdaq rules, our remuneration committee is not required to have such authorities
                                         and responsibilities; and</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         lieu of obtaining shareholder approval prior to the issuance of securities (including
                                         adoption of any equity incentive plan), we will comply with provisions of the BCA, which
                                         allows the board of directors to approve all share issuances.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_027"></A><B>Item 16H.&nbsp;&nbsp;Mining
Safety Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_028"></A><B>PART III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_029"></A><B>Item 17.&nbsp;&nbsp;Financial
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See Item 18.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_030"></A><B>Item 18.&nbsp;&nbsp;Financial
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following consolidated financial statements
beginning on page F-1 are filed as a part of this annual report on Form 20-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_031"></A><B>Item 19.&nbsp;&nbsp;Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Articles
    of Incorporation of Globus Maritime Limited (incorporated by reference to Exhibit 3.1 to Amendment No. 1 to Globus Maritime
    Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 24, 2010)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Bylaws
    of Globus Maritime Limited (incorporated by reference to Exhibit 3.2 to Amendment No. 1 to Globus Maritime Limited&rsquo;s
    Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 24, 2010) </FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 115; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: left; width: 10%; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420412024331/v310668_ex1-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.3</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420412024331/v310668_ex1-3.htm" STYLE="-sec-extract: exhibit">Certificate
        of Designation for Series A Preferred Stock of Globus Maritime Limited (incorporated by reference to Exhibit 1.3 to Globus
        Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 27, 2012)</A></P></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex1-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex1-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Articles
    of Amendment of the Articles of Incorporation of Globus Maritime Limited, dated October 17, 2016 (incorporated by reference
    to Exhibit 1.4 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 11, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="tv517220_ex1-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.5*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><A HREF="tv517220_ex1-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Articles of Amendment of the Articles of
    Incorporation of Globus Maritime Limited, dated October 11, 2018</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Credit
    Facility between Credit Suisse and Global Maritime Limited, as supplemented (incorporated by reference to Exhibit 10.1 to
    Globus Maritime Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 22, 2010)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Loan
    Agreement between Deutsche Schiffsbank Aktiengesellschaft and Kelty Marine Ltd. (incorporated by reference to Exhibit 10.2
    to Globus Maritime Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 22, 2010)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410062761/v202966_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Business
    Opportunities Agreement between Globus Maritime Limited and Georgios Feidakis (incorporated by reference to Exhibit 10.4 to
    Globus Maritime Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 22, 2010)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416136578/v453943_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416136578/v453943_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Registration
    Rights Agreement between Globus Maritime Limited and Firment Trading Limited (incorporated by reference to Exhibit 99.1 to
    Globus Maritime Limited&rsquo;s Current Report on Form 6-K (Reg. No. 001-34985) filed on November 27, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411026981/v221485_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.5</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411026981/v221485_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Sixth
    Supplemental Agreement to Facility Agreement, dated May 5, 2011 (incorporated by reference to Exhibit 99.1 to Globus Maritime
    Limited&rsquo;s Current Report on Form 6-K (Reg. No. 001-34985) filed on May 9, 2011)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.6</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Globus
    Maritime Limited 2012 Equity Incentive Plan amended August 12, 2016 and April 9, 2017 (incorporated by reference to Exhibit
    4.7 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 11, 2017)</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411037028/v226558_ex10-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.7</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411037028/v226558_ex10-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Loan
    Agreement among DVB Bank SE, Artful Shipping S.A. and Longevity Maritime Limited (previously filed as Exhibit 10.10 to Amendment
    No. 3 to the Registration Statement on Form F-1 (Reg. No. 333-174290) filed on June 22, 2011)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.8</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Supplemental
    Agreement to Loan Agreement among DVB Bank SE, Artful Shipping S.A. and Longevity Maritime Limited, dated March 1, 2012 (incorporated
    by reference to Exhibit 4.10 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April
    30, 2013)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.9</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Second
    Supplemental Agreement to Loan Agreement among DVB Bank SE, Artful Shipping S.A. and Longevity Maritime Limited, dated April
    10, 2013 (incorporated by reference to Exhibit 4.11 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No.
    001-34985) filed on April 30, 2013)</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 116; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: left; width: 10%; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.10</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 89%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420413024896/v342601_ex4-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Seventh
    Supplemental Agreement to Facility Agreement, dated March 26, 2013 (incorporated by reference to Exhibit 4.12 to Globus Maritime
    Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 30, 2013)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420414025704/v375937_ex4-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.11</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420414025704/v375937_ex4-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Revolving
    Credit Facility between Globus Maritime Limited and Firment Trading Limited, dated December 16, 2013 (incorporated by reference
    to Exhibit 4.11 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 29, 2014)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.12</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Third
    Supplemental Agreement to Loan Agreement among DVB Bank SE, Artful Shipping S.A., Longevity Maritime Limited, Globus Maritime
    Limited and Globus Shipmanagement Corp. dated February 20, 2015 (incorporated by reference to Exhibit 4.12 to Globus Maritime
    Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 30, 2015)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.13</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Eighth
    Supplemental Agreement to Facility Agreement, dated August 14, 2014 (incorporated by reference to Exhibit 4.13 to Globus Maritime
    Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 30, 2015)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.14</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Ninth
    Supplemental Agreement to Facility Agreement, dated February 25, 2015 (incorporated by reference to Exhibit 4.14 to Globus
    Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 30, 2015)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-15.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.15</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-15.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Facility
    Agreement among Devocean Maritime Ltd., Domina Maritime Ltd., Dulac Maritime S.A., HSH Nordbank AG and Globus Maritime Limited,
    dated February 27, 2015 (incorporated by reference to Exhibit 4.15 to Globus Maritime Limited&rsquo;s Annual Report on Form
    20-F (Reg. No. 001-34985) filed on April 30, 2015)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.16</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420415026283/v408111_ex4-16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">First
    Supplemental Agreement to Revolving Credit Facility between Globus Maritime Limited and Firment Trading Limited, dated April
    28, 2015 (incorporated by reference to Exhibit 4.16 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No.
    001-34985) filed on April 30, 2015)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-17.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.17</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-17.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Second
    Supplemental Agreement to the Revolving Credit Facility Agreement between Globus Maritime Limited and Firment Trading Limited
    dated December 29, 2015 (incorporated by reference to Exhibit 4.17 to Globus Maritime Limited&rsquo;s Annual Report on Form
    20-F (Reg. No. 001-34985) filed on April 29, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-18.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.18</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-18.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Third
    Supplemental Agreement &ndash; Assignment to the Revolving Credit Facility Agreement between Globus Maritime Limited, Firment
    Trading Limited, a Cypriot company, and Firment Trading Limited, a Marshall Islands corporation, dated December 31, 2015 (incorporated
    by reference to Exhibit 4.18 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April
    29, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-19.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.19</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-19.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Agreement
    for a Revolving Credit Facility dated January 12, 2016 between Globus Maritime Limited and Silaner Investments Limited&nbsp;&nbsp;(incorporated
    by reference to Exhibit 4.19 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April
    29, 2016)</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 117; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->117<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: left; width: 10%; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-20.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.20</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 89%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-20.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Settlement
    Agreement among Commerzbank Aktiengesellschaft, Kelty Marine Ltd. and Globus Maritime Limited dated March 21, 2016&nbsp;&nbsp;(incorporated
    by reference to Exhibit 4.20 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April
    29, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-21.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.21</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex4-21.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Fourth
    Supplemental Agreement to Loan Agreement among DVB Bank SE, Artful Shipping S.A., Longevity Maritime Limited, Globus Maritime
    Limited and Globus Shipmanagement Corp. dated April 18, 2016&nbsp;&nbsp;(incorporated by reference to Exhibit 4.21 to Globus
    Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 29, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-23.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.22</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-23.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Private
    Sublease Agreement dated January 2, 2016 between Globus Maritime Limited and Cyberonica S.A. (incorporated by reference to
    Exhibit 4.23 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 11, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.23</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Share
    and Warrant Purchase Agreement dated February 8, 2017 between Globus Maritime Limited and the Purchasers listed on Schedule
    A thereto (incorporated by reference to Exhibit 10.1 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished
    on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.24</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Registration
    Rights Agreement between Globus Maritime Limited and the Purchasers dated February 9, 2017 (incorporated by reference to Exhibit
    10.2 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.25</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    to Loan Agreement dated February 8, 2017 between Globus Maritime Limited and Firment Trading Limited (incorporated by reference
    to Exhibit 10.3 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February
    9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.26</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    to Loan Agreement dated February 8, 2017 between Globus Maritime Limited and Silaner Investments Limited (incorporated by
    reference to Exhibit 10.4 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished
    on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.27</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form
    of Warrant issued to each Purchaser (incorporated by reference to Exhibit 10.5 to Globus Maritime Limited&rsquo;s Report on
    Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.28</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Warrant
    dated February 8, 2017 issued to nominee of Firment Trading Limited (incorporated by reference to Exhibit 10.6 to Globus Maritime
    Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.29</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Warrant
    dated February 8, 2017 issued to nominee of Silaner Investments Limited (incorporated by reference to Exhibit 10.7 to Globus
    Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February 9, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-8.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.30</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-8.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Schedule
    to Exhibit 4.27 (Regarding Material Differences in Issued Warrants) (incorporated by reference to Exhibit 10.8 to Globus Maritime
    Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on February 9, 2017)</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 118; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: left; width: 11%; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-32.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.31</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 89%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex4-32.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Supplemental
    Agreement relating to a loan of up to US$30,000,000 to Devocean Maritime Ltd., Domina Maritime Ltd., and Dulac Maritime S.A.,
    arranged by HSH Nordbank AG, with HSH Nordbank AG as Agent, HSH Nordbank AG as Security Agent, guaranteed by Globus Maritime
    Limited, dated December 5, 2016 (incorporated by reference to Exhibit 4.32 to Globus Maritime Limited&rsquo;s Annual Report
    on Form 20-F (Reg. No. 001-34985) filed on April 11, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.32</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-1.htm" STYLE="-sec-extract: exhibit">
    <FONT STYLE="font-size: 10pt">Share and Warrant Purchase Agreement dated October 19, 2017 between Globus Maritime Limited
    and &nbsp;the Purchaser listed on Schedule A thereto (incorporated by reference to Exhibit 10.1 to Globus Maritime Limited&rsquo;s
    Report on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on October&nbsp;&nbsp;19, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.33</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Registration
    Rights Agreement between Globus Maritime Limited and the Purchaser dated October 19, 2017 (incorporated by reference to Exhibit
    10.2 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on October 19, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.34</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417053251/tv477236_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Warrant
    issued to United Capital Investments Corp. (incorporated by reference to Exhibit 10.3 to Globus Maritime Limited&rsquo;s Report
    on Form 6-K (Reg. No. 001-34985)&nbsp;&nbsp;furnished on October&nbsp;&nbsp;19, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417063970/tv481128_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.35</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417063970/tv481128_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Fifth
    Supplemental Agreement to Loan Agreement among DVB Bank SE, Artful Shipping S.A., Longevity Maritime Limited, Globus Maritime
    Limited and Globus Shipmanagement Corp., dated June 23, 2017 (incorporated by reference to Exhibit 10.1 to Globus Maritime
    Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on December 15, 2017)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417063970/tv481128_ex10-2.htm" STYLE="-sec-extract: exhibit">4.36</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><P STYLE="margin: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417063970/tv481128_ex10-2.htm" STYLE="-sec-extract: exhibit">Second
                                         Supplemental Agreement relating to a loan of up to US$30,000,000 to Devocean Maritime
                                         Ltd., Domina Maritime Ltd., and Dulac Maritime S.A., arranged by HSH Nordbank AG, with
                                         HSH Nordbank AG as Agent, HSH Nordbank AG as Security Agent, guaranteed by Globus Maritime
                                         Limited, dated July 10, 2017 (incorporated by reference to Exhibit 10.2 to Globus Maritime
                                         Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on December 15, 2017)</A></P>


</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420418061509/tv507821_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.37</FONT></A></TD>
    <TD STYLE="vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420418061509/tv507821_ex99-2.htm" STYLE="-sec-extract: exhibit">Agreement
        with Firment Shipping Inc. for a Revolving Credit Facility of up to US Dollars $15,000,000 dated November 21, 2018 (incorporated
        by reference to Exhibit 99.2 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on November
        26, 2018)</A></P></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419006632/tv513233_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.38</FONT></A></TD>
    <TD STYLE="vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419006632/tv513233_ex99-1.htm" STYLE="-sec-extract: exhibit">Term
        Loan Facility of Artful Shipholding S.A. and Longevity Maritime Limited with Macquarie Bank International Limited of up
        to US Dollars $13,500,000, guaranteed by Globus Maritime Limited, dated December 10, 2018 (incorporated by reference to
        Exhibit 99.1 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on February 12, 2019)</A></P></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.39</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-1.htm" STYLE="-sec-extract: exhibit">Securities
    Purchase Agreement dated March 13, 2019 between Globus Maritime Limited and&nbsp;the investors listed on the Schedule of Buyers
    thereto (incorporated by reference to Exhibit 10.1 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985)
    furnished on March 13, 2019</A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.40</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Registration
    Rights Agreement between Globus Maritime Limited and the Undersigned Buyers dated March 13, 2019 (incorporated by reference
    to Exhibit 10.2 to Globus Maritime Limited&rsquo;s Report on Form 6-K (Reg. No. 001-34985) furnished on March 13, 2019)</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 119; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: left; width: 11%; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.41</FONT></A></TD>
    <TD STYLE="text-align: justify; width: 89%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419013710/tv515993_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Senior
    Convertible Note issued on March 13, 2019 (incorporated by reference to Exhibit 10.3 to Globus Maritime Limited&rsquo;s
    Report on     Form 6-K (Reg. No. 001-34985) furnished on March 13, 2019)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="tv517220_ex4-42.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.42*</FONT></A></TD>
    <TD STYLE="text-align: justify"><A HREF="tv517220_ex4-42.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment No. 1 dated March 21, 2019 to Securities Purchase
    Agreement between Globus Maritime Limited and&nbsp;the Buyer.</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex8-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">8.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420416097396/v437835_ex8-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Subsidiaries
    of Globus Maritime Limited (incorporated by reference to Exhibit 4.20 to Globus Maritime Limited&rsquo;s Annual Report on
    Form 20-F (Reg. No. 001-34985) filed on April 29, 2016)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411017498/v216015_ex11-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">11.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420411017498/v216015_ex11-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Code
    of Ethics &amp; Conduct of Globus Maritime Limited (incorporated by reference to Exhibit 11.1 to Globus Maritime Limited&rsquo;s
    Annual Report on Form 20-F (Reg. No. 001-34985) filed on March 28, 2011)</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="tv517220_ex12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">12.1/12.2*</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="tv517220_ex12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certification
    pursuant to section 302 of the Sarbanes-Oxley Act of 2002 of the President, Chief Executive Officer and Chief Financial Officer</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="tv517220_ex13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">13.1/13.2*</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="tv517220_ex13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certification
    pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of the President,
    Chief Executive Officer and Chief Financial Officer</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="tv517220_ex15-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">15.1*</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><A HREF="tv517220_ex15-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Independent Registered Public
    Accounting Firm (Ernst &amp; Young (Hellas) Certified Auditors Accountants S.A.</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">101*</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">The following materials from the Company's
    Annual Report on Form 20-F for the fiscal year ended December 31, 2018, formatted in eXtensible Business Reporting Language
    (XBRL): (i) Consolidated Balance Sheets as of December 31, 2017 and 2018; (ii) Consolidated Statements of Operations for the
    years ended December 31, 2016, 2017 and 2018; (iii) Consolidated Statements of Comprehensive Income/(Loss) for the years ended
    December 31, 2016, 2017 and 2018; (iv) Consolidated Statements of Stockholders' Equity for the years ended December 31, 2016,
    2017 and 2018; (v) Consolidated Statements of Cash Flows for the years ended December 31, 2016, 2017 and 2018; and (vi) the
    Notes to Consolidated Financial Statements.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>* Filed herewith.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 120; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">The registrant hereby certifies that it meets
all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual
report on its behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>GLOBUS MARITIME LIMITED</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 13.05pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp; /s/ Athanasios Feidakis</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">Name:</TD>
    <TD STYLE="width: 38%">Athanasios Feidakis</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.85pt; text-indent: -35.85pt">Title:</P></TD>
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">President, Chief
                                 Executive Officer and<BR>
                                 Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: March 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 121 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FOR THE YEAR ENDED DECEMBER 31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="fin_007"></A>INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><A HREF="#fin_001"><FONT STYLE="font-size: 10pt">Report of Independent Registered Public Accounting Firm</FONT></A></TD>
    <TD STYLE="width: 10%; text-align: right"><A HREF="#fin_001"><FONT STYLE="font-size: 10pt">F-2</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_002"><FONT STYLE="font-size: 10pt">Consolidated Statement of Comprehensive Loss</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_002"><FONT STYLE="font-size: 10pt">F-3</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_003"><FONT STYLE="font-size: 10pt">Consolidated Statement of Financial Position</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_003"><FONT STYLE="font-size: 10pt">F-4</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_004"><FONT STYLE="font-size: 10pt">Consolidated Statement of Changes in Equity</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_004"><FONT STYLE="font-size: 10pt">F-5</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_005"><FONT STYLE="font-size: 10pt">Consolidated Statement of Cash Flows</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_005"><FONT STYLE="font-size: 10pt">F-6</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_006"><FONT STYLE="font-size: 10pt">Notes to the Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#fin_006"><FONT STYLE="font-size: 10pt">F-7 to F-38</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.2pt; text-align: center"><B><A NAME="fin_001"></A>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.2pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To the Shareholders and the Board of Directors of Globus Maritime
Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying
consolidated statements of financial position of Globus Maritime Limited (the Company) as of December 31, 2018 and 2017, and
the related consolidated statements of comprehensive loss, changes in equity and cash flows for each of the three years in
the period ended December 31, 2018, and the related notes (collectively referred to as the &ldquo;consolidated financial
statements&quot;). In our opinion, the consolidated financial statements present fairly, in all material respects, the
financial position of the Company at December 31, 2018 and 2017, and the results of its operations and its cash flows for
each of the three years in the period ended December 31, 2018, in conformity with International Financial Reporting Standards
as issued by the International Accounting Standards Board (IASB).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Company's Ability to Continue as a Going
Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial
statements, as at December 31, 2018 and for the year then ended, the Company has incurred a net loss from operations, has a working
capital deficiency and has stated that substantial doubt exists about the Company&rsquo;s ability to continue as a going concern.
In addition, based on its projections, the Company (i) may not be able to comply with certain covenants of loan agreements with
banks without obtaining waivers and, (ii) refinance one of its loans maturing in 2019, therefore, it may not be able to meet its
debt obligations as they become due in the twelve-month period ending following the issuance of these consolidated financial statements.
Management's evaluation of the events and conditions and management&rsquo;s plans regarding these matters are also described in
Note 2. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome
of this uncertainty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and
are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required
to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our audits included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/s/ Ernst &amp; Young (Hellas) Certified Auditors
Accountants S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have served as the Company&rsquo;s auditor
since 2007.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">March 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B><A NAME="fin_002"></A>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>For the year ended December
31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>(Expressed in thousands of
U.S. Dollars, except share and per share)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Notes</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">REVENUE:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left; padding-left: 0.125in">Voyage revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">17,354</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">13,852</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">8,423</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Management and consulting fee income</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">4</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">278</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Total Revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,354</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,883</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,701</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">EXPENSES &amp; OTHER OPERATING INCOME:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Voyage expenses</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">14</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,188</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,352</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(954</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Vessel operating expenses</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">14</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,925</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,135</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,688</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in">Depreciation</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,601</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,854</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,014</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Depreciation of dry docking costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,166</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(862</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,005</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Administrative expenses</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">15</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,356</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,224</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,094</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Administrative expenses payable to related parties</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(528</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(514</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(351</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Share-based payments</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(50</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Gain from sale of subsidiary</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">12</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,257</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Other (expenses)/income, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">83</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(30</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0.125in">Operating loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(1,448</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(4,015</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(7,228</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Interest expense and finance costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">16</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,056</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,221</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,676</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Loss on derivative financial instruments</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">12</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(131</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Foreign exchange gains/(losses), net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">67</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(242</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">74</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt">TOTAL LOSS FOR THE YEAR</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(3,568</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(6,475</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(9,825</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other Comprehensive Income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(3,568</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(6,475</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(9,825</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Loss per share (U.S.$):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">- Basic and Diluted loss per share for the year</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">11</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.11</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.51</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37.73</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part
of these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B><A NAME="fin_003"></A>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>As at December 31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>(Expressed in thousands of
U.S. Dollars)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: left"></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notes</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2017</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>ASSETS<BR>
</U></B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NON-CURRENT
    ASSETS</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; width: 61%; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vessels,
    net</FONT></TD><TD STYLE="width: 1%; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD><TD STYLE="width: 1%; font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">83,750</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">87,320</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Office
    furniture and equipment</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">120</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
    non-current assets</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    non-current assets</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">83,880</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">87,373</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CURRENT
    ASSETS</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trade
    accounts receivable</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">577</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">177</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Inventories</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">650</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">661</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Prepayments
    and other assets</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">171</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">426</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Restricted
    cash</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,350</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">210</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash
    and cash equivalents</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,756</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    current assets</B></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,794</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,230</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TOTAL
    ASSETS</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86,674</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91,603</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">EQUITY
    AND LIABILITIES</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">EQUITY</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Issued
    share capital</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Share
    premium</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">140,334</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">139,684</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accumulated
    deficit</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(99,297</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(95,729</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    equity</B></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41,050</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43,968</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NON-CURRENT
    LIABILITIES</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long-term
    borrowings, net of current portion</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,12</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fair
    value of derivative financial instruments</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">831</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Provision
    for staff retirement indemnities</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">87</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    non-current liabilities</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,418</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CURRENT
    LIABILITIES</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current
    portion of long-term borrowings</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35,368</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41,538</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trade
    accounts payable</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,8</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,433</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,258</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accrued
    liabilities and other payables</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,319</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,455</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred
    revenue</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">302</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    current liabilities</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43,206</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47,553</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TOTAL
    LIABILITIES</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45,624</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47,635</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TOTAL
    EQUITY AND LIABILITIES</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86,674</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91,603</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part
of these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B><A NAME="fin_004"></A>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>For the year ended December
31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>(Expressed in thousands of
U.S. Dollars)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Issued Share</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Share</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">(Accumulated</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Total</TD><TD NOWRAP STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Capital</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Premium</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Deficit)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Equity</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; font-weight: bold; text-align: justify; padding-bottom: 1pt">As at January 1, 2016</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">109,963</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(79,429</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">30,535</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Loss for the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,825</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,825</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Total comprehensive loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(9,825</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(9,825</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Share-based payments (note 13)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">50</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">50</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">As at December 31, 2016</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">110,013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(89,254</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">20,760</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Loss for the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,475</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,475</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Total comprehensive loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(6,475</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(6,475</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Share-based payments (note 13)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Issuance of common shares (note 10)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,271</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,282</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issuance of common stock due to exercise of warrants (note 10)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,370</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,371</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">As at December 31, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">139,684</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(95,729</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">43,968</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Loss for the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,568</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,568</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Total comprehensive loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(3,568</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(3,568</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Share-based payments (note 13)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issuance of common stock due to exercise of warrants (note 10)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">600</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">600</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">As at December 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">140,334</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(99,297</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">41,050</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part
of these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B><A NAME="fin_005"></A>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>CONSOLIDATED STATEMENTS OF
CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>For the year ended December
31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>(Expressed in thousands of
U.S. Dollars)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Notes</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: justify">Loss for the year</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(3,568</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(6,475</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(9,825</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Adjustments for:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Depreciation</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,601</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,854</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,014</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Depreciation of deferred dry docking costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,005</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Payment of deferred dry docking costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,204</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(412</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(478</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Gain from sale of subsidiary</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">12</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,257</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Provision for staff retirement indemnities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Loss on derivative financial instruments</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">12</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Interest expense and finance costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">16</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,056</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,221</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,676</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Foreign exchange gains, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(81</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">181</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Share based payment</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">13</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">(Increase)/decrease in:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Trade accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(400</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(270</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(145</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(161</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Prepayments and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">255</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">591</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(232</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Increase/(decrease) in:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Trade accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,303</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(499</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">746</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Accrued liabilities and other payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(258</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(726</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">141</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Deferred revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(216</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">82</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">49</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Net cash generated from/(used in) operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,851</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">631</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,600</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Cash flows from investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Net proceeds from sale of vessel/subsidiary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">374</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Purchase of vessel equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(245</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Purchases of office furniture and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(100</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(21</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Interest received</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Net cash (used in)/generated from investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(126</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(263</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">362</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Cash flows from financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Proceeds from loans</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">12,4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,700</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">280</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,950</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Repayment of long-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,497</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,399</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,100</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Proceeds from issuance of share capital</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">10</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,653</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Pledged bank deposits</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,140</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">290</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Dividends paid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">17</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Payment of financing costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(203</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Interest paid</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,895</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,309</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,730</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Net cash generated (used in)/from financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(6,435</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,225</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,396</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Net (decrease)/increase in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(2,710</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,593</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(1,842</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cash and cash equivalents at the beginning of the year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,756</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">163</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,005</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Cash and cash equivalents at the end of the year</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: center">3</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">46</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,756</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">163</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying notes form an integral part
of these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><A NAME="fin_006"></A>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Basis of presentation and general information</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The accompanying
consolidated financial statements include the financial statements of <B><I>Globus Maritime Limited</I></B> (&ldquo;Globus&rdquo;)
and its wholly owned subsidiaries (collectively the &ldquo;Company&rdquo;). 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 (&ldquo;AIM&rdquo;). On November 24, 2010, Globus was redomiciled to the Marshall
Islands and its shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933,
as amended. On November 26, 2010, Globus shares were effectively delisted from AIM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The address of
the registered office of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The principal business
of the Company is the ownership and operation of a fleet of dry bulk motor vessels (&ldquo;m/v&rdquo;), providing maritime services
for the transportation of dry cargo products on a worldwide basis. The Company conducts its operations through its vessel owning
subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The operations
of the vessels are managed by Globus Shipmanagement Corp. (the &ldquo;Manager&rdquo;), a wholly owned Marshall Islands corporation.
The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical,
cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management
fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries
listed below, all wholly owned by Globus as of December 31, 2018:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="width: 37%; text-align: center; border-bottom: Black 1pt solid">Company</TD><TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center; border-bottom: Black 1pt solid">Country of<BR> Incorporation</TD><TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center; border-bottom: Black 1pt solid">Vessel Delivery<BR> Date</TD><TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center; border-bottom: Black 1pt solid">Vessel Owned</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Globus Shipmanagement Corp.</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Marshall Islands</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">-</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Management Co.</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Devocean Maritime Ltd.</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Marshall Islands</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">December 18, 2007</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">m/v River Globe</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Domina Maritime Ltd.</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Marshall Islands</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">May 19, 2010</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">m/v Sky Globe</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Dulac Maritime S.A.</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Marshall Islands</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">May 25, 2010</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">m/v Star Globe</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Artful Shipholding S.A.</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Marshall Islands</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">June 22, 2011</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">m/v Moon Globe</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 5pt; padding-bottom: 5pt">Longevity Maritime Limited</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">Malta</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">September 15, 2011</TD><TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-top: 5pt; padding-bottom: 5pt">m/v Sun Globe</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">On October 20,
2016, the Company effected a four-for-one reverse stock split which reduced number of outstanding common shares from 10,510,741
to 2,627,674 shares (adjustments were made based on fractional shares). On October 15, 2018, the Company effected a ten-for-one
reverse stock split which reduced number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were made
based on fractional shares). Unless otherwise noted, all historical share numbers and per share amounts have been adjusted to give
effect to these two reverse stock splits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Basis of presentation and general
information (continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The consolidated financial statements
as of December 31, 2018 and 2017 and for the three years in the period ended December 31, 2018, were approved for issuance by the
Board of Directors on March 26, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; color: blue"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: justify">Basis of Preparation and Significant Accounting Policies</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.1</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation: </B>The consolidated financial
statements have been prepared on a historical cost basis. The consolidated financial statements are presented in U.S. dollars
and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Going concern basis of accounting:
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018, the Company
was not in compliance with the loan covenants of the agreement with Hamburg Commercial Bank AG (previously known as HSH Nordbank
AG) which loan balance of $22.2 million matures through December 2019. The Company did not obtain waivers and the breached covenants
contained in this loan agreement constitute an event of default. In the event of default under the Hamburg Commercial Bank AG loan
agreement and, due to the cross-default provisions included in the agreement with Macquarie Bank International Limited, the Company&rsquo;s
lenders, Hamburg Commercial Bank AG and Macquarie Bank International Limited, can elect to declare the outstanding debt, together
with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt,
which can constitute all or substantially all of the Company&rsquo;s assets. Until the date of issuance of these consolidated financial
statements no such action has been taken by the lenders against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">Accordingly, as the Company did
not have an unconditional right to defer settlement of the outstanding loan with Macquarie Bank International Limited for at least
twelve months after the date of these consolidated financial statements and, as it has not refinanced the outstanding loan with
Hamburg Commercial Bank AG, the total balance of the loans outstanding to Macquarie Bank International Limited and to Hamburg Commercial
Bank AG aggregating to $35,368 at December 31, 2018, have been classified as current. As a result, as of December 31, 2018, the
Company reported a working capital deficit of $40,412.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">The Company&rsquo;s cash flow projections
indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs,
including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">The above conditions raise substantial
doubt about the entity's ability to continue as a going concern. The Company is exploring several alternatives aiming to manage
its working capital requirements and other commitments, including drawdown of additional funds available of $12,800 under the facility
with Firment Shipping Inc, if needed raising of additional debt and discussions with other financial institutions and private funds
to provide the Company with refinancing of the existing loans. In this respect, on March 13, 2019, the Company signed a securities
purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior convertible
note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par value $0.004
per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures
upon the anniversary of its issue. The Company will use part of the proceeds from the Convertible Note for general corporate purposes
and working capital including repayment of debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">Management expects that the lenders
will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan instalments and accumulated
interest as they fall due under the existing loan agreements. Management plans to settle loan interest and scheduled loan repayments
with cash at hand and cash expected to be generated from the operations and from financing activities. If for any reason the Company
is unable to continue as a going concern, this could have an impact on the Company&rsquo;s ability to realize assets at their
recognized values and to extinguish liabilities in the normal course of business at the amounts stated in these consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0in"><B>Statement
of Compliance: </B>These consolidated financial statements of the Company have been prepared in accordance with International Financial
Reporting Standards (&ldquo;IFRS&rdquo;) as issued by the International Accounting Standards Board (&ldquo;IASB&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B>Basis of Consolidation:</B>
The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial
statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Basis of Preparation and Significant Accounting Policies (continued)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.2</B></TD><TD STYLE="text-align: justify"><B>Standards amendments and interpretations:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">The accounting policies adopted
are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company
as of January 1, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 9 Financial Instruments: Classification and Measurement</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In July 2014, the IASB issued the
complete version of IFRS&nbsp;9 Financial Instruments. IFRS&nbsp;9 Financial Instruments specifies how an entity should classify
and measure financial assets and financial liabilities. The new standard requires all financial assets to be subsequently measured
at amortized cost or fair value depending on the business model of the legal entity in relation to the management of the financial
assets and the contractual cash flows of the financial assets. The standard also requires a financial liability to be classified
as either at fair value through profit or loss or at amortized cost. In addition, a new hedge accounting model was introduced,
that is designed to be more closely aligned with how entities undertake risk management activities when hedging financial and non-financial
risk exposures. The Company has elected to take the transition relief and not to restate prior periods with respect to classification
and measurement (including impairment). Accordingly, the information presented for 2017 has not been restated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company had no impact of transition
to IFRS 9 on the opening balance of accumulated deficit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 15 Revenue from Contracts with Customers </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">IFRS 15 establishes a five-step model
that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue
transaction or the industry. The standard&rsquo;s requirements will also apply to the recognition and measurement of gains and
losses on the sale of some non-financial assets that are not an output of the entity&rsquo;s ordinary activities (e.g., sales of
property, plant and equipment or intangibles). Extensive disclosures will be required, including disaggregation of total revenue;
information about performance obligations; changes in contract asset and liability account balances between periods and key judgments
and estimates. The Company elected to apply IFRS 15 fully retrospectively. The Company has assessed that this standard does not
have a material effect on its consolidated financial statements. In addition, pursuant to this standard, as of January 1, 2018,
the Company elected to present Voyage revenues net of address commissions. Address commissions represent a discount (sales incentive)
on services rendered by the Company and no identifiable benefit is received in exchange for this consideration provided to the
charterer. These commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive
loss. In this respect, for the year ended December 31, 2018, 2017 and 2016, Voyage revenues and Voyage expenses each decreased
by $668, $540 and $317, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 15: Revenue from Contracts with Customers (Clarifications)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The objective of the Clarifications
is to clarify the IASB&rsquo;s intentions when developing the requirements in IFRS 15 Revenue from Contracts with Customers, particularly
the accounting of identifying performance obligations amending the wording of the &ldquo;separately identifiable&rdquo; principle,
of principal versus agent considerations including the assessment of whether an entity is a principal or an agent as well as applications
of control principle and of licensing providing additional guidance for accounting of intellectual property and royalties. The
Clarifications also provide additional practical expedients for entities that either apply IFRS 15 fully retrospectively or that
elect to apply the modified retrospective approach. The Company has assessed that the adoption did not have a material effect on
its consolidated financial statements, other than additional disclosure requirements in the notes to the consolidated financial
statements, since the Company has chartered its vessels under time charter agreements, and in this respect revenue is accounted
under the leases standard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 2: Classification and Measurement of Share based Payment Transactions (Amendments)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Amendments provide requirements
on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments,
for share-based payment transactions with a net settlement feature for withholding tax obligations and for modifications to the
terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled.
The Company has assessed that these amendments have no impact on its financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRIC INTERPETATION 22: Foreign Currency Transactions and Advance Consideration</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Interpretation clarifies the
accounting for transactions that include the receipt or payment of advance consideration in a foreign currency. The Interpretation
covers foreign currency transactions when an entity recognizes a non-monetary asset or a non-monetary liability arising from the
payment or receipt of advance consideration before the entity recognizes the related asset, expense or income. The Interpretation
states that the date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of
the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, then the
entity must determine a date of the transactions for each payment or receipt of advance consideration. The Company has assessed
that this interpretation has no impact on its financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(Amounts presented in thousands of U.S. Dollars- except
for share, per share and warrants data, unless otherwise stated)</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: justify">Basis of Preparation and Significant Accounting Policies
(continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>Standards issued but
not yet effective and not early adopted:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The standards and interpretations
issued, but not yet effective, up to the date of issuance of the Company&rsquo;s consolidated financial statements are disclosed
below. The Company intends to adopt these standards, if applicable, when they become effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 16: Leases</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The standard is effective for annual
periods beginning on or after January 1, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and
disclosure of leases for both parties to a contract, i.e. the customer (&lsquo;lessee&rsquo;) and the supplier (&lsquo;lessor&rsquo;).
The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting
model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The standard is effective for annual
periods beginning on or after January 1, 2019. Early adoption is permitted for entities that apply IFRS 15 Revenue from Contracts
with Customers at or before the date of initial application of IFRS 16. The Company will adopt IFRS 16 as of January 1, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company expects that the most
significant impact will be that the Company will recognize new assets and liabilities for its operating leases as lessee (for office
rental).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company identified the rental
agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674
as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental
cost of borrowing In addition, the nature and recognition of expenses related to those leases will change as IFRS 16 replaces the
straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 308.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">For time charters that qualify as
leases, the Company will be 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. In order to prepare the future required disclosure,
the residual allocation method will be used. The Company will estimate the non-lease component as the cost of operating the vessels
by its technical department. The lease component to be disclosed then will be calculated as the difference between total revenue
and the non-lease component revenue. The Company does not expect the adoption of IFRS 16 to impact its ability to comply with the
loan covenants described in Note 12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>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</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The amendments address an acknowledged
inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between
an investor and its associate or joint venture. The main consequence of the amendments is that a full gain or loss is recognized
when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when
a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015
the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity
method of accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 9 Amendment: Prepayment features with negative compensation</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Amendment is effective for annual
reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendment allows financial assets
with prepayment features that permit or require a party to a contract either to pay or receive reasonable compensation for the
early termination of the contract (so that, from the perspective of the holder of the asset there may be &lsquo;negative compensation&rsquo;),
to be measured at amortized cost or at fair value through other comprehensive income. Management does not expect that these amendments
will have an impact on the Company&rsquo;s financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IAS 28 Amendments: Long-term Interests in Associates and Joint Ventures</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Amendments are effective for
annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendments relate to whether
the measurement, in particular impairment requirements, of long term interests in associates and joint ventures that, in substance,
form part of the &lsquo;net investment&rsquo; in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination
of both. The Amendments clarify that an entity applies IFRS 9 Financial Instruments, before it applies IAS 28, to such long-term
interests for which the equity method is not applied. In applying IFRS 9, the entity does not take account of any adjustments to
the carrying amount of long- term interests that arise from applying IAS 28. Management does not expect that these amendments will
have an impact on its financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: justify">Basis of Preparation and Significant Accounting Policies
(continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRIC INTERPETATION 23: Uncertainty over Income Tax Treatments </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Interpretation is effective for
annual periods beginning on or after January 1, 2019, with earlier application permitted. The Interpretation addresses the accounting
for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation provides guidance
on considering uncertain tax treatments separately or together, examination by tax authorities, the appropriate method to reflect
uncertainty and accounting for changes in facts and circumstances. The Company does not expect that this interpretation will have
an impact on the Company&rsquo;s financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IAS 19: Plan Amendment, Curtailment or Settlement (Amendments)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Amendments are effective for
annual periods beginning on or after January 1, 2019, with earlier application permitted. The amendments require entities to use
updated actuarial assumptions to determine current service cost and net interest for the remainder of the annual reporting period
after a plan amendment, curtailment or settlement has occurred. The amendments also clarify how the accounting for a plan amendment,
curtailment or settlement affects applying the asset ceiling requirements. Management does not expect that these amendments will
have an impact on the Company&rsquo;s financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 3: Business Combinations (Amendments)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The IASB issued amendments in Definition
of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired
a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the
first annual reporting period beginning on or after 1 January 2020 and to asset acquisitions that occur on or after the beginning
of that period, with earlier application permitted. Management does not expect that these amendments will have an impact on the
Company&rsquo;s financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting
Estimates and Errors: Definition of &lsquo;material&rsquo; (Amendments)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Amendments are effective for
annual periods beginning on or after January 1, 2020, with earlier application permitted. The Amendments clarify the definition
of material and how it should be applied. The new definition states that, &rsquo;Information is material if omitting, misstating
or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements
make on the basis of those financial statements, which provide financial information about a specific reporting entity&rsquo;.
In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of
material is consistent across all IFRS Standards. Management does not expect that these amendments will have an impact on the Company&rsquo;s
financial position or performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>The IASB has issued the Annual Improvements to IFRSs 2015 &ndash; 2017 Cycle</B>, which is a
collection of amendments to IFRSs. The amendments are effective for annual periods beginning on or after January 1, 2019, with
earlier application permitted. Management is in the process of assessing the impact of these Amendments on the Company&rsquo;s
financial position or performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><B>IFRS 3 Business Combinations and IFRS 11 Joint Arrangements</B>: The amendments to IFRS 3 clarify
that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business.
The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity
does not remeasure previously held interests in that business.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><B>IAS 12 Income Taxes</B>: The amendments clarify that the income tax consequences of payments
on financial instruments classified as equity should be recognized according to where the past transactions or events that generated
distributable profits has been recognized.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><B>IAS 23 Borrowing Costs</B>: The amendments clarify paragraph 14 of the standard that, when a
qualifying asset is ready for its intended use or sale, and some of the specific borrowing related to that qualifying asset remains
outstanding at that point, that borrowing is to be included in the funds that an entity borrows generally.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.3</B></TD><TD STYLE="text-align: justify"><B>Significant accounting policies, judgments, estimates
and assumptions:</B> The preparation of consolidated financial statements in conformity with IFRS requires management to make
judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during
the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that could require a
material adjustment to the carrying amount of the asset or liability affected in the future.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">Basis of Preparation and Significant Accounting Policies (continued)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0pt"><B>Judgments:
</B>In the process of applying the Company&rsquo;s accounting policies, management has made the following judgments that had a
significant effect on the amounts recognised in the consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>Allowance for doubtful trade accounts receivable: </I>Following adoption of IFRS 9 as of January
1, 2018, the Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected
credit loss (&ldquo;ECL&rdquo;) approach. When estimating ECLs, the Company considers reasonable and supportable information that
is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic
conditions. The application of the ECL requirements under IFRS 9 did not result in the recognition of an impairment charge under
the new impairment model. Provisions for doubtful trade accounts receivable as of December 31, 2018 and 2017 were $68 and $138,
respectively. No extra allowance for impairment over these receivables was recognized in opening accumulated deficit at January
1, 2018, on transition to IFRS 9.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B>Estimates and assumptions: </B>The
key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have
a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial
year, are discussed below. The Company based its assumptions and estimates on parameters available when the consolidated financial
statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes
or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>Carrying amount of vessels, net</I>: Vessels are stated at cost, less accumulated depreciation
(including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease
terms relative to market terms) and accumulated impairment losses. The estimates and assumptions that have the most significant
effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated
dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -14.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>Impairment of Non-Financial Assets</I>: The Company&rsquo;s impairment test for non-financial
assets is based on the assets&rsquo; recoverable amount, where the recoverable amount is the greater of fair value less costs to
sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets
as at December 31, 2018. The value in use calculation is based on a discounted cash flow model. The value in use calculation is
most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows and the growth
rate used for extrapolation. See notes 2.13 and 5.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify"><I>Share based payments</I><B>: </B>The Company measures the cost of equity-settled transactions
with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair
value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended
on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation
model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for
estimating fair value for share-based payment transactions are disclosed in note 13.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2.4</B></TD><TD STYLE="text-align: justify"><B>Accounting for revenue and related expenses:</B> The Company generates its revenues from charterers
for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for
the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and
collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the
time charter. Such revenues are treated in accordance with IAS 17 as lease income as explained in note 2.23 below. Associated voyage
expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash
received prior to the financial position date and is related to revenue earned after such date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify; text-indent: -30pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Interest income</B>: interest
income is recognised as interest on an accrual basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Voyage expenses</B>: Voyage expenses
primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements
are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue paid by the Company. Voyage expenses
are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and
risk of operation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Vessel operating expenses</B>:
Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs.
Under time charter arrangements, these expenses are paid by the charterer and by the Company under voyage charter arrangements.
Vessel operating expenses are accounted for on an accruals basis. Under a bareboat charter, the charterer assumes responsibility
for all vessel operating expenses and risk of operation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS
MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies
(continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.5</B></TD><TD STYLE="text-align: justify"><B>Foreign currency translation:</B> 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&rsquo;s vessels operate in international
shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during
the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial
position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated
into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are
included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.6</B></TD><TD STYLE="text-align: justify"><B>Cash and cash equivalents:</B> 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.7</B></TD><TD STYLE="text-align: justify"><B>Trade accounts receivable, net<I>: </I></B>The amount shown as trade accounts receivable at
each financial position date includes estimated recoveries from charterers for hire, freight and demurrage billings, net of an
allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at
their transaction price and subsequently measured at amortized cost less impairment losses, which are recognized in the consolidated
statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually
for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December
31, 2018 was $68 (2017: $138).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify; text-indent: -30pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.8</B></TD><TD STYLE="text-align: justify"><B>Inventories:</B> Inventories consist of lubricants, bunkers and gas cylinders and are stated
at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.9</B></TD><TD STYLE="text-align: justify"><B>Vessels, net:</B> Vessels are stated at cost, less accumulated depreciation (including depreciation
of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms)
and accumulated impairment losses. Vessel cost consists of the contract price for the vessel and any material expenses incurred
upon acquisition (initial repairs, improvements and delivery expenses, interest, commissions paid and on-site supervision costs
incurred during the construction periods). Any seller&rsquo;s credit, i.e., amounts received from the seller of the vessels until
date of delivery is deducted from the cost of the vessel. Subsequent expenditures for conversions and major improvements are also
capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify; text-indent: -30pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.10</B></TD><TD STYLE="text-align: justify"><B>Deferred dry-docking costs:
                                         </B><FONT STYLE="font-weight: normal">Vessels are required to be dry-docked for major
                                         repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings
                                         occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised
                                         and depreciated on a straight-line basis over the period between dry-dockings, to a maximum
                                         of 2.5 years. At the date of acquisition of a vessel, management estimates the component
                                         of the cost that corresponds to the economic benefit to be derived until the first scheduled
                                         dry-docking of the vessel under the ownership of the Company and this component is depreciated
                                         on a straight-line basis over the remaining period through the estimated dry-docking
                                         date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.11</B></TD><TD STYLE="text-align: justify"><B>Depreciation:</B> The cost of each of the Company&rsquo;s vessels is depreciated on a straight-line
basis over each vessel&rsquo;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
second quarter of 2016, the Company reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide.
This resulted to an additional depreciation expense of $96 included in the consolidated statement of comprehensive loss for 2016.
During the third quarter of 2017, the Company adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates
worldwide. This resulted to a decrease of $86 to the depreciation charge included in the consolidated statement of comprehensive
loss for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased
scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of
comprehensive loss for 2018.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30.05pt; text-align: justify; text-indent: -30.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.12</B></TD><TD STYLE="text-align: justify"><B>Amortization of lease component:</B> When the Company acquires a vessel subject to an operating
lease, it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms
relevant to market terms, over the remaining term of the lease<FONT STYLE="background-color: white">. The amortization is included
in the line &ldquo;amortization</FONT> of fair value of time charter attached to vessels&rdquo; in the income statement component
of the consolidated statement of comprehensive loss.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify; text-indent: -30pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(Amounts presented in thousands of U.S. Dollars- except
for share, per share and warrants data, unless otherwise stated)</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies
(continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.13</B></TD><TD STYLE="text-align: justify"><B>Impairment of non-financial assets:</B> The Company assesses at each reporting date whether
there is an indication that a vessel may be impaired. The vessel&rsquo;s recoverable amount is estimated when events or changes
in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds
the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater
of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to
their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific
to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment
loss is reversed only if there has been a change in the estimates used to determine the asset&rsquo;s recoverable amount since
the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable
amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment
loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss.
After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&rsquo;s revised carrying amount,
less any residual value, on a systematic basis over its remaining useful life (refer to note 5).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.14</B></TD><TD STYLE="text-align: justify"><B>Long-term debt:</B> Long-term debt is initially recognised at the fair value of the consideration
received net of financing costs directly attributable to the borrowing. After initial recognition, long-term debt is subsequently
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any financing
costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated
statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.15</B></TD><TD STYLE="text-align: justify"><B>Financing costs:</B> 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, 2018, the Company deferred financing costs of $253, which relate to the costs
incurred for the new loan agreement with Macquarie Bank International Limited (see Note 12 for more details). For the years ended
December 31, 2017 and 2016, the Company did not incur any financing costs.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.16</B></TD><TD STYLE="text-align: justify"><B>Borrowing costs:</B> Borrowing costs consist of interest
and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs are expensed to the income
statement component of the consolidated statement of comprehensive loss as incurred under &ldquo;interest expense and finance
costs&rdquo; except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a
substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.
..</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.17</B></TD><TD STYLE="text-align: justify"><B>Operating segment:</B> 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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.18</B></TD><TD STYLE="text-align: justify"><B>Provisions and contingencies: </B>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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.19</B></TD><TD STYLE="text-align: justify"><B>Pension and retirement benefit obligations: </B>The
crew on board the vessels owned by the ship-owning companies owned by Globus is under short-term contracts (usually up to nine
months) and, accordingly, no one is liable for any pension or post-retirement benefits payable to the crew.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 30pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Provision for employees&rsquo;
severance compensation: </B>The Greek employees, of the Company are bound by the Greek Labour law. Accordingly, compensation is
payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and
the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until
normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would
be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age
is not known. The Company has provided for the employees&rsquo; retirement compensation liability which amounted to $87 as at December
31, 2018 (2017: $82), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated
statement of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies
(continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.20</B></TD><TD STYLE="text-align: justify"><B>Offsetting of financial assets and liabilities: </B>Financial assets and liabilities are offset
and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to
set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and
settle the liability simultaneously.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.21</B></TD><TD><B>Financial assets and liabilities:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>i. Classification and measurement
of financial assets and financial liabilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">IFRS 9 largely retains the existing
requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS
39 categories for financial assets of held to maturity, loans and receivables and available for sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">A financial asset is measured at
amortized cost if it meets both of the following conditions and is not designated as at FVTPL:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">it is held within a business model whose objective is to hold assets to collect contractual cash
flows; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">its contractual terms give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">A debt investment is measured at
FVOCI if it meets both of the following conditions and is not designated as at FVTPL:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">it is held within a business model whose objective is achieved by both collecting contractual cash
flows and selling financial assets; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">its contractual terms give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>ii. Impairment of financial assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">IFRS 9 replaces the 'incurred loss'
model in IAS 39 with an 'expected credit loss' (ECL) model. The new impairment model applies to financial assets measured at amortized
cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses
are recognized earlier than under IAS 39.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The financial assets at amortized
cost consist of trade receivables and cash and cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Under IFRS 9, loss allowances are
measured on either of the following bases:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">12-month ECLs: these are ECLs that result from possible default events within the 12 months after
the reporting date; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">lifetime ECLs: these are ECLs that result from all possible default events over the expected life
of a financial instrument.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company assumes that the credit
risk on a financial asset has increased significantly if it is more than 180 days past due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies
(continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company considers a financial
asset to be in default when:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the counterparty is unlikely to pay its contractual obligations to the Company in full, without
recourse by the Company to actions such as realising security (if any is held); or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the financial asset is more than 1 year past due.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The maximum period considered when
estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Loss allowances for financial assets
measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application
of IFRS 9's impairment requirements at January 1, 2018, has not resulted to any additional impairment allowance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">iii. Derecognition of financial
assets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">A financial asset (or, where applicable
a part of a financial asset or part of a group of similar financial assets) is derecognised where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the rights to receive cash flows from the asset have expired;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">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 &ldquo;pass-through&rdquo; arrangement; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Where the Company has transferred
its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards
of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company&rsquo;s continuing involvement
in the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">iv. Derecognition of Financial
liabilities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt">A financial liability
is derecognised when the obligation under the liability is discharged or cancelled or expires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Where an existing financial liability
is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new
liability, and, the difference in the respective carrying amounts is recognised in profit or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.22</B></TD><TD STYLE="text-align: justify"><B>Leases &ndash; where the Company is the lessee: </B>Leases where a significant portion of the
risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases
are charged to the income statement component of the consolidated statement of comprehensive loss on a straight-line basis over
the period of the lease.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.23</B></TD><TD STYLE="text-align: justify"><B>Leases &ndash; where an entity is the lessor: </B>Leases of vessels where the entity does not
transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on
operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the
period in which they are earned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.24</B></TD><TD STYLE="text-align: justify"><B>Insurance: </B>The Company recognizes insurance claim recoveries for insured losses incurred
on damage to vessels. Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company&rsquo;s vessels
suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the
amounts are virtually certain to be received.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.25</B></TD><TD STYLE="text-align: justify"><B>Share based compensation: </B>Globus operates equity-settled, share-based compensation plans.
The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed
over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense
is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact
in equity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies (continued)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2.26</B></TD><TD STYLE="text-align: justify"><B>Share capital: </B>Common shares and preferred shares are classified as equity. Incremental
costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2.27</B></TD><TD STYLE="text-align: justify"><B>Dividends: </B>Dividends to shareholders are recognised in the period in which the dividends
are declared and appropriately authorised and are accounted for as dividends payable until paid.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2.28</B></TD><TD STYLE="text-align: justify"><B>Fair value measurement:</B> The Company measures financial instruments, such as, derivatives
and non-financial assets at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised
cost are disclosed in note 22. 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&rsquo;s ability to generate economic benefits
by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest
and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are
available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The Company uses
the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">Level 1: quoted
(unadjusted) prices in active markets for identical assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -45pt">Level 2: other
techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -45pt">Level 3: techniques
which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">For assets and liabilities that
are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred
between levels in the hierarchy by reassessing categorization at the end of each reporting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 28.35pt">The Company engaged independent
valuation specialists to determine the fair value of non-financial assets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.29</B></TD><TD STYLE="text-align: justify"><B>Current versus non-current classification:</B> The Company presents assets and liabilities in
the consolidated statement of financial position based on current/non-current classification.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -35.45pt">An asset
as current when it is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Expected to be realised or intended to be sold or consumed in a normal operating cycle</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Held primarily for the purpose of trading</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Expected to be realised within twelve months after the reporting period</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Cash or cash equivalent</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">All other assets are classified as non-current.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">A liability is current:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">It is expected to be settled in a normal operating cycle</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">It is held primarily for the purpose of trading</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">It is due to be settled within twelve months after the reporting period</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">There is no unconditional right to defer the settlement of the liability for at least twelve months
after the reporting period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -35.45pt">All other
liabilities are classified as non-current</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2</B></TD><TD STYLE="text-align: justify"><B>Basis of Preparation and Significant Accounting Policies (continued)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B>2.30</B></TD><TD STYLE="text-align: justify"><B>Embedded Derivatives:</B> An embedded derivative is a component of a hybrid contract that also
includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to
a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">(a) the economic characteristics
and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(b) a separate instrument with
the same terms as the embedded derivative would meet the definition of a derivative; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(c) the hybrid contract is not
measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial
liability at fair value through profit or loss is not separated).&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company&rsquo;s embedded derivativesare
separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative
host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial
instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative
financial liabilities as of December 31, 2018 (see Note 12). The fair value of the embedded derivative instrument at December&nbsp;31,
2018, is estimated using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield as the Company
does not expect to pay a dividend on the foreseeable future, (b) weighted average expected volatility of 80%, (c) risk free rate
of 2.48% determined by management using the applicable Treasury Bill as of the measurement date, (d) market value of common stock
$2.88 and (e) expected life of 1.89 years as at December 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">3</TD><TD STYLE="text-align: justify">Cash and cash equivalents and Restricted cash</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">For the purpose of the consolidated
statement of financial position, cash and cash equivalents comprise the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify">Cash on hand</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">46</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cash at banks</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,756</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">46</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,756</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.55pt">Cash held
in banks earns interest at floating rates based on daily bank deposit rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -0.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.55pt">The fair
value of cash and cash equivalents as at December 31, 2018 and 2017, was $46 and $2,756, respectively. In addition, as of December
31, 2018, the Company had available $12,800 (2017: $3,000) of undrawn borrowing facilities (note 12).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">As at December
31, 2018 and 2017, the Company had pledged an amount of $1,350 and $210, respectively in order to fulfil collateral requirements.
The fair value of restricted cash as at December 31, 2018 and 2017, was $1,350 and $210, respectively. The cash and cash equivalents
are held with reputable bank and financial institution counterparties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">4</TD><TD STYLE="text-align: justify">Transactions with Related Parties</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The ultimate controlling party
of the Company is Mr. George Feidakis who beneficially owns 1,420,163 common shares as of December 31, 2018, through Firment Shipping
Inc., a Marshall Islands corporation controlled by Mr Feidakis. As at December 31, 2018 and 2017, Mr Feidakis beneficially owned
44.3% and 58.7%, respectively, of Globus&rsquo; shares. Mr. George Feidakis is also the chairman of the Board of Directors of Globus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 46.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The following are the major transactions
which the Company has entered into with related parties during the years ended December 31, 2018, 2017 and 2016:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In August 2006, Globus had entered
into a rental agreement for 350 square metres of office space for its operations within a building owned by Cyberonica S.A. (an
affiliate of Globus&rsquo;s chairman). In 2016 the Company renewed the rental agreement at a monthly rate of Euro 10,360 (absolute
amount) ($11.9) with a lease period ending January 2, 2025. The Company does not presently own any real estate. During the years
ended December 31, 2018, 2017 and 2016, rent expense was $147, $140 and $138, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The expense is recognised in the
income statement component of the consolidated statement of comprehensive loss under administrative expenses payable to related
parties. As of December 31, 2018 and 2017, $427 and $471 of rent expense, respectively was due and unpaid. Rent expense payable
to related parties is classified as trade accounts payable in the consolidated statement of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">4</TD><TD STYLE="text-align: justify">Transactions with Related Parties (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 28, 2015, Athanasios
Feidakis assumed the position of Chief Executive Officer (&ldquo;CEO&rdquo;) and Chief Financial Officer. On August 18, 2016, the
Company entered into a consultancy agreement with an affiliated company of its CEO, Mr. Athanasios Feidakis, for the purpose of
providing consulting services to the Company in connection with the Company&rsquo;s international shipping and capital raising
activities, including but not limited to assisting and advising the Company&rsquo;s CEO at an annual fee of Euro 200,000 (absolute
amount) (approx. $229). The related expense for the years ended December 31, 2018, 2017 and 2016, amounted to $235, $229 and $97,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In December 2013, Globus entered
into a credit facility for up to $4,000 with Firment Trading Limited, an affiliate of the Company&rsquo;s chairman, for the purpose
of financing its general working capital needs (&ldquo;Firment Credit Facility&rdquo;). Effective from December 2014, through a
supplemental agreement in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through
a second supplemental agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a
third supplemental agreement, the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment
Trading Limited, a Marshall Islands corporation, each of which is an affiliate of the Company&rsquo;s chairman. The Company had
the right to drawdown any amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On February 8, 2017, the Company
entered into a Share and Warrant Purchase Agreement (&ldquo;February 2017 private placement&rdquo;) pursuant to which it sold for
$5,000 an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &ldquo;February 2017 Warrants&rdquo;)
to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor
is the sister of the CEO of Globus and the daughter of its chairman. These securities were issued in transactions exempt from registration
under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing
them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In connection with the closing
of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">One loan amendment agreement was
entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding
principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding,
which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the
Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase
623,058 common shares at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid
the outstanding amount on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12,
2017. Firment Trading Limited waived any interest under Firment Credit Facility for 2017. For the year ended December 31, 2016,
Globus recognized interest expense of $608.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In January 2016, Globus Maritime
Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate of the Company&rsquo;s chairman,
for the purpose of financing its general working capital needs (&ldquo;the Silaner Credit Facility&rdquo;) The Silaner Credit Facility
was unsecured and remained available until its final maturity date at January 12, 2018. The Company had the right to drawdown any
amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance with
the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged
on the amounts remaining available and undrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">For the years ended December 31,
2017 and 2016, Globus recognised interest expense of $3 and $74, respectively. The expense was classified in the income statement
component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable is
classified in the statement of financial position under accrued liabilities and other payables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The second loan amendment agreement
in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments
Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal
of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it
were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments
limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share. During 2017, the Company
drew down $ 280 under this facility. As of December 31, 2017, , Globus repaid the outstanding amount on the Silaner Credit Facility
in its entirety. The Silaner Credit Facility was terminated on January 12, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">4</TD><TD STYLE="text-align: justify">Transactions with Related Parties (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In June 2016, Globus Maritime Limited
entered into a consultancy agreement with Eolos Shipmanagement S.A., an affiliate of the Company&rsquo;s chairman, for the purpose
of providing consultancy services to Eolos Shipmanagement S.A. For these services the Company received a daily fee of $1. This
agreement was terminated on January 31, 2017. For the year ended 2018, 2017 and 2016, the total income from these fees amounted
to nil, $31 and $187, respectively and is classified in the income statement component of the consolidated statement of comprehensive
loss under management and consulting fee income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In November 2018, Globus entered
into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company&rsquo;s chairman, for the purpose
of financing its general working capital needs (&ldquo;Firment Shipping Credit Facility&rdquo;. The Firment Shipping Credit Facility
is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right to drawdown any
amount up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance with the terms
of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee is charged on the amounts
remaining available and undrawn. Interest is payable the last day of a period of three months after the Drawdown Date, after this
period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. Globus
also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but
unpaid interest under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i)
the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading
day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&ldquo;VWAP&rdquo;) over the pricing period
multiplied by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive trading days immediately preceding the date
on which the conversion notice was executed or, (ii) Two US Dollars and Eighty Cents ($2.80).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018, the amount
drawn and outstanding with respect to Firment Shipping Credit Facility was $2,200 and was classified under long-term borrowings,
net of the current portion and the fair value of the derivative financial instruments in the consolidated statement of financial
position(see Note 12). For the year ended December 31, 2018, Globus recognised interest expense of $12, classified in the income
statement component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable
is classified in the consolidated statement of financial position under accrued liabilities and other payables. As of December
31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Firment Shipping Credit Facility
requires that Athanasios Feidakis remain the Company&rsquo;s Chief Executive Officer and that Firment Shipping maintains at least
a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018, the Company in compliance
with the loan covenants of the Firment Shipping Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Compensation of Key Management
Personnel of the Company:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Compensation to Globus non-executive
directors is analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Director&rsquo;s remuneration</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">145</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">145</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">130</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Share-based payments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">40</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">40</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">185</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">185</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">165</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018 and 2017,
$201 and $126 of the compensation to non-executive directors was remaining due and unpaid, respectively. Amounts payable to non-executive
directors are classified as trade accounts payable in the consolidated statements of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Compensation to the Company&rsquo;s
executive director is analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Short-term employee benefits</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">235</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">229</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">82</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Share-based payments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">235</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">229</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">97</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">4</TD><TD STYLE="text-align: justify">Transactions with Related Parties (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31 2018 and 2017,
$391 and $239 of the compensation to the executive director was remaining due and unpaid, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">5</TD><TD STYLE="text-align: justify">Vessels, net</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The amounts in the consolidated
statement of financial position are analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vessels<BR> cost</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vessels<BR> accumulated<BR> depreciation</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dry docking<BR> costs</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated<BR> depreciation of<BR> dry docking costs</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net Book<BR> Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance at January 1, 2016</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">198,803</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(90,086</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,976</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2,618</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">110,075</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additions/ (Dry Docking Component)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">478</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Sale of subsidiary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,647</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(600</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">276</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,771</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,985</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,005</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,990</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance at December 31, 2016</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">179,156</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(87,871</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,854</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,347</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">91,792</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additions/ (Dry Docking Component)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">245</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">976</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,221</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,831</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(862</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,693</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Balance at December 31, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">179,401</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(92,702</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4,830</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4,209</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">87,320</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Additions/ (Dry Docking Component)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,148</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,174</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,578</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,166</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,744</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance at December 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">179,427</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(97,280</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,978</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(5,375</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">83,750</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">For the purpose
of the consolidated statement of comprehensive loss, depreciation, as stated in the income statement component, comprises the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: right">For the year ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Vessels depreciation</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,831</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,985</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Depreciation on office furniture and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,601</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,854</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">5,014</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company&rsquo;s
vessels have been pledged as collateral to secure the bank loans discussed in note 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Impairment
of non-financial assets:</B> As of December 31, 2018, the Company performed an assessment on whether there were indicators that
a vessel(s) may be impaired. As impairment indicators were identified, discounted future cash flows for each vessel were determined
and compared to the vessel&rsquo;s carrying value. The projected net discounted future cash flows for the first year were determined
by considering an estimated daily time charter equivalent based on the most recent blended (for modern and older vessels) FFA (i.e.
Forward Freight Agreements) time charter rate for the year of 2019 for each type of vessel. For the remaining useful life of the
vessels, the Company used the historical ten-year blended average one-year time charter rates substituting for the year 2016 that
was considered as extreme values, with the year 2006. The rates were adjusted assuming an annual growth rate of 1.7% as published
by the International Monetary Fund, net of commissions. Expected outflows for scheduled vessels maintenance were taken into consideration
as well as vessel operating expenses assuming an average annual increase rate of 1% based on the historical trend deriving from
actual results for the Company&rsquo;s vessels since their delivery under Company&rsquo;s technical management. The average time
charter rates used were in line with the overall chartering strategy, especially in periods/years of depressed charter rates; reflecting
the full operating history of vessels of the same type and particulars with the Company&rsquo;s operating fleet (Supramax and Panamax
vessels with a deadweight (&ldquo;dwt&rdquo;) of over 50,000 and 70,000, respectively) and they covered at least one full business
cycle. Effective fleet utilization was assumed at 90% (including ballast days), taking into account the period(s) each vessel is
expected to undergo her scheduled maintenance (dry-docking and special surveys), as well as an estimate of the period(s) needed
for finding suitable employment and off-hire for reasons other than scheduled maintenance, assumptions in line with the Company&rsquo;s
expectations for future fleet utilization under the current fleet deployment strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December
31, 2018, 2017 and 2016, no impairment loss was recognized as the vessels&rsquo; recoverable amounts exceeded their carrying amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>6</B></TD><TD STYLE="text-align: justify"><B>Inventories</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Inventories in the consolidated
statement of financial position are analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Lubricants</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">313</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">328</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Gas cylinders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Bunkers</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">259</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">270</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">650</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">661</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>7</B></TD><TD STYLE="text-align: justify"><B>Prepayments and other assets</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Prepayments and
other assets in the consolidated statement of financial position are analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Bunkers</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">216</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other prepayments and other assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">210</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">171</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">426</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8</B></TD><TD STYLE="text-align: justify"><B>Trade accounts payable</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Trade accounts
payable in the consolidated statement of financial position as at December 31, 2018 and 2017, amounted to $6,433 and $4,258, respectively.
Trade accounts payable are non-interest bearing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>9</B></TD><TD STYLE="text-align: justify"><B>Accrued liabilities and other payables</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Accrued liabilities
and other payables in the consolidated statement of financial position are analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Accrued interest</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">114</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">274</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Accrued audit fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Other accruals</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">999</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">996</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Insurance deductibles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">139</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other payables</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">47</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">46</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,319</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,455</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Interest is normally settled quarterly throughout the year.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Other payables are non-interest bearing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">10</TD><TD STYLE="text-align: justify">Share Capital and Share Premium</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The authorised
share capital of Globus consisted of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Authorised share capital:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: justify">500,000,000 Common shares of par value $0.004 each</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 0">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">100,000,000 Class B Common shares of par value $0.001 each</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">100,000,000 Preferred shares of par value $0.001 each</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total authorised share capital</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,200</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,200</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,200</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">10</TD><TD STYLE="text-align: justify">Share Capital and Share Premium (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Holders of the
Company&rsquo;s common shares and Class B shares have equivalent economic rights, but holders of Company&rsquo;s common shares
are entitled to one vote per share and holders of the Company&rsquo;s Class B shares are entitled to twenty votes per share. Each
holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number
of common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: left; padding-left: 0.375in">Common Shares issued and fully paid</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">USD</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; font-weight: bold; text-align: justify">As at January 1, 2016</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">257,965</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issued during the year for share based compensation (note 13)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,790</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">As at December 31, 2016</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">262,755</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Issued during the year for share based compensation (note 13)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,094</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Issuance of common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issuance of common stock due to exercise of warrants</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">148,181</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">As at December 31, 2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,163,030</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">13</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Issued during the year for share based compensation (note 13)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issuance of common stock due to exercise of warrants</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">As at December 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,209,327</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On February 8, 2017, the Company
entered into a Share and Warrant Purchase Agreement (&ldquo;February 2017 private placement&rdquo;) pursuant to which it sold for
$5,000, an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &ldquo;February 2017 Warrants&rdquo;)
to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor
is the CEO&rsquo;s sister and the daughter of its chairman. These securities were issued in transactions exempt from registration
under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing
them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In connection with the closing
of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">One loan amendment agreement was
entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding
principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding,
which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the
Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase
623,058 common shares at a price of $16 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The second loan amendment agreement
in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments
Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal
of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it
were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments
limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Further to the February 2017 private
placement two investors, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised their warrants in
2017 purchasing 148,181 shares for the aggregate gross proceeds to the Company of approximately $2,371. In January 2018 one investor,
other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised its warrants, purchasing 37,500 of the Company&rsquo;s
common shares for aggregate gross proceeds to the Company of approximately $600. Each of the February 2017 Warrants were exercisable
for 24 months after their respective issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December
31, 2018 and 2017, in connection with the February 2017 private placement, the February 2017 Warrants outstanding were exercisable
for an aggregate of 3,052,321 and 3,089,821 common shares respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">10</TD><TD STYLE="text-align: justify">Share Capital and Share Premium (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On October 19,
2017, the Company entered into a Share and Warrant Purchase Agreement (the &ldquo;October 2017 SPA&rdquo;) pursuant to which it
sold for $2,500 an aggregate of 250,000 of its common shares, par value $0.004 per share and a warrant (the &ldquo;October 2017
Warrant&rdquo;) to purchase 1.25 million of its common shares at a price of $16 per share to an investor in a private placement
(the &ldquo;October 2017 Private Placement&rdquo;). These securities were issued in transactions exempt from registration under
the Securities Act of 1933, as amended. On that day, Company also entered into a registration rights agreement with the purchaser
providing it with certain rights relating to registration under the Securities Act of the 250,000 common shares issued in connection
with the October 2017 Private Placement and the common shares underlying the October 2017 Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Under the terms
of the October 2017 Warrant, the purchaser may not exercise its warrant to the extent such exercise would cause the purchaser,
together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which
may be increased upon no less than 61 days&rsquo; notice, but not to exceed 9.99%) of Globus&rsquo;s then outstanding common shares
immediately following such exercise, excluding for purposes of such determination common shares issuable upon exercise of the October
2017 Warrant which have not been exercised. This provision does not limit the purchaser from acquiring up to 4.99% of our common
shares, selling all of its common shares, and re-acquiring up to 4.99% of our common shares. The October 2017 Warrant is exercisable
for 24 months after its issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018 and 2017,
in connection with the October 2017 SPA, the October 2017 Warrant was outstanding and exercisable for an aggregate of 1,250,000
common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company during
2017 had recorded $218 expense in connection with these warrants which was deducted from share premium in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">During the years
ended December 31, 2018, 2017 and 2016, Globus issued 8,797, 2,094 and 4,790 common shares respectively as share-based payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.8in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">Series A Preferred&nbsp;&nbsp;Shares issued</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">USD</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-weight: bold; text-align: justify">As a January 1, 2016</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,567</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Issued during the year</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Shares redeemed by the issuer</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2,567</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">As at December 31, 2016</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issued during the year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">As at December 31, 2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Issued during the year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">As at December 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The holders of
Company&rsquo;s series A preferred shares were entitled to receive, if funds were legally available, dividends payable in cash
in an amount per share to be determined by unanimous resolution of Company&rsquo;s Remuneration Committee, in its sole discretion.
Globus&rsquo;s board of directors or Remuneration Committee would determine whether funds were legally available under the Marshall
Islands Business Corporations Act (&ldquo;BCA&rdquo;) for such dividend. Any accrued but unpaid dividends would not bear interest.
Except as could have been provided in the BCA, holders of the series A preferred shares did not have any voting rights. Upon the
Company&rsquo;s liquidation, dissolution or winding up, the holders of its series A preferred shares would be entitled to a preference
in the amount of the declared and unpaid dividends, if any, as of the date of liquidation, dissolution or winding up. The series
A preferred shares were not convertible into any of its other capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In July 2016
the 2,567 series A preferred shares, granted to the Company&rsquo;s former Chief Executive Officer were redeemed and as of December
31, 2018 and 2017 the Company had no series A preferred shares outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018,
2017 and 2016, no Class B shares were outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Share premium
includes the contribution of Globus&rsquo; shareholders to the acquisition of the Company&rsquo;s vessels. Additionally, share
premium includes the effects of the Globus initial and follow-on public offerings, the effects of the settlement of the related
party loans (note 4) with the issuance of the Company&rsquo;s common shares and the effects of the share based payments described
in note 13. Accordingly, at December 31, 2018, 2017 and 2016, Globus share premium amounted to $140,334, $139,684 and $110,013,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>11</B></TD><TD STYLE="text-align: justify"><B>Loss per Share</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Basic loss per share (&lsquo;&lsquo;LPS&rsquo;&rsquo;)
is calculated by dividing the net loss for the year attributable to Globus shareholders by the weighted average number of shares
issued, paid and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Diluted loss per share is calculated
by dividing the net loss attributable to common equity holders of the parent by the weighted average shares outstanding during
the year plus the weighted average number of common shares that would be issued on the conversion of all the dilutive potential
common shares into common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company excluded the dilutive
effect of 4,302,321 of potential common shares issuable upon exercise of warrants as their effect was anti-dilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The following reflects the loss
and share data used in the basic and diluted loss per share computations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">For the year ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; width: 61%; padding-left: -40pt">Loss attributable to common equity holders</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(3,568</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(6,475</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(9,825</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Weighted average number of shares for basic and diluted LPS</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,200,927</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,574,995</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">260,384</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12</TD><TD STYLE="text-align: justify">Long-Term Debt, net</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Long-term debt
in the consolidated statement of financial position is analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Borrower</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Loan<BR> Balance</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Unamortized<BR> Debt Discount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total<BR> Borrowings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 5%; font-weight: bold">(a)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%; text-align: justify">Devocean Maritime Ltd., Domina Maritime Ltd. &amp; Dulac Maritime S.A.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">22,163</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(46</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">22,117</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">(c)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Globus Maritime Ltd.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">(d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Artful Shipholding S.A. &amp; Longevity Maritime Limited</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(249</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,251</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">Total at December 31, 2018</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">37,163</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(295</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">36,868</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Less: Current Portion</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(35,663</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">295</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(35,368</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Long-Term Portion</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,500</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,500</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">Total at December 31, 2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">41,660</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(122</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">41,538</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Less: Current Portion</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(41,660</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">122</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(41,538</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Long-Term Portion</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(a)</B></TD><TD STYLE="text-align: justify">In February 2015, Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. (&ldquo;Devocean
et al.&rdquo;), vessel owning companies of m/v River Globe, m/v Sky Globe and m/v Star Globe, respectively, entered into a loan
agreement for up to $30,000 with Hamburg Commercial Bank AG (formerly known as HSH Nordbank AG) (the &ldquo;Bank&rdquo;) for the
purpose of partially prepaying the then outstanding secured reducing revolving credit facility with Credit Suisse AG. The loan
facility is in the names of Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. as the borrowers and is guaranteed
by Globus (&ldquo;Guarantor&rdquo;). The loan facility bears interest at LIBOR plus a margin of 3.00% for interest periods of three
months and 3.10% for interest periods of one month. This Hamburg Commercial loan facility was referred as HSH Loan Facility in
previous reports of the Company and it continued to be the same facility as the Bank changed its name from HSH Nordbank AG to Hamburg
Commercial Bank AG in February 2019.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On March 3, 2015,
Devocean et al. drew down $29,405 as analyzed below and the Company prepaid $30,000 to Credit Suisse AG reducing the balance due
to Credit Suisse AG to $5,000, which was settled in July 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Tranche (A) of
$8,580 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v River Globe. The balance
outstanding of tranche (A) at December 31, 2018, was $6,095 payable in 4 equal quarterly installments of $239 starting, March 2019,
as well as a balloon payment of $5,139 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Tranche (B) of
$10,100 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Sky Globe. The balance
outstanding of tranche (B) at December 31, 2018, was $7,697 payable in 4 equal quarterly installments of $230 starting, March 2019,
as well as a balloon payment of $6,777 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12</TD><TD STYLE="text-align: justify">Long-Term Debt, net (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Tranche (C) of
$10,725 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Star Globe. The balance
outstanding of tranche (C) at December 31, 2018, was $8,371 payable in 4 equal quarterly installments of $224 starting, March 2019,
as well as a balloon payment of $7,475 due together with the 4th and final installment due in December 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The loan is secured
by, among other things:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">First preferred mortgage over m/v River Globe, m/v Sky Globe and m/v Star Globe.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Guarantees from the vessel owning companies and from Globus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">First preferred assignment of all insurances and earnings of the mortgaged vessels.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Assignment of charter in respect of each vessel and an assignment of any guarantee or security
in respect of such charters.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Assignment of any related hedging agreements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The original loan
agreement contains various covenants requiring the vessels owning companies and Globus to ensure that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the aggregate fair market value of the mortgaged vessels must equal or exceed 125% of the outstanding
balance under the loan agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the ratio of the Company&rsquo;s total liabilities to its market adjusted total assets shall not
exceed 75%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the Company maintains a minimum market adjusted net worth of more than or equal $30,000.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the vessel owning subsidiaries must each maintain a minimum liquidity of $250 in an account pledged
to the bank,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">the Company shall maintain a minimum liquidity of greater than 5% of its consolidated indebtedness.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On July 10, 2017,
the Company entered a Second Supplemental Agreement for the period from March 4, 2017 to March 3, 2018. The main points agreed
in this Second Supplemental Agreement were:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additional deferrals to the last scheduled
repayment date of the principal amount of the loan during the period from June 3, 2016 through March 3, 2018, of $956 in relation
to Devocean, $920 in relation to Domina, and $898 in relation to Dulac. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferral fee of 2.5 per cent per annum
on the additional deferred amounts calculated from March 4, 2017 until March 3, 2018. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepayment of $1,000 on or before September
27, 2017, which has been settled.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Undertaking that the Company to raise
at least $1,800 from its shareholders by December 31, 2017, which has been satisfied.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restriction of the borrowers to make distributions
or other payments to the Company so long as such additional deferred amounts remain outstanding.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Waiver from June 3, 2016 through March
3, 2018, of the requirement that the Company maintains a net worth of at least $30,000 and holds cash on a consolidated basis with
its subsidiaries of at least 5% of their consolidated indebtedness.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December
31, 2017, the Company was in compliance with the covenants of Hamburg Commercial Bank AG loan agreement, as amended and in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">During 2018 and after the expiration
of the Second Supplemental Agreement, the Company did not obtain further waivers and the breached covenants contained in this loan
agreement constituted an event of default. Although the loan matures and is to be settled in full through December 2019, due to
the event of default, Hamburg Commercial Bank AG can elect to declare the outstanding debt, together with accrued interest and
other fees, to be immediately due and payable and proceed against the collateral securing that debt. Until the date of issuance
of these consolidated financial statements no such action had been taken by the lender against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December 31, 2018, the Company
was not in compliance with the loan covenants of the Hamburg Commercial Bank AG loan agreement. In more detail:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The aggregate amount of cash held by the Company on a consolidated basis should, on each day, exceed
an amount in dollars equal to 5% of the Total Indebtedness. The Company&rsquo;s cash as of December 31, 2018, was $46 whereas it
should have been $1,893.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">Tangible Net Worth should not at any time be less than $30,000. As of December 31, 2018, the Company&rsquo;s
Tangible Net Worth was $13,550.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">The ratio of Total Liabilities to the Market Value Adjusted Assets should at all times be less
than 0.75:1.00. The Company&rsquo;s ratio as of December 31, 2018, was 0.77:1.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12</TD><TD STYLE="text-align: justify">Long-Term Debt, net (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 96.4pt; text-align: justify; text-indent: -25.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">The Borrowers should maintain in the Minimum Liquidity Account at all times cash balances in an
aggregate amount of no less than Two hundred and fifty thousand dollars ($250) per Mortgaged Ship; therefore, it should have $750
for the three vessels. The Company had $600 as restricted cash as of December 31, 2018,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(b)</B></TD><TD STYLE="text-align: justify">In June 2011, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&ldquo;Artful&rdquo;)
and Longevity Maritime Limited (&ldquo;Longevity&rdquo;), entered into the DVB Loan Agreement for an amount up to $40,000 with
DVB Bank SE and used funds borrowed thereunder to finance part of the purchase price for the m/v Moon Globe and m/v Sun Globe.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In June 2011, $19,000 was drawn
down (Tranche A) for the purpose of partly financing the acquisition of the m/v Moon Globe and in September 2011, $18,000 was drawn
(Tranche B) for the purpose of partly financing the acquisition of the m/v Sun Globe. As at December 13, 2018, the balance of both
tranches of $15,010 was fully repaid using the proceedings from the new loan agreements with Macquarie Bank International Limited
and Firment Shipping Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>(c)</B></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
November 2018, Globus Maritime Limited entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate
of the Company&rsquo;s chairman, for the purpose of financing its general working capital needs (Note 4). The Firment Shipping
Credit Facility is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right
to drawdown any amount of up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance
with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee was
charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the
drawdown date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest
is charged.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Globus also has
the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest
under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i) the average of
the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the
period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&ldquo;VWAP&rdquo;) over the pricing period multiplied
by 80%, where the &ldquo;Pricing Period&rdquo; equals the ten consecutive trading days immediately preceding the date on which
the conversion notice was executed or (ii) Two US Dollars and Eighty Cents ($2.80).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As per the conversion
clause included in the Firment Shipping Credit Facility, the Company has recognized this agreement as a hybrid agreement which
includes an embedded derivative. This embedded derivative was separated to the derivative component and the non-derivative host.
The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at
fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of
comprehensive loss. For the year ended December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit
Facility was $2,200. The non-derivative host was classified under &ldquo;long-term borrowings&rdquo; in the consolidated statement
of financial position and was $1,500 and the derivative component that was initially recognized amounted to $700 and was classified
under &ldquo;fair value of derivative financial instruments&rdquo; in the consolidated statement of financial position. For the
year ended December 31, 2018, the Company recognized a loss on this derivative financial instrument amounting to $131, which was
classified under &ldquo;loss on derivative financial instruments&rdquo; in the consolidated statement of comprehensive loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">As of December
31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The Firment Shipping
Credit Facility requires that Athanasios Feidakis remain our Chief Executive Officer and that Firment Shipping maintains at least
a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">As of December
31, 2018, the Company in compliance with the loan covenants of the Firment Shipping Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(d)</B></TD><TD STYLE="text-align: justify">In December 2018, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&ldquo;Artful&rdquo;)
and Longevity Maritime Limited (&ldquo;Longevity&rdquo;), entered into the Macquarie Loan Agreement for an amount up to $13,500
with Macquarie Bank International Limited and used funds borrowed thereunder to refinance part of the repayment of the existing
DVB Loan Agreement for the m/v Moon Globe and m/v Sun Globe. Globus acts as guarantor for this loan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>


<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12</TD><TD STYLE="text-align: justify">Long-Term Debt, net (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In December 2018, $6,000 (Artful
Advance) and $7,500 (Longevity Advance) were drawn down for the purpose of partly refinancing the existing DVB Loan Agreement for
m/v Moon Globe and m/v Sun Globe, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Artful Advance is payable in 20
quarterly installments of approximately $222, starting in March 2019 and a balloon payment of approximately $1,560 payable together
with the 20th and last installment payable in December 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Longevity Advance is payable in
20 quarterly installments of approximately $221, starting in March 2019 and a balloon payment of approximately $3,080 payable together
with the 20th and last installment payable in December 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The loan is secured by, among other
things:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">First preferred mortgage over m/v Moon Globe and m/v Sun Globe.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Guarantees from the vessel owning companies and from Globus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Assignment of all insurances and earnings of the mortgaged vessels.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Account pledges respecting the minimum liquidity accounts and operating accounts of the Company
described in the loan agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The original
loan agreement and/or the original Globus guarantee contains various covenants requiring the vessels owning companies and/or Globus
to, amongst others things, ensure that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The aggregate fair market value of the m/v Sun Globe and the m/v Moon Globe must equal or exceed
160% of the outstanding balance under the loan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">The vessel owning subsidiaries must each maintain a minimum liquidity of $375 in an account pledged
to the bank per vessel owned by the Company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT></TD><TD STYLE="text-align: justify">Each Borrower shall ensure that it has a Dry Dock Reserve Account which is credited with sufficient
funding to cover the forecast dry-docking, special survey and ballast water compliance expenses for each Ship at least three months
prior to the date such expenses are to be incurred such forecasted expenses.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in; color: blue">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As of December
31, 2018, the Company was in compliance with the covenants of Macquarie Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">As the Company
has breached the covenants contained in the Hamburg Commercial Bank AG loan agreement referred to above which constitutes an event
of default. Due to the cross-default provisions included in Macquarie Loan Agreement, the Company&rsquo;s lender can elect to declare
the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the
collateral securing that debt. Until the date of issuance of these consolidated financial statements no such action had been taken
by the lender against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>(e)</B></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
January 2016, Globus Maritime Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate
of the Company&rsquo;s chairman, for the purpose of financing its general working capital needs (Note 4). The Silaner Credit Facility
was unsecured and remained available until its final maturity date on January 12, 2018. The Company had the right to drawdown
any amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance
with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was
charged on the amounts remaining available and undrawn.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: center; text-indent: -25.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">In connection
with the February 2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company
with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal
to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner
Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an
affiliate of Silaner Investments Limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16
per share. During 2017, the Company drew down $ 280 under this facility and, before the end of the year, Globus repaid the outstanding
amount on the Silaner Credit Facility in its entirety. As of December 31, 2017, no amount was drawn and outstanding with respect
to the facility. The Silaner Credit Facility terminated at January 12, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>(f)</B></TD><TD STYLE="text-align: justify">In December 2013, Globus entered into a credit facility
for up to $4,000 with Firment Trading Limited, an affiliate of the Company&rsquo;s chairman, for the purpose of financing its
general working capital needs (&ldquo;Firment Credit Facility&rdquo;). Effective from December 2014, through a supplemental agreement
in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through a second supplemental
agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a third supplemental agreement,
the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall
Islands corporation, each of which is an affiliate of the Company&rsquo;s chairman. The Company had the right to drawdown any
amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>


<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12</TD><TD STYLE="text-align: justify">Long-Term Debt, net (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In connection with the February
2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company with Firment
Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment
Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue
under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment
Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares
at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount
on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The contractual
annual loan principal payments per bank loan to be made subsequent to December 31, 2018, assuming that the banks will not demand
the repayment of the loans before their maturity, were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">(a)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">(c)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(d)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Hamburg<BR> Commercial<BR> Bank AG</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Firment<BR> Shipping Inc.</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Macquarie Bank<BR> International Limited</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Total</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">December 31</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Advance (A)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Advance (B)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify">2019</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">22,163</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">889</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">882</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">23.934</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">889</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">882</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3.971</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">889</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">882</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1.771</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2022</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">889</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">882</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1.771</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">2023 and thereafter</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,444</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3.972</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6.416</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">22,163</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,200</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,000</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,500</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">37.863</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">The contractual
annual loan principal payments per bank loan to be made subsequent to December 31, 2017, assuming that the banks would not demand
the repayment of the loans before their maturity, were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">(a)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(b)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Hamburg<BR> Commercial<BR> Bank AG</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">DVB Bank</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Total</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">December 31</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tranche<BR>
 (A)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tranche<BR>
 (B)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify">2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,774</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">8,380</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,249</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">12,403</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,094</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,257</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">2020 and thereafter</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,937</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,380</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,343</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">41,660</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The weighted average interest rate for the years ended
December 31, 2018 and 2017, was 4.97% and 3.8%, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">13</TD><TD STYLE="text-align: justify">Share Based Payment</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Share-based payments are quarterly
restrictive share issuance to our Non-executive directors as instructed by their appointment letters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Share based payment comprise
the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Year 2018</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> common shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> preferred shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Share <BR> premium</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Retained<BR> earnings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Non-executive directors payment <B>(1)</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">8,797</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">50</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance at December 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,797</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">50</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(1) These amounts relate
to the shares issued in 2018, not to the shares approved for issuance for the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">13</TD><TD STYLE="text-align: justify">Share Based Payment (continued)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Year 2017</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> common shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> preferred shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Share<BR> premium</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Retained<BR> earnings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Non-executive directors payment <B>(1)</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">2,094</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">30</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance at December 31, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,094</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(1) These amounts relate to the
shares issued in 2017, not to the shares approved for issuance for the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Year 2016</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> common shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Number of<BR> preferred shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Share<BR> premium</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Retained<BR> earnings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left; padding-bottom: 1pt">Non-executive directors payment</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">4,790</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">50</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance at December 31, 2016</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,790</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">50</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>For the year ended
December 31, 2018:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Non-executive director&rsquo;s
payments:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Refers to the common shares issued
or accrued during the year to the Company&rsquo;s non-executive directors pursuant to their letters of appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>For the year ended
December 31, 2017:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Non-executive director&rsquo;s
payments:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Refers to the common shares issued
or accrued during the year to the Company&rsquo;s non-executive directors pursuant to their letters of appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>For the year ended
December 31, 2016:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Non-executive director&rsquo;s
payments:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Refers to the common shares issued
or accrued during the year to the Company&rsquo;s non-executive directors pursuant to their letters of appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Series A Preferred shares:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Upon the former Chief Executive
Officer&rsquo;s resignation in July 2016, the 2,567 series A preferred shares, granted to him on April 20, 2012, were redeemed
(Note 10). As of December 31, 2018, 2017 and 2016, there were no series A preferred shares outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>14</B></TD><TD STYLE="text-align: justify"><B>Voyage Expenses and Vessel Operating Expenses</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Voyage expenses and vessel operating
expenses in the consolidated statements of comprehensive loss consisted of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Voyage expenses consisted of:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">For the year ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Commissions</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">281</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">241</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">151</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Bunkers expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">593</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other voyage expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">191</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">143</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">210</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,188</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,352</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">954</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In respect of the election to apply
IFRS 15 fully retrospectively, for the year ended December 31, 2018, 2017 and 2016, Voyage expenses decreased by $668, $540 and
$317, respectively (Note 2.2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>14</B></TD><TD STYLE="text-align: justify"><B>Voyage Expenses and Vessel Operating Expenses (continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Vessel operating expenses consisted
of:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">For the year ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Crew wages and related costs</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,766</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,645</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,829</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Insurance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">607</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">798</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Spares, repairs and maintenance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,721</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,222</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,699</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Lubricants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">501</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">496</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">462</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Stores</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">783</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">633</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">330</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">247</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,925</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,135</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,688</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>15</B></TD><TD STYLE="text-align: justify"><B>Administrative Expenses</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The amount shown in the consolidated
statements of comprehensive loss is analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">For the year ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">Personnel expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">778</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">628</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,040</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Audit fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">103</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Travelling expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Consulting fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Communication</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Stationery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Greek authorities tax (note 20)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">264</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">265</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">309</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">626</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,356</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,224</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,094</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>16</B></TD><TD STYLE="text-align: justify"><B>Interest Expense and Finance Costs</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The amounts in the consolidated
statements of comprehensive loss are analysed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center">For the year ended December 31,</TD><TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Interest payable on long-term borrowings</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2.004</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,778</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,430</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Bank charges</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Amortization of debt discount</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">84</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other finance expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">325</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">85</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2.056</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,221</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,676</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>17</B></TD><TD STYLE="text-align: justify"><B>Dividends </B></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">Dividends
declared and paid during the years ended December 31, 2018, 2017 and 2016, are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">No
dividends were declared or paid on common shares during the years ended December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">No
dividends declared on common shares during the year ended December 31, 2016. A final payment of $14 was made in January 2016 relating
to dividends declared in 2015. No dividends declared or paid on the Company&rsquo;s Series A Preferred shares during the year ended
December 31, 2016. In July 2016, the 2,567 Series A Preferred shares were redeemed and, as of December 31, 2016, there were no
Series A Preferred shares outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">18</TD><TD STYLE="text-align: justify">Contingencies</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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&rsquo;s vessels. Currently, management is not aware of any such claims or contingent liabilities, which
are material for disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">19</TD><TD STYLE="text-align: justify">Commitments</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company enters into time charter
and bareboat charter arrangements on its vessels. These non-cancellable arrangements had remaining terms between five days to seven
months as of December 31, 2018 and between six days to two months as of December 31, 2017, assuming redelivery at the earliest
possible date. Future net minimum lease revenues receivable under non-cancellable operating leases as of December 31, 2018 and
2017, 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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.6in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Within one year</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">2,991</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">1,548</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 0in">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,991</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,548</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">At December 31,
2018 and 2017, the Company was a party to an operating lease agreement as lessee (note 4). The operating lease relates to the office
premises at a monthly rate of Euro 10,360 (absolute amount) and for a lease period ending January 2, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The future minimum
lease payments under this agreement as of December 31, 2018 and 2017, assuming a Euro: US dollar exchange rate for 2018 1:1.14
and for 2017: 1:1.20, were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.6in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Within one year</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">142</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">149</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">After one year but not more than five years</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">567</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">596</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">More than five years</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">142</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">299</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">851</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,044</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Total rent expense
under operating leases for the years ended December 31, 2018, 2017 and 2016, amounted to $147, $140 and 138 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>20</B></TD><TD STYLE="text-align: justify"><B>Income Tax</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Under the laws of the countries of
the vessel owning companies&rsquo; incorporation and / or vessels&rsquo; registration, vessel owning companies are not subject
to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in vessel
operating expenses in the accompanying consolidated statements of loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: center; text-indent: -14.15pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Greek Authorities Tax</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In January 2013, the tax Law 4110/2013
amended the long-standing 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 shipowning
company and of all its shareholders up to the ultimate beneficial owners. Any tax payable to the state of the flag of each vessel
as a result of its registration with a foreign flag registry (including the Marshall Islands) is subtracted from the amount of
tonnage tax due to the Greek tax authorities. As of December 31, 2018, 2017 and 2016, the tax expense under the law amounted to
$118, $116 and $264, respectively and is included in administrative expenses in the consolidated statements of comprehensive loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>20</B></TD><TD STYLE="text-align: justify"><B>Income Tax (continued)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>U.S. Federal Income
Tax</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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 earn United States (&ldquo;U.S&rdquo;) source shipping income for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Globus believes that to the best
of its knowledge, under &sect; 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, are currently exempt from U.S. federal income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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 &ldquo;Code&rdquo;) and final U.S. Treasury Regulations (the &ldquo;Regs&rdquo;) as currently in effect, all
of which are subject to change, possibly with retroactive effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Application of &sect; 883 of
the Code for the year ended December 31, 2018</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In general, under &sect; 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 (&ldquo;gross transportation income&rdquo;). Absent &sect; 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Shipping income attributable to
transportation exclusively between non-U.S. ports is generally not subject to any U.S. Federal income tax. &ldquo;Shipping income&rdquo;
generally means income that is derived from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(a) the use of vessels;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(b) the hiring or leasing of vessels
for use on a time, operating or bareboat charter basis;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(d) the performance of services directly
related to those uses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Regs provide that a foreign
corporation will qualify for the benefits of &sect; 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Qualified Shareholder Test</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Publicly Traded Test</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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 &ldquo;primarily and regularly traded&rdquo; on an established securities market either in the United States or in a foreign
country that grants an equivalent exemption. Among others, &sect; 883 provides, in relevant part, that the shares of a non-United
States corporation will be considered to be &ldquo;primarily traded&rdquo; 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for
share, per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>20</B></TD><TD STYLE="text-align: justify"><B>Income Tax (continued)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Notwithstanding the foregoing,
&sect; 883 provides, in relevant part, that a class of shares will not be considered to be &ldquo;regularly traded&rdquo; 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In the event that the 5 Percent
Override Rule is triggered, &sect; 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 &sect; 883 to preclude non-qualified shareholders
in such group from owning 50% or more of the total value of the Company&rsquo;s common shares for more than half the number of
days during the taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">For the year ended December 31,
2018, Globus and its wholly owned subsidiaries deriving income from the operation of international ships are organized in foreign
countries that grant equivalent exemptions to corporations organized in the U.S. Globus has more than 50% of the value of its common
stock for at least half of the number days of their taxable year indirectly owned in the form of registered shares by one individual
residing in a qualified foreign country. Accordingly, all of Globus&rsquo; and its ship-owning or operating subsidiaries that rely
on &sect; 883 for exempting U.S. source income from the international operation of ships should not be subject to U.S. federal
income tax for the year ended December 31, 2018. Globus anticipates it and its relevant subsidiaries income will continue to be
exempt in the future from U.S. federal income tax. However, in the future, Globus or its subsidiaries may not continue to satisfy
certain criteria in the U.S. tax laws and as such, may become subject to the U.S. federal income tax on future U.S. source shipping
income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>21</B></TD><TD STYLE="text-align: justify"><B>Financial risk management objectives and policies</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company&rsquo;s
financial liabilities are bank loans, trade and other payables and the financial derivative instrument. The main purpose of these
financial liabilities is to assist in the financing of Company&rsquo;s operations and the acquisition of vessels. The Company has
various financial assets such as trade accounts receivable and cash and short-term deposits, which arise directly from its operations.
The main risks arising from the Company&rsquo;s financial instruments are cash flow interest rate risk, credit risk, liquidity
risk and foreign currency risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Interest rate
risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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&rsquo;s exposure to the risk of changes in market interest rates relates primarily to the Company&rsquo;s
long-term debt obligations with floating interest rates. As of December 31, 2017, no borrowings were at a fixed rate of interest
and as of December 31, 2018, 6% of the Company&rsquo;s bank borrowings were at a fixed rate of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Interest rate
risk table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The following
table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of
the Company&rsquo;s loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 96.4pt; text-align: justify; text-indent: -25.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Increase/(Decrease) in basis<BR> points</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right">Effect on loss</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">$ Libor</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">+15</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(60</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">$ Libor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">+15</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(69</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>21</B></TD><TD STYLE="text-align: justify"><B>Financial risk management objectives and policies (continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Foreign currency risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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&rsquo;s
loss due to changes in the fair value of monetary assets and liabilities. The Company&rsquo;s exposure to foreign currency changes
for all other currencies as of December 31, 2018 and 2017, was not material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.7in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Change in rate</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right">Effect on loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-weight: bold; text-align: left">2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">+10</FONT></TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(284</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">284</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">+10</FONT></TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(251</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">251</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Credit risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company operates
only with recognised, creditworthy third parties including major charterers, commodity traders and government owned entities. Receivable
balances are monitored on an ongoing basis with the result that the Company&rsquo;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&rsquo;s exposure to credit risk arises from default of the counter parties, which are recognised financial
institutions. The Company performs annual evaluations of the relative credit standing of these counter parties. The exposure of
these financial instruments is equal to their carrying amount as indicated in the consolidated statement of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"><B>Concentration of credit risk table:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The following
table provides information with respect to charterers who individually, accounted for approximately more than 10% of the Company&rsquo;s
revenue for the years ended December 31, 2018, 2017 and 2016:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 22%; text-align: justify">A</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3,679</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">21</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,404</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">10</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">B</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">890</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">C</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">D</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,459</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">E</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,802</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">62</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,140</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">66</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,520</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">77</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">17,354</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,852</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,423</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Liquidity risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company mitigates
liquidity risk by managing cash generated by its operations, applying cash collection targets appropriately. The vessels are normally
chartered under time-charter, bareboat and spot agreements where, as per the industry practice, the charterer pays for the transportation
service 15 days in advance, supporting the management of cash generation. Vessel acquisitions are carefully controlled, with authorisation
limits operating up to board level and cash payback periods applied as part of the investment appraisal process. In this way, the
Company maintains a good credit rating to facilitate fund raising. In its funding strategy, the Company&rsquo;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The table below
summarises the maturity profile of the Company&rsquo;s financial liabilities at December 31, 2018 and 2017, assuming that the banks
will not demand the repayment of the loans before their maturity, based on contractual undiscounted cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>21</B></TD><TD STYLE="text-align: justify"><B>Financial risk management objectives and policies (continued)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">Year ended December 31, 2018*</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Less than 3 <BR> months</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">3 to 12<BR> months</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1 to 5<BR> years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">More than 5<BR> years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify">Long-term debt</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,720</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">24,502</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">16,465</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">42,687</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Accrued liabilities and other payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,319</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Trade payables</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,433</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,433</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,472</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,502</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">16,465</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">50,439</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">* This table includes
both the derivative component and the non-derivative host.of the hybrid agreement with Firment Shipping Credit Facility (see Note
12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">Year ended December 31, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Less than 3<BR> months</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">3 to 12<BR> months</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1 to 5<BR> years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">More than 5<BR> years</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify">Long-term debt</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,145</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">12,989</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">30,285</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">44,419</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Accrued liabilities and other payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,455</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Trade payables</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,258</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,258</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,858</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,989</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,285</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">50,132</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Capital
management</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 96.4pt; text-align: justify; text-indent: -60.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The primary objective
of the Company&rsquo;s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order
to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it,
in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment
to shareholders, return capital to shareholders or issue new shares as well as managing the outstanding level of debt. Lenders
may impose capital structure or solvency ratios (refer to note 12). No changes were made in the objectives, policies or processes
during the years ended December 31, 2018 and 2017. The Company monitors capital using the ratio of net debt to book capitalisation
adjusted for the market value of the Company&rsquo;s vessels plus net debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company includes
within net debt, interest bearing loans gross of unamortized debt discount, less cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Adjusted book
capitalization refers to total equity adjusted for the market value of the Company&rsquo;s vessels. The Company&rsquo;s policy
is to keep the ratio described above between a range of 60% - 80%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt/normal Times New Roman, Times, Serif; width: 85%; margin-left: 0.75in; border-collapse: collapse; font-size-adjust: none; font-stretch: normal">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="6" STYLE="font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">Interest bearing loans</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">37,863</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">41,660</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Cash (including restricted cash)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,396</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,966</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">Net debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,467</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,694</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,050</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,968</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Adjustment for the market value of vessels (charter-free)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(27,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(31,970</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Adjusted book capitalization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,550</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,998</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Adjusted book capitalization plus net debt</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">50,017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">50,692</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">Ratio</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">73</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">76</TD><TD STYLE="font-weight: bold; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company&rsquo;s
objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated
above is not consistent with the International Financial Reporting Standards (&ldquo;IFRS&rdquo;) definition of debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The following
reconciliation is provided:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt/normal Times New Roman, Times, Serif; width: 85%; margin-left: 0.75in; border-collapse: collapse; font-size-adjust: none; font-stretch: normal">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="6" STYLE="font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">Debt in accordance with IFRS (long and short-term borrowings)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">36,868</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">41,538</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Add: Unamortized debt discount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">295</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">122</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -9.45pt; padding-left: 9.45pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,660</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Less: Cash and bank balances and bank deposits (including restricted cash)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,396</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,966</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -9.45pt; padding-left: 9.45pt">Net debt</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35,767</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38,694</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>22</B></TD><TD STYLE="text-align: justify"><B>Fair values</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Carrying amounts
and fair values</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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 2.28). 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Carrying amount</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="14" STYLE="font-weight: bold; text-align: center">Fair value</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-style: italic; border-bottom: Black 1pt solid">(in thousands of USD)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other financial<BR> liabilities</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">December&nbsp;31, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Financial liabilities measured at fair value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left; padding-bottom: 1pt">Derivative financial instruments</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">831</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">831</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">831</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">831</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Financial liabilities not measured at fair value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Long-term borrowings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,163</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,030</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">37,030</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">37,163</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Carrying amount</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="14" STYLE="font-weight: bold; text-align: center">Fair value</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-style: italic; border-bottom: Black 1pt solid">(in thousands of USD)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other financial<BR> liabilities</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">December&nbsp;31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Financial liabilities not measured at fair value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left; padding-bottom: 1pt">Long-term borrowings</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">41,538</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">41,219</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">41,219</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">41,538</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><B>Measurement of fair values</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><B>Valuation techniques and significant
unobservable inputs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><U>Financial instruments measured at fair value</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in">
<TR>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B><I>Type</I></B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B><I>Valuation Techniques </I></B>&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B><I>Significant</I></B></FONT></P>
                                                           <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B><I>unobservable inputs</I></B></FONT></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Derivative financial instruments</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Black-Scholes model</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Refer to Note <FONT STYLE="font-family: Times New Roman, Times, Serif">2.30</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><U>Financial instruments not measured at fair value</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in">
<TR>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B><I>Type</I></B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B><I>Valuation Techniques</I></B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B><I>Significant</I></B></FONT></P>
                                                           <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B><I>unobservable inputs</I></B></FONT></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Long-term borrowings</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Discounted cash flow</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Discount rate</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Transfers between Level 1, 2 and 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">There were no transfers
between these levels in 2017 and 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>


<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>GLOBUS MARITIME LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(Amounts presented in thousands of U.S. Dollars- except for share,
per share and warrants data, unless otherwise stated)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>23</B></TD><TD STYLE="text-align: justify"><B>Events after the reporting date</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">On March 13, 2019, the Company signed
a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior
convertible note (the &ldquo;Convertible Note&rdquo;) that is convertible into shares of the Company&rsquo;s common stock, par
value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible
Note matures upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). As of the date hereof, no conversion of the Convertible
Note has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Convertible Note provides for
interest to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&rsquo;s issuance
unless the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares
of the Company, if certain conditions described within the Convertible Note are met. With respect to the Convertible Note, the
Company also signed a registration rights agreement with the private investor pursuant to which it agreed to register for resale
the shares that could be issued pursuant to the Convertible Note. The registration rights agreement contains liquidated damages
if the Company is unable to register for resale the shares into which the Convertible Note may be converted, and maintain such
registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 39; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.5
<SEQUENCE>2
<FILENAME>tv517220_ex1-5.htm
<DESCRIPTION>EXHIBIT 1.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 1.5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLES OF AMENDMENT TO THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLES OF INCORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">GLOBUS MARITIME LIMITED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">UNDER SECTION 90 OF THE MARSHALL ISLANDS BUSINESS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">CORPORATIONS ACT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">I, Athanasios Feidakis,
as the Chief Executive Officer of Globus Maritime Limited, a Marshall Islands corporation (the &ldquo;<U>Corporation</U>&rdquo;),
for the purpose of amending the Articles of Incorporation of said Corporation hereby certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The name of the Corporation is: Globus Maritime Limited</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Articles of Incorporation of Globus Maritime Limited were filed under the laws of Jersey on
July 26, 2006 in Jersey and the Corporation was redomiciled into the Republic of the Marshall Islands by filing Articles of Domestication
and Articles of Incorporation on the 24<SUP>th</SUP> day of November 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Section III of the Articles of Incorporation is hereby amended as follows :</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;Reverse Stock Split. As
of the commencement of business on October 15, 2018 (the &ldquo;<B>Reverse Stock Split Effective Date</B>&rdquo;), each ten (10)
Common Shares issued and outstanding immediately prior to the Reverse Stock Split Effective Date either issued and outstanding
or held by the Corporation as treasury stock shall be combined into one (1) validly issued, fully paid and non-assessable Common
Share without any further action by the Corporation or the holder thereof (the &ldquo;<B>Reverse Stock Split</B>&rdquo;); provided
that no fractional shares shall be issued to any holder and that in lieu of issuing any such fractional shares, fractional shares
resulting from the Reverse Stock Split will be rounded down to the nearest whole share and provided, further, that shareholders
who would otherwise be entitled to receive fractional shares because they hold a number of shares not evenly divisible by the ratio
of the Reverse Stock Split will receive a cash payment (without interest and subject to applicable withholding taxes) in an amount
per share equal to the closing price per Common Share on NASDAQ on the trading day immediately preceding the Reverse Stock Split
Effective Date, as adjusted for the reverse stock split as appropriate. Each certificate, if any, that immediately prior to the
Reverse Stock Split Effective Date represented Common Shares (&ldquo;<B>Old Certificates</B>&rdquo;), shall thereafter represent
that number of Common Shares into which the Common Shares represented by the Old Certificate shall have been combined, subject
to the elimination of fractional shares as described above. The reverse stock split described in this paragraph shall not change
the number of Common Shares authorized to be issued or the par value of the Common Shares. The stated capital of the Corporation
shall be reduced from $ 128,260.31 to $12,826.03 which may be further adjusted for the cancellation of fractional shares, and the
reduction of $115,434.28 which may be further adjusted for the cancellation of fractional shares, shall be allocated to surplus.
No change was made to the number of registered shares of Class B Shares or Preferred Shares the Corporation is authorized to issue
or to the par value of Class B Shares or Preferred Shares.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">All of the other provisions of the Articles of Incorporation shall remain unchanged.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The amendment to the Articles of Incorporation was authorized by vote of the holders of a majority
of all outstanding shares entitled to vote thereon at the meeting of shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
I have executed these Articles of Amendment to the Articles of Incorporation on this 11<SUP>th</SUP> day of October 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><U>/s/ Athanasios Feidakis&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Name:
Athanasios Feidakis</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Title:
Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 2in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.42
<SEQUENCE>3
<FILENAME>tv517220_ex4-42.htm
<DESCRIPTION>EXHIBIT 4.42
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 4.42</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Amendment
No. 1 to SECURITIES PURCHASE AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This <B>AMENDMENT NO.
1 </B>(this &ldquo;<B>Amendment</B>&rdquo;) to the <B>SECURITIES PURCHASE AGREEMENT</B> dated as March 13, 2019 (the &ldquo;<B>Agreement</B>&rdquo;)
is made as of this ___ day of March, 2019, by and among Globus Maritime Limited, a Marshall Islands corporation (the &ldquo;<B>Company</B>&rdquo;),
and Arnaki Ltd., a British Virgin Islands company and the sole Buyer under the Agreement (&ldquo;<B>Buyer</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment is made to correct a typographical error included within Section 4(n)(ix) of the Agreement, wherein the term &ldquo;Excluded
Securities&rdquo; was listed as defined within the Notes, but due to a ministerial error was not defined therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
9(e) of the Agreement provided that the Agreement could be amended upon the written consent of the Company and the Required Holders.
On the date hereof, Arnaki Ltd. is the only Holder and therefore the only party other than the Company whose consent is required
in connection with the adoption of this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;References
below to this &ldquo;Agreement&rdquo; refer to the Agreement as amended by this Amendment. Other capitalized terms used but not
defined herein shall be as defined within the Agreement or the other Transaction Documents, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and each Buyer hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Replacement of Section 4(n)(ix)<FONT STYLE="font-weight: normal">. In Section 4(n)(ix) is hereby deleted and replaced in
its entirety as follows:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">4(n)(ix): The
restrictions contained in this Section 4(n) shall not apply in connection with the issuance of any (i) Common Shares or Class B
Shares or standard options to purchase Common Shares or Class B Shares issued to directors, officers or employees of the Company
for services rendered to the Company in their capacity as such, provided that (A) all such issuances (taking into account the Common
Shares or Class B Shares issuable upon exercise of such options) after the Subscription Date pursuant to this clause (i) do not,
in the aggregate, exceed more than 5% of the Common Shares (on an as converted or exercised basis) issued and outstanding immediately
prior to the Subscription Date and (B) the exercise price of any such options is not lowered, none of such options are amended
to increase the number of shares issuable thereunder and none of the terms or conditions of any such options are otherwise materially
changed in any manner that adversely affects any of the Buyers; (ii) Common Shares issued upon the conversion or exercise of Convertible
Securities (other than standard options to purchase Common Shares that are covered by clause (i) above) issued prior to the Subscription
Date, provided that the conversion price of any such Convertible Securities (other than standard options to purchase Common Shares
that are covered by clause (i) above) is not lowered, none of such Convertible Securities (other than standard options to purchase
Common Shares that are covered by clause (i) above) are amended to increase the number of shares issuable thereunder and none of
the terms or conditions of any such Convertible Securities (other than standard options to purchase Common Shares that are covered
by clause (i) above) are otherwise materially changed in any manner that adversely affects any of the Buyers; and (iii) the Common
Shares issuable upon conversion of the Notes or otherwise pursuant to the terms of the Notes; provided, that the terms of the Notes
are not amended, modified or changed on or after the Subscription Date (other than antidilution adjustments pursuant to the terms
thereof in effect as of the Subscription Date). The Company shall not circumvent the provisions of this Section 4(n) by providing
terms or conditions to one Buyer that are not provided to all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No Other Amendments. <FONT STYLE="font-weight: normal">Except as amended by Section 1 of this Amendment, the Agreement otherwise
remains in full force and effect.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>MISCELLANEOUS.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. All questions concerning the construction, validity, enforcement and interpretation of this Amendment
shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of
any jurisdictions other than the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Amendment may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>signature page follow</I>s]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">2</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
Buyer and the Company duly executed this Amendment as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 48%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>COMPANY:</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt"><B>GLOBUS MARITIME LIMITED</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">By: &nbsp;&nbsp;&nbsp;&nbsp;<U>/S/
        Athanasios Feidakis&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR> Name: Athanasios Feidakis</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: 0pt">Title:&nbsp;&nbsp;&nbsp;President, Chief Executive
        officer and Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 48%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BUYER:</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>ARNAKI LTD.</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">By: &nbsp;&nbsp;&nbsp;&nbsp;<U>/S/
        Moses Benaim&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;Moses Benaim</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.9pt; text-indent: -25.9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;Director</P></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: left">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12
<SEQUENCE>4
<FILENAME>tv517220_ex12.htm
<DESCRIPTION>EXHIBIT 12
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 12.1/12/2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 0.25in">I, Athanasios Feidakis, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; text-indent: 0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have
reviewed this annual report on Form 20-F of Globus Maritime Limited;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in
this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I am
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company
and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the
company, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the
period in which this report is being prepared;</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(b)</TD>
    <TD>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(c)</TD>
    <TD>Evaluated the effectiveness of the company&rsquo;s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(d)</TD>
    <TD>Disclosed in this report any change in the company&rsquo;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company&rsquo;s internal control over financial reporting; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have
disclosed, based on my most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors and
the audit committee of the company&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(a)</TD>
    <TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s ability to record, process, summarize and report financial information; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(b)</TD>
    <TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Date: March 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid">/s/ Athanasios Feidakis</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name: Athanasios Feidakis</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: President, Chief Executive Officer and Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13
<SEQUENCE>5
<FILENAME>tv517220_ex13.htm
<DESCRIPTION>EXHIBIT 13
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 13.1/13.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO 18 U.S.C. SECTION
1350,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECTION 906 OF THE U.S. SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In connection with this annual report of Globus Maritime Limited
(the &ldquo;Company&rdquo;) on Form 20-F for the year ended December 31, 2018 as filed with the Securities and Exchange Commission
on or about the date hereof (the &ldquo;Report&rdquo;), I, Athanasios Feidakis, President, Chief Executive Officer and Chief Financial
Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(1) the Report fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(2) the information contained in the Report fairly presents, in
all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: March 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 48%; padding-bottom: 1.5pt; border-bottom: Black 1pt solid">/s/ Athanasios Feidakis</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name: Athanasios Feidakis</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: President, Chief Executive Officer and Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>6
<FILENAME>tv517220_ex15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 15.1</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in the Registration
Statement (Form F-3 No.&nbsp;333-222580) of Globus Maritime Limited of our report dated March&nbsp;28, 2019<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT>,
with respect to the consolidated financial statements of Globus Maritime Limited included in this Annual Report (Form 20-F) for
the year ended December&nbsp;31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Ernst&nbsp;&amp; Young (Hellas) Certified Auditors Accountants
S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March&nbsp;28, 2019<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>7
<FILENAME>glbs-20181231.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Created with SAP Disclosure Management 10.1 http://www.sap.com-->
<!--Copyright 2017 SAP SE. All Rights Reserved.-->
<xbrl xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:glbs="http://www.globusmaritime.gr/20181231" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:ifrs-full="http://xbrl.ifrs.org/taxonomy/2018-03-16/ifrs-full" xmlns:dei="http://xbrl.sec.gov/dei/2018-01-31" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns="http://www.xbrl.org/2003/instance">
  <link:schemaRef xlink:type="simple" xlink:href="glbs-20181231.xsd" />
  <unit id="shares">
    <measure>shares</measure>
  </unit>
  <unit id="USD">
    <measure>iso4217:USD</measure>
  </unit>
  <unit id="EPS">
    <divide>
      <unitNumerator>
        <measure>iso4217:USD</measure>
      </unitNumerator>
      <unitDenominator>
        <measure>shares</measure>
      </unitDenominator>
    </divide>
  </unit>
  <unit id="pure">
    <measure>pure</measure>
  </unit>
  <unit id="EUR">
    <measure>iso4217:EUR</measure>
  </unit>
  <unit id="EuroUSD">
    <divide>
      <unitNumerator>
        <measure>iso4217:EUR</measure>
      </unitNumerator>
      <unitDenominator>
        <measure>iso4217:USD</measure>
      </unitDenominator>
    </divide>
  </unit>
  <context id="FYp0YTE">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1YTE">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1Q4e">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_ComponentsOfEquityAxis_IssuedCapitalMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm2YTE_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2Q4e_ComponentsOfEquityAxis_IssuedCapitalMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm1YTE_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_ComponentsOfEquityAxis_IssuedCapitalMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1Q4e_ComponentsOfEquityAxis_IssuedCapitalMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_ComponentsOfEquityAxis_IssuedCapitalMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ComponentsOfEquityAxis_RetainedEarningsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm2Q4e">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_GlobusShipmanagementCorpMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:GlobusShipmanagementCorpMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DevoceanMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DominaMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_ArtfulShipholdingSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:ArtfulShipholdingSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_LongevityMaritimeLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:LongevityMaritimeLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_DeferredDryDockingCostsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DeferredDryDockingCostsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="d31-03-2018_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-03-31</endDate>
    </period>
  </context>
  <context id="d30-09-2017_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-09-30</endDate>
    </period>
  </context>
  <context id="d30-06-2016_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-06-30</endDate>
    </period>
  </context>
  <context id="FYm1YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm3YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankAndHamburgCommercialBankAGMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankAndHamburgCommercialBankAGMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_NewIFRSsAxis_IFRS16LeasesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:NewIFRSsAxis">glbs:IFRS16LeasesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_NewIFRSsAxis_IFRS16LeasesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:NewIFRSsAxis">glbs:IFRS16LeasesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="d13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ConvertibleNoteMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2019-01-01</startDate>
      <endDate>2019-03-13</endDate>
    </period>
  </context>
  <context id="i13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ConvertibleNoteMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2019-03-13</instant>
    </period>
  </context>
  <context id="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ValuationTechniquesUsedInFairValueMeasurementAxis">glbs:BlackScholesOptionPricingModelMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementIIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementIIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:CyberonicaSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:CyberonicaSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:CyberonicaSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:CyberonicaSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:CyberonicaSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="i30.04.2015_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-04-30</instant>
    </period>
  </context>
  <context id="i31-12-2013_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2013-12-31</instant>
    </period>
  </context>
  <context id="FYm3YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="d08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-02-08</endDate>
    </period>
  </context>
  <context id="i08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-02-08</instant>
    </period>
  </context>
  <context id="d10-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-02-10</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="i31-01-2016_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-01-31</instant>
    </period>
  </context>
  <context id="d31-01-2016_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-01-31</endDate>
    </period>
  </context>
  <context id="d08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-02-08</endDate>
    </period>
  </context>
  <context id="i08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-02-08</instant>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:EolosShipmanagementSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:EolosShipmanagementSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:EolosShipmanagementSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="d18-08-2016_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:AffiliatedCompanyOfCompanysCEOMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-08-18</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:AffiliatedCompanyOfCompanysCEOMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:AffiliatedCompanyOfCompanysCEOMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:AffiliatedCompanyOfCompanysCEOMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:SilanerInvestmentsLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="d08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-02-08</endDate>
    </period>
  </context>
  <context id="i08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-02-08</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ExecutiveDirectorsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentShippingIncMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="d30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentShippingIncMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-11-30</endDate>
    </period>
  </context>
  <context id="i30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentShippingIncMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-11-30</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentShippingIncMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentShippingIncMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:FirmentTradingLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">glbs:CarryingAmountIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ShipsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:DryDockingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfPropertyPlantAndEquipmentAxis_SupramaxMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:SupramaxMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfPropertyPlantAndEquipmentAxis_PanamaxMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">glbs:PanamaxMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:PreferenceSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:PreferenceSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:PreferenceSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm3Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm2YTE_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm3Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="FYm2YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="d31.01.2018_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-01-31</endDate>
    </period>
  </context>
  <context id="i19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:October2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-10-19</instant>
    </period>
  </context>
  <context id="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:October2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-10-19</endDate>
    </period>
  </context>
  <context id="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember_RangeAxis_TopOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:October2017PrivatePlacementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-10-19</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:October2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:October2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesOutstandingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesOutstandingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm2Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:ClassBCommonSharesOutstandingMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="FYm1YTE_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:February2017PrivatePlacementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="d20.10.2016_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-10-20</endDate>
    </period>
  </context>
  <context id="i19-10-2016_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-10-19</instant>
    </period>
  </context>
  <context id="i20-10-2016_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-10-20</instant>
    </period>
  </context>
  <context id="i14-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-10-14</instant>
    </period>
  </context>
  <context id="i15-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-10-15</instant>
    </period>
  </context>
  <context id="d15-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-10-15</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ArtfulShipholdingSALongevityMaritimeLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ArtfulShipholdingSALongevityMaritimeLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_CategoriesOfRelatedPartiesAxis_GlobusMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:GlobusMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:AdvanceBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_NotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">glbs:LaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_LaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">glbs:LaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_LaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">glbs:LaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_LaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">glbs:LaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:FirmentShippingIncLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="i28-02-2015_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-02-28</instant>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_PeriodOfInterestRatesAxis_InterestPeriodThreeMonthsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:PeriodOfInterestRatesAxis">glbs:InterestPeriodThreeMonthsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_PeriodOfInterestRatesAxis_InterestPeriodOneMonthMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:PeriodOfInterestRatesAxis">glbs:InterestPeriodOneMonthMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="d03-03-2015_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-03-03</endDate>
    </period>
  </context>
  <context id="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DevoceanMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DominaMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheCMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DevoceanMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DominaMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheCMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DevoceanMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DominaMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheCMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-07-10</endDate>
    </period>
  </context>
  <context id="FYm3Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="i30-06-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2011-06-30</instant>
    </period>
  </context>
  <context id="FYp0Q4e_RangeAxis_WeightedAverageMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:WeightedAverageMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="i10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-07-10</instant>
    </period>
  </context>
  <context id="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_TopOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DevoceanMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-07-10</endDate>
    </period>
  </context>
  <context id="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DominaMaritimeLtdMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-07-10</endDate>
    </period>
  </context>
  <context id="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:HamburgCommercialBankAGLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheCMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">glbs:DulacMaritimeSAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-07-10</endDate>
    </period>
  </context>
  <context id="d30-06-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-06-30</endDate>
    </period>
  </context>
  <context id="FYm1Q4e_RangeAxis_WeightedAverageMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:WeightedAverageMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="d30-09-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-09-30</endDate>
    </period>
  </context>
  <context id="d03-03-2015_BorrowingsByNameAxis_CreditSuisseAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:CreditSuisseAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-03-03</endDate>
    </period>
  </context>
  <context id="d31-07-2015_BorrowingsByNameAxis_CreditSuisseAGLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:CreditSuisseAGLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-07-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:ArtfulAdvanceMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:LongevityAdvanceMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:ArtfulAdvanceMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:LongevityAdvanceMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:MacquarieBankInternationalLimitedLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAAndTrancheBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">glbs:DVBBankLoanAgreementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="glbs:CreditFacilityAxis">glbs:TrancheAAndTrancheBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:NumberOfOrdinarySharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:NonExecutiveDirectorsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="d30-06-2016_CategoriesOfRelatedPartiesAxis_ChiefExecutiveOfficerMember_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ChiefExecutiveOfficerMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">glbs:SeriesaPreferredSharesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-06-30</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_TypesOfRisksAxis_InterestRateRiskMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ifrs-full:InterestRateRiskMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_TypesOfRisksAxis_InterestRateRiskMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ifrs-full:InterestRateRiskMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_TypesOfRisksAxis_CurrencyRiskMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ifrs-full:CurrencyRiskMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_TypesOfRisksAxis_CurrencyRiskMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ifrs-full:CurrencyRiskMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_MajorChartererMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_MajorChartererBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_MajorChartererCMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererCMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_MajorChartererDMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererDMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_OtherMajorCharterersMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:OtherMajorCharterersMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_MajorChartererMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_MajorChartererBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_MajorChartererCMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererCMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_MajorChartererDMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererDMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_OtherMajorCharterersMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:OtherMajorCharterersMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_MajorChartererMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_MajorChartererBMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererBMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_MajorChartererCMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererCMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_MajorChartererDMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererDMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_OtherMajorCharterersMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:OtherMajorCharterersMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_NotLaterThanThreeMonthsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanThreeMonthsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_NotLaterThanThreeMonthsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanThreeMonthsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0YTE_CounterpartiesAxis_MajorChartererEMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererEMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2018-01-01</startDate>
      <endDate>2018-12-31</endDate>
    </period>
  </context>
  <context id="FYm1YTE_CounterpartiesAxis_MajorChartererEMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererEMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="FYm2YTE_CounterpartiesAxis_MajorChartererEMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">glbs:MajorChartererEMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="FYp0Q4e_RangeAxis_BottomOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_RangeAxis_TopOfRangeMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_LevelsOfFairValueHierarchyAxis_Level3OfFairValueHierarchyMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MeasurementAxis_AtFairValueMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MeasurementAxis">ifrs-full:AtFairValueMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MeasurementAxis">ifrs-full:NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:MeasurementAxis">ifrs-full:NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="FYp0Q4e_LevelsOfFairValueHierarchyAxis_Level2OfFairValueHierarchyMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2018-12-31</instant>
    </period>
  </context>
  <context id="FYm1Q4e_LevelsOfFairValueHierarchyAxis_Level2OfFairValueHierarchyMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="i13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteIIMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001499780</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">glbs:ConvertibleNoteIIMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2019-03-13</instant>
    </period>
  </context>
  <dei:EntityRegistrantName contextRef="FYp0YTE">GLOBUS MARITIME LTD</dei:EntityRegistrantName>
  <dei:TradingSymbol contextRef="FYp0YTE">GLBS</dei:TradingSymbol>
  <dei:EntityCentralIndexKey contextRef="FYp0YTE">0001499780</dei:EntityCentralIndexKey>
  <dei:DocumentType contextRef="FYp0YTE">20-F</dei:DocumentType>
  <dei:DocumentPeriodEndDate contextRef="FYp0YTE">2018-12-31</dei:DocumentPeriodEndDate>
  <dei:AmendmentFlag contextRef="FYp0YTE">false</dei:AmendmentFlag>
  <dei:DocumentFiscalYearFocus contextRef="FYp0YTE">2018</dei:DocumentFiscalYearFocus>
  <dei:DocumentFiscalPeriodFocus contextRef="FYp0YTE">FY</dei:DocumentFiscalPeriodFocus>
  <dei:CurrentFiscalYearEndDate contextRef="FYp0YTE">--12-31</dei:CurrentFiscalYearEndDate>
  <dei:EntityWellKnownSeasonedIssuer contextRef="FYp0YTE">No</dei:EntityWellKnownSeasonedIssuer>
  <dei:EntityVoluntaryFilers contextRef="FYp0YTE">No</dei:EntityVoluntaryFilers>
  <dei:EntityCurrentReportingStatus contextRef="FYp0YTE">Yes</dei:EntityCurrentReportingStatus>
  <dei:EntityFilerCategory contextRef="FYp0YTE">Non-accelerated Filer</dei:EntityFilerCategory>
  <dei:EntityCommonStockSharesOutstanding contextRef="FYp0Q4e" unitRef="shares" decimals="0">3209327</dei:EntityCommonStockSharesOutstanding>
  <dei:EntityEmergingGrowthCompany contextRef="FYp0YTE">false</dei:EntityEmergingGrowthCompany>
  <dei:EntityShellCompany contextRef="FYp0YTE">false</dei:EntityShellCompany>
  <dei:EntityExTransitionPeriod contextRef="FYp0YTE">false</dei:EntityExTransitionPeriod>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE" unitRef="USD" decimals="-3">17354000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE" unitRef="USD" decimals="-3">13852000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:Revenue contextRef="FYp0YTE" unitRef="USD" decimals="-3">17354000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="FYm1YTE" unitRef="USD" decimals="-3">13883000</ifrs-full:Revenue>
  <ifrs-full:DepreciationExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">4601000</ifrs-full:DepreciationExpense>
  <ifrs-full:DepreciationExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">4854000</ifrs-full:DepreciationExpense>
  <glbs:DepreciationOfDryDockingCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">1166000</glbs:DepreciationOfDryDockingCosts>
  <glbs:DepreciationOfDryDockingCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">862000</glbs:DepreciationOfDryDockingCosts>
  <ifrs-full:AdministrativeExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">1356000</ifrs-full:AdministrativeExpense>
  <ifrs-full:AdministrativeExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">1224000</ifrs-full:AdministrativeExpense>
  <glbs:AdministrativeExpenseRelatedPartyTransactions contextRef="FYp0YTE" unitRef="USD" decimals="-3">528000</glbs:AdministrativeExpenseRelatedPartyTransactions>
  <glbs:AdministrativeExpenseRelatedPartyTransactions contextRef="FYm1YTE" unitRef="USD" decimals="-3">514000</glbs:AdministrativeExpenseRelatedPartyTransactions>
  <ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost>
  <ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost>
  <ifrs-full:OtherOperatingIncomeExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">2000</ifrs-full:OtherOperatingIncomeExpense>
  <ifrs-full:OtherOperatingIncomeExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">83000</ifrs-full:OtherOperatingIncomeExpense>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">-1448000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">-4015000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:RevenueFromInterest contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromInterest contextRef="FYm1YTE" unitRef="USD" decimals="-3">3000</ifrs-full:RevenueFromInterest>
  <ifrs-full:FinanceCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">2056000</ifrs-full:FinanceCosts>
  <ifrs-full:FinanceCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">2221000</ifrs-full:FinanceCosts>
  <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss contextRef="FYp0YTE" unitRef="USD" decimals="-3">67000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss>
  <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss contextRef="FYm1YTE" unitRef="USD" decimals="-3">-242000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss>
  <ifrs-full:ProfitLoss contextRef="FYp0YTE" unitRef="USD" decimals="-3">-3568000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="FYm1YTE" unitRef="USD" decimals="-3">-6475000</ifrs-full:ProfitLoss>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="FYp0YTE" unitRef="USD" decimals="-3">-3568000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="FYm1YTE" unitRef="USD" decimals="-3">-6475000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYm1YTE" unitRef="USD" decimals="-3">31000</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:ServicesExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">1188000</ifrs-full:ServicesExpense>
  <ifrs-full:ServicesExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">1352000</ifrs-full:ServicesExpense>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYp0YTE" unitRef="USD" decimals="-3">40000</glbs:DirectorsCompensationSharebasedPayment>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm1YTE" unitRef="USD" decimals="-3">40000</glbs:DirectorsCompensationSharebasedPayment>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="FYp0YTE" unitRef="EPS" decimals="4">-1.11</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="FYm1YTE" unitRef="EPS" decimals="4">-2.51</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE" unitRef="USD" decimals="-3">8423000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYm2YTE" unitRef="USD" decimals="-3">278000</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:Revenue contextRef="FYm2YTE" unitRef="USD" decimals="-3">8701000</ifrs-full:Revenue>
  <ifrs-full:ServicesExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">954000</ifrs-full:ServicesExpense>
  <ifrs-full:DepreciationExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">5014000</ifrs-full:DepreciationExpense>
  <glbs:DepreciationOfDryDockingCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">1005000</glbs:DepreciationOfDryDockingCosts>
  <ifrs-full:AdministrativeExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">2094000</ifrs-full:AdministrativeExpense>
  <glbs:AdministrativeExpenseRelatedPartyTransactions contextRef="FYm2YTE" unitRef="USD" decimals="-3">351000</glbs:AdministrativeExpenseRelatedPartyTransactions>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm2YTE" unitRef="USD" decimals="-3">50000</glbs:DirectorsCompensationSharebasedPayment>
  <ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost contextRef="FYm2YTE" unitRef="USD" decimals="-3">2257000</ifrs-full:GainsLossesRecognisedWhenControlInSubsidiaryIsLost>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">-7228000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:RevenueFromInterest contextRef="FYm2YTE" unitRef="USD" decimals="-3">5000</ifrs-full:RevenueFromInterest>
  <ifrs-full:FinanceCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">2676000</ifrs-full:FinanceCosts>
  <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss contextRef="FYm2YTE" unitRef="USD" decimals="-3">74000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss>
  <ifrs-full:ProfitLoss contextRef="FYm2YTE" unitRef="USD" decimals="-3">-9825000</ifrs-full:ProfitLoss>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="FYm2YTE" unitRef="USD" decimals="-3">-9825000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="FYm2YTE" unitRef="EPS" decimals="4">-37.73</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:OtherOperatingIncomeExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">-30000</ifrs-full:OtherOperatingIncomeExpense>
  <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="FYp0YTE" unitRef="USD" decimals="-3">-131000</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
  <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
  <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
  <glbs:OperatingExpense1 contextRef="FYp0YTE" unitRef="USD" decimals="-3">9925000</glbs:OperatingExpense1>
  <glbs:OperatingExpense1 contextRef="FYm1YTE" unitRef="USD" decimals="-3">9135000</glbs:OperatingExpense1>
  <glbs:OperatingExpense1 contextRef="FYm2YTE" unitRef="USD" decimals="-3">8688000</glbs:OperatingExpense1>
  <ifrs-full:Ships contextRef="FYp0Q4e" unitRef="USD" decimals="-3">83750000</ifrs-full:Ships>
  <ifrs-full:Ships contextRef="FYm1Q4e" unitRef="USD" decimals="-3">87320000</ifrs-full:Ships>
  <ifrs-full:OfficeEquipment contextRef="FYp0Q4e" unitRef="USD" decimals="-3">120000</ifrs-full:OfficeEquipment>
  <ifrs-full:OfficeEquipment contextRef="FYm1Q4e" unitRef="USD" decimals="-3">43000</ifrs-full:OfficeEquipment>
  <ifrs-full:NoncurrentAssets contextRef="FYp0Q4e" unitRef="USD" decimals="-3">83880000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="FYm1Q4e" unitRef="USD" decimals="-3">87373000</ifrs-full:NoncurrentAssets>
  <ifrs-full:TradeAndOtherCurrentReceivables contextRef="FYp0Q4e" unitRef="USD" decimals="-3">577000</ifrs-full:TradeAndOtherCurrentReceivables>
  <ifrs-full:TradeAndOtherCurrentReceivables contextRef="FYm1Q4e" unitRef="USD" decimals="-3">177000</ifrs-full:TradeAndOtherCurrentReceivables>
  <ifrs-full:Inventories contextRef="FYp0Q4e" unitRef="USD" decimals="-3">650000</ifrs-full:Inventories>
  <ifrs-full:Inventories contextRef="FYm1Q4e" unitRef="USD" decimals="-3">661000</ifrs-full:Inventories>
  <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="FYp0Q4e" unitRef="USD" decimals="-3">171000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
  <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="FYm1Q4e" unitRef="USD" decimals="-3">426000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
  <ifrs-full:RestrictedCashAndCashEquivalents contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1350000</ifrs-full:RestrictedCashAndCashEquivalents>
  <ifrs-full:RestrictedCashAndCashEquivalents contextRef="FYm1Q4e" unitRef="USD" decimals="-3">210000</ifrs-full:RestrictedCashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="FYp0Q4e" unitRef="USD" decimals="-3">46000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="FYm1Q4e" unitRef="USD" decimals="-3">2756000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CurrentAssets contextRef="FYp0Q4e" unitRef="USD" decimals="-3">2794000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="FYm1Q4e" unitRef="USD" decimals="-3">4230000</ifrs-full:CurrentAssets>
  <ifrs-full:Assets contextRef="FYp0Q4e" unitRef="USD" decimals="-3">86674000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="FYm1Q4e" unitRef="USD" decimals="-3">91603000</ifrs-full:Assets>
  <ifrs-full:IssuedCapital contextRef="FYp0Q4e" unitRef="USD" decimals="-3">13000</ifrs-full:IssuedCapital>
  <ifrs-full:IssuedCapital contextRef="FYm1Q4e" unitRef="USD" decimals="-3">13000</ifrs-full:IssuedCapital>
  <ifrs-full:SharePremium contextRef="FYp0Q4e" unitRef="USD" decimals="-3">140334000</ifrs-full:SharePremium>
  <ifrs-full:SharePremium contextRef="FYm1Q4e" unitRef="USD" decimals="-3">139684000</ifrs-full:SharePremium>
  <ifrs-full:RetainedEarnings contextRef="FYp0Q4e" unitRef="USD" decimals="-3">-99297000</ifrs-full:RetainedEarnings>
  <ifrs-full:RetainedEarnings contextRef="FYm1Q4e" unitRef="USD" decimals="-3">-95729000</ifrs-full:RetainedEarnings>
  <ifrs-full:Equity contextRef="FYp0Q4e" unitRef="USD" decimals="-3">41050000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm1Q4e" unitRef="USD" decimals="-3">43968000</ifrs-full:Equity>
  <ifrs-full:LongtermBorrowings contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1500000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</ifrs-full:LongtermBorrowings>
  <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="FYp0Q4e" unitRef="USD" decimals="-3">87000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
  <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="FYm1Q4e" unitRef="USD" decimals="-3">82000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
  <ifrs-full:NoncurrentLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">2418000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">82000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:CurrentPortionOfLongtermBorrowings contextRef="FYp0Q4e" unitRef="USD" decimals="-3">35368000</ifrs-full:CurrentPortionOfLongtermBorrowings>
  <ifrs-full:CurrentPortionOfLongtermBorrowings contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41538000</ifrs-full:CurrentPortionOfLongtermBorrowings>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYp0Q4e" unitRef="USD" decimals="-3">6433000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYm1Q4e" unitRef="USD" decimals="-3">4258000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1319000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">1455000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:DeferredIncome contextRef="FYp0Q4e" unitRef="USD" decimals="-3">86000</ifrs-full:DeferredIncome>
  <ifrs-full:DeferredIncome contextRef="FYm1Q4e" unitRef="USD" decimals="-3">302000</ifrs-full:DeferredIncome>
  <ifrs-full:CurrentLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">43206000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">47553000</ifrs-full:CurrentLiabilities>
  <ifrs-full:Liabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">45624000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">47635000</ifrs-full:Liabilities>
  <ifrs-full:EquityAndLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">86674000</ifrs-full:EquityAndLiabilities>
  <ifrs-full:EquityAndLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">91603000</ifrs-full:EquityAndLiabilities>
  <ifrs-full:OtherNoncurrentAssets contextRef="FYp0Q4e" unitRef="USD" decimals="-3">10000</ifrs-full:OtherNoncurrentAssets>
  <ifrs-full:OtherNoncurrentAssets contextRef="FYm1Q4e" unitRef="USD" decimals="-3">10000</ifrs-full:OtherNoncurrentAssets>
  <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">831000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
  <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
  <ifrs-full:Equity contextRef="FYm3Q4e_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">1000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm3Q4e_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">109963000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm3Q4e_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-79429000</ifrs-full:Equity>
  <ifrs-full:ProfitLoss contextRef="FYm2YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-9825000</ifrs-full:ProfitLoss>
  <ifrs-full:ComprehensiveIncome contextRef="FYm2YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-9825000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm2YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm2YTE" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:Equity contextRef="FYm2Q4e_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">1000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm2Q4e_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">110013000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm2Q4e_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-89254000</ifrs-full:Equity>
  <ifrs-full:ComprehensiveIncome contextRef="FYm1YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-6475000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ProfitLoss contextRef="FYm1YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-6475000</ifrs-full:ProfitLoss>
  <ifrs-full:IssueOfEquity contextRef="FYm1YTE_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">11000</ifrs-full:IssueOfEquity>
  <ifrs-full:IssueOfEquity contextRef="FYm1YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">27271000</ifrs-full:IssueOfEquity>
  <ifrs-full:IssueOfEquity contextRef="FYm1YTE" unitRef="USD" decimals="-3">27282000</ifrs-full:IssueOfEquity>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm1YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">30000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm1YTE" unitRef="USD" decimals="-3">30000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">1000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">2370000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYm1YTE" unitRef="USD" decimals="-3">2371000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:Equity contextRef="FYm1Q4e_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">13000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm1Q4e_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">139684000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm1Q4e_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-95729000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYm3Q4e" unitRef="USD" decimals="-3">30535000</ifrs-full:Equity>
  <ifrs-full:ProfitLoss contextRef="FYp0YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-3568000</ifrs-full:ProfitLoss>
  <ifrs-full:ComprehensiveIncome contextRef="FYp0YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-3568000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:Equity contextRef="FYp0Q4e_ComponentsOfEquityAxis_IssuedCapitalMember" unitRef="USD" decimals="-3">13000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYp0Q4e_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">140334000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="FYp0Q4e_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">-99297000</ifrs-full:Equity>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYp0YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYp0YTE_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">600000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYp0YTE" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYp0YTE" unitRef="USD" decimals="-3">600000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:Equity contextRef="FYm2Q4e" unitRef="USD" decimals="-3">20760000</ifrs-full:Equity>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYm2YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYp0YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="FYm1YTE_ComponentsOfEquityAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">0</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:AdjustmentsForDepreciationExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">4601000</ifrs-full:AdjustmentsForDepreciationExpense>
  <ifrs-full:AdjustmentsForDepreciationExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">4854000</ifrs-full:AdjustmentsForDepreciationExpense>
  <glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">1166000</glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts>
  <glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">862000</glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts>
  <glbs:PaymentsOfDeferredDryDockingCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">-1204000</glbs:PaymentsOfDeferredDryDockingCosts>
  <glbs:PaymentsOfDeferredDryDockingCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">-412000</glbs:PaymentsOfDeferredDryDockingCosts>
  <ifrs-full:AdjustmentsForProvisions contextRef="FYp0YTE" unitRef="USD" decimals="-3">5000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForProvisions contextRef="FYm1YTE" unitRef="USD" decimals="-3">4000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForFinanceCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">2056000</ifrs-full:AdjustmentsForFinanceCosts>
  <ifrs-full:AdjustmentsForFinanceCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">2221000</ifrs-full:AdjustmentsForFinanceCosts>
  <ifrs-full:AdjustmentsForInterestIncome contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:AdjustmentsForInterestIncome>
  <ifrs-full:AdjustmentsForInterestIncome contextRef="FYm1YTE" unitRef="USD" decimals="-3">-3000</ifrs-full:AdjustmentsForInterestIncome>
  <ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains contextRef="FYp0YTE" unitRef="USD" decimals="-3">-81000</ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains>
  <ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains contextRef="FYm1YTE" unitRef="USD" decimals="-3">181000</ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains>
  <ifrs-full:AdjustmentsForSharebasedPayments contextRef="FYp0YTE" unitRef="USD" decimals="-3">50000</ifrs-full:AdjustmentsForSharebasedPayments>
  <ifrs-full:AdjustmentsForSharebasedPayments contextRef="FYm1YTE" unitRef="USD" decimals="-3">30000</ifrs-full:AdjustmentsForSharebasedPayments>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable contextRef="FYp0YTE" unitRef="USD" decimals="-3">-400000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable contextRef="FYm1YTE" unitRef="USD" decimals="-3">66000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="FYp0YTE" unitRef="USD" decimals="-3">11000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="FYm1YTE" unitRef="USD" decimals="-3">-145000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets contextRef="FYp0YTE" unitRef="USD" decimals="-3">255000</ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets contextRef="FYm1YTE" unitRef="USD" decimals="-3">591000</ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable contextRef="FYp0YTE" unitRef="USD" decimals="-3">1303000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable contextRef="FYm1YTE" unitRef="USD" decimals="-3">-499000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable>
  <glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables contextRef="FYp0YTE" unitRef="USD" decimals="-3">-258000</glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables>
  <glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables contextRef="FYm1YTE" unitRef="USD" decimals="-3">-726000</glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables>
  <glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue contextRef="FYp0YTE" unitRef="USD" decimals="-3">-216000</glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue>
  <glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue contextRef="FYm1YTE" unitRef="USD" decimals="-3">82000</glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">3851000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">631000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:InterestReceivedClassifiedAsInvestingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:InterestReceivedClassifiedAsInvestingActivities>
  <ifrs-full:InterestReceivedClassifiedAsInvestingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">3000</ifrs-full:InterestReceivedClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">-126000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">-263000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">15700000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">280000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">19497000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">4399000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents contextRef="FYp0YTE" unitRef="USD" decimals="-3">-1140000</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:InterestPaidClassifiedAsFinancingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">1895000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
  <ifrs-full:InterestPaidClassifiedAsFinancingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">3309000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">-6435000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">2225000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="FYm1YTE" unitRef="USD" decimals="-3">2593000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:ProceedsFromIssuingShares contextRef="FYp0YTE" unitRef="USD" decimals="-3">600000</ifrs-full:ProceedsFromIssuingShares>
  <ifrs-full:ProceedsFromIssuingShares contextRef="FYm1YTE" unitRef="USD" decimals="-3">9653000</ifrs-full:ProceedsFromIssuingShares>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">26000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">245000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
  <ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">100000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
  <ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">21000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
  <ifrs-full:AdjustmentsForDepreciationExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">5014000</ifrs-full:AdjustmentsForDepreciationExpense>
  <glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">1005000</glbs:AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts>
  <glbs:PaymentsOfDeferredDryDockingCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">-478000</glbs:PaymentsOfDeferredDryDockingCosts>
  <ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="FYm2YTE" unitRef="USD" decimals="-3">-2257000</ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:AdjustmentsForProvisions contextRef="FYm2YTE" unitRef="USD" decimals="-3">5000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForFinanceCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">2676000</ifrs-full:AdjustmentsForFinanceCosts>
  <ifrs-full:AdjustmentsForInterestIncome contextRef="FYm2YTE" unitRef="USD" decimals="-3">-5000</ifrs-full:AdjustmentsForInterestIncome>
  <ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains contextRef="FYm2YTE" unitRef="USD" decimals="-3">-58000</ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains>
  <ifrs-full:AdjustmentsForSharebasedPayments contextRef="FYm2YTE" unitRef="USD" decimals="-3">50000</ifrs-full:AdjustmentsForSharebasedPayments>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable contextRef="FYm2YTE" unitRef="USD" decimals="-3">-270000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="FYm2YTE" unitRef="USD" decimals="-3">-161000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets contextRef="FYm2YTE" unitRef="USD" decimals="-3">-232000</ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable contextRef="FYm2YTE" unitRef="USD" decimals="-3">746000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable>
  <glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables contextRef="FYm2YTE" unitRef="USD" decimals="-3">141000</glbs:AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables>
  <glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue contextRef="FYm2YTE" unitRef="USD" decimals="-3">49000</glbs:AdjustmentsForIncreaseDecreaseInDeferredRevenue>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">-3600000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">374000</ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">19000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
  <ifrs-full:InterestReceivedClassifiedAsInvestingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">7000</ifrs-full:InterestReceivedClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">362000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:ProceedsFromIssuingShares contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:ProceedsFromIssuingShares>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">5950000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">3100000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents contextRef="FYm2YTE" unitRef="USD" decimals="-3">290000</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">14000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:InterestPaidClassifiedAsFinancingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">1730000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="FYm2YTE" unitRef="USD" decimals="-3">1396000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="FYm2YTE" unitRef="USD" decimals="-3">-1842000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:CashAndCashEquivalents contextRef="FYm3Q4e" unitRef="USD" decimals="-3">2005000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="FYm2Q4e" unitRef="USD" decimals="-3">163000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="FYp0YTE" unitRef="USD" decimals="-3">-2710000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives contextRef="FYp0YTE" unitRef="USD" decimals="-3">131000</ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives>
  <ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives>
  <ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives>
  <ifrs-full:PaymentsForDebtIssueCosts contextRef="FYp0YTE" unitRef="USD" decimals="-3">203000</ifrs-full:PaymentsForDebtIssueCosts>
  <ifrs-full:PaymentsForDebtIssueCosts contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:PaymentsForDebtIssueCosts>
  <ifrs-full:PaymentsForDebtIssueCosts contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:PaymentsForDebtIssueCosts>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_GlobusShipmanagementCorpMember">Marshall Islands</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">Marshall Islands</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">Marshall Islands</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">Marshall Islands</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_ArtfulShipholdingSAMember">Marshall Islands</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_LongevityMaritimeLimitedMember">Malta</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <glbs:VesselDeliveryDate contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">December 18, 2007</glbs:VesselDeliveryDate>
  <glbs:VesselDeliveryDate contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">May 19, 2010</glbs:VesselDeliveryDate>
  <glbs:VesselDeliveryDate contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">May 25, 2010</glbs:VesselDeliveryDate>
  <glbs:VesselDeliveryDate contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_ArtfulShipholdingSAMember">June 22, 2011</glbs:VesselDeliveryDate>
  <glbs:VesselDeliveryDate contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_LongevityMaritimeLimitedMember">September 15, 2011</glbs:VesselDeliveryDate>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_GlobusShipmanagementCorpMember">Management Co. </ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">m/v River Globe</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">m/v Sky Globe</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">m/v Star Globe</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_ArtfulShipholdingSAMember">m/v Moon Globe</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="FYp0YTE_SignificantInvestmentsInSubsidiariesAxis_LongevityMaritimeLimitedMember">m/v Sun Globe</ifrs-full:NameOfSubsidiary>
  <ifrs-full:CurrentAssetsLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">-40412000</ifrs-full:CurrentAssetsLiabilities>
  <glbs:AllowanceForDoubtfulTradeReceivables contextRef="FYp0YTE" unitRef="USD" decimals="-3">68000</glbs:AllowanceForDoubtfulTradeReceivables>
  <glbs:AllowanceForDoubtfulTradeReceivables contextRef="FYm1YTE" unitRef="USD" decimals="-3">138000</glbs:AllowanceForDoubtfulTradeReceivables>
  <ifrs-full:DepreciationMethodPropertyPlantAndEquipment contextRef="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_DeferredDryDockingCostsMember">straight-line basis</ifrs-full:DepreciationMethodPropertyPlantAndEquipment>
  <ifrs-full:DepreciationMethodPropertyPlantAndEquipment contextRef="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">straight-line basis</ifrs-full:DepreciationMethodPropertyPlantAndEquipment>
  <ifrs-full:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment contextRef="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember">25 years</ifrs-full:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment>
  <glbs:VesselsScrapRatePerTon contextRef="d31-03-2018_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="3">300</glbs:VesselsScrapRatePerTon>
  <glbs:VesselsScrapRatePerTon contextRef="d30-09-2017_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="3">250</glbs:VesselsScrapRatePerTon>
  <glbs:VesselsScrapRatePerTon contextRef="d30-06-2016_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="3">200</glbs:VesselsScrapRatePerTon>
  <glbs:ExtraDepreciationPropertyPlantAndEquipment contextRef="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">-178000</glbs:ExtraDepreciationPropertyPlantAndEquipment>
  <glbs:ExtraDepreciationPropertyPlantAndEquipment contextRef="FYm1YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">-86000</glbs:ExtraDepreciationPropertyPlantAndEquipment>
  <ifrs-full:BorrowingCostsCapitalised contextRef="FYp0YTE" unitRef="USD" decimals="-3">253000</ifrs-full:BorrowingCostsCapitalised>
  <ifrs-full:BorrowingCostsCapitalised contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:BorrowingCostsCapitalised>
  <ifrs-full:BorrowingCostsCapitalised contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:BorrowingCostsCapitalised>
  <glbs:NumberOfOperatingSegments contextRef="FYp0YTE" unitRef="pure" decimals="4">1</glbs:NumberOfOperatingSegments>
  <ifrs-full:DescriptionOfNatureOfBenefitsProvidedByPlan contextRef="FYp0YTE">If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time.</ifrs-full:DescriptionOfNatureOfBenefitsProvidedByPlan>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="FYp0Q4e" unitRef="USD" decimals="-3">87000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="FYm1Q4e" unitRef="USD" decimals="-3">82000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <glbs:ExtraDepreciationPropertyPlantAndEquipment contextRef="FYm2YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">96000</glbs:ExtraDepreciationPropertyPlantAndEquipment>
  <glbs:VesselsScrapRatePerTon contextRef="FYm3YTE_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="3">240</glbs:VesselsScrapRatePerTon>
  <ifrs-full:CurrentPortionOfLongtermBorrowings contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankAndHamburgCommercialBankAGMember" unitRef="USD" decimals="-3">35368000</ifrs-full:CurrentPortionOfLongtermBorrowings>
  <glbs:IncreaseDecreaseVoyageRevenues contextRef="FYp0YTE" unitRef="USD" decimals="-3">668000</glbs:IncreaseDecreaseVoyageRevenues>
  <glbs:IncreaseDecreaseVoyageRevenues contextRef="FYm1YTE" unitRef="USD" decimals="-3">540000</glbs:IncreaseDecreaseVoyageRevenues>
  <glbs:IncreaseDecreaseVoyageRevenues contextRef="FYm2YTE" unitRef="USD" decimals="-3">317000</glbs:IncreaseDecreaseVoyageRevenues>
  <glbs:IncreaseDecreaseVoyageExpenses contextRef="FYp0YTE" unitRef="USD" decimals="-3">668000</glbs:IncreaseDecreaseVoyageExpenses>
  <glbs:IncreaseDecreaseVoyageExpenses contextRef="FYm1YTE" unitRef="USD" decimals="-3">540000</glbs:IncreaseDecreaseVoyageExpenses>
  <glbs:IncreaseDecreaseVoyageExpenses contextRef="FYm2YTE" unitRef="USD" decimals="-3">317000</glbs:IncreaseDecreaseVoyageExpenses>
  <ifrs-full:RightofuseAssets contextRef="FYp0Q4e_NewIFRSsAxis_IFRS16LeasesMember" unitRef="USD" decimals="-3">674000</ifrs-full:RightofuseAssets>
  <ifrs-full:DateAsAtWhichEntityPlansToApplyNewIFRSInitially contextRef="FYp0YTE_NewIFRSsAxis_IFRS16LeasesMember">2019-01-01</ifrs-full:DateAsAtWhichEntityPlansToApplyNewIFRSInitially>
  <ifrs-full:TitleOfNewIFRS contextRef="FYp0YTE_NewIFRSsAxis_IFRS16LeasesMember">IFRS 16</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DepreciationMethodPropertyPlantAndEquipment contextRef="FYp0YTE_NewIFRSsAxis_IFRS16LeasesMember">straight-line basis</ifrs-full:DepreciationMethodPropertyPlantAndEquipment>
  <ifrs-full:DateByWhichApplicationOfNewIFRSIsRequired contextRef="FYp0YTE_NewIFRSsAxis_IFRS16LeasesMember">2019-01-01</ifrs-full:DateByWhichApplicationOfNewIFRSIsRequired>
  <ifrs-full:ProceedsFromIssuingShares contextRef="d13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteMember" unitRef="USD" decimals="3">5000000</ifrs-full:ProceedsFromIssuingShares>
  <ifrs-full:ParValuePerShare contextRef="i13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteMember" unitRef="EPS" decimals="4">0.004</ifrs-full:ParValuePerShare>
  <glbs:IntervalBetweenVesselDrydockingSpecialSurvey contextRef="FYp0YTE_ClassesOfPropertyPlantAndEquipmentAxis_DeferredDryDockingCostsMember">P2Y6M</glbs:IntervalBetweenVesselDrydockingSpecialSurvey>
  <ifrs-full:HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities contextRef="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember" unitRef="pure" decimals="4">0.8</ifrs-full:HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities>
  <ifrs-full:InterestRateSignificantUnobservableInputsLiabilities contextRef="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember" unitRef="pure" decimals="4">0.0248</ifrs-full:InterestRateSignificantUnobservableInputsLiabilities>
  <glbs:ExpectedDividendYieldSignificantUnobservableInputsLiabilities contextRef="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember" unitRef="pure" decimals="4">0</glbs:ExpectedDividendYieldSignificantUnobservableInputsLiabilities>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementIIMember" unitRef="USD" decimals="3">22200000</glbs:BorrowingsGross>
  <ifrs-full:WeightedAverageSharePrice contextRef="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember" unitRef="USD" decimals="3">2.88</ifrs-full:WeightedAverageSharePrice>
  <glbs:DerivativeLifeSignificantUnobservableInputsLiabilities contextRef="FYp0YTE_ValuationTechniquesUsedInFairValueMeasurementAxis_BlackScholesOptionPricingModelMember">1.89 years</glbs:DerivativeLifeSignificantUnobservableInputsLiabilities>
  <ifrs-full:CashOnHand contextRef="FYp0Q4e" unitRef="USD" decimals="-3">46000</ifrs-full:CashOnHand>
  <ifrs-full:CashOnHand contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</ifrs-full:CashOnHand>
  <ifrs-full:BalancesWithBanks contextRef="FYp0Q4e" unitRef="USD" decimals="-3">0</ifrs-full:BalancesWithBanks>
  <ifrs-full:BalancesWithBanks contextRef="FYm1Q4e" unitRef="USD" decimals="-3">2756000</ifrs-full:BalancesWithBanks>
  <ifrs-full:UndrawnBorrowingFacilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">12800000</ifrs-full:UndrawnBorrowingFacilities>
  <ifrs-full:UndrawnBorrowingFacilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">3000000</ifrs-full:UndrawnBorrowingFacilities>
  <glbs:CashAndCashEquivalentsFairValueDisclosure contextRef="FYp0Q4e" unitRef="USD" decimals="-3">46000</glbs:CashAndCashEquivalentsFairValueDisclosure>
  <glbs:CashAndCashEquivalentsFairValueDisclosure contextRef="FYm1Q4e" unitRef="USD" decimals="-3">2756000</glbs:CashAndCashEquivalentsFairValueDisclosure>
  <glbs:RestrictedCashAndCashEquivalentsFairValueDisclosure contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1350000</glbs:RestrictedCashAndCashEquivalentsFairValueDisclosure>
  <glbs:RestrictedCashAndCashEquivalentsFairValueDisclosure contextRef="FYm1Q4e" unitRef="USD" decimals="-3">210000</glbs:RestrictedCashAndCashEquivalentsFairValueDisclosure>
  <ifrs-full:DirectorsRemunerationExpense contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">145000</ifrs-full:DirectorsRemunerationExpense>
  <ifrs-full:DirectorsRemunerationExpense contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">145000</ifrs-full:DirectorsRemunerationExpense>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">185000</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">185000</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">235000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">229000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">235000</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">229000</ifrs-full:KeyManagementPersonnelCompensation>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">40000</glbs:DirectorsCompensationSharebasedPayment>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">40000</glbs:DirectorsCompensationSharebasedPayment>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">0</glbs:DirectorsCompensationSharebasedPayment>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">0</glbs:DirectorsCompensationSharebasedPayment>
  <ifrs-full:DirectorsRemunerationExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">130000</ifrs-full:DirectorsRemunerationExpense>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">35000</glbs:DirectorsCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">165000</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">82000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <glbs:DirectorsCompensationSharebasedPayment contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">15000</glbs:DirectorsCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">97000</ifrs-full:KeyManagementPersonnelCompensation>
  <glbs:NumberOfSharesHeldByControllingParty contextRef="FYp0Q4e" unitRef="shares" decimals="0">1420163</glbs:NumberOfSharesHeldByControllingParty>
  <glbs:MonthlyRentalExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="EUR" decimals="3">10360</glbs:MonthlyRentalExpense>
  <glbs:MonthlyRentalExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="3">11900</glbs:MonthlyRentalExpense>
  <ifrs-full:LeasesAsLesseeRelatedPartyTransactions contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="-3">147000</ifrs-full:LeasesAsLesseeRelatedPartyTransactions>
  <ifrs-full:LeasesAsLesseeRelatedPartyTransactions contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="-3">140000</ifrs-full:LeasesAsLesseeRelatedPartyTransactions>
  <ifrs-full:LeasesAsLesseeRelatedPartyTransactions contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="-3">138000</ifrs-full:LeasesAsLesseeRelatedPartyTransactions>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="-3">427000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="FYm1Q4e_CategoriesOfRelatedPartiesAxis_CyberonicaSAMember" unitRef="USD" decimals="-3">471000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYm3Q4e_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">20000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i30.04.2015_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">8000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i31-12-2013_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">4000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <glbs:LineOfCreditFacilityDrawndownAmountsMultiples contextRef="FYm3YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">100000</glbs:LineOfCreditFacilityDrawndownAmountsMultiples>
  <glbs:LineOfCreditFacilityDecreaseForgiveness contextRef="d08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">16885000</glbs:LineOfCreditFacilityDecreaseForgiveness>
  <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding contextRef="d08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="shares" decimals="0">1688500</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="i08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="shares" decimals="0">623058</glbs:NumberOfSharesCalledByWarrants>
  <glbs:ExercisePriceOfOutstandingWarrants contextRef="i08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="EPS" decimals="4">16</glbs:ExercisePriceOfOutstandingWarrants>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d10-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">1639000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember">April 12, 2017</ifrs-full:BorrowingsMaturity>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i31-01-2016_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">3000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <glbs:LineOfCreditFacilityDrawndownAmountsMultiples contextRef="d31-01-2016_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">100000</glbs:LineOfCreditFacilityDrawndownAmountsMultiples>
  <ifrs-full:BorrowingsInterestRate contextRef="i31-01-2016_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="pure" decimals="4">0.05</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding contextRef="d08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="shares" decimals="0">311500</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="i08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="shares" decimals="0">114944</glbs:NumberOfSharesCalledByWarrants>
  <glbs:ExercisePriceOfOutstandingWarrants contextRef="i08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="EPS" decimals="4">16</glbs:ExercisePriceOfOutstandingWarrants>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">74000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember">January 12, 2018</ifrs-full:BorrowingsMaturity>
  <glbs:LineOfCreditFacilityDecreaseForgiveness contextRef="d08-02-2017_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">3115000</glbs:LineOfCreditFacilityDecreaseForgiveness>
  <glbs:DailyConsultingFeeIncome contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember" unitRef="USD" decimals="-3">1000</glbs:DailyConsultingFeeIncome>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember" unitRef="USD" decimals="-3">0</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember" unitRef="USD" decimals="-3">31000</ifrs-full:FeeAndCommissionIncome>
  <glbs:AccruedDirectorsCompensation contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">201000</glbs:AccruedDirectorsCompensation>
  <glbs:AccruedDirectorsCompensation contextRef="FYm1Q4e_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember" unitRef="USD" decimals="-3">126000</glbs:AccruedDirectorsCompensation>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <glbs:ProportionOfOwnershipInterestsHeldByControllingParty contextRef="FYp0YTE" unitRef="pure" decimals="4">0.443</glbs:ProportionOfOwnershipInterestsHeldByControllingParty>
  <glbs:ProportionOfOwnershipInterestsHeldByControllingParty contextRef="FYm1YTE" unitRef="pure" decimals="4">0.587</glbs:ProportionOfOwnershipInterestsHeldByControllingParty>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <glbs:ConsultingFeesExpense contextRef="d18-08-2016_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember" unitRef="EUR" decimals="3">200000</glbs:ConsultingFeesExpense>
  <glbs:ConsultingFeesExpense contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember" unitRef="USD" decimals="-3">235000</glbs:ConsultingFeesExpense>
  <glbs:ConsultingFeesExpense contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember" unitRef="USD" decimals="-3">229000</glbs:ConsultingFeesExpense>
  <ifrs-full:Borrowings contextRef="i08-02-2017_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">18524000</ifrs-full:Borrowings>
  <glbs:ConsultingFeesExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_AffiliatedCompanyOfCompanysCEOMember" unitRef="USD" decimals="-3">97000</glbs:ConsultingFeesExpense>
  <ifrs-full:InterestExpense contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">3000</ifrs-full:InterestExpense>
  <ifrs-full:ProceedsFromIssuingShares contextRef="d08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="USD" decimals="-3">5000000</ifrs-full:ProceedsFromIssuingShares>
  <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding contextRef="d08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">500000</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="i08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">2500000</glbs:NumberOfSharesCalledByWarrants>
  <glbs:ExercisePriceOfOutstandingWarrants contextRef="i08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="EPS" decimals="4">16</glbs:ExercisePriceOfOutstandingWarrants>
  <ifrs-full:ParValuePerShare contextRef="i08-02-2017_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="EPS" decimals="4">0.004</ifrs-full:ParValuePerShare>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">280000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">280000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <glbs:AccruedDirectorsCompensation contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">391000</glbs:AccruedDirectorsCompensation>
  <glbs:AccruedDirectorsCompensation contextRef="FYm1Q4e_CategoriesOfRelatedPartiesAxis_ExecutiveDirectorsMember" unitRef="USD" decimals="-3">239000</glbs:AccruedDirectorsCompensation>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember">November 19, 2020</ifrs-full:BorrowingsMaturity>
  <ifrs-full:FeeAndCommissionIncome contextRef="d30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">0</ifrs-full:FeeAndCommissionIncome>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">15000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <glbs:LineOfCreditFacilityDrawndownAmountsMultiples contextRef="d30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">100000</glbs:LineOfCreditFacilityDrawndownAmountsMultiples>
  <ifrs-full:BorrowingsInterestRate contextRef="i30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="pure" decimals="4">0.07</ifrs-full:BorrowingsInterestRate>
  <glbs:BorrowingsDefaultInterestRate contextRef="i30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="pure" decimals="4">0.02</glbs:BorrowingsDefaultInterestRate>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <glbs:DebtInstrumentConvertibleConversionPrice contextRef="i30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="EPS" decimals="4">2.8</glbs:DebtInstrumentConvertibleConversionPrice>
  <glbs:DebtInstrumentConvertibleThresholdTradingDays contextRef="d30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="pure" decimals="4">10</glbs:DebtInstrumentConvertibleThresholdTradingDays>
  <glbs:DebtInstrumentConvertibleConversionMultiplier contextRef="d30-11-2018_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="pure" decimals="4">0.8</glbs:DebtInstrumentConvertibleConversionMultiplier>
  <ifrs-full:InterestExpense contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">12000</ifrs-full:InterestExpense>
  <glbs:ProportionOfOwnershipInterestsHeldByControllingParty contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">0.4</glbs:ProportionOfOwnershipInterestsHeldByControllingParty>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">2200000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:UndrawnBorrowingFacilities contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">12800000</ifrs-full:UndrawnBorrowingFacilities>
  <ifrs-full:InterestExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_FirmentTradingLimitedMember" unitRef="USD" decimals="-3">608000</ifrs-full:InterestExpense>
  <ifrs-full:FeeAndCommissionIncome contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_EolosShipmanagementSAMember" unitRef="USD" decimals="-3">187000</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:InterestExpense contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_SilanerInvestmentsLimitedMember" unitRef="USD" decimals="-3">74000</ifrs-full:InterestExpense>
  <ifrs-full:Ships contextRef="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">179401000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">92702000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">4830000</ifrs-full:Ships>
  <ifrs-full:Ships contextRef="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">87320000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm1Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">4209000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">245000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">1221000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="FYm1YTE" unitRef="USD" decimals="-3">4831000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="FYm2YTE" unitRef="USD" decimals="-3">4985000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <glbs:DepreciationOfficeFurnitureAndEquipment contextRef="FYp0YTE" unitRef="USD" decimals="-3">23000</glbs:DepreciationOfficeFurnitureAndEquipment>
  <glbs:DepreciationOfficeFurnitureAndEquipment contextRef="FYm1YTE" unitRef="USD" decimals="-3">23000</glbs:DepreciationOfficeFurnitureAndEquipment>
  <glbs:DepreciationOfficeFurnitureAndEquipment contextRef="FYm2YTE" unitRef="USD" decimals="-3">29000</glbs:DepreciationOfficeFurnitureAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="FYp0YTE" unitRef="USD" decimals="-3">4578000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">5693000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">976000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">4831000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm1YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">862000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm1YTE" unitRef="USD" decimals="-3">1221000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">5693000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:Ships contextRef="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">179156000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">87871000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">3854000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">3347000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm2Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">91792000</ifrs-full:Ships>
  <ifrs-full:Ships contextRef="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">179427000</ifrs-full:Ships>
  <ifrs-full:Ships contextRef="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">6978000</ifrs-full:Ships>
  <ifrs-full:Ships contextRef="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">83750000</ifrs-full:Ships>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">26000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">4578000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">2148000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">1166000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">2174000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYp0YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">5744000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYp0YTE" unitRef="USD" decimals="-3">2174000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">5744000</ifrs-full:DepreciationAndAmortisationExpense>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">97280000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYp0Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">5375000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">198803000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">90086000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">3976000</ifrs-full:Ships>
  <glbs:AccumulatedDepreciationPropertyPlantAndEquipment contextRef="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">2618000</glbs:AccumulatedDepreciationPropertyPlantAndEquipment>
  <ifrs-full:Ships contextRef="FYm3Q4e_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">110075000</ifrs-full:Ships>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">478000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">478000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">-19647000</ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment>
  <glbs:AccumulatedDepreciationSaleOfSubsidiary contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">-7200000</glbs:AccumulatedDepreciationSaleOfSubsidiary>
  <ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">-600000</ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment>
  <glbs:AccumulatedDepreciationSaleOfSubsidiary contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">-276000</glbs:AccumulatedDepreciationSaleOfSubsidiary>
  <ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">-12771000</ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_ShipsMember" unitRef="USD" decimals="-3">4985000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis_DryDockingMember" unitRef="USD" decimals="-3">1005000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="FYm2YTE_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_CarryingAmountIMember" unitRef="USD" decimals="-3">5990000</ifrs-full:DepreciationAndAmortisationExpense>
  <glbs:AssumptionOfAnnualGrowthRatesOfTimeCharterRates contextRef="FYp0Q4e" unitRef="pure" decimals="4">0.017</glbs:AssumptionOfAnnualGrowthRatesOfTimeCharterRates>
  <glbs:AssumptionOfExpectedRatesOfInflation contextRef="FYp0Q4e" unitRef="pure" decimals="4">0.01</glbs:AssumptionOfExpectedRatesOfInflation>
  <glbs:VesselCapacity contextRef="FYp0Q4e_ClassesOfPropertyPlantAndEquipmentAxis_SupramaxMember" unitRef="pure" decimals="4">50000</glbs:VesselCapacity>
  <glbs:VesselCapacity contextRef="FYp0Q4e_ClassesOfPropertyPlantAndEquipmentAxis_PanamaxMember" unitRef="pure" decimals="4">70000</glbs:VesselCapacity>
  <glbs:AssumptionOfFleetUtilisationRate contextRef="FYp0Q4e" unitRef="pure" decimals="4">0.9</glbs:AssumptionOfFleetUtilisationRate>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment contextRef="FYm1YTE" unitRef="USD" decimals="-3">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment contextRef="FYm2YTE" unitRef="USD" decimals="-3">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment>
  <glbs:TimePeriodConsidered contextRef="FYp0YTE">The Company used the historical ten-year blended average one-year time charter rates.</glbs:TimePeriodConsidered>
  <glbs:LubricantsInventoryCurrent contextRef="FYp0Q4e" unitRef="USD" decimals="-3">313000</glbs:LubricantsInventoryCurrent>
  <glbs:LubricantsInventoryCurrent contextRef="FYm1Q4e" unitRef="USD" decimals="-3">328000</glbs:LubricantsInventoryCurrent>
  <glbs:GasCylindersInventoryCurrent contextRef="FYp0Q4e" unitRef="USD" decimals="-3">78000</glbs:GasCylindersInventoryCurrent>
  <glbs:GasCylindersInventoryCurrent contextRef="FYm1Q4e" unitRef="USD" decimals="-3">63000</glbs:GasCylindersInventoryCurrent>
  <glbs:BunkerInventoryCurrent contextRef="FYp0Q4e" unitRef="USD" decimals="-3">259000</glbs:BunkerInventoryCurrent>
  <glbs:BunkerInventoryCurrent contextRef="FYm1Q4e" unitRef="USD" decimals="-3">270000</glbs:BunkerInventoryCurrent>
  <ifrs-full:CurrentAdvancesToSuppliers contextRef="FYm1Q4e" unitRef="USD" decimals="-3">216000</ifrs-full:CurrentAdvancesToSuppliers>
  <ifrs-full:CurrentPrepayments contextRef="FYp0Q4e" unitRef="USD" decimals="-3">171000</ifrs-full:CurrentPrepayments>
  <ifrs-full:CurrentPrepayments contextRef="FYm1Q4e" unitRef="USD" decimals="-3">210000</ifrs-full:CurrentPrepayments>
  <ifrs-full:CurrentAdvancesToSuppliers contextRef="FYp0Q4e" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAdvancesToSuppliers>
  <ifrs-full:CurrentInterestPayable contextRef="FYp0Q4e" unitRef="USD" decimals="-3">114000</ifrs-full:CurrentInterestPayable>
  <ifrs-full:CurrentInterestPayable contextRef="FYm1Q4e" unitRef="USD" decimals="-3">274000</ifrs-full:CurrentInterestPayable>
  <glbs:AccruedAuditFeesCurrent contextRef="FYp0Q4e" unitRef="USD" decimals="-3">57000</glbs:AccruedAuditFeesCurrent>
  <glbs:AccruedAuditFeesCurrent contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</glbs:AccruedAuditFeesCurrent>
  <glbs:OtherAccruals contextRef="FYp0Q4e" unitRef="USD" decimals="-3">999000</glbs:OtherAccruals>
  <glbs:OtherAccruals contextRef="FYm1Q4e" unitRef="USD" decimals="-3">996000</glbs:OtherAccruals>
  <glbs:CurrentInsuranceDeductibles contextRef="FYp0Q4e" unitRef="USD" decimals="-3">102000</glbs:CurrentInsuranceDeductibles>
  <glbs:CurrentInsuranceDeductibles contextRef="FYm1Q4e" unitRef="USD" decimals="-3">139000</glbs:CurrentInsuranceDeductibles>
  <ifrs-full:OtherCurrentPayables contextRef="FYm1Q4e" unitRef="USD" decimals="-3">46000</ifrs-full:OtherCurrentPayables>
  <ifrs-full:OtherCurrentPayables contextRef="FYp0Q4e" unitRef="USD" decimals="-3">47000</ifrs-full:OtherCurrentPayables>
  <glbs:ValueOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">2000000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">2000000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">2000000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember" unitRef="USD" decimals="-3">100000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYp0Q4e" unitRef="USD" decimals="-3">2200000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm1Q4e" unitRef="USD" decimals="-3">2200000</glbs:ValueOfSharesAuthorised>
  <glbs:ValueOfSharesAuthorised contextRef="FYm2Q4e" unitRef="USD" decimals="-3">2200000</glbs:ValueOfSharesAuthorised>
  <ifrs-full:NumberOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">500000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:NumberOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember" unitRef="shares" decimals="0">100000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:NumberOfSharesAuthorised contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember" unitRef="shares" decimals="0">100000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:ParValuePerShare contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesMember" unitRef="EPS" decimals="4">0.001</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="EPS" decimals="4">0.004</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_PreferenceSharesMember" unitRef="EPS" decimals="4">0.001</ifrs-full:ParValuePerShare>
  <ifrs-full:IssuedCapital contextRef="FYm3Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">1000</ifrs-full:IssuedCapital>
  <ifrs-full:IssuedCapital contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">1000</ifrs-full:IssuedCapital>
  <ifrs-full:NumberOfSharesIssuedAndFullyPaid contextRef="FYm3Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">257965</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
  <ifrs-full:NumberOfSharesIssuedAndFullyPaid contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">262755</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
  <ifrs-full:NumberOfSharesIssued contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesIssued>
  <glbs:IncreaseDecreaseInNumberOfPreferredSharesIssued contextRef="FYm2YTE_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">0</glbs:IncreaseDecreaseInNumberOfPreferredSharesIssued>
  <glbs:StockRedeemedDuringPeriodShares contextRef="FYm2YTE_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">2567</glbs:StockRedeemedDuringPeriodShares>
  <ifrs-full:IssuedCapital contextRef="FYm3Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="USD" decimals="-3">2000</ifrs-full:IssuedCapital>
  <ifrs-full:IssuedCapital contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="USD" decimals="-3">0</ifrs-full:IssuedCapital>
  <glbs:StockRedeemedDuringPeriodValue contextRef="FYm2YTE_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="USD" decimals="-3">2000</glbs:StockRedeemedDuringPeriodValue>
  <ifrs-full:NumberOfSharesIssuedAndFullyPaid contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">3163030</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions contextRef="FYm2YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">4790</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">2094</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">2750000</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">148181</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity>
  <ifrs-full:IssueOfEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">11000</ifrs-full:IssueOfEquity>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">1000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:IssuedCapital contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">13000</ifrs-full:IssuedCapital>
  <ifrs-full:NumberOfSharesIssued contextRef="FYm3Q4e_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">2567</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:NumberOfSharesIssuedAndFullyPaid contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">3209327</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions contextRef="FYp0YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">8797</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity contextRef="FYp0YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">37500</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity>
  <ifrs-full:IssuedCapital contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">13000</ifrs-full:IssuedCapital>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYp0YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">0</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm2YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">0</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm1YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">0</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYp0YTE_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="USD" decimals="-3">0</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <glbs:NumberOfSharesCalledByWarrants contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">3052321</glbs:NumberOfSharesCalledByWarrants>
  <glbs:NumberOfWarrantsOutstanding contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">3052321</glbs:NumberOfWarrantsOutstanding>
  <glbs:NumberOfWarrantsExercised contextRef="d31.01.2018_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">37500</glbs:NumberOfWarrantsExercised>
  <ifrs-full:ParValuePerShare contextRef="i19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="EPS" decimals="4">0.004</ifrs-full:ParValuePerShare>
  <glbs:ExercisePriceOfOutstandingWarrants contextRef="i19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="EPS" decimals="4">16</glbs:ExercisePriceOfOutstandingWarrants>
  <glbs:ProceedsFromWarrantExercises contextRef="d31.01.2018_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="USD" decimals="-3">600000</glbs:ProceedsFromWarrantExercises>
  <ifrs-full:ProceedsFromIssuingShares contextRef="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="USD" decimals="-3">2500000</ifrs-full:ProceedsFromIssuingShares>
  <glbs:NumberOfSharesCalledByWarrants contextRef="i19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">1250000</glbs:NumberOfSharesCalledByWarrants>
  <glbs:MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants contextRef="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="pure" decimals="4">0.0499</glbs:MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants>
  <glbs:MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants contextRef="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember_RangeAxis_TopOfRangeMember" unitRef="pure" decimals="4">0.0999</glbs:MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants>
  <glbs:NumberOfWarrantsOutstanding contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">1250000</glbs:NumberOfWarrantsOutstanding>
  <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding contextRef="d19-10-2017_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">250000</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">1250000</glbs:NumberOfSharesCalledByWarrants>
  <glbs:WarrantsExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">218000</glbs:WarrantsExpense>
  <glbs:NumberOfWarrantsOutstanding contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">3089821</glbs:NumberOfWarrantsOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">3089821</glbs:NumberOfSharesCalledByWarrants>
  <ifrs-full:SharePremium contextRef="FYm2Q4e" unitRef="USD" decimals="-3">110013000</ifrs-full:SharePremium>
  <glbs:NumberOfWarrantsOutstanding contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">1250000</glbs:NumberOfWarrantsOutstanding>
  <glbs:NumberOfSharesCalledByWarrants contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_October2017PrivatePlacementMember" unitRef="shares" decimals="0">1250000</glbs:NumberOfSharesCalledByWarrants>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYp0Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYm1Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="FYm2Q4e_ClassesOfShareCapitalAxis_ClassBCommonSharesOutstandingMember" unitRef="shares" decimals="0">0</ifrs-full:NumberOfSharesOutstanding>
  <glbs:VotingRights contextRef="FYp0YTE">Holders of the Company&#8217;s common shares and Class B shares have equivalent economic rights, but holders of Company&#8217;s common shares are entitled to one vote per share and holders of the Company&#8217;s Class B shares are entitled to twenty votes per share. </glbs:VotingRights>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="USD" decimals="-3">2371000</ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity>
  <glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity contextRef="FYm1YTE_ClassesOfShareCapitalAxis_February2017PrivatePlacementMember" unitRef="shares" decimals="0">148181</glbs:IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="FYp0YTE" unitRef="USD" decimals="-3">-3568000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="FYm1YTE" unitRef="USD" decimals="-3">-6475000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="FYm2YTE" unitRef="USD" decimals="-3">-9825000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity>
  <ifrs-full:WeightedAverageShares contextRef="FYp0YTE" unitRef="shares" decimals="0">3200927</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares contextRef="FYm1YTE" unitRef="shares" decimals="0">2574995</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares contextRef="FYm2YTE" unitRef="shares" decimals="0">260384</ifrs-full:WeightedAverageShares>
  <glbs:ReverseStockSplitConversionRatio contextRef="d20.10.2016_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="pure" decimals="4">4</glbs:ReverseStockSplitConversionRatio>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i19-10-2016_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">10510741</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i20-10-2016_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">2627674</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="FYp0YTE" unitRef="shares" decimals="0">4302321</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i14-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">32065077</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i15-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="shares" decimals="0">3206495</ifrs-full:NumberOfSharesOutstanding>
  <glbs:ReverseStockSplitConversionRatio contextRef="d15-10-2018_ClassesOfShareCapitalAxis_OrdinarySharesMember" unitRef="pure" decimals="4">10</glbs:ReverseStockSplitConversionRatio>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" unitRef="USD" decimals="-3">22163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ArtfulShipholdingSALongevityMaritimeLimitedMember" unitRef="USD" decimals="-3">13500000</glbs:BorrowingsGross>
  <glbs:DebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" unitRef="USD" decimals="-3">-46000</glbs:DebtInstrumentUnamortisedDiscount>
  <glbs:DebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ArtfulShipholdingSALongevityMaritimeLimitedMember" unitRef="USD" decimals="-3">-249000</glbs:DebtInstrumentUnamortisedDiscount>
  <glbs:DebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e" unitRef="USD" decimals="-3">-295000</glbs:DebtInstrumentUnamortisedDiscount>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" unitRef="USD" decimals="-3">22117000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_ArtfulShipholdingSALongevityMaritimeLimitedMember" unitRef="USD" decimals="-3">13251000</ifrs-full:Borrowings>
  <glbs:DebtInstrumentUnamortisedDiscount contextRef="FYm1Q4e" unitRef="USD" decimals="-3">-122000</glbs:DebtInstrumentUnamortisedDiscount>
  <ifrs-full:Borrowings contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41538000</ifrs-full:Borrowings>
  <glbs:CurrentPortionOfLongTermBorrowingsGross contextRef="FYp0Q4e" unitRef="USD" decimals="-3">35663000</glbs:CurrentPortionOfLongTermBorrowingsGross>
  <glbs:CurrentPortionOfLongTermBorrowingsGross contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41660000</glbs:CurrentPortionOfLongTermBorrowingsGross>
  <glbs:CurrentPortionOfDebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e" unitRef="USD" decimals="-3">295000</glbs:CurrentPortionOfDebtInstrumentUnamortisedDiscount>
  <glbs:CurrentPortionOfDebtInstrumentUnamortisedDiscount contextRef="FYm1Q4e" unitRef="USD" decimals="-3">122000</glbs:CurrentPortionOfDebtInstrumentUnamortisedDiscount>
  <glbs:LongTermBorrowingsGross contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1500000</glbs:LongTermBorrowingsGross>
  <glbs:LongTermBorrowingsGross contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</glbs:LongTermBorrowingsGross>
  <glbs:LongTermDebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e" unitRef="USD" decimals="-3">0</glbs:LongTermDebtInstrumentUnamortisedDiscount>
  <glbs:LongTermDebtInstrumentUnamortisedDiscount contextRef="FYm1Q4e" unitRef="USD" decimals="-3">0</glbs:LongTermDebtInstrumentUnamortisedDiscount>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">22163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">889000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">882000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">889000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">882000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember" unitRef="USD" decimals="-3">6000000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e" unitRef="USD" decimals="-3">37163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41660000</glbs:BorrowingsGross>
  <ifrs-full:Borrowings contextRef="FYp0Q4e" unitRef="USD" decimals="-3">36868000</ifrs-full:Borrowings>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">22163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember" unitRef="USD" decimals="-3">7500000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="USD" decimals="-3">889000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="USD" decimals="-3">882000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">23934000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">3971000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="USD" decimals="-3">1771000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_GlobusMaritimeLtdMember" unitRef="USD" decimals="-3">1500000</glbs:BorrowingsGross>
  <glbs:DebtInstrumentUnamortisedDiscount contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_GlobusMaritimeLtdMember" unitRef="USD" decimals="-3">0</glbs:DebtInstrumentUnamortisedDiscount>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_GlobusMaritimeLtdMember" unitRef="USD" decimals="-3">1500000</ifrs-full:Borrowings>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="USD" decimals="-3">889000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="USD" decimals="-3">882000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceAMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">2444000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_AdvanceBMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">3972000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MaturityAxis_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="USD" decimals="-3">1771000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MaturityAxis_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">6416000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">2774000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">8380000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">1249000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">12403000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">22163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">7094000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">29257000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_MaturityAxis_LaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember_MaturityAxis_LaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember_MaturityAxis_LaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_MaturityAxis_LaterThanTwoYearsMember" unitRef="USD" decimals="-3">0</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">24937000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember" unitRef="USD" decimals="-3">8380000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember" unitRef="USD" decimals="-3">8343000</glbs:BorrowingsGross>
  <glbs:ConvertibleDebtIncludingEmbeddedDerivative contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember_MaturityAxis_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="USD" decimals="-3">2200000</glbs:ConvertibleDebtIncludingEmbeddedDerivative>
  <glbs:ConvertibleDebtIncludingEmbeddedDerivative contextRef="FYp0Q4e_BorrowingsByNameAxis_FirmentShippingIncLoanAgreementMember" unitRef="USD" decimals="-3">2200000</glbs:ConvertibleDebtIncludingEmbeddedDerivative>
  <glbs:ConvertibleDebtIncludingEmbeddedDerivative contextRef="FYp0Q4e" unitRef="USD" decimals="-3">37863000</glbs:ConvertibleDebtIncludingEmbeddedDerivative>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i28-02-2015_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">30000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <ifrs-full:BorrowingsInterestRateBasis contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember">LIBOR</ifrs-full:BorrowingsInterestRateBasis>
  <ifrs-full:BorrowingsAdjustmentToInterestRateBasis contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_PeriodOfInterestRatesAxis_InterestPeriodThreeMonthsMember" unitRef="pure" decimals="4">0.03</ifrs-full:BorrowingsAdjustmentToInterestRateBasis>
  <ifrs-full:BorrowingsAdjustmentToInterestRateBasis contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_PeriodOfInterestRatesAxis_InterestPeriodOneMonthMember" unitRef="pure" decimals="4">0.031</ifrs-full:BorrowingsAdjustmentToInterestRateBasis>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d03-03-2015_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">29405000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="USD" decimals="-3">8580000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="USD" decimals="-3">10100000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="USD" decimals="-3">10725000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="USD" decimals="-3">6095000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="USD" decimals="-3">7697000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="USD" decimals="-3">8371000</ifrs-full:Borrowings>
  <glbs:BorrowingsNumberOfPeriodicPayments contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="pure" decimals="4">4</glbs:BorrowingsNumberOfPeriodicPayments>
  <glbs:BorrowingsNumberOfPeriodicPayments contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="pure" decimals="4">4</glbs:BorrowingsNumberOfPeriodicPayments>
  <glbs:BorrowingsNumberOfPeriodicPayments contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="pure" decimals="4">4</glbs:BorrowingsNumberOfPeriodicPayments>
  <glbs:BorrowingsFrequencyOfPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">quarterly</glbs:BorrowingsFrequencyOfPeriodicPayment>
  <glbs:BorrowingsFrequencyOfPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">quarterly</glbs:BorrowingsFrequencyOfPeriodicPayment>
  <glbs:BorrowingsFrequencyOfPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">quarterly</glbs:BorrowingsFrequencyOfPeriodicPayment>
  <glbs:BorrowingsPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="USD" decimals="-3">239000</glbs:BorrowingsPeriodicPayment>
  <glbs:BorrowingsPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="USD" decimals="-3">230000</glbs:BorrowingsPeriodicPayment>
  <glbs:BorrowingsPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="USD" decimals="-3">224000</glbs:BorrowingsPeriodicPayment>
  <glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="USD" decimals="-3">5139000</glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid>
  <glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="USD" decimals="-3">6777000</glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid>
  <glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="USD" decimals="-3">7475000</glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember">December 2019</ifrs-full:BorrowingsMaturity>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember">December 2019</ifrs-full:BorrowingsMaturity>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember">December 2019</ifrs-full:BorrowingsMaturity>
  <glbs:FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">1.25</glbs:FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio>
  <glbs:AmountOfEquityToBeRaised contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">1800000</glbs:AmountOfEquityToBeRaised>
  <glbs:MarketAdjustedNetWorth contextRef="FYm3Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">30000000</glbs:MarketAdjustedNetWorth>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i30-06-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember" unitRef="USD" decimals="-3">40000000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <ifrs-full:BorrowingsInterestRate contextRef="FYp0Q4e_RangeAxis_WeightedAverageMember" unitRef="pure" decimals="4">0.0497</ifrs-full:BorrowingsInterestRate>
  <glbs:MarketAdjustedNetWorth contextRef="i10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">30000000</glbs:MarketAdjustedNetWorth>
  <glbs:LiquidityToConsolidatedIndebtednessRatio contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">0.05</glbs:LiquidityToConsolidatedIndebtednessRatio>
  <glbs:TotalLiabilitiesToMarketAdjustedTotalAssetsRatio contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_TopOfRangeMember" unitRef="pure" decimals="4">0.75</glbs:TotalLiabilitiesToMarketAdjustedTotalAssetsRatio>
  <glbs:CompensatingBalanceAmountPerVessel contextRef="FYm3Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">250000</glbs:CompensatingBalanceAmountPerVessel>
  <glbs:LiquidityToConsolidatedIndebtednessRatio contextRef="FYm3YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">0.05</glbs:LiquidityToConsolidatedIndebtednessRatio>
  <glbs:DeferralFeePercentage contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">0.025</glbs:DeferralFeePercentage>
  <glbs:LoanPrincipalAmountDeferred contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheAMember_SignificantInvestmentsInSubsidiariesAxis_DevoceanMaritimeLtdMember" unitRef="USD" decimals="-3">956000</glbs:LoanPrincipalAmountDeferred>
  <glbs:LoanPrincipalAmountDeferred contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheBMember_SignificantInvestmentsInSubsidiariesAxis_DominaMaritimeLtdMember" unitRef="USD" decimals="-3">920000</glbs:LoanPrincipalAmountDeferred>
  <glbs:LoanPrincipalAmountDeferred contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_CreditFacilityAxis_TrancheCMember_SignificantInvestmentsInSubsidiariesAxis_DulacMaritimeSAMember" unitRef="USD" decimals="-3">898000</glbs:LoanPrincipalAmountDeferred>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d30-06-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAMember" unitRef="USD" decimals="-3">19000000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:BorrowingsInterestRate contextRef="FYm1Q4e_RangeAxis_WeightedAverageMember" unitRef="pure" decimals="4">0.038</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d30-09-2011_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheBMember" unitRef="USD" decimals="-3">18000000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d03-03-2015_BorrowingsByNameAxis_CreditSuisseAGLoanAgreementMember" unitRef="USD" decimals="-3">30000000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d31-07-2015_BorrowingsByNameAxis_CreditSuisseAGLoanAgreementMember" unitRef="USD" decimals="-3">5000000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d10-07-2017_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">1000000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <glbs:TotalLiabilitiesToMarketAdjustedTotalAssetsRatio contextRef="FYp0YTE_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="pure" decimals="4">0.77</glbs:TotalLiabilitiesToMarketAdjustedTotalAssetsRatio>
  <glbs:UnrealizedCashAndCashEquivalents contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">1893000</glbs:UnrealizedCashAndCashEquivalents>
  <glbs:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember" unitRef="USD" decimals="-3">13500000</glbs:LineOfCreditFacilityMaximumBorrowingCapacity>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember" unitRef="USD" decimals="-3">6000000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember" unitRef="USD" decimals="-3">7500000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <glbs:BorrowingsNumberOfPeriodicPayments contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember" unitRef="pure" decimals="4">20</glbs:BorrowingsNumberOfPeriodicPayments>
  <glbs:BorrowingsFrequencyOfPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember">quarterly</glbs:BorrowingsFrequencyOfPeriodicPayment>
  <glbs:BorrowingsPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember" unitRef="USD" decimals="-3">222000</glbs:BorrowingsPeriodicPayment>
  <glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember" unitRef="USD" decimals="-3">1560000</glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_ArtfulAdvanceMember">December 2023</ifrs-full:BorrowingsMaturity>
  <glbs:BorrowingsNumberOfPeriodicPayments contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember" unitRef="USD" decimals="-3">20000</glbs:BorrowingsNumberOfPeriodicPayments>
  <glbs:BorrowingsFrequencyOfPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember">quarterly</glbs:BorrowingsFrequencyOfPeriodicPayment>
  <glbs:BorrowingsPeriodicPayment contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember" unitRef="USD" decimals="-3">221000</glbs:BorrowingsPeriodicPayment>
  <glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember" unitRef="USD" decimals="-3">3080000</glbs:BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid>
  <ifrs-full:BorrowingsMaturity contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_CreditFacilityAxis_LongevityAdvanceMember">December 2023</ifrs-full:BorrowingsMaturity>
  <glbs:FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio contextRef="FYp0YTE_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">1.6</glbs:FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio>
  <glbs:CompensatingBalanceAmountPerVessel contextRef="FYp0Q4e_BorrowingsByNameAxis_MacquarieBankInternationalLimitedLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">375000</glbs:CompensatingBalanceAmountPerVessel>
  <glbs:CompensatingBalanceAmount contextRef="FYm3Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember_RangeAxis_BottomOfRangeMember" unitRef="USD" decimals="-3">750000</glbs:CompensatingBalanceAmount>
  <glbs:MarketAdjustedNetWorth contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">13550000</glbs:MarketAdjustedNetWorth>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="FYp0YTE_BorrowingsByNameAxis_DVBBankLoanAgreementMember_CreditFacilityAxis_TrancheAAndTrancheBMember" unitRef="USD" decimals="-3">15010000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">700000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
  <ifrs-full:LongtermBorrowings contextRef="FYp0Q4e_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">1500000</ifrs-full:LongtermBorrowings>
  <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_FirmentShippingIncMember" unitRef="USD" decimals="-3">131000</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
  <glbs:CompensatingBalanceAmount contextRef="FYp0Q4e_BorrowingsByNameAxis_HamburgCommercialBankAGLoanAgreementMember" unitRef="USD" decimals="-3">600000</glbs:CompensatingBalanceAmount>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" unitRef="shares" decimals="0">4790</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYm2YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" unitRef="shares" decimals="0">4790</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" id="f0" unitRef="shares" decimals="0">2094</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYm1YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" unitRef="shares" decimals="0">2094</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm2YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYm1YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember" id="f1" unitRef="USD" decimals="-3">30000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" id="f2" unitRef="shares" decimals="0">8797</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued contextRef="FYp0YTE_ClassesOfShareCapitalAxis_NumberOfOrdinarySharesMember" unitRef="shares" decimals="0">8797</ifrs-full:IncreaseDecreaseInNumberOfOrdinarySharesIssued>
  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="FYp0YTE_CategoriesOfRelatedPartiesAxis_NonExecutiveDirectorsMember_ComponentsOfEquityAxis_SharePremiumMember" id="f3" unitRef="USD" decimals="-3">50000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
  <glbs:StockRedeemedDuringPeriodShares contextRef="d30-06-2016_CategoriesOfRelatedPartiesAxis_ChiefExecutiveOfficerMember_ClassesOfShareCapitalAxis_SeriesaPreferredSharesMember" unitRef="shares" decimals="0">2567</glbs:StockRedeemedDuringPeriodShares>
  <ifrs-full:InsuranceExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">607000</ifrs-full:InsuranceExpense>
  <ifrs-full:InsuranceExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">742000</ifrs-full:InsuranceExpense>
  <ifrs-full:InsuranceExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">798000</ifrs-full:InsuranceExpense>
  <ifrs-full:RepairsAndMaintenanceExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">2721000</ifrs-full:RepairsAndMaintenanceExpense>
  <ifrs-full:RepairsAndMaintenanceExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">2222000</ifrs-full:RepairsAndMaintenanceExpense>
  <ifrs-full:RepairsAndMaintenanceExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">1699000</ifrs-full:RepairsAndMaintenanceExpense>
  <ifrs-full:RawMaterialsAndConsumablesUsed contextRef="FYp0YTE" unitRef="USD" decimals="-3">501000</ifrs-full:RawMaterialsAndConsumablesUsed>
  <ifrs-full:RawMaterialsAndConsumablesUsed contextRef="FYm1YTE" unitRef="USD" decimals="-3">496000</ifrs-full:RawMaterialsAndConsumablesUsed>
  <ifrs-full:RawMaterialsAndConsumablesUsed contextRef="FYm2YTE" unitRef="USD" decimals="-3">462000</ifrs-full:RawMaterialsAndConsumablesUsed>
  <glbs:StoresExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">1000000</glbs:StoresExpense>
  <glbs:StoresExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">783000</glbs:StoresExpense>
  <glbs:StoresExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">633000</glbs:StoresExpense>
  <ifrs-full:MiscellaneousOtherOperatingExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">330000</ifrs-full:MiscellaneousOtherOperatingExpense>
  <ifrs-full:MiscellaneousOtherOperatingExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">247000</ifrs-full:MiscellaneousOtherOperatingExpense>
  <ifrs-full:MiscellaneousOtherOperatingExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">267000</ifrs-full:MiscellaneousOtherOperatingExpense>
  <ifrs-full:FeeAndCommissionExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">281000</ifrs-full:FeeAndCommissionExpense>
  <ifrs-full:FeeAndCommissionExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">241000</ifrs-full:FeeAndCommissionExpense>
  <ifrs-full:FeeAndCommissionExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">151000</ifrs-full:FeeAndCommissionExpense>
  <ifrs-full:FuelExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">716000</ifrs-full:FuelExpense>
  <ifrs-full:FuelExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">968000</ifrs-full:FuelExpense>
  <ifrs-full:FuelExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">593000</ifrs-full:FuelExpense>
  <glbs:OtherVoyageExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">191000</glbs:OtherVoyageExpense>
  <glbs:OtherVoyageExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">143000</glbs:OtherVoyageExpense>
  <glbs:OtherVoyageExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">210000</glbs:OtherVoyageExpense>
  <ifrs-full:WagesAndSalaries contextRef="FYp0YTE" unitRef="USD" decimals="-3">4766000</ifrs-full:WagesAndSalaries>
  <ifrs-full:WagesAndSalaries contextRef="FYm1YTE" unitRef="USD" decimals="-3">4645000</ifrs-full:WagesAndSalaries>
  <ifrs-full:WagesAndSalaries contextRef="FYm2YTE" unitRef="USD" decimals="-3">4829000</ifrs-full:WagesAndSalaries>
  <glbs:PersonnelExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">778000</glbs:PersonnelExpense>
  <glbs:PersonnelExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">628000</glbs:PersonnelExpense>
  <glbs:PersonnelExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">1040000</glbs:PersonnelExpense>
  <ifrs-full:AuditorsRemuneration contextRef="FYp0YTE" unitRef="USD" decimals="-3">103000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:AuditorsRemuneration contextRef="FYm1YTE" unitRef="USD" decimals="-3">101000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:AuditorsRemuneration contextRef="FYm2YTE" unitRef="USD" decimals="-3">111000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:TravelExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">5000</ifrs-full:TravelExpense>
  <ifrs-full:TravelExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">3000</ifrs-full:TravelExpense>
  <ifrs-full:TravelExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">4000</ifrs-full:TravelExpense>
  <ifrs-full:CommunicationExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">9000</ifrs-full:CommunicationExpense>
  <ifrs-full:CommunicationExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">11000</ifrs-full:CommunicationExpense>
  <ifrs-full:CommunicationExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">19000</ifrs-full:CommunicationExpense>
  <glbs:StationeryExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">2000</glbs:StationeryExpense>
  <glbs:StationeryExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">2000</glbs:StationeryExpense>
  <glbs:StationeryExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">2000</glbs:StationeryExpense>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">118000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">116000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">264000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:OtherExpenseByNature contextRef="FYp0YTE" unitRef="USD" decimals="-3">265000</ifrs-full:OtherExpenseByNature>
  <ifrs-full:OtherExpenseByNature contextRef="FYm1YTE" unitRef="USD" decimals="-3">309000</ifrs-full:OtherExpenseByNature>
  <ifrs-full:OtherExpenseByNature contextRef="FYm2YTE" unitRef="USD" decimals="-3">626000</ifrs-full:OtherExpenseByNature>
  <glbs:ConsultingFeesExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">76000</glbs:ConsultingFeesExpense>
  <glbs:ConsultingFeesExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">54000</glbs:ConsultingFeesExpense>
  <glbs:ConsultingFeesExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">28000</glbs:ConsultingFeesExpense>
  <ifrs-full:InterestExpense contextRef="FYp0YTE" unitRef="USD" decimals="-3">2004000</ifrs-full:InterestExpense>
  <ifrs-full:InterestExpense contextRef="FYm1YTE" unitRef="USD" decimals="-3">1778000</ifrs-full:InterestExpense>
  <ifrs-full:InterestExpense contextRef="FYm2YTE" unitRef="USD" decimals="-3">2430000</ifrs-full:InterestExpense>
  <ifrs-full:BankAndSimilarCharges contextRef="FYp0YTE" unitRef="USD" decimals="-3">29000</ifrs-full:BankAndSimilarCharges>
  <ifrs-full:BankAndSimilarCharges contextRef="FYm1YTE" unitRef="USD" decimals="-3">34000</ifrs-full:BankAndSimilarCharges>
  <ifrs-full:BankAndSimilarCharges contextRef="FYm2YTE" unitRef="USD" decimals="-3">33000</ifrs-full:BankAndSimilarCharges>
  <glbs:AmortizationOfDebtDiscount contextRef="FYp0YTE" unitRef="USD" decimals="-3">23000</glbs:AmortizationOfDebtDiscount>
  <glbs:AmortizationOfDebtDiscount contextRef="FYm1YTE" unitRef="USD" decimals="-3">84000</glbs:AmortizationOfDebtDiscount>
  <glbs:AmortizationOfDebtDiscount contextRef="FYm2YTE" unitRef="USD" decimals="-3">128000</glbs:AmortizationOfDebtDiscount>
  <ifrs-full:OtherFinanceCost contextRef="FYp0YTE" unitRef="USD" decimals="-3">0</ifrs-full:OtherFinanceCost>
  <ifrs-full:OtherFinanceCost contextRef="FYm1YTE" unitRef="USD" decimals="-3">325000</ifrs-full:OtherFinanceCost>
  <ifrs-full:OtherFinanceCost contextRef="FYm2YTE" unitRef="USD" decimals="-3">85000</ifrs-full:OtherFinanceCost>
  <ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease contextRef="FYp0Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">2991000</ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease contextRef="FYm1Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">1548000</ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease contextRef="FYp0Q4e" unitRef="USD" decimals="-3">2991000</ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease contextRef="FYm1Q4e" unitRef="USD" decimals="-3">1548000</ifrs-full:MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYp0Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">142000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYm1Q4e_MaturityAxis_NotLaterThanOneYearMember" unitRef="USD" decimals="-3">149000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">567000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">596000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">142000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">299000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYp0Q4e" unitRef="USD" decimals="-3">851000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease contextRef="FYm1Q4e" unitRef="USD" decimals="-3">1044000</ifrs-full:MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease>
  <ifrs-full:AverageForeignExchangeRate contextRef="FYp0YTE" unitRef="EuroUSD" decimals="4">1.14</ifrs-full:AverageForeignExchangeRate>
  <ifrs-full:AverageForeignExchangeRate contextRef="FYm1YTE" unitRef="EuroUSD" decimals="4">1.2</ifrs-full:AverageForeignExchangeRate>
  <glbs:IncreaseInInterestRates contextRef="FYp0YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="pure" decimals="4">15</glbs:IncreaseInInterestRates>
  <glbs:IncreaseInInterestRates contextRef="FYm1YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="pure" decimals="4">15</glbs:IncreaseInInterestRates>
  <glbs:IncreaseInExchangeRates contextRef="FYm1YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="pure" decimals="4">0.1</glbs:IncreaseInExchangeRates>
  <glbs:IncreaseInExchangeRates contextRef="FYp0YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="pure" decimals="4">0.1</glbs:IncreaseInExchangeRates>
  <glbs:DecreaseInExchangeRates contextRef="FYp0YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="pure" decimals="4">-0.1</glbs:DecreaseInExchangeRates>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererMember" unitRef="pure" decimals="4">0.21</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="pure" decimals="4">0.17</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="pure" decimals="4">0.62</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE" unitRef="pure" decimals="4">1</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererMember" unitRef="pure" decimals="4">0.1</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="pure" decimals="4">0.13</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="pure" decimals="4">0.11</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="pure" decimals="4">0.66</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE" unitRef="pure" decimals="4">1</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="pure" decimals="4">0.11</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="pure" decimals="4">0.77</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE" unitRef="pure" decimals="4">1</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererMember" unitRef="USD" decimals="-3">3679000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="USD" decimals="-3">2873000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="USD" decimals="-3">10802000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererMember" unitRef="USD" decimals="-3">1404000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="USD" decimals="-3">1849000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="USD" decimals="-3">1459000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="USD" decimals="-3">9140000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererBMember" unitRef="USD" decimals="-3">890000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererCMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererDMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_OtherMajorCharterersMember" unitRef="USD" decimals="-3">6520000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYp0Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">1319000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYm1Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">1455000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYp0Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">6433000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYp0Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYm1Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">4258000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYm1Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">9472000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">24502000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">16465000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">50439000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">6858000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">12989000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">30285000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">50132000</ifrs-full:FinancialLiabilities>
  <glbs:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="FYp0Q4e" unitRef="USD" decimals="-3">1396000</glbs:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <glbs:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="FYm1Q4e" unitRef="USD" decimals="-3">2966000</glbs:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <glbs:AdjustedBookCapitalisation contextRef="FYm1Q4e" unitRef="USD" decimals="-3">11998000</glbs:AdjustedBookCapitalisation>
  <glbs:AdjustedBookCapiltaisationPlusNetDebt contextRef="FYp0Q4e" unitRef="USD" decimals="-3">50017000</glbs:AdjustedBookCapiltaisationPlusNetDebt>
  <glbs:AdjustedBookCapiltaisationPlusNetDebt contextRef="FYm1Q4e" unitRef="USD" decimals="-3">50692000</glbs:AdjustedBookCapiltaisationPlusNetDebt>
  <glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio contextRef="FYp0Q4e" unitRef="pure" decimals="4">0.73</glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio>
  <glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio contextRef="FYm1Q4e" unitRef="pure" decimals="4">0.76</glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit contextRef="FYm1YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="USD" decimals="-3">-69000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit contextRef="FYp0YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="USD" decimals="-3">-60000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit contextRef="FYm1YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="USD" decimals="-3">86000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit contextRef="FYp0YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="USD" decimals="-3">80000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit>
  <glbs:DecreaseInInterestRates contextRef="FYm1YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="pure" decimals="4">-20</glbs:DecreaseInInterestRates>
  <glbs:DecreaseInInterestRates contextRef="FYp0YTE_TypesOfRisksAxis_InterestRateRiskMember" unitRef="pure" decimals="4">-20</glbs:DecreaseInInterestRates>
  <glbs:DecreaseInExchangeRates contextRef="FYm1YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="pure" decimals="4">-0.1</glbs:DecreaseInExchangeRates>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit contextRef="FYm1YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="USD" decimals="-3">-251000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit contextRef="FYp0YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="USD" decimals="-3">-284000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit contextRef="FYm1YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="USD" decimals="-3">251000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit>
  <glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit contextRef="FYp0YTE_TypesOfRisksAxis_CurrencyRiskMember" unitRef="USD" decimals="-3">284000</glbs:SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">1720000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">24502000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">16465000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYp0Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYp0Q4e" unitRef="USD" decimals="-3">42687000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_NotLaterThanThreeMonthsMember" unitRef="USD" decimals="-3">1145000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="USD" decimals="-3">12989000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="USD" decimals="-3">30285000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYm1Q4e_MaturityAxis_LaterThanFiveYearsMember" unitRef="USD" decimals="-3">0</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:NoncurrentFinancialLiabilities contextRef="FYm1Q4e" unitRef="USD" decimals="-3">44419000</ifrs-full:NoncurrentFinancialLiabilities>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="USD" decimals="-3">0</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:RevenueFromRenderingOfServices contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="USD" decimals="-3">1013000</ifrs-full:RevenueFromRenderingOfServices>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYp0YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm1YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="pure" decimals="4">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="FYm2YTE_CounterpartiesAxis_MajorChartererEMember" unitRef="pure" decimals="4">0.12</ifrs-full:PercentageOfEntitysRevenue>
  <glbs:AdjustedBookCapitalisation contextRef="FYp0Q4e" unitRef="USD" decimals="-3">13550000</glbs:AdjustedBookCapitalisation>
  <glbs:PropertyPlantAndEquipmentFairValueAdjustment contextRef="FYm1Q4e" unitRef="USD" decimals="-3">31970000</glbs:PropertyPlantAndEquipmentFairValueAdjustment>
  <glbs:PropertyPlantAndEquipmentFairValueAdjustment contextRef="FYp0Q4e" unitRef="USD" decimals="-3">27500000</glbs:PropertyPlantAndEquipmentFairValueAdjustment>
  <ifrs-full:NetDebt contextRef="FYp0Q4e" unitRef="USD" decimals="-3">35767000</ifrs-full:NetDebt>
  <ifrs-full:NetDebt contextRef="FYm1Q4e" unitRef="USD" decimals="-3">38694000</ifrs-full:NetDebt>
  <glbs:NetDebtIncludingEmbeddedDerivative contextRef="FYp0Q4e" unitRef="USD" decimals="-3">36467000</glbs:NetDebtIncludingEmbeddedDerivative>
  <glbs:NetDebtIncludingEmbeddedDerivative contextRef="FYm1Q4e" unitRef="USD" decimals="-3">38694000</glbs:NetDebtIncludingEmbeddedDerivative>
  <glbs:ConvertibleDebtIncludingEmbeddedDerivative contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41660000</glbs:ConvertibleDebtIncludingEmbeddedDerivative>
  <glbs:BorrowingsPercentageBearingFixedInterestRate contextRef="FYp0Q4e" unitRef="pure" decimals="4">0.06</glbs:BorrowingsPercentageBearingFixedInterestRate>
  <glbs:BorrowingsPercentageBearingFixedInterestRate contextRef="FYm1Q4e" unitRef="pure" decimals="4">0</glbs:BorrowingsPercentageBearingFixedInterestRate>
  <glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio contextRef="FYp0Q4e_RangeAxis_BottomOfRangeMember" unitRef="pure" decimals="4">0.6</glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio>
  <glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio contextRef="FYp0Q4e_RangeAxis_TopOfRangeMember" unitRef="pure" decimals="4">0.8</glbs:NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio>
  <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="FYp0Q4e_LevelsOfFairValueHierarchyAxis_Level3OfFairValueHierarchyMember" unitRef="USD" decimals="-3">831000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
  <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="FYp0Q4e_MeasurementAxis_AtFairValueMember" unitRef="USD" decimals="-3">831000</ifrs-full:FinancialLiabilitiesAtFairValue>
  <glbs:BorrowingsGross contextRef="FYp0Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="USD" decimals="-3">37163000</glbs:BorrowingsGross>
  <glbs:BorrowingsGross contextRef="FYm1Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="USD" decimals="-3">41538000</glbs:BorrowingsGross>
  <ifrs-full:FinancialLiabilities contextRef="FYp0Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="USD" decimals="-3">37163000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="FYm1Q4e_MeasurementAxis_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="USD" decimals="-3">41538000</ifrs-full:FinancialLiabilities>
  <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="FYp0Q4e_MeasurementAxis_AtFairValueMember" unitRef="USD" decimals="-3">831000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
  <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="FYp0Q4e_LevelsOfFairValueHierarchyAxis_Level2OfFairValueHierarchyMember" unitRef="USD" decimals="-3">37030000</ifrs-full:FinancialLiabilitiesAtFairValue>
  <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="FYp0Q4e" unitRef="USD" decimals="-3">37030000</ifrs-full:FinancialLiabilitiesAtFairValue>
  <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="FYm1Q4e_LevelsOfFairValueHierarchyAxis_Level2OfFairValueHierarchyMember" unitRef="USD" decimals="-3">41219000</ifrs-full:FinancialLiabilitiesAtFairValue>
  <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="FYm1Q4e" unitRef="USD" decimals="-3">41219000</ifrs-full:FinancialLiabilitiesAtFairValue>
  <ifrs-full:BorrowingsInterestRate contextRef="i13-03-2019_CategoriesOfRelatedPartiesAxis_ConvertibleNoteIIMember" unitRef="pure" decimals="4">0.1</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:506.85pt; margin-left:35.45pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:154.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Company&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Country of Incorporation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessel Delivery&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Date&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessel Owned&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.5pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus Shipmanagement Corp.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Management Co&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.2pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Devocean Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;December 18, 2007&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v River Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:15pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Domina Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;May 19, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Sky Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Dulac Maritime S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;May 25, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Star Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Artful Shipholding S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;June 22, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Moon Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Longevity Maritime Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Malta&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;September 15, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Sun Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
  <glbs:DisclosureOfCashAndBankBalancesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.3pt; margin-left:36pt; border-collapse:collapse"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:106.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:21.9pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash on hand&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash at banks&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,756&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,756&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfCashAndBankBalancesExplanatory>
  <glbs:DisclosureOfCompensationOfNonExecutiveDirectors contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.6pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:216pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Director&amp;#8217;s remuneration &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;130&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share-based payments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;35&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;185&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;185&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;165&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfCompensationOfNonExecutiveDirectors>
  <glbs:DisclosureOfCompensationOfExecutiveDirector contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:427pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:214.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Short-term employee benefits &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;235&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;229&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;82&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share-based payments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;235&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;229&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;97&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfCompensationOfExecutiveDirector>
  <glbs:DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:130.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Lubricants &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;313&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;328&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Gas cylinders &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;78&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;63&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;259&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;270&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;650&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;661&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory>
  <glbs:DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.15pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:128.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;216&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other prepayments and other assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;171&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;171&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;426&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory>
  <glbs:DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:439.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="5" style="width:119.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:61.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;114&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;274&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="border-top-style:solid; border-top-width:1pt; vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued audit fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;57&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other accruals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;999&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;996&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Insurance deductibles &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;102&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;139&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;47&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:39.55pt"&gt;&lt;/td&gt;&lt;td style="width:269.65pt"&gt;&lt;/td&gt;&lt;td style="width:39.55pt"&gt;&lt;/td&gt;&lt;td style="width:31.05pt"&gt;&lt;/td&gt;&lt;td style="width:3.6pt"&gt;&lt;/td&gt;&lt;td style="width:54.4pt"&gt;&lt;/td&gt;&lt;td style="width:2.1pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory>
  <ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:410.2pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:156.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Authorised share capital:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;500,000,000 Common shares of par value $0.004 each&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100,000,000 Class B Common shares of par value $0.001 each&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100,000,000 Preferred shares of par value $0.001 each &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total authorised share capital&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory>
  <glbs:DisclosureOfCommonSharesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:418.15pt; margin-left:42.55pt; border-collapse:collapse"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Common Shares issued and fully paid&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;USD&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;257,965&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;262,755&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,750,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock due to exercise of warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;148,181&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,163,030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock due to exercise of warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,209,327&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfCommonSharesExplanatory>
  <glbs:DisclosureOfPreferredSharesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:411pt; margin-left:56.7pt; border-collapse:collapse"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Series A Preferred&amp;#160; Shares issued&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;USD&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As a January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,567&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Shares redeemed by the issuer&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2,567)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfPreferredSharesExplanatory>
  <glbs:DisclosureOfEarningsPerShareTableExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:471.6pt; margin-left:28.35pt; border-collapse:collapse"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:215pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Loss attributable to common equity holders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(3,568)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(6,475)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(9,825)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Weighted average number of shares for basic and diluted LPS&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3,200,927&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,574,995&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;260,384&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfEarningsPerShareTableExplanatory>
  <glbs:DisclosureOfShareBasedPayment contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:442.7pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:24.05pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:11.4pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.7pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:427.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:21.85pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(1)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;30&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;30&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1) These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:434.05pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:27.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.8pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfShareBasedPayment>
  <glbs:DisclosureOfAdministrativeExpenses contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:446.75pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:207.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;778&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;628&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,040&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Audit fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;103&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;101&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;111&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Travelling expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Consulting fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;76&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;54&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;28&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Communication&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;19&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Stationery&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Greek authorities tax (note 20) &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;118&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;116&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;264&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;265&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;309&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;626&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,356&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,224&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:228.85pt"&gt;&lt;/td&gt;&lt;td style="width:72.95pt"&gt;&lt;/td&gt;&lt;td style="width:72.6pt"&gt;&lt;/td&gt;&lt;td style="width:68.3pt"&gt;&lt;/td&gt;&lt;td style="width:4.05pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfAdministrativeExpenses>
  <glbs:DisclosureOfInterestExpenseAndFinanceCostsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:445.65pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:188.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Interest payable on long-term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2.004&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,778&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,430&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bank charges &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;34&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;33&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Amortization of debt discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;84&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;128&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other finance expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;325&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;85&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.056&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,676&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfInterestExpenseAndFinanceCostsExplanatory>
  <glbs:DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:425.25pt; margin-left:28.35pt; border-collapse:collapse"&gt;&lt;tr style="height:16.4pt"&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Within one year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,991&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,548&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,991&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,548&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory>
  <glbs:DisclosureOfFutureMinimumLeasePaymentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:387.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:1.2pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Within one year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;149&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;After one year but not more than five years&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:8pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;567&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;596&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;More than five years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;299&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;851&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfFutureMinimumLeasePaymentsExplanatory>
  <glbs:DisclosureOfForeignCurrencyRiskExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:460.25pt; margin-left:36pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Change in rate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Effect on loss &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;+10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(284)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;284&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;+10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(251)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:15.05pt"&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;251&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfForeignCurrencyRiskExplanatory>
  <glbs:DisclosureOfConcentrationOfCreditRiskExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:387.65pt; margin-left:42.05pt; border-collapse:collapse"&gt;&lt;tr style="height:25.4pt"&gt;&lt;td style="width:62.85pt; border:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3,679&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;21%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,404&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;B&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,873&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;17%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;890&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;C&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,849&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21.1pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;D&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,459&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;E&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;10,802&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;62%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;9,140&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;66%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,520&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;77%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;17,354&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13,852&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,423&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfConcentrationOfCreditRiskExplanatory>
  <ifrs-full:DescriptionOfManagingLiquidityRisk contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:434.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year ended December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less than 3 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3 to 12 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1 to 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;More than 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;24,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;16,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;465&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;42,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued liabilities and other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Trade payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,433&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,433&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,472&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;24,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;16,46&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,43&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; * This table includes both &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;the derivative component and the non-derivative host.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;of the hybrid agreement with Firment Shipping Credit Facility (see Note 12)&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:436pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less than 3 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3 to 12 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1 to 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;More than 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12,989&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;30,285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;44,419&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued liabilities and other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Trade payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,258&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,258&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,858&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;12,989&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;30,285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,132&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfManagingLiquidityRisk>
  <glbs:DisclosureOfVoyageAndVesselOperatingExpenses contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Voyage expenses consisted of:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:195.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Commissions &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;241&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;151&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:20.4pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;716&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;968&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;593&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other voyage expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;191&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;143&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,188&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,352&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;954&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Vessel operating expenses consisted of:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:441.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13pt"&gt;&lt;td colspan="2" style="width:228.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:191.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Crew wages and related costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,766&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,645&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,829&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Insurance &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;607&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;742&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;798&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Spares, repairs and maintenance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,721&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,222&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,699&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Lubricants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;501&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;496&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;462&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Stores&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;783&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;633&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;330&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;247&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;267&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,925&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,135&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,688&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:239.05pt"&gt;&lt;/td&gt;&lt;td style="width:0.3pt"&gt;&lt;/td&gt;&lt;td style="width:68.4pt"&gt;&lt;/td&gt;&lt;td style="width:68.85pt"&gt;&lt;/td&gt;&lt;td style="width:65.2pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfVoyageAndVesselOperatingExpenses>
  <glbs:DisclosureOfInterestRateRiskExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:460.7pt; margin-left:35.45pt; border-collapse:collapse"&gt;&lt;tr style="height:23pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Increase/(Decrease) in basis points&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-right:1.6pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Effect on loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;$ Libor&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(60)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-20&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;80&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;$ Libor&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(69)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-20&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;86&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfInterestRateRiskExplanatory>
  <glbs:DisclosureOfCapitalManagementExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Adjusted book capitalization refers to total equity adjusted for the market value of the Company&amp;#8217;s vessels. The Company&amp;#8217;s policy is to keep the ratio described above between a range of 60% - 80%.&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:459.45pt; margin-left:7.1pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:136.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160; December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Interest bearing loans&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,863&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash (including restricted cash)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,396)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(2,966)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;36,467&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;38,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,050&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;43,968&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Adjustment for the market value of vessels (charter-free)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(27,500)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(31,970)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Adjusted book capitalization&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,550&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11,998&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Adjusted book capitalization plus net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,692&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Ratio&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;73%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;76%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated above is not consistent with the International Financial Reporting Standards (&amp;#8220;IFRS&amp;#8221;) definition of debt. The following reconciliation is provided:&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:439.45pt; margin-left:28.35pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160; December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Debt in accordance with IFRS (long and short-term borrowings)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;36,868&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Add: Unamortized debt discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;295&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Less: Cash and bank balances and bank deposits (including restricted cash)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,396&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,966&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;35,767&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;38,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfCapitalManagementExplanatory>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Cash and cash equivalents and Restricted cash&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the purpose of the consolidated statement of financial position, cash and cash equivalents comprise the following:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.3pt; margin-left:36pt; border-collapse:collapse"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_cbc365bf592c4f1796cae9160ac4d42b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:106.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:21.9pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash on hand&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash at banks&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,756&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,756&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash held in banks earns interest at floating rates based on daily bank deposit rates.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The fair value of cash and cash equivalents as at December 31, 2018 and 2017, was $46 and $2,756, respectively. In addition as of December 31, 2018, the Company had available $12,800 (2017: $3,000) of undrawn borrowing facilities (note 12).&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As at December 31, 2018 and 2017, the Company had pledged an amount of $1,350 and $210, respectively in order to fulfil collateral requirements. The fair value of restricted cash as at December 31, 2018 and 2017, was $1,350 and $210, respectively. The cash and cash equivalents are held with reputable bank and financial institution counterparties.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Transactions with Related Parties&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The ultimate controlling party of the Company is Mr. George Feidakis who beneficially owns 1,420,163 common shares as of December 31, 2018, through Firment Shipping Inc., a Marshall Islands corporation controlled by Mr Feidakis. As at December 31, 2018 and 2017, Mr Feidakis beneficially owned 44.3% and 58.7%, respectively, of Globus&amp;#8217; shares. Mr. George Feidakis is also the chairman of the Board of Directors of Globus.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The following are the major transactions which the Company has entered into with related parties during the years ended December 31, 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In August 2006, Globus had entered into a rental agreement for 350 square metres of office space for its operations within a building owned by Cyberonica S.A. (an affiliate of Globus&amp;#8217;s chairman).&amp;#160; In 2016 the Company renewed the rental agreement at a monthly rate of Euro 10,360 (absolute amount) ($11.9) with a lease period ending January 2, 2025. The Company does not presently own any real estate.&amp;#160; During the years ended December 31, 2018, 2017 and 2016, rent expense was $147, $140 and $138, respectively. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The expense is recognised in the income statement component of the consolidated statement of comprehensive loss under administrative expenses payable to related parties. As of December 31, 2018 and 2017, $427 and $471 of rent expense, respectively was due and unpaid. Rent expense payable to related parties is classified as trade accounts payable in the consolidated statement of financial position.&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 28, 2015, Athanasios Feidakis assumed the position of Chief Executive Officer (&amp;#8220;CEO&amp;#8221;) and Chief Financial Officer. On August 18, 2016, the Company entered into a consultancy agreement with an affiliated company of its CEO, Mr. Athanasios Feidakis, for the purpose of providing consulting services to the Company in connection with the Company&amp;#8217;s international shipping and capital raising activities, including but not limited to assisting and advising the Company&amp;#8217;s CEO at an annual fee of Euro 200,000 (absolute amount) (approx. $229). The related expense for the years ended December 31, 2018, 2017 and 2016, amounted to $235, $229 and $97, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In December 2013, Globus entered into a credit facility for up to $4,000 with Firment Trading Limited, an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (&amp;#8220;Firment Credit Facility&amp;#8221;). Effective from December 2014, through a supplemental agreement in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through a second supplemental agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a third supplemental agreement, the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall Islands corporation, each of which is an affiliate of the Company&amp;#8217;s chairman. The Company had the right to drawdown any amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On February 8, 2017, the Company entered into a Share and Warrant Purchase Agreement (&amp;#8220;February 2017 private placement&amp;#8221;) pursuant to which it sold for $5,000 an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &amp;#8220;February 2017 Warrants&amp;#8221;) to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor is the sister of the CEO of Globus and the daughter of its chairman. These securities were issued in transactions exempt from registration under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In connection with the closing of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;One loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12, 2017. Firment Trading Limited waived any interest under Firment Credit Facility for 2017. For the year ended December 31, 2016, Globus recognized interest expense of $608.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In January 2016, Globus Maritime Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (&amp;#8220;the Silaner Credit Facility&amp;#8221;) The Silaner Credit Facility was unsecured and remained available until its final maturity date at January 12, 2018. The Company had the right to drawdown any amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged on the amounts remaining available and undrawn.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the years ended December 31, 2017 and 2016, Globus recognised interest expense of $3 and $74, respectively. The expense was classified in the income statement component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable is classified in the statement of financial position under accrued liabilities and other payables.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The second loan amendment agreement in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share. During 2017, the Company drew down $ 280 under this facility. As of December 31, 2017, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. The Silaner Credit Facility was terminated on January 12, 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In June 2016, Globus Maritime Limited entered into a consultancy agreement with Eolos Shipmanagement S.A., an affiliate of the Company&amp;#8217;s chairman, for the purpose of providing consultancy services to Eolos Shipmanagement S.A. For these services the Company received a daily fee of $1. This agreement was terminated on January 31, 2017. For the year ended 2018, 2017 and 2016, the total income from these fees amounted to nil, $31 and $187, respectively and is classified in the income statement component of the consolidated statement of comprehensive loss under management and consulting fee income.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In November 2018, Globus entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (&amp;#8220;Firment Shipping Credit Facility&amp;#8221;. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right to drawdown any amount up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee is charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the Drawdown Date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility&amp;#160; into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&amp;#8220;VWAP&amp;#8221;) over the pricing period multiplied by 80%, where the &amp;#8220;Pricing Period&amp;#8221; equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or, (ii) Two US Dollars and Eighty Cents ($2.80).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was $2,200 and was classified under long-term borrowings, net of the current portion and the fair value of the derivative financial instruments in the consolidated statement of financial position(see Note 12). For the year ended December 31, 2018, Globus recognised interest expense of $12, classified in the income statement component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable is classified in the consolidated statement of financial position under accrued liabilities and other payables. As of December 31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Firment Shipping Credit Facility requires that Athanasios Feidakis remain the Company&amp;#8217;s Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018 the Company in compliance with the loan covenants of the Firment Shipping Credit Facility.&lt;/font&gt;&lt;/p&gt;&lt;h6 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h6&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;h6 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Compensation of Key Management Personnel of the Company: &lt;/font&gt;&lt;/h6&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Compensation to Globus non-executive directors is analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.6pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_d202caba3c2f4fcc9dd80464ba7dc9bc"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:216pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Director&amp;#8217;s remuneration &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;130&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share-based payments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;35&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;185&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;185&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;165&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018 and 2017, $201 and $126 of the compensation to non-executive directors was remaining due and unpaid, respectively. Amounts payable to non-executive directors are classified as trade accounts payable in the consolidated statements of financial position.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Compensation to the Company&amp;#8217;s executive director is analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:427pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_ed1c9704e7b84326a61619e5f1a9f47b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:214.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Short-term employee benefits &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;235&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;229&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;82&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share-based payments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:80.85pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;235&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;229&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;97&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018 and 2017, $391 and $239 of the compensation to the executive director was remaining due and unpaid, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory>
  <ifrs-full:DisclosureOfInventoriesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Inventories&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Inventories in the consolidated statement of financial position are analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:428.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_7ef5af336736464bb7a22bc2e1d097fc"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:130.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Lubricants &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;313&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;328&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Gas cylinders &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;78&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;63&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;259&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;270&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.45pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;650&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;661&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfInventoriesExplanatory>
  <ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;7&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Prepayments and other assets&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Prepayments and other assets in the consolidated statement of financial position are analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.15pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_03fdfbf803eb4c0f8f9e0f1de7eff761"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:128.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;216&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other prepayments and other assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;171&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;171&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;426&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory>
  <ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Trade accounts payable&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Trade accounts payable in the consolidated statement of financial position as at December 31, 2018 and 2017, amounted to $6,433 and $4,258, respectively. Trade accounts payable are non-interest bearing.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory>
  <ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Accrued liabilities and other payables&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:48pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued liabilities and other payables in the consolidated statement of financial position are analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:439.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_d713e014f05a4893abbbdeceb214b03c"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="5" style="width:119.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:61.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;114&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;274&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="border-top-style:solid; border-top-width:1pt; vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued audit fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;57&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other accruals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;999&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;996&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Insurance deductibles &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;102&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;139&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;47&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:18.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:47.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:39.55pt"&gt;&lt;/td&gt;&lt;td style="width:269.65pt"&gt;&lt;/td&gt;&lt;td style="width:39.55pt"&gt;&lt;/td&gt;&lt;td style="width:31.05pt"&gt;&lt;/td&gt;&lt;td style="width:3.6pt"&gt;&lt;/td&gt;&lt;td style="width:54.4pt"&gt;&lt;/td&gt;&lt;td style="width:2.1pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Interest is normally settled quarterly throughout the year.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:27.14pt; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other payables are non-interest bearing.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;10&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Share Capital and Share Premium&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The authorised share capital of Globus consisted of the following:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:410.2pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_eff0d5d09b02480a8558821cd6540876"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:156.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Authorised share capital:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;500,000,000 Common shares of par value $0.004 each&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100,000,000 Class B Common shares of par value $0.001 each&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100,000,000 Preferred shares of par value $0.001 each &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;100&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.3pt"&gt;&lt;td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total authorised share capital&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Holders of the Company&amp;#8217;s common shares and Class B shares have equivalent economic rights, but holders of Company&amp;#8217;s common shares are entitled to one vote per share and holders of the Company&amp;#8217;s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares.&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:418.15pt; margin-left:42.55pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; font-size:9pt"&gt;&lt;a name="DM_MAP_fddb13c7ac854a2e8a98cd5f060e8da7"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Common Shares issued and fully paid&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;USD&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;257,965&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;262,755&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,750,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock due to exercise of warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;148,181&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,163,030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year for share based compensation (note 13)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issuance of common stock due to exercise of warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,209,327&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On February 8, 2017, the Company entered into a Share and Warrant Purchase Agreement (&amp;#8220;February 2017 private placement&amp;#8221;) pursuant to which it sold for $5,000, an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &amp;#8220;February 2017 Warrants&amp;#8221;) to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor is the CEO&amp;#8217;s sister and the daughter of its chairman. These securities were issued in transactions exempt from registration under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In connection with the closing of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;One loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The second loan amendment agreement in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Further to the February 2017 private placement two investors, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised their warrants in 2017 purchasing 148,181 shares for the aggregate gross proceeds to the Company of approximately $2,371. In January 2018 one investor, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised its warrants, purchasing 37,500 of the Company&amp;#8217;s common shares for aggregate gross proceeds to the Company of approximately $600. Each of the February 2017 Warrants were exercisable for 24 months after their respective issuance.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018 and 2017, in connection with the February 2017 private placement, the February 2017 Warrants outstanding were exercisable for an aggregate of 3,052,321 and 3,089,821 common shares respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On October 19, 2017, the Company entered into a Share and Warrant Purchase Agreement (the &amp;#8220;October 2017 SPA&amp;#8221;) pursuant to which it sold for $2,500 an aggregate of 250,000 of its common shares, par value $0.004 per share and a warrant (the &amp;#8220;October 2017 Warrant&amp;#8221;) to purchase 1.25 million of its common shares at a price of $16 per share to an investor in a private placement (the &amp;#8220;October 2017 Private Placement&amp;#8221;). These securities were issued in transactions exempt from registration under the Securities Act of 1933, as amended. On that day, Company also entered into a registration rights agreement with the purchaser providing it with certain rights relating to registration under the Securities Act of the 250,000 common shares issued in connection with the October 2017 Private Placement and the common shares underlying the October 2017 Warrant.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Under the terms of the October 2017 Warrant, the purchaser may not exercise its warrant to the extent such exercise would cause the purchaser, together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&amp;#8217; notice, but not to exceed 9.99%) of Globus&amp;#8217;s then outstanding common shares immediately following such exercise, excluding for purposes of such determination common shares issuable upon exercise of the October 2017 Warrant which have not been exercised. This provision does not limit the purchaser from acquiring up to 4.99% of our common shares, selling all of its common shares, and re-acquiring up to 4.99% of our common shares. The October 2017 Warrant is exercisable for 24 months after its issuance. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018 and 2017, in connection with the &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;October 2017 SPA&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;, the October 2017 Warrant was outstanding and exercisable for an aggregate of 1,250,000 common shares.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company during 2017 had recorded $218 expense in connection with these warrants which was deducted from share premium in equity.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;During the years ended December 31, 2018, 2017 and 2016, Globus issued 8,797, 2,094 and 4,790 common shares respectively as share-based payments. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:411pt; margin-left:56.7pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;a name="DM_MAP_85b287a34ace44e89ffdcb4fa14edbce"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Series A Preferred&amp;#160; Shares issued&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;USD&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As a January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,567&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Shares redeemed by the issuer&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2,567)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Issued during the year &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;As at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The holders of Company&amp;#8217;s series A preferred shares were entitled to receive, if funds were legally available, dividends payable in cash in an amount per share to be determined by unanimous resolution of Company&amp;#8217;s Remuneration Committee, in its sole discretion. Globus&amp;#8217;s board of directors or Remuneration Committee would determine whether funds were legally available under the Marshall Islands Business Corporations Act (&amp;#8220;BCA&amp;#8221;) for such dividend.&amp;#160; Any accrued but unpaid dividends would not bear interest.&amp;#160; Except as could have been provided in the BCA, holders of the series A preferred shares did not have any voting rights.&amp;#160; Upon the Company&amp;#8217;s liquidation, dissolution or winding up, the holders of its series A preferred shares would be entitled to a preference in the amount of the declared and unpaid dividends, if any, as of the date of liquidation, dissolution or winding up.&amp;#160; The series A preferred shares were not convertible into any of its other capital stock. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In July 2016 the 2,567 series A preferred shares, granted to the Company&amp;#8217;s former Chief Executive Officer were redeemed and as of December 31, 2018 and 2017 the Company had no series A preferred shares outstanding.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, 2017 and 2016, no Class B shares were outstanding.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share premium includes the contribution of Globus&amp;#8217; shareholders to the acquisition of the Company&amp;#8217;s vessels. Additionally, share premium includes the effects of the Globus initial and follow-on public offerings, the effects of the settlement of the related party loans (note 4) with the issuance of the Company&amp;#8217;s common shares and the effects of the share based payments described in note 13. Accordingly, at December 31, 2018, 2017 and 2016, Globus share premium amounted to $140,334, $139,684 and $110,013, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory>
  <ifrs-full:DisclosureOfEarningsPerShareExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;11&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Loss per Share&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Basic loss per share (&amp;#8216;&amp;#8216;LPS&amp;#8217;&amp;#8217;) is calculated by dividing the net loss for the year attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding.&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Diluted loss per share is calculated by dividing the net loss attributable to common equity holders of the parent by the weighted average shares outstanding during the year plus the weighted average number of common shares that would be issued on the conversion of all the dilutive potential common shares into common shares. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company excluded the dilutive effect of 4,302,321 of potential common shares issuable upon exercise of warrants as their effect was anti-dilutive.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The following reflects the loss and share data used in the basic and diluted loss per share computations:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:471.6pt; margin-left:28.35pt; border-collapse:collapse"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_c52b1d40abae485abb222b054c1e1f3f"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:215pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Loss attributable to common equity holders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(3,568)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(6,475)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(9,825)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Weighted average number of shares for basic and diluted LPS&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3,200,927&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,574,995&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;260,384&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfEarningsPerShareExplanatory>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13&amp;#160;&amp;#160;&amp;#160;&amp;#160; Share Based Payment&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share-based payments are quarterly restrictive share issuance to our Non-executive directors as instructed by their appointment letters.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Share based payment comprise the following:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:442.7pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:24.05pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_27d1c83a5ddb43acac86524859e9cef8"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2018&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:11.4pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.7pt"&gt;&lt;td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,797&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:427.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:21.85pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(1)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;30&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.9pt"&gt;&lt;td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;30&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1) These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:434.05pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:27.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of common shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Number of preferred shares &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Retained earnings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.95pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Non-executive directors payment &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.8pt"&gt;&lt;td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,790&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Non-executive director&amp;#8217;s payments:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Refers to the common shares issued or accrued during the year to the Company&amp;#8217;s non-executive directors pursuant to their letters of appointment. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31, 2017:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Non-executive director&amp;#8217;s payments:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Refers to the common shares issued or accrued during the year to the Company&amp;#8217;s non-executive directors pursuant to their letters of appointment. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31, 2016:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Non-executive director&amp;#8217;s payments:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Refers to the common shares issued or accrued during the year to the Company&amp;#8217;s non-executive directors pursuant to their letters of appointment. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Series A Preferred shares:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Upon the former Chief Executive Officer&amp;#8217;s resignation in July 2016, the 2,567 series A preferred shares, granted to him on April 20, 2012, were redeemed (Note 10). As of December 31, 2018, 2017 and 2016, there were no series A preferred shares outstanding.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;14&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Voyage Expenses and Vessel Operating Expenses&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Voyage expenses and vessel operating expenses in the consolidated statements of comprehensive loss consisted of the following:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Voyage expenses consisted of:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:195.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Commissions &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;241&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;151&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:20.4pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bunkers expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;716&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;968&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;593&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other voyage expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;191&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;143&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:53.7pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,188&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,352&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;954&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In respect of the election to apply IFRS 15 fully retrospectively, for the year ended December 31, 2018, 2017 and 2016, Voyage expenses decreased by $668, $540 and $317, respectively (Note 2.2).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessel operating expenses consisted of:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:441.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13pt"&gt;&lt;td colspan="2" style="width:228.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:191.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Crew wages and related costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,766&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,645&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,829&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Insurance &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;607&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;742&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;798&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Spares, repairs and maintenance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,721&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,222&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,699&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Lubricants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;501&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;496&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;462&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Stores&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;783&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;633&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;330&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;247&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;267&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:57.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,925&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:58.05pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,135&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:54.4pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,688&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:239.05pt"&gt;&lt;/td&gt;&lt;td style="width:0.3pt"&gt;&lt;/td&gt;&lt;td style="width:68.4pt"&gt;&lt;/td&gt;&lt;td style="width:68.85pt"&gt;&lt;/td&gt;&lt;td style="width:65.2pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory>
  <ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;15&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Administrative Expenses&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The amount shown in the consolidated statements of comprehensive loss is analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:446.75pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_2a416e17fd38473b92500114c5ed1857"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:207.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;778&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;628&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,040&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Audit fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;103&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;101&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;111&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Travelling expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Consulting fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;76&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;54&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;28&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Communication&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;19&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Stationery&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Greek authorities tax (note 20) &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;118&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;116&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;264&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;265&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;309&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;626&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,356&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,224&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align:top"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:0pt"&gt;&lt;td style="width:228.85pt"&gt;&lt;/td&gt;&lt;td style="width:72.95pt"&gt;&lt;/td&gt;&lt;td style="width:72.6pt"&gt;&lt;/td&gt;&lt;td style="width:68.3pt"&gt;&lt;/td&gt;&lt;td style="width:4.05pt"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory>
  <ifrs-full:DisclosureOfInterestExpenseExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;16&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Interest Expense and Finance Costs&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The amounts in the consolidated statements of comprehensive loss are analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:445.65pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_74b6770c940d46b480813061e98e3d62"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:188.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Interest payable on long-term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2.004&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,778&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,430&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Bank charges &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;34&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;33&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Amortization of debt discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;84&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;128&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other finance expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;325&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;85&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.6pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.056&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.65pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:57.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,676&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfInterestExpenseExplanatory>
  <ifrs-full:DisclosureOfDividendsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;17&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Dividends &lt;/font&gt;&lt;/p&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;Dividends declared and paid during the years ended December 31, 2018, 2017 and 2016, are as follows:&lt;/font&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;No dividends were declared or paid on common shares during the years ended December 31, 2018 and 2017.&lt;/font&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;No dividends declared on common shares during the year ended December 31, 2016. A final payment of $14 was made in January 2016 relating to dividends declared in 2015. No dividends declared or paid on the Company&amp;#8217;s Series A Preferred shares during the year ended December 31, 2016. In July 2016, the 2,567 Series A Preferred shares were redeemed and, as of December 31, 2016, there were no Series A Preferred shares outstanding.&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfDividendsExplanatory>
  <ifrs-full:DisclosureOfContingentLiabilitiesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;18&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Contingencies&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business.&amp;#160; 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&amp;#8217;s vessels. Currently, management is not aware of any such claims or contingent liabilities, which are material for disclosure. &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfContingentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfCommitmentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;19&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Commitments&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company enters into time charter and bareboat charter arrangements on its vessels. These non-cancellable arrangements had remaining terms between five days to seven months as of December 31, 2018 and between six days to two months as of December 31, 2017, assuming redelivery at the earliest possible date. Future net minimum lease revenues receivable under non-cancellable operating leases as of December 31, 2018 and 2017, were as follows (vessel off-hires and dry-docking days that could occur but are not currently known are not taken into consideration andearly delivery of the vessels by the charterers is not accounted for):&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:425.25pt; margin-left:28.35pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:16.4pt"&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_0e87e9d35464472abb1c564496ee63d7"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Within one year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,991&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,548&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,991&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,548&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;At December 31, 2018 and 2017, the Company was a party to an operating lease agreement as lessee (note 4). The operating lease relates to the office premises at a monthly rate of Euro 10,360 (absolute amount) and for a lease period ending January 2, 2025. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The future minimum lease payments under this agreement as of December 31, 2018 and 2017, assuming a Euro: US dollar exchange rate for 2018 1:1.14 and for 2017: 1:1.20, were as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:387.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_1e4f2514de284a9093c8beb2ca9f362a"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:1.2pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Within one year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;149&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;After one year but not more than five years&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:8pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;567&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;596&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;More than five years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;299&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:62.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;851&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:69.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Total rent expense under operating leases for the years ended December 31, 2018, 2017 and 2016, amounted to $147, $140 and $138 respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfCommitmentsExplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;21&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial risk management objectives and policies&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;The Company&amp;#8217;s financial liabilities are bank loans, trade and other payables and the financial derivative instrument. The main purpose of these financial liabilities is to assist in the financing of Company&amp;#8217;s operations and the acquisition of vessels. The Company has various financial assets such as trade accounts receivable and cash and short-term deposits, which arise directly from its operations. The main risks arising from the Company&amp;#8217;s financial instruments are cash flow interest rate risk, credit risk, liquidity risk and foreign currency risk.&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Interest rate risk&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;#8217;s exposure to the risk of changes in market interest rates relates primarily to the Company&amp;#8217;s long-term debt obligations with floating interest rates. As of December 31, 2017, no borrowings were at a fixed rate of interest and as of December 31, 2018, 6% of the Company&amp;#8217;s bank borrowings were at a fixed rate of interest.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Interest rate risk table&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The following table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of the Company&amp;#8217;s loss. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:460.7pt; margin-left:35.45pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:23pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;a name="DM_MAP_d17aee57727f466d9f78f48fdb0d8882"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Increase/(Decrease) in basis points&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-right:1.6pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Effect on loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;$ Libor&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(60)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-20&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;80&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;$ Libor&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(69)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.5pt"&gt;&lt;td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-20&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;86&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Foreign currency risk&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;#8217;s loss due to changes in the fair value of monetary assets and liabilities. The Company&amp;#8217;s exposure to foreign currency changes for all other currencies as of December 31, 2018 and 2017, was not material.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:460.25pt; margin-left:36pt; border-collapse:collapse; text-align:left"&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;a name="DM_MAP_621cec3e123244ce996907934f54ece9"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Change in rate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Effect on loss &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;+10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(284)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;284&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;+10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(251)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:15.05pt"&gt;&lt;td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;251&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Credit risk&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company operates only with recognised, creditworthy third parties including major charterers, commodity traders and government owned entities. Receivable balances are monitored on an ongoing basis with the result that the Company&amp;#8217;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&amp;#8217;s exposure to credit risk arises from default of the counter parties, which are recognised financial institutions. The Company performs annual evaluations of the relative credit standing of these counter parties. The exposure of these financial instruments is equal to their carrying amount as indicated in the consolidated statement of financial position. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Concentration of credit risk table:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The following table provides information with respect to charterers who individually, accounted for approximately more than 10% of the Company&amp;#8217;s revenue for the years ended December 31, 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:387.65pt; margin-left:42.05pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:25.4pt"&gt;&lt;td style="width:62.85pt; border:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;a name="DM_MAP_96716151fa7d4bf0a7846788a267be5a"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3,679&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;21%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,404&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;10%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;B&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,873&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;17%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;890&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;C&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,849&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21.1pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;D&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,459&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;E&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Other &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;10,802&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;62%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;9,140&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;66%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,520&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;77%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.75pt"&gt;&lt;td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;17,354&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;13,852&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.8pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:36.95pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,423&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;100%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Liquidity risk&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company mitigates liquidity risk by managing cash generated by its operations, applying cash collection targets appropriately. The vessels are normally chartered under time-charter, bareboat and spot agreements where, as per the industry practice, the charterer pays for the transportation service 15 days in advance, supporting the management of cash generation. Vessel acquisitions are carefully controlled, with authorisation limits operating up to board level and cash payback periods applied as part of the investment appraisal process. In this way, the Company maintains a good credit rating to facilitate fund raising. In its funding strategy, the Company&amp;#8217;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The table below summarises the maturity profile of the Company&amp;#8217;s financial liabilities at December 31, 2018 and 2017, assuming that the banks will not demand the repayment of the loans before their maturity, based on contractual undiscounted cash flows. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:434.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_0f3e1f02bcd74fa8a808a5a3d34403a6"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year ended December 31, 2018&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less than 3 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3 to 12 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1 to 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;More than 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;24,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;16,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;465&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;42,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued liabilities and other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,319&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Trade payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,433&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;6,433&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9,472&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;24,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;16,46&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,43&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; * This table includes both &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;the derivative component and the non-derivative host.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;of the hybrid agreement with Firment Shipping Credit Facility (see Note 12)&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:436pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less than 3 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3 to 12 months&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1 to 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;More than 5 years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,145&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12,989&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;30,285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;44,419&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:16.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accrued liabilities and other payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,455&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Trade payables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,258&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,258&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:17.85pt"&gt;&lt;td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,858&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;12,989&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;30,285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:30.25pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,132&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-68.05pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-68.05pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Capital management&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-60.4pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The primary objective of the Company&amp;#8217;s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares as well as managing the outstanding level of debt. Lenders may impose capital structure or solvency ratios (refer to note 12). No changes were made in the objectives, policies or processes during the years ended December 31, 2018 and 2017. The Company monitors capital using the ratio of net debt to book capitalisation adjusted for the market value of the Company&amp;#8217;s vessels plus net debt. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company includes within net debt, interest bearing loans gross of unamortized debt discount, less cash. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_0e922397d6e2400191d802aba0e97d3a"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Adjusted book capitalization refers to total equity adjusted for the market value of the Company&amp;#8217;s vessels. The Company&amp;#8217;s policy is to keep the ratio described above between a range of 60% - 80%.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:459.45pt; margin-left:7.1pt; border-collapse:collapse; text-align:left"&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:136.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160; December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Interest bearing loans&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,863&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash (including restricted cash)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,396)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(2,966)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;36,467&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;38,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,050&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;43,968&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Adjustment for the market value of vessels (charter-free)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(27,500)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(31,970)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Adjusted book capitalization&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,550&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;11,998&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Adjusted book capitalization plus net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;50,692&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Ratio&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;73%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;76%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated above is not consistent with the International Financial Reporting Standards (&amp;#8220;IFRS&amp;#8221;) definition of debt. The following reconciliation is provided:&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:439.45pt; margin-left:28.35pt; border-collapse:collapse; text-align:left"&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160; December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Debt in accordance with IFRS (long and short-term borrowings)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;36,868&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Add: Unamortized debt discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;295&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Less: Cash and bank balances and bank deposits (including restricted cash)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,396&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,966&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Net debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;35,767&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;38,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
  <ifrs-full:DisclosureOfFairValueMeasurementExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;22&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Fair values&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; line-height:13pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;Carrying amounts and fair values&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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 2.28). 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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_5e5ab03a8ee44085a350ddb8fe280ac0"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:482.95pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:160.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:27.7pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;(in thousands of USD)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Other financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities not measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;7&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;7&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:475.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:27.7pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;(in thousands of USD)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Other financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities not measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,219&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,219&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;Measurement of fair values&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:13pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;Valuation techniques and significant unobservable inputs&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;a name="FIS_UNIDENTIFIED_TABLE_33"&gt;&lt;/a&gt;&lt;a name="FIS_UNIDENTIFIED_TABLE_34"&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:463.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline"&gt;Financial instruments measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:22.65pt"&gt;&lt;td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;a name="RANGE_B372"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Type&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Valuation Techniques&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Significant unobservable inputs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:55pt"&gt;&lt;td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Black-Scholes model&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Refer to &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Not&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;e 2.30&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:11.65pt"&gt;&lt;td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:11.65pt"&gt;&lt;td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline"&gt;Financial instruments not measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:22.65pt"&gt;&lt;td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;a name="RANGE_B379"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Type&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Valuation Techniques&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Significant unobservable inputs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:11.65pt"&gt;&lt;td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.35pt"&gt;&lt;td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Discounted cash flow&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Discount rate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Transfers between Level 1, 2 and 3&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;There were no transfers between these levels in 2017 and 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfFairValueMeasurementExplanatory>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;23&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Events after the reporting date&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Book Antiqua'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued,&amp;#160; for gross proceeds of $5 million, a senior convertible note (the &amp;#8220;Convertible Note&amp;#8221;) that is convertible into shares of the Company&amp;#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under the Securities Act of 1933, as amended (the &amp;#8220;Securities Act&amp;#8221;). As of the date hereof, no conversion of the Convertible Note has occurred.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Convertible Note provides for interest to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&amp;#8217;s issuance unless the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares of the Company, if certain conditions described within the Convertible Note are met. With respect to the Convertible Note, the Company also signed a registration rights agreement with the private investor pursuant to which it agreed to register for resale the shares that could be issued pursuant to the Convertible Note.&amp;#160; The registration rights agreement contains liquidated damages if the Company is unable to register for resale the shares into which the Convertible Note may be converted, and maintain such registration.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Basis of presentation and general information&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="_DV_M2"&gt;&lt;/a&gt;&lt;a name="_DV_M5"&gt;&lt;/a&gt;&lt;a name="_DV_M6"&gt;&lt;/a&gt;&lt;a name="_DV_M14"&gt;&lt;/a&gt;&lt;a name="_DV_M16"&gt;&lt;/a&gt;&lt;a name="_DV_M30"&gt;&lt;/a&gt;&lt;a name="_DV_M31"&gt;&lt;/a&gt;&lt;a name="_DV_M32"&gt;&lt;/a&gt;&lt;a name="_DV_M33"&gt;&lt;/a&gt;&lt;a name="_DV_M34"&gt;&lt;/a&gt;&lt;a name="_DV_M35"&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The accompanying consolidated financial statements include the financial statements of &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Globus Maritime Limited&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; (&amp;#8220;Globus&amp;#8221;) and its wholly owned subsidiaries (collectively the &amp;#8220;Company&amp;#8221;). 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 (&amp;#8220;AIM&amp;#8221;). On November 24, 2010, Globus was redomiciled to the Marshall Islands and its shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933, as amended. On November 26, 2010, Globus shares were effectively delisted from AIM. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The address of the registered office of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (&amp;#8220;m/v&amp;#8221;), providing maritime services for the transportation of dry cargo products on a worldwide basis. The Company conducts its operations through its vessel owning subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The operations of the vessels are managed by Globus Shipmanagement Corp. (the &amp;#8220;Manager&amp;#8221;), a wholly owned Marshall Islands corporation. The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical, cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:506.85pt; margin-left:35.45pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:154.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;a name="DM_MAP_66cff8e46bf1415ea3ee90216b38f4f7"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Company&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Country of Incorporation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessel Delivery&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Date&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessel Owned&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:10.5pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus Shipmanagement Corp.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Management Co&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.2pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Devocean Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;December 18, 2007&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v River Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:15pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Domina Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;May 19, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Sky Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.8pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Dulac Maritime S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;May 25, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Star Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Artful Shipholding S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Marshall Islands&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;June 22, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Moon Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Longevity Maritime Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Malta&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;September 15, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;m/v Sun Globe&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="_DV_M40"&gt;&lt;/a&gt;&lt;a name="_DV_M42"&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On October 20, 2016, the Company effected a four-for-one reverse stock split which reduced number of outstanding common shares from 10,510,741 to 2,627,674 shares (adjustments were made based on fractional shares). On October 15, 2018, the Company effected a ten-for-one reverse stock split which reduced number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were made based on fractional shares). Unless otherwise noted, all historical share numbers and per share amounts have been adjusted to give effect to these two reverse stock splits.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The consolidated financial statements as of December 31, 2018 and 2017 and for the three years in the period ended December 31, 2018, were approved for issuance by the Board of Directors on March 26, 2019. &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
  <glbs:DisclosureOfFairValuesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:482.95pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:160.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:27.7pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;(in thousands of USD)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Other financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities not measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;7&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;7&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;,&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;030&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:34.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:475.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="4" style="width:153.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:27.7pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;(in thousands of USD)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Other financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.1pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financial liabilities not measured at fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Long&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;term borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;41,219&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,219&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.8pt"&gt;&lt;td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:27.75pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfFairValuesExplanatory>
  <ifrs-full:DisclosureOfGoingConcernExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.1&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Basis of Preparation: &lt;/font&gt;&lt;a name="_Hlk4596091"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Going concern basis of accounting: &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="_Hlk4596134"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company was not in compliance with the loan covenants of the agreement with Hamburg Commercial Bank AG (previously known as HSH Nordbank AG) which loan balance of $22.2 million matures through December 2019. The Company did not obtain waivers and the breached covenants contained in this loan agreement constitute an event of default. In the event of default under the Hamburg Commercial Bank AG loan agreement and, due to the cross-default provisions included in the agreement with Macquarie Bank International Limited, the Company&amp;#8217;s lenders, Hamburg Commercial Bank AG and Macquarie Bank International Limited, can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially all of the Company&amp;#8217;s assets. Until the date of issuance of these consolidated financial statements no such action has been taken by the lenders against the Company. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accordingly, as the Company did not have an unconditional right to defer settlement of the outstanding loan with Macquarie Bank International Limited&amp;#160; for at least twelve months after the date of these consolidated financial statements and, as it has not refinanced the outstanding loan with Hamburg Commercial Bank AG, the total balance of the loans outstanding to Macquarie Bank International Limited and to Hamburg Commercial Bank AG aggregating to $35,368 at December 31, 2018, have been classified as current. As a result, as of December 31, 2018, the Company reported a working capital deficit of $40,412.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The above conditions raise substantial doubt about the entity&amp;apos;s ability to continue as a going concern. The Company is exploring several alternatives aiming to manage its working capital requirements and other commitments, including drawdown of additional funds available of $12,800 under the facility with Firment Shipping Inc, if needed raising of additional debt and discussions with other financial institutions and private funds to provide the Company with refinancing of the existing loans. In this respect, on March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior convertible note (the &amp;#8220;Convertible Note&amp;#8221;) that is convertible into shares of the Company&amp;#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Company will use part of the proceeds from the Convertible Note for general corporate purposes and working capital including repayment of debt.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Management expects that the lenders will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan instalments and accumulated interest as they fall due under the existing loan agreements. Management plans to settle loan interest and scheduled loan repayments with cash at hand and cash expected to be generated from the operations and from financing activities.&amp;#160; If for any reason the Company is unable to continue as a going concern, this could have an impact on the Company&amp;#8217;s ability to realize assets at their recognized values and to extinguish liabilities in the normal course of business at the amounts stated in these consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Statement of Compliance: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (&amp;#8220;IFRS&amp;#8221;) as issued by the International Accounting Standards Board (&amp;#8220;IASB&amp;#8221;). &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Basis of Consolidation:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfGoingConcernExplanatory>
  <ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.2&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Standards amendments and interpretations:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 9 Financial Instruments: Classification and Measurement&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In July 2014, the IASB issued the complete version of IFRS&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;9 Financial Instruments. IFRS&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;9 Financial Instruments specifies how an entity should classify and measure financial assets and financial liabilities. The new standard requires all financial assets to be subsequently measured at amortized cost or fair value depending on the business model of the legal entity in relation to the management of the financial assets and the contractual cash flows of the financial assets. The standard also requires a financial liability to be classified as either at fair value through profit or loss or at amortized cost. In addition, a new hedge accounting model was introduced, that is designed to be more closely aligned with how entities undertake risk management activities when hedging financial and non-financial risk exposures. The Company has elected to take the transition relief and not to restate prior periods with respect to classification and measurement (including impairment). Accordingly, the information presented for 2017 has not been restated.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company had no impact of transition to IFRS 9 on the opening balance of accumulated deficit.&lt;/font&gt;&lt;a name="FIS_UNIDENTIFIED_TABLE_9"&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 15 Revenue from Contracts with Customers &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 15 establishes a five-step model that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue transaction or the industry. The standard&amp;#8217;s requirements will also apply to the recognition and measurement of gains and losses on the sale of some non-financial assets that are not an output of the entity&amp;#8217;s ordinary activities (e.g., sales of property, plant and equipment or intangibles). Extensive disclosures will be required, including disaggregation of total revenue; information about performance obligations; changes in contract asset and liability account balances between periods and key judgments and estimates. The Company elected to apply IFRS 15 fully retrospectively. The Company has assessed that this standard does not have a material effect on its consolidated financial statements. In addition, pursuant to this standard, as of January 1, 2018, the Company elected to present Voyage revenues net of address commissions. Address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for this consideration provided to the charterer. These commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2018, 2017 and 2016, Voyage revenues and Voyage expenses each decreased by $668, $540 and $317, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 15: Revenue from Contracts with Customers (Clarifications)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The objective of the Clarifications is to clarify the IASB&amp;#8217;s intentions when developing the requirements in IFRS 15 Revenue from Contracts with Customers, particularly the accounting of identifying performance obligations amending the wording of the &amp;#8220;separately identifiable&amp;#8221; principle, of principal versus agent considerations including the assessment of whether an entity is a principal or an agent as well as applications of control principle and of licensing providing additional guidance for accounting of intellectual property and royalties. The Clarifications also provide additional practical expedients for entities that either apply IFRS 15 fully retrospectively or that elect to apply the modified retrospective approach. The Company has assessed that the adoption did not have a material effect on its consolidated financial statements, other than additional disclosure requirements in the notes to the consolidated financial statements, since the Company has chartered its vessels under time charter agreements, and in this respect revenue is accounted under the leases standard.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 2: Classification and Measurement of Share based Payment Transactions (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments provide requirements on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, for share-based payment transactions with a net settlement feature for withholding tax obligations and for modifications to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled. The Company has assessed that these amendments have no impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRIC INTERPETATION 22: Foreign Currency Transactions and Advance Consideration&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Interpretation clarifies the accounting for transactions that include the receipt or payment of advance consideration in a foreign currency. The Interpretation covers foreign currency transactions when an entity recognizes a non-monetary asset or a non-monetary liability arising from the payment or receipt of advance consideration before the entity recognizes the related asset, expense or income. The Interpretation states that the date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, then the entity must determine a date of the transactions for each payment or receipt of advance consideration. The Company has assessed that this interpretation has no impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Standards issued but not yet effective and not early adopted:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The standards and interpretations issued, but not yet effective, up to the date of issuance of the Company&amp;#8217;s consolidated financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 16: Leases&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (&amp;#8216;lessee&amp;#8217;) and the supplier (&amp;#8216;lessor&amp;#8217;). The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The standard is effective for annual periods beginning on or after January 1, 2019. Early adoption is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16. The Company will adopt IFRS 16 as of January 1, 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company expects that the most significant impact will be that the Company will recognize new assets and liabilities for its operating leases as lessee (for office rental).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company identified the rental agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674 as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental cost of borrowing In addition, the nature and recognition of expenses related to those leases will change as IFRS 16 replaces the straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For time charters that qualify as leases, the Company will be 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. In order to prepare the future required disclosure, the residual allocation method will be used. The Company will estimate the non-lease component as the cost of operating the vessels by its technical department. The lease component to be disclosed then will be calculated as the difference between total revenue and the non-lease component revenue. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company does not expect the adoption of IFRS 16 to impact its ability to comply with the loan covenants described in Note 12&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;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&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture.&amp;#160; The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 9 Amendment: Prepayment features with negative compensation&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendment is effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendment allows financial assets with prepayment features that permit or require a party to a contract either to pay or receive reasonable compensation for the early termination of the contract (so that, from the perspective of the holder of the asset there may be &amp;#8216;negative compensation&amp;#8217;), to be measured at amortized cost or at fair value through other comprehensive income. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 28 Amendments: Long-term Interests in Associates and Joint Ventures&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendments relate to whether the measurement, in particular impairment requirements, of long term interests in associates and joint ventures that, in substance, form part of the &amp;#8216;net investment&amp;#8217; in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination of both. The Amendments clarify that an entity applies IFRS 9 Financial Instruments, before it applies IAS 28, to such long-term interests for which the equity method is not applied. In applying IFRS 9, the entity does not take account of any adjustments to the carrying amount of long- term interests that arise from applying IAS 28. Management does not expect that these amendments will have an impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRIC INTERPETATION 23: Uncertainty over Income Tax Treatments &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Interpretation is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation provides guidance on considering uncertain tax treatments separately or together, examination by tax authorities, the appropriate method to reflect uncertainty and accounting for changes in facts and circumstances. The Company does not expect that this interpretation will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 19: Plan Amendment, Curtailment or Settlement (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The amendments require entities to use updated actuarial assumptions to determine current service cost and net interest for the remainder of the annual reporting period after a plan amendment, curtailment or settlement has occurred. The amendments also clarify how the accounting for a plan amendment, curtailment or settlement affects applying the asset ceiling requirements. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 3: Business Combinations (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after 1 January 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of &amp;#8216;material&amp;#8217; (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual periods beginning on or after January 1, 2020, with earlier application permitted. The Amendments clarify the definition of material and how it should be applied. The new definition states that, &amp;#8217;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&amp;#8217;. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;The IASB has issued the Annual Improvements to IFRSs 2015 &amp;#8211; 2017 Cycle&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;, which is a collection of amendments to IFRSs. The amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. Management is in the process of assessing the impact of these Amendments on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 3 Business Combinations and IFRS 11 Joint Arrangements&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 12 Income Taxes&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments clarify that the income tax consequences of payments on financial instruments classified as equity should be recognized according to where the past transactions or events that generated distributable profits has been recognized.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 23 Borrowing Costs&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments clarify paragraph 14 of the standard that, when a qualifying asset is ready for its intended use or sale, and some of the specific borrowing related to that qualifying asset remains outstanding at that point, that borrowing is to be included in the funds that an entity borrows generally.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations>
  <ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.3&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Significant accounting policies, judgments, estimates and assumptions:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period.&amp;#160; 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. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Judgments: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In the process of applying the Company&amp;#8217;s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:22.5pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Allowance for doubtful trade accounts receivable:&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Following adoption of IFRS 9 as of January 1, 2018, the Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (&amp;#8220;ECL&amp;#8221;) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.&lt;/font&gt;&lt;font style="font-size:10pt"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The application of the ECL requirements under IFRS 9 did not result in the recognition of an impairment charge under the new impairment model.&lt;/font&gt;&lt;font style="font-size:10pt"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Provisions for doubtful trade accounts receivable as of December 31, 2018 and 2017 were $68 and $138, respectively. No extra allowance for impairment over these receivables was recognized in opening accumulated deficit at January 1, 2018, on transition to IFRS 9.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Estimates and assumptions: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Carrying amount of vessels, net&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: Vessels are stated at cost, less accumulated depreciation &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;(including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Impairment of Non-Financial Assets&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The Company&amp;#8217;s impairment test for non-financial assets is based on the assets&amp;#8217; recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2018. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows and the growth rate used for extrapolation. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;See notes 2.13 and 5&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Share based payments&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 13.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.4&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Accounting for revenue and related expenses:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IAS 17 as lease income as explained in note 2.23 below. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Interest income&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: interest income is recognised as interest on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Voyage expenses&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessel operating expenses&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;:&amp;#160; Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under time charter arrangements, these expenses are paid by the charterer and by the Company under voyage charter arrangements. Vessel operating expenses are accounted for on an accruals basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
  <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.5&amp;#160;&amp;#160;&amp;#160;&amp;#160; Foreign currency translation:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;#8217;s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.6&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Cash and cash equivalents:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:10pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;2.7&amp;#160;&amp;#160;&amp;#160;&amp;#160; Trade accounts receivable, net&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold; font-style:italic"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, freight and demurrage billings, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently&lt;/font&gt;&lt;font&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2018 was $68 (2017: $138).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.8&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Inventories:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.9&amp;#160;&amp;#160;&amp;#160; Vessels, net:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses.&amp;#160; 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). Any seller&amp;#8217;s credit, i.e., amounts received from the seller of the vessels until date of delivery is deducted from the cost of the vessel. Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2.10&amp;#160;&amp;#160;&amp;#160; Deferred dry-docking costs: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;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.&lt;/font&gt;&lt;/h1&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.11&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Depreciation&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The cost of each of the Company&amp;#8217;s vessels is depreciated on a straight-line basis over each vessel&amp;#8217;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 second quarter of 2016, the Company reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide. This resulted to an additional depreciation expense of $96 included in the consolidated statement of comprehensive loss for 2016. During the third quarter of 2017, the Company adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates worldwide. This resulted to a decrease of $86 to the depreciation charge included in the consolidated statement of comprehensive loss for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.12&amp;#160;&amp;#160;&amp;#160;&amp;#160; Amortization of lease component:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; When the Company acquires a vessel subject to an operating lease, it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; background-color:#ffffff"&gt;. The amortization is included in the line &amp;#8220;amortization&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; of fair value of time charter attached to vessels&amp;#8221; in the income statement component of the consolidated statement of comprehensive loss.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.13&amp;#160;&amp;#160;&amp;#160;&amp;#160; Impairment of non-financial assets:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel&amp;#8217;s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset&amp;#8217;s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&amp;#8217;s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.14&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-term debt&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing.&amp;#160; After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method.&amp;#160; Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.15&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financing costs:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; 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. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the year ended December 31, 2018, the Company deferred financing costs of $253, which relate to the costs incurred for the new loan agreement with Macquarie Bank International Limited (see Note 12 for more details). For the years ended December 31, 2017 and 2016, the Company did not incur any financing costs.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.16&amp;#160;&amp;#160;&amp;#160; Borrowing costs:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under &amp;#8220;interest expense and finance costs&amp;#8221; except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.17&amp;#160;&amp;#160;&amp;#160; Operating segment:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.18&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Provisions and contingencies: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.19&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Pension and retirement benefit obligations: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The crew on board the vessels owned by the ship-owning companies owned by Globus is under short-term contracts (usually up to nine months) and, accordingly, no one is liable for any pension or post-retirement benefits payable to the crew. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-1.65pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Provision for employees&amp;#8217; severance compensation: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Greek employees, of the Company are bound by the Greek Labour law. Accordingly, compensation is payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age is not known. The Company has provided for the employees&amp;#8217; retirement compensation liability which amounted to $87 as at December 31, 2018 (2017: $82), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated statement of financial position.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits>
  <ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.20&amp;#160;&amp;#160;&amp;#160;&amp;#160; Offsetting of financial assets and liabilities: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory>
  <glbs:DescriptionOfAccountingPolicyForLesseeExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.22&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Leases &amp;#8211; where the Company is the lessee: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; letter-spacing:-0.1pt"&gt;Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;income statement component of the &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; letter-spacing:-0.1pt"&gt;consolidated statement of comprehensive loss on a straight-line basis over the period of the lease.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DescriptionOfAccountingPolicyForLesseeExplanatory>
  <glbs:DescriptionOfAccountingPolicyForLessorExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.23&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Leases &amp;#8211; where an entity is the lessor: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Leases of vessels where the entity does not transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the period in which they are earned.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DescriptionOfAccountingPolicyForLessorExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.24&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Insurance: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company recognizes insurance claim recoveries for insured losses incurred on damage to vessels.&amp;#160; Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company&amp;#8217;s vessels suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the amounts are virtually certain to be received.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.25&amp;#160;&amp;#160;&amp;#160;&amp;#160; Share based compensation: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus operates equity-settled, share-based compensation plans. The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact in equity.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;2.26&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share capital&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.27&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Dividends&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Dividends to shareholders are recognised in the period in which the dividends are declared and appropriately authorised and are accounted for as dividends payable until paid.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.28&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Fair value measurement:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company measures financial instruments, such as, derivatives and non-financial assets&amp;#160; at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised cost are disclosed in note 22. 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&amp;#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company uses the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each reporting period. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company engaged independent valuation specialists to determine the fair value of non-financial assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.30&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Embedded Derivatives:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3):&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(a) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(c) the hybrid contract is not measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial liability at fair value through profit or loss is not separated).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s embedded derivativesare separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative financial liabilities as of December 31, 2018 (see Note 12). The fair value of the embedded derivative instrument at December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;31, 2018, is estimated using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield as the Company does not expect to pay a dividend on the foreseeable future, (b) weighted average expected volatility of 80%, (c) risk free rate of 2.48% determined by management using the applicable Treasury Bill as of the measurement date, (d) market value of common stock $2.88 and (e) expected life of 1.89 years as at December 31, 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory>
  <glbs:DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.29&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Current versus non-current classification:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-7.1pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;An asset as current when it is:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Expected to be realised or intended to be sold or consumed in a normal operating cycle &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Held primarily for the purpose of trading &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Expected to be realised within twelve months after the reporting period&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash or cash equivalent&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; All other assets are classified as non-current. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;A liability is current:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is expected to be settled in a normal operating cycle&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is held primarily for the purpose of trading &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is due to be settled within twelve months after the reporting period&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; All other liabilities are classified as non-current&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.21&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial assets and liabilities:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;i.&amp;#160;&amp;#160;&amp;#160; Classification and measurement of financial assets and financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;it is held within a business model whose objective is to hold assets to collect contractual cash flows; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;ii.&amp;#160;&amp;#160;&amp;#160; Impairment of financial assets&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 9 replaces the &amp;apos;incurred loss&amp;apos; model in IAS 39 with an &amp;apos;expected credit loss&amp;apos; (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The financial assets at amortized cost consist of trade receivables and cash and cash equivalents.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Under IFRS 9, loss allowances are measured on either of the following bases:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;apos;s historical experience and informed credit assessment and including forward-looking information.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company considers a financial asset to be in default when:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the counterparty is unlikely to pay its contractual obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the financial asset is more than 1 year past due.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application of IFRS 9&amp;apos;s impairment requirements at January 1, 2018, has not resulted to any additional impairment allowance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;iii. Derecognition of financial assets &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the rights to receive cash flows from the asset have expired;&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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 &amp;#8220;pass-through&amp;#8221; arrangement; or &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Where the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company&amp;#8217;s continuing involvement in the asset. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:42.55pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;iv. Derecognition of Financial liabilities: &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and, the difference in the respective carrying amounts is recognised in profit or loss.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;a name="_Hlk4596062"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2.&amp;#160; Basis of Preparation and Significant Accounting Policies&lt;/font&gt;&lt;/a&gt;&lt;/h1&gt;&lt;h1 style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-18pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;a name="_Hlk4596079"&gt;&lt;/a&gt;&lt;a name="DM_MAP_134987cb5ea04a3dbed7e1aff4f701b2"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.1&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Basis of Preparation: &lt;/font&gt;&lt;/a&gt;&lt;a name="_Hlk4596091"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Going concern basis of accounting: &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="_Hlk4596134"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company was not in compliance with the loan covenants of the agreement with Hamburg Commercial Bank AG (previously known as HSH Nordbank AG) which loan balance of $22.2 million matures through December 2019. The Company did not obtain waivers and the breached covenants contained in this loan agreement constitute an event of default. In the event of default under the Hamburg Commercial Bank AG loan agreement and, due to the cross-default provisions included in the agreement with Macquarie Bank International Limited, the Company&amp;#8217;s lenders, Hamburg Commercial Bank AG and Macquarie Bank International Limited, can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially all of the Company&amp;#8217;s assets. Until the date of issuance of these consolidated financial statements no such action has been taken by the lenders against the Company. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Accordingly, as the Company did not have an unconditional right to defer settlement of the outstanding loan with Macquarie Bank International Limited&amp;#160; for at least twelve months after the date of these consolidated financial statements and, as it has not refinanced the outstanding loan with Hamburg Commercial Bank AG, the total balance of the loans outstanding to Macquarie Bank International Limited and to Hamburg Commercial Bank AG aggregating to $35,368 at December 31, 2018, have been classified as current. As a result, as of December 31, 2018, the Company reported a working capital deficit of $40,412.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The above conditions raise substantial doubt about the entity&amp;apos;s ability to continue as a going concern. The Company is exploring several alternatives aiming to manage its working capital requirements and other commitments, including drawdown of additional funds available of $12,800 under the facility with Firment Shipping Inc, if needed raising of additional debt and discussions with other financial institutions and private funds to provide the Company with refinancing of the existing loans. In this respect, on March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior convertible note (the &amp;#8220;Convertible Note&amp;#8221;) that is convertible into shares of the Company&amp;#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Company will use part of the proceeds from the Convertible Note for general corporate purposes and working capital including repayment of debt.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Management expects that the lenders will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan instalments and accumulated interest as they fall due under the existing loan agreements. Management plans to settle loan interest and scheduled loan repayments with cash at hand and cash expected to be generated from the operations and from financing activities.&amp;#160; If for any reason the Company is unable to continue as a going concern, this could have an impact on the Company&amp;#8217;s ability to realize assets at their recognized values and to extinguish liabilities in the normal course of business at the amounts stated in these consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Statement of Compliance: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (&amp;#8220;IFRS&amp;#8221;) as issued by the International Accounting Standards Board (&amp;#8220;IASB&amp;#8221;). &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Basis of Consolidation:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_b48f627b3cf548a6866f01bd6107e15e"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.2&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Standards amendments and interpretations:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160; &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 9 Financial Instruments: Classification and Measurement&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In July 2014, the IASB issued the complete version of IFRS&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;9 Financial Instruments. IFRS&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;9 Financial Instruments specifies how an entity should classify and measure financial assets and financial liabilities. The new standard requires all financial assets to be subsequently measured at amortized cost or fair value depending on the business model of the legal entity in relation to the management of the financial assets and the contractual cash flows of the financial assets. The standard also requires a financial liability to be classified as either at fair value through profit or loss or at amortized cost. In addition, a new hedge accounting model was introduced, that is designed to be more closely aligned with how entities undertake risk management activities when hedging financial and non-financial risk exposures. The Company has elected to take the transition relief and not to restate prior periods with respect to classification and measurement (including impairment). Accordingly, the information presented for 2017 has not been restated.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company had no impact of transition to IFRS 9 on the opening balance of accumulated deficit.&lt;/font&gt;&lt;a name="FIS_UNIDENTIFIED_TABLE_9"&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 15 Revenue from Contracts with Customers &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 15 establishes a five-step model that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue transaction or the industry. The standard&amp;#8217;s requirements will also apply to the recognition and measurement of gains and losses on the sale of some non-financial assets that are not an output of the entity&amp;#8217;s ordinary activities (e.g., sales of property, plant and equipment or intangibles). Extensive disclosures will be required, including disaggregation of total revenue; information about performance obligations; changes in contract asset and liability account balances between periods and key judgments and estimates. The Company elected to apply IFRS 15 fully retrospectively. The Company has assessed that this standard does not have a material effect on its consolidated financial statements. In addition, pursuant to this standard, as of January 1, 2018, the Company elected to present Voyage revenues net of address commissions. Address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for this consideration provided to the charterer. These commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2018, 2017 and 2016, Voyage revenues and Voyage expenses each decreased by $668, $540 and $317, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 15: Revenue from Contracts with Customers (Clarifications)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The objective of the Clarifications is to clarify the IASB&amp;#8217;s intentions when developing the requirements in IFRS 15 Revenue from Contracts with Customers, particularly the accounting of identifying performance obligations amending the wording of the &amp;#8220;separately identifiable&amp;#8221; principle, of principal versus agent considerations including the assessment of whether an entity is a principal or an agent as well as applications of control principle and of licensing providing additional guidance for accounting of intellectual property and royalties. The Clarifications also provide additional practical expedients for entities that either apply IFRS 15 fully retrospectively or that elect to apply the modified retrospective approach. The Company has assessed that the adoption did not have a material effect on its consolidated financial statements, other than additional disclosure requirements in the notes to the consolidated financial statements, since the Company has chartered its vessels under time charter agreements, and in this respect revenue is accounted under the leases standard.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 2: Classification and Measurement of Share based Payment Transactions (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments provide requirements on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, for share-based payment transactions with a net settlement feature for withholding tax obligations and for modifications to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled. The Company has assessed that these amendments have no impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRIC INTERPETATION 22: Foreign Currency Transactions and Advance Consideration&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Interpretation clarifies the accounting for transactions that include the receipt or payment of advance consideration in a foreign currency. The Interpretation covers foreign currency transactions when an entity recognizes a non-monetary asset or a non-monetary liability arising from the payment or receipt of advance consideration before the entity recognizes the related asset, expense or income. The Interpretation states that the date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, then the entity must determine a date of the transactions for each payment or receipt of advance consideration. The Company has assessed that this interpretation has no impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Standards issued but not yet effective and not early adopted:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The standards and interpretations issued, but not yet effective, up to the date of issuance of the Company&amp;#8217;s consolidated financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 16: Leases&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (&amp;#8216;lessee&amp;#8217;) and the supplier (&amp;#8216;lessor&amp;#8217;). The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The standard is effective for annual periods beginning on or after January 1, 2019. Early adoption is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16. The Company will adopt IFRS 16 as of January 1, 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company expects that the most significant impact will be that the Company will recognize new assets and liabilities for its operating leases as lessee (for office rental).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company identified the rental agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674 as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental cost of borrowing In addition, the nature and recognition of expenses related to those leases will change as IFRS 16 replaces the straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For time charters that qualify as leases, the Company will be 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. In order to prepare the future required disclosure, the residual allocation method will be used. The Company will estimate the non-lease component as the cost of operating the vessels by its technical department. The lease component to be disclosed then will be calculated as the difference between total revenue and the non-lease component revenue. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company does not expect the adoption of IFRS 16 to impact its ability to comply with the loan covenants described in Note 12&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;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&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture.&amp;#160; The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 9 Amendment: Prepayment features with negative compensation&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendment is effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendment allows financial assets with prepayment features that permit or require a party to a contract either to pay or receive reasonable compensation for the early termination of the contract (so that, from the perspective of the holder of the asset there may be &amp;#8216;negative compensation&amp;#8217;), to be measured at amortized cost or at fair value through other comprehensive income. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 28 Amendments: Long-term Interests in Associates and Joint Ventures&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendments relate to whether the measurement, in particular impairment requirements, of long term interests in associates and joint ventures that, in substance, form part of the &amp;#8216;net investment&amp;#8217; in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination of both. The Amendments clarify that an entity applies IFRS 9 Financial Instruments, before it applies IAS 28, to such long-term interests for which the equity method is not applied. In applying IFRS 9, the entity does not take account of any adjustments to the carrying amount of long- term interests that arise from applying IAS 28. Management does not expect that these amendments will have an impact on its financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRIC INTERPETATION 23: Uncertainty over Income Tax Treatments &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Interpretation is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation provides guidance on considering uncertain tax treatments separately or together, examination by tax authorities, the appropriate method to reflect uncertainty and accounting for changes in facts and circumstances. The Company does not expect that this interpretation will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 19: Plan Amendment, Curtailment or Settlement (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The amendments require entities to use updated actuarial assumptions to determine current service cost and net interest for the remainder of the annual reporting period after a plan amendment, curtailment or settlement has occurred. The amendments also clarify how the accounting for a plan amendment, curtailment or settlement affects applying the asset ceiling requirements. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 3: Business Combinations (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after 1 January 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of &amp;#8216;material&amp;#8217; (Amendments)&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Amendments are effective for annual periods beginning on or after January 1, 2020, with earlier application permitted. The Amendments clarify the definition of material and how it should be applied. The new definition states that, &amp;#8217;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&amp;#8217;. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management does not expect that these amendments will have an impact on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;The IASB has issued the Annual Improvements to IFRSs 2015 &amp;#8211; 2017 Cycle&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;, which is a collection of amendments to IFRSs. The amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. Management is in the process of assessing the impact of these Amendments on the Company&amp;#8217;s financial position or performance.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IFRS 3 Business Combinations and IFRS 11 Joint Arrangements&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 12 Income Taxes&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments clarify that the income tax consequences of payments on financial instruments classified as equity should be recognized according to where the past transactions or events that generated distributable profits has been recognized.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;IAS 23 Borrowing Costs&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The amendments clarify paragraph 14 of the standard that, when a qualifying asset is ready for its intended use or sale, and some of the specific borrowing related to that qualifying asset remains outstanding at that point, that borrowing is to be included in the funds that an entity borrows generally.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_764856df168c4d29a64a07f830c18f1a"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.3&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Significant accounting policies, judgments, estimates and assumptions:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period.&amp;#160; 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. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Judgments: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In the process of applying the Company&amp;#8217;s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:22.5pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Allowance for doubtful trade accounts receivable:&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Following adoption of IFRS 9 as of January 1, 2018, the Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (&amp;#8220;ECL&amp;#8221;) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.&lt;/font&gt;&lt;font style="font-size:10pt"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The application of the ECL requirements under IFRS 9 did not result in the recognition of an impairment charge under the new impairment model.&lt;/font&gt;&lt;font style="font-size:10pt"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Provisions for doubtful trade accounts receivable as of December 31, 2018 and 2017 were $68 and $138, respectively. No extra allowance for impairment over these receivables was recognized in opening accumulated deficit at January 1, 2018, on transition to IFRS 9.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Estimates and assumptions: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Carrying amount of vessels, net&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: Vessels are stated at cost, less accumulated depreciation &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;(including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Impairment of Non-Financial Assets&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: The Company&amp;#8217;s impairment test for non-financial assets is based on the assets&amp;#8217; recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2018. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows and the growth rate used for extrapolation. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;See notes 2.13 and 5&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Share based payments&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 13.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_d742ddd86a424643b893adfe80915c58"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.4&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Accounting for revenue and related expenses:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IAS 17 as lease income as explained in note 2.23 below. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Interest income&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: interest income is recognised as interest on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Voyage expenses&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;: Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessel operating expenses&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;:&amp;#160; Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under time charter arrangements, these expenses are paid by the charterer and by the Company under voyage charter arrangements. Vessel operating expenses are accounted for on an accruals basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_2cfc92daf29f47b6917a39767dcef4df"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.5&amp;#160;&amp;#160;&amp;#160;&amp;#160; Foreign currency translation:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;#8217;s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_6f8b11eeb2934f61afdff7a5c104cc46"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.6&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Cash and cash equivalents:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:10pt"&gt;&lt;a name="DM_MAP_9523cb0edf4442c38b6bee00ee6ba226"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;2.7&amp;#160;&amp;#160;&amp;#160;&amp;#160; Trade accounts receivable, net&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold; font-style:italic"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, freight and demurrage billings, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently&lt;/font&gt;&lt;font&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2018 was $68 (2017: $138).&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_123bc38f1c0e416e9c7b30606997e557"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.8&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Inventories:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_2b1dd51f8259424881f9d7a8f1573ed5"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.9&amp;#160;&amp;#160;&amp;#160; Vessels, net:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses.&amp;#160; 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). Any seller&amp;#8217;s credit, i.e., amounts received from the seller of the vessels until date of delivery is deducted from the cost of the vessel. Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;h1 style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;a name="DM_MAP_63a47f75ba4d4c89902a31fa7abe0a78"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2.10&amp;#160;&amp;#160;&amp;#160; Deferred dry-docking costs: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:normal"&gt;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.&lt;/font&gt;&lt;/a&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_c0dba1d3eebc49caaca9cc3b32a40230"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.11&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Depreciation&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The cost of each of the Company&amp;#8217;s vessels is depreciated on a straight-line basis over each vessel&amp;#8217;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 second quarter of 2016, the Company reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide. This resulted to an additional depreciation expense of $96 included in the consolidated statement of comprehensive loss for 2016. During the third quarter of 2017, the Company adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates worldwide. This resulted to a decrease of $86 to the depreciation charge included in the consolidated statement of comprehensive loss for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_c3eed790c6254ce7902c7e6a972fbaba"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.12&amp;#160;&amp;#160;&amp;#160;&amp;#160; Amortization of lease component:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; When the Company acquires a vessel subject to an operating lease, it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; background-color:#ffffff"&gt;. The amortization is included in the line &amp;#8220;amortization&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; of fair value of time charter attached to vessels&amp;#8221; in the income statement component of the consolidated statement of comprehensive loss.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_e972df5ccd814105bd27d6925826ef72"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.13&amp;#160;&amp;#160;&amp;#160;&amp;#160; Impairment of non-financial assets:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel&amp;#8217;s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset&amp;#8217;s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&amp;#8217;s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_393590f3fc0840dc92db297d73248d01"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.14&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-term debt&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing.&amp;#160; After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method.&amp;#160; Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_59d8d57107cc46bab9f74ee6557eac0b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.15&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Financing costs:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; 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. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the year ended December 31, 2018, the Company deferred financing costs of $253, which relate to the costs incurred for the new loan agreement with Macquarie Bank International Limited (see Note 12 for more details). For the years ended December 31, 2017 and 2016, the Company did not incur any financing costs.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_2ae4ed47124a4170bcfc4598ac0e1fb5"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.16&amp;#160;&amp;#160;&amp;#160; Borrowing costs:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under &amp;#8220;interest expense and finance costs&amp;#8221; except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_feac268b23cc4ed389d9cee4c511d37d"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.17&amp;#160;&amp;#160;&amp;#160; Operating segment:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; 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.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_e2b355aad5f94804bfea49cf0138d534"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.18&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Provisions and contingencies: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_b681114fb22345b7bbc50f581297dd9c"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.19&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Pension and retirement benefit obligations: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The crew on board the vessels owned by the ship-owning companies owned by Globus is under short-term contracts (usually up to nine months) and, accordingly, no one is liable for any pension or post-retirement benefits payable to the crew. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-1.65pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Provision for employees&amp;#8217; severance compensation: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Greek employees, of the Company are bound by the Greek Labour law. Accordingly, compensation is payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age is not known. The Company has provided for the employees&amp;#8217; retirement compensation liability which amounted to $87 as at December 31, 2018 (2017: $82), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated statement of financial position.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_4d1b4d4253fc4fb08d64d50cab9104e9"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.20&amp;#160;&amp;#160;&amp;#160;&amp;#160; Offsetting of financial assets and liabilities: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; font-size:9pt"&gt;&lt;a name="DM_MAP_95e284c0345546c5bf6af5c0d9190cfa"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.21&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial assets and liabilities:&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;i.&amp;#160;&amp;#160;&amp;#160; Classification and measurement of financial assets and financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;it is held within a business model whose objective is to hold assets to collect contractual cash flows; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;ii.&amp;#160;&amp;#160;&amp;#160; Impairment of financial assets&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;IFRS 9 replaces the &amp;apos;incurred loss&amp;apos; model in IAS 39 with an &amp;apos;expected credit loss&amp;apos; (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The financial assets at amortized cost consist of trade receivables and cash and cash equivalents.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Under IFRS 9, loss allowances are measured on either of the following bases:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;apos;s historical experience and informed credit assessment and including forward-looking information.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company considers a financial asset to be in default when:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the counterparty is unlikely to pay its contractual obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the financial asset is more than 1 year past due.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application of IFRS 9&amp;apos;s impairment requirements at January 1, 2018, has not resulted to any additional impairment allowance.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;iii. Derecognition of financial assets &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the rights to receive cash flows from the asset have expired;&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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 &amp;#8220;pass-through&amp;#8221; arrangement; or &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Where the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company&amp;#8217;s continuing involvement in the asset. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:42.55pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;iv. Derecognition of Financial liabilities: &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and, the difference in the respective carrying amounts is recognised in profit or loss.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_e6f17eb0103243ab9c964fd51ebfbfd3"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.22&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Leases &amp;#8211; where the Company is the lessee: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; letter-spacing:-0.1pt"&gt;Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;income statement component of the &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; letter-spacing:-0.1pt"&gt;consolidated statement of comprehensive loss on a straight-line basis over the period of the lease.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_742bc7c4e7844a0abfb61cc4c5555886"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.23&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Leases &amp;#8211; where an entity is the lessor: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Leases of vessels where the entity does not transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the period in which they are earned.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_5e9c458bc71245d0acff04f027c8850b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.24&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Insurance: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company recognizes insurance claim recoveries for insured losses incurred on damage to vessels.&amp;#160; Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company&amp;#8217;s vessels suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the amounts are virtually certain to be received.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#160;&lt;/font&gt;&lt;a name="DM_MAP_3b26d69743c9473bb70ad5de782309ce"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.25&amp;#160;&amp;#160;&amp;#160;&amp;#160; Share based compensation: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus operates equity-settled, share-based compensation plans. The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact in equity.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;&amp;#160;&lt;/font&gt;&lt;a name="DM_MAP_62cacb314c15401bba2a964b36528035"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;2.26&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Share capital&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; letter-spacing:-0.1pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_98484283ae9e4c19a3c8fb238d7596b0"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.27&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Dividends&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt"&gt;: &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Dividends to shareholders are recognised in the period in which the dividends are declared and appropriately authorised and are accounted for as dividends payable until paid.&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_9b6e2066ca79418489113b31cc1d853e"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.28&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Fair value measurement:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company measures financial instruments, such as, derivatives and non-financial assets&amp;#160; at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised cost are disclosed in note 22. 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&amp;#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company uses the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each reporting period. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company engaged independent valuation specialists to determine the fair value of non-financial assets&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_497d4fc0444e4a8bb9bca9163e75da9b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.29&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Current versus non-current classification:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; The Company presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. &lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-7.1pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;An asset as current when it is:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Expected to be realised or intended to be sold or consumed in a normal operating cycle &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Held primarily for the purpose of trading &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Expected to be realised within twelve months after the reporting period&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Cash or cash equivalent&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; All other assets are classified as non-current. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;A liability is current:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is expected to be settled in a normal operating cycle&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is held primarily for the purpose of trading &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;It is due to be settled within twelve months after the reporting period&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font-family:'Times New Roman'"&gt;There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; All other liabilities are classified as non-current&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_fedaf76d341940978d34534fffa26beb"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2.30&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Embedded Derivatives:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3):&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(a) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(c) the hybrid contract is not measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial liability at fair value through profit or loss is not separated).&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s embedded derivativesare separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative financial liabilities as of December 31, 2018 (see Note 12). The fair value of the embedded derivative instrument at December&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;31, 2018, is estimated using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield as the Company does not expect to pay a dividend on the foreseeable future, (b) weighted average expected volatility of 80%, (c) risk free rate of 2.48% determined by management using the applicable Treasury Bill as of the measurement date, (d) market value of common stock $2.88 and (e) expected life of 1.89 years as at December 31, 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <glbs:DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:450.05pt; border-collapse:collapse"&gt;&lt;tr style="height:37pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessels cost&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessels accumulated depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Dry docking costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Accumulated depreciation of dry docking costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Net Book Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;198,803&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(90,086)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2,618)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;110,075&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;478&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;478&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Sale of subsidiary&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(19,647)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;7,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(600)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;276&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(12,771)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,985)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,005)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,990)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,156&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(87,871)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(3,347)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;91,792&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;245&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,831)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(862)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,693)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,401&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(92,702)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,830&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(4,209)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;87,320&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;26&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,148&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,174&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,578)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,166)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,744)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.6pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,427&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(97,280)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,978&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(5,375)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;83,750&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory>
  <glbs:DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.25pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:232.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.65pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessels depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,578&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation on office furniture and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,601&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;5,014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory>
  <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;5&amp;#160; Vessels, net &lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The amounts in the consolidated statement of financial position are analysed as follows: &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:450.05pt; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:37pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_682b7e44aca24a06808dc25f4159352b"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessels cost&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Vessels accumulated depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Dry docking costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Accumulated depreciation of dry docking costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Net Book Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;198,803&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(90,086)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(2,618)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;110,075&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;478&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;478&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Sale of subsidiary&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(19,647)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;7,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(600)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;276&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(12,771)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,985)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,005)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,990)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,156&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(87,871)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(3,347)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;91,792&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;245&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,831)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(862)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,693)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,401&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(92,702)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,830&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(4,209)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;87,320&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additions/ (Dry Docking Component)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;26&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,148&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,174&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.85pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(4,578)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(1,166)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(5,744)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.6pt"&gt;&lt;td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Balance at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;179,427&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(97,280)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,978&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(5,375)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;83,750&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160; &lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the purpose of the consolidated statement of comprehensive loss, depreciation, as stated in the income statement component, comprises the following:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:438.25pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_91af3687516e4a349166a90e7a260bbd"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="3" style="width:232.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;For the year ended December 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.65pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Vessels depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,578&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,831&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;4,985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Depreciation on office furniture and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14.45pt"&gt;&lt;td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:77.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,601&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:74.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;4,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:59.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;5,014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Company&amp;#8217;s vessels have been pledged as collateral to secure the bank loans discussed in note 12.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Impairment of non-financial assets:&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company performed an assessment on whether there were indicators that a vessel(s) may be impaired. As impairment indicators were identified, discounted future cash flows for each vessel were determined and compared to the vessel&amp;#8217;s carrying value. The projected net discounted future cash flows for the first year were determined by considering an estimated daily time charter equivalent based on the most recent blended (for modern and older vessels) FFA (i.e. Forward Freight Agreements) time charter rate for the year of 2019 for each type of vessel. For the remaining useful life of the vessels, the Company used the historical ten-year blended average one-year time charter rates substituting for the year 2016 that was considered as extreme values, with the year 2006. The rates were adjusted assuming an annual growth rate of 1.7% as published by the International Monetary Fund, net of commissions. Expected outflows for scheduled vessels maintenance were taken into consideration as well as vessel operating expenses assuming an average annual increase rate of 1% based on the historical trend deriving from actual results for the Company&amp;#8217;s vessels since their delivery under Company&amp;#8217;s technical management. The average time charter rates used were in line with the overall chartering strategy, especially in periods/years of depressed charter rates; reflecting the full operating history of vessels of the same type and particulars with the Company&amp;#8217;s operating fleet (Supramax and Panamax vessels with a deadweight (&amp;#8220;dwt&amp;#8221;) of over 50,000 and 70,000, respectively) and they covered at least one full business cycle. Effective fleet utilization was assumed at 90% (including ballast days), taking into account the period(s) each vessel is expected to undergo her scheduled maintenance (dry-docking and special surveys), as well as an estimate of the period(s) needed for finding suitable employment and off-hire for reasons other than scheduled maintenance, assumptions in line with the Company&amp;#8217;s expectations for future fleet utilization under the current fleet deployment strategy. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, 2017 and 2016, no impairment loss was recognized &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;as the vessels&amp;#8217; recoverable amounts exceeded their carrying amounts&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
  <glbs:DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:495.05pt; border-collapse:collapse"&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Borrower&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Loan Balance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Unamortized Debt Discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total Borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Devocean Maritime Ltd., Domina Maritime Ltd. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;amp; Dulac Maritime S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(46)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,117&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(c)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(d) &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Artful Shipholding S.A. &amp;amp; Longevity Maritime Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(249)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,251&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(295)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;36,868&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less: Current Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(35,663)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;295&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(35,368)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-Term Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(122)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less: Current Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(41,660)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(41,538)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-Term Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition>
  <glbs:DisclosureOfLongTermDebtAnnualPrincipalPayments contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2018, assuming that the banks will not demand the repayment of the loans before their maturity, were as follows:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:404.3pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(c)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(d)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:24pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Hamburg Commercial Bank AG&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Firment Shipping Inc. &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Macquarie Bank International Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Advance (A)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Advance (B)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;23.934&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2020&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3.971&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2021&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1.771&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2022&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1.771&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2023 and thereafter&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,444&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3.972&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6.416&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;7,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37.863&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2017, assuming that the banks would not demand the repayment of the loans before their maturity, were as follows:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:336.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(b)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:24pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Hamburg Commercial Bank AG &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;DVB Bank&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:103.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Tranche (A)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Tranche (B)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,774&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,380&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,249&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12,403&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;7,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29,257&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2020 and thereafter&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;24,937&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,380&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,343&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</glbs:DisclosureOfLongTermDebtAnnualPrincipalPayments>
  <ifrs-full:DisclosureOfBorrowingsExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Long-Term Debt, net&amp;#160; &lt;/font&gt;&lt;/h1&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Long-term debt in the consolidated statement of financial position is analysed as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;table cellspacing="0" cellpadding="0" style="width:495.05pt; border-collapse:collapse; text-align:left"&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_13d5eaaf62cd4a82beca3b4a33ea4583"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Borrower&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Loan Balance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Unamortized Debt Discount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total Borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Devocean Maritime Ltd., Domina Maritime Ltd. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;amp; Dulac Maritime S.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(46)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,117&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(c)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus Maritime Ltd.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(d) &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Artful Shipholding S.A. &amp;amp; Longevity Maritime Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(249)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;13,251&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total at December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(295)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;36,868&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less: Current Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(35,663)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;295&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(35,368)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-Term Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total at December 31, 2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(122)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,538&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Less: Current Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(41,660)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(41,538)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Long-Term Portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In February 2015, Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. (&amp;#8220;Devocean et al.&amp;#8221;), vessel owning companies of m/v River Globe, m/v Sky Globe and m/v Star Globe, respectively, entered into a loan agreement for up to $30,000 with Hamburg Commercial Bank AG (formerly known as HSH Nordbank AG) (the &amp;#8220;Bank&amp;#8221;) for the purpose of partially prepaying the then outstanding secured reducing revolving credit facility with Credit Suisse AG. The loan facility is in the names of Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. as the borrowers and is guaranteed by Globus (&amp;#8220;Guarantor&amp;#8221;). The loan facility bears interest at LIBOR plus a margin of 3.00% for interest periods of three months and 3.10% for interest periods of one month. This Hamburg Commercial loan facility was referred as HSH Loan Facility in previous reports of the Company and it continued to be the same facility as the Bank changed its name from HSH Nordbank AG to Hamburg Commercial Bank AG in February 2019. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On March 3, 2015, Devocean et al. drew down $29,405 as analyzed below and the Company prepaid $30,000 to Credit Suisse AG reducing the balance due to Credit Suisse AG to $5,000, which was settled in July 2015.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Tranche (A) of $8,580 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v River Globe. The balance outstanding of tranche (A) at December 31, 2018, was $6,095 payable in 4 equal quarterly installments of $239 starting, March 2019, as well as a balloon payment of $5,139 due together with the 4th and final installment due in December 2019. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Tranche (B) of $10,100 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Sky Globe. The balance outstanding of tranche (B) at December 31, 2018, was $7,697 payable in 4 equal quarterly installments of $230 starting, March 2019, as well as a balloon payment of $6,777 due together with the 4th and final installment due in December 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Tranche (C) of $10,725 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Star Globe. The balance outstanding of tranche (C) at December 31, 2018, was $8,371 payable in 4 equal quarterly installments of $224 starting, March 2019, as well as a balloon payment of $7,475 due together with the 4th and final installment due in December 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The loan is secured by, among other things:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;First preferred mortgage over m/v River Globe, m/v Sky Globe and m/v Star Globe. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Guarantees from the vessel owning companies and from Globus.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;First preferred assignment of all insurances and earnings of the mortgaged vessels. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Assignment of charter in respect of each vessel and an assignment of any guarantee or security in respect of such charters.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Assignment of any related hedging agreements. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The original loan agreement contains various covenants requiring the vessels owning companies and Globus to ensure that:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the aggregate fair market value of the mortgaged vessels must equal or exceed 125% of the outstanding balance under the loan agreement. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the ratio of the Company&amp;#8217;s total liabilities to its market adjusted total assets shall not exceed 75%.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the Company maintains a minimum market adjusted net worth of more than or equal $30,000.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the vessel owning subsidiaries must each maintain a minimum liquidity of $250 in an account pledged to the bank,&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;the Company shall maintain a minimum liquidity of greater than 5% of its consolidated indebtedness.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin-top:0pt; margin-right:6.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 6.45pt 0pt 21.3pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;On July 10, 2017, the Company entered a Second Supplemental Agreement for the period from March 4, 2017 to March 3, 2018. The main points agreed in this Second Supplemental Agreement were:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 6.45pt 0pt 21.3pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Additional deferrals to the last scheduled repayment date of the principal amount of the loan during the period from June 3, 2016 through March 3, 2018, of $956 in relation to Devocean, $920 in relation to Domina, and $898 in relation to Dulac. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Deferral fee of 2.5 per cent per annum on the additional deferred amounts calculated from March 4, 2017 until March 3, 2018. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Prepayment of $1,000 on or before September 27, 2017, which has been settled.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Undertaking that the Company to raise at least $1,800 from its shareholders by December 31, 2017, which has been satisfied.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Restriction of the borrowers to make distributions or other payments to the Company so long as such additional deferred amounts remain outstanding.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Waiver from June 3, 2016 through March 3, 2018, of the requirement that the Company maintains a net worth of at least $30,000 and holds cash on a consolidated basis with its subsidiaries of at least 5% of their consolidated indebtedness.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2017, the Company was in compliance with the covenants of &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Hamburg Commercial Bank AG &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;loan agreement, as amended and in effect.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;During 2018 and after the expiration of the Second Supplemental Agreement, the Company did not obtain further waivers and the breached covenants contained in this loan agreement constituted an event of default. Although the loan matures and is to be settled in full through December 2019, due to the event of default, Hamburg Commercial Bank AG can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt. Until the date of issuance of these consolidated financial statements no such action had been taken by the lender against the Company.&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company was not in compliance with the loan covenants of the Hamburg Commercial Bank AG &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;loan agreement&lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In more detail:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ol type="i" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"&gt;&lt;font&gt;The aggregate amount of cash held by the Company on a consolidated basis should, on each day, exceed an amount in dollars equal to 5% of the Total Indebtedness. The Company&amp;#8217;s cash as of December 31, 2018, was $46 whereas it should have been $1,893.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"&gt;&lt;font&gt;Tangible Net Worth should not at any time be less than $30,000. As of December 31, 2018, the Company&amp;#8217;s Tangible Net Worth was $13,550.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"&gt;&lt;font&gt;The ratio of Total Liabilities to the Market Value Adjusted Assets should at all times be less than 0.75:1.00. The Company&amp;#8217;s ratio as of December 31, 2018, was 0.77:1.00.&lt;/font&gt;&lt;/li&gt;&lt;/ol&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;ol start="4" type="i" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-right:7.05pt; margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"&gt;&lt;font&gt;The Borrowers should maintain in the Minimum Liquidity Account at all times cash balances in an aggregate amount of no less than Two hundred and fifty thousand dollars ($250) per Mortgaged Ship; therefore, it should have $750 for the three vessels. The Company had $600 as restricted cash as of December 31, 2018, &lt;/font&gt;&lt;/li&gt;&lt;/ol&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;(b)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;In June 2011, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&amp;#8220;Artful&amp;#8221;) and Longevity Maritime Limited (&amp;#8220;Longevity&amp;#8221;), entered into the DVB Loan Agreement for an amount up to $40,000 with DVB Bank SE and used funds borrowed thereunder to finance part of the purchase price for the m/v Moon Globe and m/v Sun Globe.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;In June 2011, $19,000 was drawn down (Tranche A) for the purpose of partly financing the acquisition of the m/v Moon Globe and in September 2011, $18,000 was drawn (Tranche B) for the purpose of partly financing the acquisition of the m/v Sun Globe. As at December 13, 2018, the balance of both tranches of $15,010 was fully repaid using the proceedings from the new loan agreements with Macquarie Bank International Limited and Firment Shipping Inc.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Book Antiqua'; font-weight:bold"&gt;(c)&lt;/font&gt;&lt;font style="font-family:'Book Antiqua'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In November 2018, Globus Maritime Limited entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (Note 4). The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right to drawdown any amount of up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the drawdown date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&amp;#8220;VWAP&amp;#8221;) over the pricing period multiplied by 80%, where the &amp;#8220;Pricing Period&amp;#8221; equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or (ii) Two US Dollars and Eighty Cents ($2.80). &lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As per the conversion clause included in the Firment Shipping Credit Facility, the Company has recognized this agreement as a hybrid agreement which includes an embedded derivative. This embedded derivative was separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. For the year ended December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was $2,200. The non-derivative host was classified under &amp;#8220;long-term borrowings&amp;#8221; in the consolidated statement of financial position and was $1,500 and the derivative component that was initially recognized amounted to $700 and was classified under &amp;#8220;fair value of derivative financial instruments&amp;#8221; in the consolidated statement of financial position. &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the year ended December 31, 2018, the Company recognized a loss on this derivative financial instrument amounting to $131, which was classified under &amp;#8220;loss on derivative financial instruments&amp;#8221; in the consolidated statement of comprehensive loss.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Firment Shipping Credit Facility requires that Athanasios Feidakis remain our Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company in compliance with the loan covenants of the Firment Shipping Credit Facility.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"&gt;(d)&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;In December 2018, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&amp;#8220;Artful&amp;#8221;) and Longevity Maritime Limited (&amp;#8220;Longevity&amp;#8221;), entered into the Macquarie Loan Agreement for an amount up to $13,500 with Macquarie Bank International Limited and used funds borrowed thereunder to refinance part of the repayment of the existing DVB Loan Agreement for the m/v Moon Globe and m/v Sun Globe. Globus acts as guarantor for this loan. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;In December 2018, $6,000 (Artful Advance) and $7,500 (Longevity Advance) were drawn down for the purpose of partly refinancing the existing DVB Loan Agreement for m/v Moon Globe and m/v Sun Globe, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;Artful Advance is payable in 20 quarterly installments of approximately $222, starting in March 2019 and a balloon payment of approximately $1,560 payable together with the 20th and last installment payable in December 2023.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;Longevity Advance is payable in 20 quarterly installments of approximately $221, starting in March 2019 and a balloon payment of approximately $3,080 payable together with the 20th and last installment payable in December 2023.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The loan is secured by, among other things:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;First preferred mortgage over m/v Moon Globe and m/v Sun Globe. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Guarantees from the vessel owning companies and from Globus.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Assignment of all insurances and earnings of the mortgaged vessels. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Account pledges respecting the minimum liquidity accounts and operating accounts of the Company described in the loan agreement.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:0.55pt; text-align:justify; line-height:12pt"&gt;&lt;font style="font-family:'Times New Roman'; font-size:9pt"&gt;The original loan agreement and/or the original Globus guarantee contains various covenants requiring the vessels owning companies and/or Globus to, amongst others things, ensure that:&lt;/font&gt;&lt;/p&gt;&lt;ul type="disc" style="margin:0pt; padding-left:0pt"&gt;&lt;li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font:7pt 'Times New Roman'"&gt;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The aggregate fair market value of the m/v Sun Globe and the m/v Moon Globe must equal or exceed 160% of the outstanding balance under the loan. &lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font:7pt 'Times New Roman'"&gt;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;The vessel owning subsidiaries must each maintain a minimum liquidity of $375 in an account pledged to the bank per vessel owned by the Company.&lt;/font&gt;&lt;/li&gt;&lt;li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"&gt;&lt;font style="font:7pt 'Times New Roman'"&gt;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0;&amp;#xa0; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;Each Borrower shall ensure that it has a Dry Dock Reserve Account which is credited with sufficient funding to cover the forecast dry-docking, special survey and ballast water compliance expenses for each Ship at least three months prior to the date such expenses are to be incurred such forecasted expenses.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; color:#0000ff"&gt;&amp;#xa0;&lt;/font&gt;&lt;/h1&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As of December 31, 2018, the Company was in compliance with the covenants of Macquarie Loan Agreement.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;As the Company has breached the covenants contained in the Hamburg Commercial Bank AG loan agreement referred to above which constitutes an event of default. Due to the cross-default provisions included in Macquarie Loan Agreement, the Company&amp;#8217;s lender can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt. Until the date of issuance of these consolidated financial statements no such action had been taken by the lender against the Company.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Book Antiqua'; font-weight:bold"&gt;(e)&lt;/font&gt;&lt;font style="font-family:'Book Antiqua'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In January 2016, Globus Maritime Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (Note 4). The Silaner Credit Facility was unsecured and remained available until its final maturity date on January 12, 2018. The Company had the right to drawdown any amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged on the amounts remaining available and undrawn.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In connection with the February 2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments Limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share. During 2017, the Company drew down $ 280 under this facility and, before the end of the year, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. As of December 31, 2017, no amount was drawn and outstanding with respect to the facility. The Silaner Credit Facility terminated at January 12, 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(f)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font style="font-family:'Times New Roman'"&gt;In December 2013, Globus entered into a credit facility for up to $4,000 with Firment Trading Limited, an affiliate of the Company&amp;#8217;s chairman, for the purpose of financing its general working capital needs (&amp;#8220;Firment Credit Facility&amp;#8221;). Effective from December 2014, through a supplemental agreement in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through a second supplemental agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a third supplemental agreement, the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall Islands corporation, each of which is an affiliate of the Company&amp;#8217;s chairman. The Company had the right to drawdown any amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In connection with the February 2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12, 2017.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;a name="DM_MAP_23e57db8376240e8a1e1d45bab2f116b"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2018, assuming that the banks will not demand the repayment of the loans before their maturity, were as follows:&lt;/font&gt;&lt;/a&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:404.3pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(c)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(d)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:24pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Hamburg Commercial Bank AG&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Firment Shipping Inc. &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Macquarie Bank International Limited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Advance (A)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Advance (B)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;23.934&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2020&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;3.971&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2021&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1.771&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2022&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;889&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;882&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;1.771&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2023 and thereafter&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,444&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;3.972&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6.416&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:35.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:63.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;2,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:56.7pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;6,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:51pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;7,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;37.863&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2017, assuming that the banks would not demand the repayment of the loans before their maturity, were as follows:&lt;/font&gt;&lt;/p&gt;&lt;div style="text-align:center"&gt;&lt;table cellspacing="0" cellpadding="0" style="width:336.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(a)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;(b)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:24pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Hamburg Commercial Bank AG &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;DVB Bank&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:103.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;December 31&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Tranche (A)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Tranche (B)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2,774&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;8,380&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;1,249&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;12,403&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;22,163&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;7,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;29,257&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:12.75pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;2020 and thereafter&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:13.5pt"&gt;&lt;td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:49.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;24,937&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:45.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,380&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;8,343&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="width:42.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;41,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; The weighted average interest rate for the years ended December 31, 2018 and 2017, was 4.97% and 3.8%, respectively. &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfBorrowingsExplanatory>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="FYp0YTE">&lt;div class="Section1"&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;20&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Income Tax&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Under the laws of the countries of the vessel owning companies&amp;#8217; incorporation and / or vessels&amp;#8217; registration, vessel owning companies are not subject to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in vessel operating expenses in the accompanying consolidated statements of loss.&lt;/font&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;Greek Authorities Tax&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In January 2013, the tax Law 4110/2013 amended the long-standing 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 shipowning company and of all its shareholders up to the ultimate beneficial owners. Any tax payable to the state of the flag of each vessel as a result of its registration with a foreign flag registry (including the Marshall Islands) is subtracted from the amount of tonnage tax due to the Greek tax authorities. As of December 31, 2018, 2017 and 2016, the tax expense under the law amounted to $118, $116 and $264, respectively and is included in administrative expenses in the consolidated statements of comprehensive loss.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"&gt;U.S. Federal Income Tax&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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 earn United States (&amp;#8220;U.S&amp;#8221;) source shipping income for U.S. federal income tax purposes.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Globus believes that to the best of its knowledge, under &amp;#167; 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, are currently exempt from U.S. federal income tax.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&amp;#160; The discussion and its conclusion are based upon existing U.S. federal income tax law, including the Internal Revenue Code (the &amp;#8220;Code&amp;#8221;) and final U.S. Treasury Regulations (the &amp;#8220;Regs&amp;#8221;) as currently in effect, all of which are subject to change, possibly with retroactive effect.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Application of &amp;#167; 883 of the Code for the year ended December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In general, under &amp;#167; 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 (&amp;#8220;gross transportation income&amp;#8221;). Absent &amp;#167; 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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Shipping income attributable to transportation exclusively between non-U.S. ports is generally not subject to any U.S. Federal income tax. &amp;#8220;Shipping income&amp;#8221; generally means income that is derived from:&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(a) the use of vessels;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(b) the hiring or leasing of vessels for use on a time, operating or bareboat charter basis;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(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&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;(d) the performance of services directly related to those uses.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;The Regs provide that a foreign corporation will qualify for the benefits of &lt;/font&gt;&lt;a name="_Hlk4142017"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#167;&lt;/font&gt;&lt;/a&gt;&lt;font style="font-family:'Times New Roman'"&gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Qualified Shareholder Test&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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&amp;apos;s taxable year by one or more qualified shareholders will meet the qualified shareholder test.&amp;#160; 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.&amp;#160; 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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'; font-style:italic"&gt;Publicly Traded Test&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;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 &amp;#8220;primarily and regularly traded&amp;#8221; on an established securities market either in the United States or in a foreign country that grants an equivalent exemption. Among others, &amp;#167; 883 provides, in relevant part, that the shares of a non-United States corporation will be considered to be &amp;#8220;primarily traded&amp;#8221; 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. &lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;Notwithstanding the foregoing, &amp;#167; 883 provides, in relevant part, that a class of shares will not be considered to be &amp;#8220;regularly traded&amp;#8221; 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.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;In the event that the 5 Percent Override Rule is triggered, &amp;#167; 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 &amp;#167; 883 to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the Company&amp;#8217;s common shares for more than half the number of days during the taxable year.&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;&amp;#xa0;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"&gt;&lt;font style="font-family:'Times New Roman'"&gt;For the year ended December 31, 2018, Globus and its wholly owned subsidiaries deriving income from the operation of international ships are organized in foreign countries that grant equivalent exemptions to corporations organized in the U.S. Globus has more than 50% of the value of its common stock for at least half of the number days of their taxable year indirectly owned in the form of registered shares by one individual residing in a qualified foreign country.&amp;#160; Accordingly, all of Globus&amp;#8217; and its ship-owning or operating subsidiaries that rely on &amp;#167; 883 for exempting U.S. source income from the international operation of ships should not be subject to U.S. federal income tax for the year ended December 31, 2018. Globus anticipates it and its relevant subsidiaries income will continue to be exempt in the future from U.S. federal income tax. However, in the future, Globus or its subsidiaries may not continue to satisfy certain criteria in the U.S. tax laws and as such, may become subject to the U.S. federal income tax on future U.S. source shipping income.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <link:footnoteLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:footnote xlink:type="resource" xlink:label="fn0" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US">These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.</link:footnote>
    <link:loc xlink:type="locator" xlink:label="f0" xlink:href="#f0" />
    <link:loc xlink:type="locator" xlink:label="f0" xlink:href="#f1" />
    <link:footnoteArc xlink:type="arc" xlink:from="f0" xlink:to="fn0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" />
    <link:footnote xlink:type="resource" xlink:label="fn1" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US">These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.</link:footnote>
    <link:loc xlink:type="locator" xlink:label="f1" xlink:href="#f2" />
    <link:loc xlink:type="locator" xlink:label="f1" xlink:href="#f3" />
    <link:footnoteArc xlink:type="arc" xlink:from="f1" xlink:to="fn1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" />
  </link:footnoteLink>
</xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>8
<FILENAME>glbs-20181231.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0228 -->
<!--
Taxonomy based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 09:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2018 UBmatrix inc., All Rights Reserved
Produced on 2018-01-09 12:04:48
-->
<schema targetNamespace="http://www.globusmaritime.gr/20181231" attributeFormDefault="unqualified" elementFormDefault="qualified" xmlns="http://www.w3.org/2001/XMLSchema" xmlns:glbs="http://www.globusmaritime.gr/20181231" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <annotation>
    <appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="glbs-20181231_pre.xml" xlink:title="Presentation Links, all" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="glbs-20181231_cal.xml" xlink:title="Calculation Links, all" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="glbs-20181231_def.xml" xlink:title="Definition Links, all" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="glbs-20181231_lab.xml" xlink:title="Label Links, all" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>
      <link:roleType roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss" id="ConsolidatedStatementComprehensiveIncomeLoss">
        <link:definition>000200 - Statement - Consolidated Statements of Comprehensive Loss</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition" id="ConsolidatedStatementOfFinancialPosition">
        <link:definition>000300 - Statement - Consolidated Statements of Financial Position</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity" id="ConsolidatedStatementChangesInEquity">
        <link:definition>000400 - Statement - Consolidated Statements of Changes in Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows" id="ConsolidatedStatementCashFlows">
        <link:definition>000500 - Statement - Consolidated Statements of Cash Flows</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails" id="BasisOfPresentationAndGeneralInformationTableDetails">
        <link:definition>400100 - Disclosure - Basis of Presentation and General Information (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails" id="BasisOfPresentationAndGeneralInformationDetails">
        <link:definition>400110 - Disclosure - Basis of Presentation and General Information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails" id="CashAndCashEquivalentsAndRestrictedCashTableDetails">
        <link:definition>400300 - Disclosure - Cash and cash equivalents and Restricted cash (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashDetails" id="CashAndCashEquivalentsAndRestrictedCashDetails">
        <link:definition>400310 - Disclosure - Cash and cash equivalents and Restricted Cash (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails" id="TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails">
        <link:definition>400400 - Disclosure - Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails" id="TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails">
        <link:definition>400410 - Disclosure - Transactions with Related Parties - Compensation to the Company's Executive Director (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails" id="TransactionsWithRelatedPartiesDetails">
        <link:definition>400420 - Disclosure - Transactions with Related Parties (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails" id="VesselsNetTableDetails">
        <link:definition>400500 - Disclosure - Vessels, net - Consolidated Statement of Financial Position (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails" id="VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails">
        <link:definition>400510 - Disclosure - Vessels, net - Consolidated Statement of Comprehensive Income (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetDetails" id="VesselsNetDetails">
        <link:definition>400530 - Disclosure - Vessels, net (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails" id="InventoriesTableDetails">
        <link:definition>400600 - Disclosure - Inventories (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayableDetails" id="TradeAccountsPayableDetails">
        <link:definition>400800 - Disclosure - Trade accounts payable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails" id="PrepaymentsAndOtherAssetsTableDetails">
        <link:definition>400700 - Disclosure - Prepayments and other assets (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails" id="AccruedLiabilitiesAndOtherPayablesTableDetails">
        <link:definition>400900 - Disclosure - Accrued liabilities and other payables (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails" id="ShareCapitalAndSharePremiumCommonSharesTableDetails">
        <link:definition>401010 - Disclosure - Share Capital and Share Premium - Common Shares (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails" id="ShareCapitalAndSharePremiumTableDetails">
        <link:definition>401000 - Disclosure - Share capital and share premium (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails" id="ShareCapitalAndSharePremiumPreferredSharesTableDetails">
        <link:definition>401020 - Disclosure - Share Capital and Share Premium - Preferred Shares (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails" id="ShareCapitalAndSharePremiumDetails">
        <link:definition>401030 - Disclosure - Share Capital and Share Premium (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails" id="EarningsLossPerShareTableDetails">
        <link:definition>401100 - Disclosure - Loss per Share (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails" id="LongTermDebtNetTableDetails">
        <link:definition>401200 - Disclosure - Long-Term Debt, net (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails" id="EarningsLossPerShareDetails">
        <link:definition>401110 - Disclosure - Loss per Share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails" id="LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails">
        <link:definition>401210 - Disclosure - Long-Term Debt, net - Annual Loan Principal Payments (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetTableDetails" id="VesselsNetImpairmentTableDetails">
        <link:definition>400520 - Disclosure - Vessels, net - Impairment loss (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails" id="LongTermDebtNetDevoceanDetails">
        <link:definition>401220 - Disclosure - Long-Term Debt, Net - Hamburg Commercial Bank AG Loan Agreement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails" id="ShareBasedPaymentTableDetails">
        <link:definition>401300 - Disclosure - Share Based Payment (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails" id="ShareBasedPaymentDetails">
        <link:definition>401310 - Disclosure - Share Based Payments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails" id="VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails">
        <link:definition>401400 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails" id="VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails">
        <link:definition>401410 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails" id="AdministrativeExpensesTableDetails">
        <link:definition>401500 - Disclosure - Administrative Expenses (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails" id="InterestExpenseAndFinanceCostsTableDetails">
        <link:definition>401600 - Disclosure - Interest Expense and Finance Costs (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/DividendsTableDetails" id="DividendsTableDetails">
        <link:definition>401700 - Disclosure - Dividends (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/DividendsDetails" id="DividendsDetails">
        <link:definition>401710 - Disclosure - Dividends (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails" id="CommitmentsFutureMinimumReceivablesTableDetails">
        <link:definition>401900 - Disclosure - Commitments (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails" id="CommitmentsFutureMinimumPaymentsTableDetails">
        <link:definition>401910 - Disclosure - Commitments - Future minimum lease payments (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsDetails" id="CommitmentsDetails">
        <link:definition>401920 - Disclosure - Commitments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/IncomeTaxDetails" id="IncomeTaxDetails">
        <link:definition>402000 - Disclosure - Income Tax (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>000100 - Document - Document And Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetKeltyLoanAgreementDetails" id="LongTermDebtNetKeltyLoanAgreementDetails">
        <link:definition>401250 - Disclosure - Long-Term Debt, Net - Kelty Loan Agreement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails" id="LongTermDebtNetDVBLoanAgreementDetails">
        <link:definition>401230 - Disclosure - Long-Term Debt, Net - DVB Loan Agreement and Macquarie Loan Agreement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails" id="LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails">
        <link:definition>401240 - Disclosure - Long-Term Debt, Net - Firment Shipping Inc. and Silaner Investments Limited (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails">
        <link:definition>402100 - Disclosure - Financial risk management objectives and policies - Interest rate risk (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails">
        <link:definition>402110 - Disclosure - Financial risk management objectives and policies - Foreign currency risk (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails">
        <link:definition>402120 - Disclosure - Financial risk management objectives and policies - Concentration of credit risk (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails">
        <link:definition>402130 - Disclosure - Financial risk management objectives and policies - Liquidity risk (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails">
        <link:definition>402140 - Disclosure - Financial risk management objectives and policies - Capital management 1 (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails" id="FinancialRiskManagementObjectivesAndPoliciesTableDetails">
        <link:definition>402150 - Disclosure - Financial risk management objectives and policies - Capital management 2 (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails" id="FinancialRiskManagementObjectivesAndPoliciesDetails">
        <link:definition>402160 - Disclosure - Financial risk management objectives and policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails" id="FairValueMeasurementsTableDetails">
        <link:definition>402200 - Disclosure - Fair values (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsDetails" id="FairValueMeasurementsDetails">
        <link:definition>402210 - Disclosure - Fair values (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails" id="BasisOfPreparationAndSignificantAccountingPoliciesDetails">
        <link:definition>400200 - Disclosure - Basis of Preparation And Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformation" id="BasisOfPresentationAndGeneralInformation">
        <link:definition>100100 - Disclosure - Basis of Presentation And General Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPolicies" id="BasisOfPreparationAndSignificantAccountingPolicies">
        <link:definition>100200 - Disclosure - Basis of Preparation And Significant Accounting Policies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCash" id="CashAndCashEquivalentsAndRestrictedCash">
        <link:definition>100300 - Disclosure - Cash and Cash Equivalents And Restricted Cash</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedParties" id="TransactionsWithRelatedParties">
        <link:definition>100400 - Disclosure - Transactions With Related Parties</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNet" id="VesselsNet">
        <link:definition>100500 - Disclosure - Vessels, net</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/Inventories" id="Inventories">
        <link:definition>100600 - Disclosure - Inventories</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssets" id="PrepaymentsAndOtherAssets">
        <link:definition>100700 - Disclosure - Prepayments And Other Assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayable" id="TradeAccountsPayable">
        <link:definition>100800 - Disclosure - Trade Accounts Payable</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayables" id="AccruedLiabilitiesAndOtherPayables">
        <link:definition>100900 - Disclosure - Accrued Liabilities And Other Payables</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremium" id="ShareCapitalAndSharePremium">
        <link:definition>101000 - Disclosure - Share Capital And Share Premium</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShare" id="EarningsLossPerShare">
        <link:definition>101100 - Disclosure - Loss Per Share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNet" id="LongTermDebtNet">
        <link:definition>101200 - Disclosure - Long-Term Debt, Net</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPayment" id="ShareBasedPayment">
        <link:definition>101300 - Disclosure - Share Based Payment</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpenses" id="VoyageExpensesAndVesselOperatingExpenses">
        <link:definition>101400 - Disclosure - Voyage Expenses And Vessel Operating Expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpenses" id="AdministrativeExpenses">
        <link:definition>101500 - Disclosure - Administrative Expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCosts" id="InterestExpenseAndFinanceCosts">
        <link:definition>101600 - Disclosure - Interest Expense And Finance Costs</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/Dividends" id="Dividends">
        <link:definition>101700 - Disclosure - Dividends</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/Contingencies" id="Contingencies">
        <link:definition>101800 - Disclosure - Contingencies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/Commitments" id="Commitments">
        <link:definition>101900 - Disclosure - Commitments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/IncomeTax" id="IncomeTax">
        <link:definition>102000 - Disclosure - Income Tax</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPolicies" id="FinancialRiskManagementObjectivesAndPolicies">
        <link:definition>102100 - Disclosure - Financial Risk Management Objectives And Policies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FairValue" id="FairValue">
        <link:definition>102200 - Disclosure - Fair Value</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/EventsAfterTheReportingPeriod" id="EventsAfterTheReportingPeriod">
        <link:definition>102300 - Disclosure - Events After The Reporting Period</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesPolicy" id="BasisOfPreparationAndSignificantAccountingPoliciesPolicy">
        <link:definition>200000 - Disclosure - Basis Of Preparation And Significant Accounting Policies (Policy)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails" id="SubsequentEventsDetails">
        <link:definition>402300 - Disclosure - Events after the reporting date (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationTables" id="BasisOfPresentationTables">
        <link:definition>300100 - Disclosure - Basis of presentation and general information (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables" id="CashAndCashEquivalentsTables">
        <link:definition>300300 - Disclosure - Cash and cash equivalents and Restricted cash (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesTables" id="TransactionsWithRelatedPartiesTables">
        <link:definition>300400 - Disclosure - Transactions with Related parties (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetTables" id="VesselsNetTables">
        <link:definition>300500 - Disclosure - Vessels, net (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/InventoriesTables" id="InventoriesTables">
        <link:definition>300600 - Disclosure - Inventories (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTables" id="PrepaymentsAndOtherAssetsTables">
        <link:definition>300700 - Disclosure - Prepayments and other assets (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTables" id="AccruedLiabilitiesAndOtherPayablesTables">
        <link:definition>300900 - Disclosure - Accrued liabilities and other payables (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTables" id="ShareCapitalAndSharePremiumTables">
        <link:definition>301000 - Disclosure - Share Capital and Share Premium (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LossPerShareTables" id="LossPerShareTables">
        <link:definition>301100 - Disclosure - Loss per share (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtTables" id="LongTermDebtTables">
        <link:definition>301200 - Disclosure - Long-Term Debt, net (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables" id="ShareBasedPaymentTables">
        <link:definition>301300 - Disclosure - Share Based Payment (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesTables" id="VoyageExpensesAndVesselOperatingExpensesTables">
        <link:definition>301400 - Disclosure - Voyage Expenses and Vessel Operating Expenses (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTables" id="AdministrativeExpensesTables">
        <link:definition>301500 - Disclosure - Administrative Expenses (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTables" id="InterestExpenseAndFinanceCostsTables">
        <link:definition>301600 - Disclosure - Interest Expense and Finance Costs (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/DividendsTables" id="DividendsTables">
        <link:definition>301700 - Disclosure - Dividends (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsTables" id="CommitmentsTables">
        <link:definition>301900 - Disclosure - Commitments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTables" id="FinancialRiskManagementObjectivesAndPoliciesTables">
        <link:definition>302100 - Disclosure - Financial risk management objectives and policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/FairValuesTables" id="FairValuesTables">
        <link:definition>302200 - Disclosure - Fair values (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails" id="VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails">
        <link:definition>401420 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTableDetails" id="BasisOfPreparationAndSignificantAccountingPoliciesTableDetails">
        <link:definition>400200 - Disclosure - Basis of Preparation And Significant Accounting Policies (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTextBlock" id="BasisOfPreparationAndSignificantAccountingPoliciesTables">
        <link:definition>300200 - Disclosure - Basis of preparation and significant accounting policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </appinfo>
  </annotation>
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd"/>
  <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/>
  <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
  <import namespace="http://xbrl.ifrs.org/taxonomy/2018-03-16/ifrs-full" schemaLocation="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd"/>
  <import namespace="http://xbrl.sec.gov/dei/2018-01-31" schemaLocation="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd"/>
  <import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd"/>
  <element name="AccruedAuditFeesCurrent" id="glbs_AccruedAuditFeesCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="RestrictedCashCollateralBreached" id="glbs_RestrictedCashCollateralBreached" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="AccruedDirectorsCompensation" id="glbs_AccruedDirectorsCompensation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" id="glbs_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="AccumulatedDepreciationPropertyPlantAndEquipment" id="glbs_AccumulatedDepreciationPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" id="glbs_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AccumulatedDepreciationSaleOfSubsidiary" id="glbs_AccumulatedDepreciationSaleOfSubsidiary" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" id="glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" id="glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AdjustmentsForIncreaseDecreaseInDeferredRevenue" id="glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AdministrativeExpenseRelatedPartyTransactions" id="glbs_AdministrativeExpenseRelatedPartyTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DirectorsCompensationSharebasedPayment" id="glbs_DirectorsCompensationSharebasedPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="AffiliatedCompanyOfCompanysCEOMember" id="glbs_AffiliatedCompanyOfCompanysCEOMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="AllowanceForDoubtfulTradeReceivables" id="glbs_AllowanceForDoubtfulTradeReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DeferredDryDockingCostsMember" id="glbs_DeferredDryDockingCostsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ArtfulShipholdingSALongevityMaritimeLimitedMember" id="glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GlobusMaritimeLtdMember" id="glbs_GlobusMaritimeLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ArtfulShipholdingSAMember" id="glbs_ArtfulShipholdingSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" id="glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="AssumptionOfExpectedRatesOfInflation" id="glbs_AssumptionOfExpectedRatesOfInflation" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="AssumptionOfFleetUtilisationRate" id="glbs_AssumptionOfFleetUtilisationRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="BorrowingsGross" id="glbs_BorrowingsGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="ConvertibleDebtIncludingEmbeddedDerivative" id="glbs_ConvertibleDebtIncludingEmbeddedDerivative" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="BunkerInventoryCurrent" id="glbs_BunkerInventoryCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="CarryingAmountIMember" id="glbs_CarryingAmountIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CashAndCashEquivalentsFairValueDisclosure" id="glbs_CashAndCashEquivalentsFairValueDisclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="ChiefExecutiveOfficerMember" id="glbs_ChiefExecutiveOfficerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ClassBCommonSharesMember" id="glbs_ClassBCommonSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ClassBCommonSharesOutstandingMember" id="glbs_ClassBCommonSharesOutstandingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CurrentInsuranceDeductibles" id="glbs_CurrentInsuranceDeductibles" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="CurrentPortionOfDebtInstrumentUnamortisedDiscount" id="glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="CurrentPortionOfLongTermBorrowingsGross" id="glbs_CurrentPortionOfLongTermBorrowingsGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="CyberonicaSAMember" id="glbs_CyberonicaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DailyConsultingFeeIncome" id="glbs_DailyConsultingFeeIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodAxis" id="glbs_DebtInstrumentPaymentPeriodAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodMember" id="glbs_DebtInstrumentPaymentPeriodMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodOneMember" id="glbs_DebtInstrumentPaymentPeriodOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodSixMember" id="glbs_DebtInstrumentPaymentPeriodSixMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodThreeMember" id="glbs_DebtInstrumentPaymentPeriodThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodFourMember" id="glbs_DebtInstrumentPaymentPeriodFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodFiveMember" id="glbs_DebtInstrumentPaymentPeriodFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentPaymentPeriodTwoMember" id="glbs_DebtInstrumentPaymentPeriodTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentUnamortisedDiscount" id="glbs_DebtInstrumentUnamortisedDiscount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="DepreciationOfDryDockingCosts" id="glbs_DepreciationOfDryDockingCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DepreciationOfficeFurnitureAndEquipment" id="glbs_DepreciationOfficeFurnitureAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" id="glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DevoceanMaritimeLtdMember" id="glbs_DevoceanMaritimeLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DocumentEntityInformationAbstract" id="glbs_DocumentEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DominaMaritimeLtdMember" id="glbs_DominaMaritimeLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DryDockingMember" id="glbs_DryDockingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DulacMaritimeSAMember" id="glbs_DulacMaritimeSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ElysiumMaritimeLimitedMember" id="glbs_ElysiumMaritimeLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EnergyGlobeMember" id="glbs_EnergyGlobeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EolosShipmanagementSAMember" id="glbs_EolosShipmanagementSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExecutiveDirectorsMember" id="glbs_ExecutiveDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExercisePriceOfOutstandingWarrants" id="glbs_ExercisePriceOfOutstandingWarrants" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ExtraDepreciationPropertyPlantAndEquipment" id="glbs_ExtraDepreciationPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="FairValueOfTimeCharterAttachedMember" id="glbs_FairValueOfTimeCharterAttachedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirmentTradingLimitedMember" id="glbs_FirmentTradingLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GasCylindersInventoryCurrent" id="glbs_GasCylindersInventoryCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="GlobusShipmanagementCorpMember" id="glbs_GlobusShipmanagementCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseInNumberOfPreferredSharesIssued" id="glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LineOfCreditFacilityDecreaseForgiveness" id="glbs_LineOfCreditFacilityDecreaseForgiveness" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="LineOfCreditFacilityDrawndownAmountsMultiples" id="glbs_LineOfCreditFacilityDrawndownAmountsMultiples" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LineOfCreditFacilityMaximumBorrowingCapacity" id="glbs_LineOfCreditFacilityMaximumBorrowingCapacity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="LongTermBorrowingsGross" id="glbs_LongTermBorrowingsGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="LongTermDebtInstrumentUnamortisedDiscount" id="glbs_LongTermDebtInstrumentUnamortisedDiscount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="LongevityMaritimeLimitedMember" id="glbs_LongevityMaritimeLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LubricantsInventoryCurrent" id="glbs_LubricantsInventoryCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="MonthlyRentalExpense" id="glbs_MonthlyRentalExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="NonExecutiveDirectorsMember" id="glbs_NonExecutiveDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfOperatingSegments" id="glbs_NumberOfOperatingSegments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfSharesCalledByWarrants" id="glbs_NumberOfSharesCalledByWarrants" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" id="glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfWarrantsOutstanding" id="glbs_NumberOfWarrantsOutstanding" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfWarrantsExercised" id="glbs_NumberOfWarrantsExercised" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="October2017WarrantsMember" id="glbs_October2017WarrantsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfSharesHeldByControllingParty" id="glbs_NumberOfSharesHeldByControllingParty" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="OtherAccruals" id="glbs_OtherAccruals" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="PanamaxMember" id="glbs_PanamaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PaymentsOfDeferredDryDockingCosts" id="glbs_PaymentsOfDeferredDryDockingCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="ProportionOfOwnershipInterestsHeldByControllingParty" id="glbs_ProportionOfOwnershipInterestsHeldByControllingParty" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="RentalAnnualIncreaseRateAboveInflation" id="glbs_RentalAnnualIncreaseRateAboveInflation" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="RestrictedCashAndCashEquivalentsFairValueDisclosure" id="glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="ReverseStockSplitConversionRatio" id="glbs_ReverseStockSplitConversionRatio" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="SeriesaPreferredSharesMember" id="glbs_SeriesaPreferredSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SilanerInvestmentsLimitedMember" id="glbs_SilanerInvestmentsLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirmentTradingLimitedIIMember" id="glbs_FirmentTradingLimitedIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockRedeemedDuringPeriodShares" id="glbs_StockRedeemedDuringPeriodShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockRedeemedDuringPeriodValue" id="glbs_StockRedeemedDuringPeriodValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="SunGlobeMember" id="glbs_SunGlobeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SupramaxMember" id="glbs_SupramaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TiaraGlobeMember" id="glbs_TiaraGlobeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ValueOfSharesAuthorised" id="glbs_ValueOfSharesAuthorised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="ValueOfSharesIssuedAbstract" id="glbs_ValueOfSharesIssuedAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselCapacity" id="glbs_VesselCapacity" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="VesselDeliveryDate" id="glbs_VesselDeliveryDate" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsScrapRatePerTon" id="glbs_VesselsScrapRatePerTon" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="HSHNordbankAGLoanAgreementMember" id="glbs_HSHNordbankAGLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HSHNordbankAndDVBBankMember" id="glbs_HSHNordbankAndDVBBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseVoyageRevenues" id="glbs_IncreaseDecreaseVoyageRevenues" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseVoyageExpenses" id="glbs_IncreaseDecreaseVoyageExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="PeriodOfInterestRatesAxis" id="glbs_PeriodOfInterestRatesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DeferralFeePercentage" id="glbs_DeferralFeePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LoanPrincipalAmountDeferred" id="glbs_LoanPrincipalAmountDeferred" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="PeriodOfInterestRatesMember" id="glbs_PeriodOfInterestRatesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestPeriodThreeMonthsMember" id="glbs_InterestPeriodThreeMonthsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestPeriodOneMonthMember" id="glbs_InterestPeriodOneMonthMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DVBBankLoanAgreementMember" id="glbs_DVBBankLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MacquarieBankInternationalLimitedLoanAgreementMember" id="glbs_MacquarieBankInternationalLimitedLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HamburgCommercialBankAGLoanAgreementMember" id="glbs_HamburgCommercialBankAGLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HamburgCommercialBankAGLoanAgreementIIMember" id="glbs_HamburgCommercialBankAGLoanAgreementIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="FirmentShippingIncLoanAgreementMember" id="glbs_FirmentShippingIncLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirmentShippingIncMember" id="glbs_FirmentShippingIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankLoanAgreementMember" id="glbs_CommerzbankLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirmentTradingLimitedLoanAgreementMember" id="glbs_FirmentTradingLimitedLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SilanerInvestmentsLimitedLoanAgreementMember" id="glbs_SilanerInvestmentsLimitedLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="BorrowingsNumberOfPeriodicPayments" id="glbs_BorrowingsNumberOfPeriodicPayments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" id="glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="BorrowingsPeriodicPayment" id="glbs_BorrowingsPeriodicPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="BorrowingsFrequencyOfPeriodicPayment" id="glbs_BorrowingsFrequencyOfPeriodicPayment" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="AmountDeferredToTheBalloonPayment" id="glbs_AmountDeferredToTheBalloonPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" id="glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="CompensatingBalanceAmountPerVessel" id="glbs_CompensatingBalanceAmountPerVessel" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="CompensatingBalanceAmount" id="glbs_CompensatingBalanceAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="BackEndFeePercentage" id="glbs_BackEndFeePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LiquidityToConsolidatedIndebtednessRatio" id="glbs_LiquidityToConsolidatedIndebtednessRatio" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="MarketAdjustedNetWorth" id="glbs_MarketAdjustedNetWorth" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" id="glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" id="glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" id="glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="MinimumLiquidAssets" id="glbs_MinimumLiquidAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="AmountOfEquityToBeRaised" id="glbs_AmountOfEquityToBeRaised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="BorrowingsFaceAmount" id="glbs_BorrowingsFaceAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="ManagementDailyFee" id="glbs_ManagementDailyFee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="MarketAdjustedNetWorthToTotalAssetsRatio" id="glbs_MarketAdjustedNetWorthToTotalAssetsRatio" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="CreditSuisseAGLoanAgreementMember" id="glbs_CreditSuisseAGLoanAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TrancheCMember" id="glbs_TrancheCMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CreditFacilityMember" id="glbs_CreditFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TrancheBMember" id="glbs_TrancheBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TrancheAMember" id="glbs_TrancheAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TrancheAAndTrancheBMember" id="glbs_TrancheAAndTrancheBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CreditFacilityAxis" id="glbs_CreditFacilityAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="KeltyMarineLimitedMember" id="glbs_KeltyMarineLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselOwningSubsidiariesMember" id="glbs_VesselOwningSubsidiariesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfOrdinarySharesMember" id="glbs_NumberOfOrdinarySharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherVoyageExpense" id="glbs_OtherVoyageExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="StoresExpense" id="glbs_StoresExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="PersonnelExpense" id="glbs_PersonnelExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="StationeryExpense" id="glbs_StationeryExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DividendsPayableLineItems" id="glbs_DividendsPayableLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="AmortizationOfDebtDiscount" id="glbs_AmortizationOfDebtDiscount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="FirstPreferredDividendMember" id="glbs_FirstPreferredDividendMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SecondPreferredDividendMember" id="glbs_SecondPreferredDividendMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DividendsMember" id="glbs_DividendsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DividendsAxis" id="glbs_DividendsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DividendsPayableTable" id="glbs_DividendsPayableTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DividendsPayableDateDeclaredDayMonthAndYear" id="glbs_DividendsPayableDateDeclaredDayMonthAndYear" type="xbrli:dateItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DividendPayableDateToBePaidDayMonthAndYear" id="glbs_DividendPayableDateToBePaidDayMonthAndYear" type="xbrli:dateItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="JanuaryToJune2018Member" id="glbs_JanuaryToJune2018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="AfterJune2018Member" id="glbs_AfterJune2018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ActualAmountMember" id="glbs_ActualAmountMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IncreaseInInterestRates" id="glbs_IncreaseInInterestRates" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DecreaseInInterestRates" id="glbs_DecreaseInInterestRates" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" id="glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" id="glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="IncreaseInExchangeRates" id="glbs_IncreaseInExchangeRates" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DecreaseInExchangeRates" id="glbs_DecreaseInExchangeRates" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="MajorChartererMember" id="glbs_MajorChartererMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MajorChartererBMember" id="glbs_MajorChartererBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherMajorCharterersMember" id="glbs_OtherMajorCharterersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MajorChartererDMember" id="glbs_MajorChartererDMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MajorChartererEMember" id="glbs_MajorChartererEMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MajorChartererCMember" id="glbs_MajorChartererCMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PropertyPlantAndEquipmentFairValueAdjustment" id="glbs_PropertyPlantAndEquipmentFairValueAdjustment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" id="glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="AdjustedBookCapiltaisationPlusNetDebt" id="glbs_AdjustedBookCapiltaisationPlusNetDebt" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="AdjustedBookCapitalisation" id="glbs_AdjustedBookCapitalisation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="BorrowingsPercentageBearingFixedInterestRate" id="glbs_BorrowingsPercentageBearingFixedInterestRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="GlobusMaritimeLimitedMember" id="glbs_GlobusMaritimeLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DescriptionOfAccountingPolicyForLesseeExplanatory" id="glbs_DescriptionOfAccountingPolicyForLesseeExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DescriptionOfAccountingPolicyForLessorExplanatory" id="glbs_DescriptionOfAccountingPolicyForLessorExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" id="glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ConsultingFeesExpense" id="glbs_ConsultingFeesExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" id="glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" id="glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" id="glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="February2017PrivatePlacementMember" id="glbs_February2017PrivatePlacementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="February2017PrivatePlacementIIMember" id="glbs_February2017PrivatePlacementIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="February2017WarrantsMember" id="glbs_February2017WarrantsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ProceedsFromWarrantExercises" id="glbs_ProceedsFromWarrantExercises" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="WarrantsExpense" id="glbs_WarrantsExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="NumberOfSharesSold" id="glbs_NumberOfSharesSold" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="October2017PrivatePlacementMember" id="glbs_October2017PrivatePlacementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="October2017PrivatePlacementAfterReverseStockSplitsMember" id="glbs_October2017PrivatePlacementAfterReverseStockSplitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LaterThanTwoYearsMember" id="glbs_LaterThanTwoYearsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfCashAndBankBalancesExplanatory" id="glbs_DisclosureOfCashAndBankBalancesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfCompensationOfNonExecutiveDirectors" id="glbs_DisclosureOfCompensationOfNonExecutiveDirectors" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfCompensationOfExecutiveDirector" id="glbs_DisclosureOfCompensationOfExecutiveDirector" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" id="glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" id="glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" id="glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" id="glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" id="glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfCommonSharesExplanatory" id="glbs_DisclosureOfCommonSharesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfPreferredSharesExplanatory" id="glbs_DisclosureOfPreferredSharesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfEarningsPerShareTableExplanatory" id="glbs_DisclosureOfEarningsPerShareTableExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" id="glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfLongTermDebtAnnualPrincipalPayments" id="glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfShareBasedPayment" id="glbs_DisclosureOfShareBasedPayment" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfVoyageAndVesselOperatingExpenses" id="glbs_DisclosureOfVoyageAndVesselOperatingExpenses" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfAdministrativeExpenses" id="glbs_DisclosureOfAdministrativeExpenses" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" id="glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfDividends" id="glbs_DisclosureOfDividends" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" id="glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfFutureMinimumLeasePaymentsExplanatory" id="glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfInterestRateRiskExplanatory" id="glbs_DisclosureOfInterestRateRiskExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfForeignCurrencyRiskExplanatory" id="glbs_DisclosureOfForeignCurrencyRiskExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfConcentrationOfCreditRiskExplanatory" id="glbs_DisclosureOfConcentrationOfCreditRiskExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfLiquidityRisksExplanatory" id="glbs_DisclosureOfLiquidityRisksExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfCapitalManagementExplanatory" id="glbs_DisclosureOfCapitalManagementExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DisclosureOfFairValuesExplanatory" id="glbs_DisclosureOfFairValuesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="AdvanceAMember" id="glbs_AdvanceAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="AdvanceBMember" id="glbs_AdvanceBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MacquarieBankAndHamburgCommercialBankAGMember" id="glbs_MacquarieBankAndHamburgCommercialBankAGMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MonthlyDepreciationRightofuseAssets" id="glbs_MonthlyDepreciationRightofuseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="IFRS16LeasesMember" id="glbs_IFRS16LeasesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LeaseComponentMember" id="glbs_LeaseComponentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NonLeaseComponentMember" id="glbs_NonLeaseComponentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="UnrealizedCashAndCashEquivalents" id="glbs_UnrealizedCashAndCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="ArtfulAdvanceMember" id="glbs_ArtfulAdvanceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LongevityAdvanceMember" id="glbs_LongevityAdvanceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="BorrowingsDefaultInterestRate" id="glbs_BorrowingsDefaultInterestRate" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <element name="TimePeriodConsidered" id="glbs_TimePeriodConsidered" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="OperatingExpense1" id="glbs_OperatingExpense1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DebtInstrumentConvertibleConversionPrice" id="glbs_DebtInstrumentConvertibleConversionPrice" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="DebtInstrumentConvertibleThresholdTradingDays" id="glbs_DebtInstrumentConvertibleThresholdTradingDays" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DebtInstrumentConvertibleConversionMultiplier" id="glbs_DebtInstrumentConvertibleConversionMultiplier" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ConvertibleNoteMember" id="glbs_ConvertibleNoteMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ConvertibleNoteIIMember" id="glbs_ConvertibleNoteIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IntervalBetweenVesselDrydockingSpecialSurvey" id="glbs_IntervalBetweenVesselDrydockingSpecialSurvey" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="CashAndCashEquivalentsMember" id="glbs_CashAndCashEquivalentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherFinanciaLliabilitiesMember" id="glbs_OtherFinanciaLliabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VotingRights" id="glbs_VotingRights" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ThreeVesselsMember" id="glbs_ThreeVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EventOfDefaultMember" id="glbs_EventOfDefaultMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="TradingDaysCovenantMember" id="glbs_TradingDaysCovenantMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ConvertibleNotesRedemptionPricePercentage" id="glbs_ConvertibleNotesRedemptionPricePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="PercentageBelowFloorPrice" id="glbs_PercentageBelowFloorPrice" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="MinimumPossibleConversionPrice" id="glbs_MinimumPossibleConversionPrice" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ChangeInControlMember" id="glbs_ChangeInControlMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DerivativeLifeSignificantUnobservableInputsLiabilities" id="glbs_DerivativeLifeSignificantUnobservableInputsLiabilities" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" id="glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="BlackScholesOptionPricingModelMember" id="glbs_BlackScholesOptionPricingModelMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="NetDebtIncludingEmbeddedDerivative" id="glbs_NetDebtIncludingEmbeddedDerivative" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>glbs-20181231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0228 -->
<!--
Taxonomy Calculation Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 09:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2018 UBmatrix inc., All Rights Reserved
Produced on 2018-01-09 12:04:48
-->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementComprehensiveIncomeLoss"/>
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementOfFinancialPosition"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CashAndCashEquivalentsAndRestrictedCashTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#InventoriesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#PrepaymentsAndOtherAssetsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#AccruedLiabilitiesAndOtherPayablesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShareTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#AdministrativeExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#InterestExpenseAndFinanceCostsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementCashFlows"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesTableDetails"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ComprehensiveIncome" xlink:to="OtherComprehensiveIncome" xlink:title="calculation: ComprehensiveIncome to OtherComprehensiveIncome" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ComprehensiveIncome" xlink:to="ProfitLoss" xlink:title="calculation: ComprehensiveIncome to ProfitLoss" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ProfitLossFromOperatingActivities" xlink:title="ProfitLossFromOperatingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLoss" xlink:to="ProfitLossFromOperatingActivities" xlink:title="calculation: ProfitLoss to ProfitLossFromOperatingActivities" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="DepreciationExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to DepreciationExpense" use="optional" order="3.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfDryDockingCosts" xlink:label="DepreciationOfDryDockingCosts" xlink:title="DepreciationOfDryDockingCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="DepreciationOfDryDockingCosts" xlink:title="calculation: ProfitLossFromOperatingActivities to DepreciationOfDryDockingCosts" use="optional" order="4.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="AmortisationExpense" xlink:title="AmortisationExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="AmortisationExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to AmortisationExpense" use="optional" order="5.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="AdministrativeExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to AdministrativeExpense" use="optional" order="6.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdministrativeExpenseRelatedPartyTransactions" xlink:label="AdministrativeExpenseRelatedPartyTransactions" xlink:title="AdministrativeExpenseRelatedPartyTransactions"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="AdministrativeExpenseRelatedPartyTransactions" xlink:title="calculation: ProfitLossFromOperatingActivities to AdministrativeExpenseRelatedPartyTransactions" use="optional" order="8.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="calculation: ProfitLossFromOperatingActivities to ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" use="optional" order="9.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:label="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="calculation: ProfitLossFromOperatingActivities to GainsLossesRecognisedWhenControlInSubsidiaryIsLost" use="optional" order="10.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="OtherOperatingIncomeExpense" xlink:title="OtherOperatingIncomeExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="OtherOperatingIncomeExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to OtherOperatingIncomeExpense" use="optional" order="11.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="Revenue" xlink:title="Revenue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="Revenue" xlink:title="calculation: ProfitLossFromOperatingActivities to Revenue" use="optional" order="13.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="RevenueFromRenderingOfServices" xlink:title="RevenueFromRenderingOfServices"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Revenue" xlink:to="RevenueFromRenderingOfServices" xlink:title="calculation: Revenue to RevenueFromRenderingOfServices" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Revenue" xlink:to="FeeAndCommissionIncome" xlink:title="calculation: Revenue to FeeAndCommissionIncome" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesExpense" xlink:label="ServicesExpense" xlink:title="ServicesExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="ServicesExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to ServicesExpense" order="2.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="calculation: ProfitLossFromOperatingActivities to DirectorsCompensationSharebasedPayment" order="7.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OperatingExpense1" xlink:label="OperatingExpense" xlink:title="OperatingExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossFromOperatingActivities" xlink:to="OperatingExpense" xlink:title="calculation: ProfitLossFromOperatingActivities to OperatingExpense" order="12.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromInterest" xlink:label="RevenueFromInterest" xlink:title="RevenueFromInterest"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLoss" xlink:to="RevenueFromInterest" xlink:title="calculation: ProfitLoss to RevenueFromInterest" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLoss" xlink:to="FinanceCosts" xlink:title="calculation: ProfitLoss to FinanceCosts" use="optional" order="3.0" weight="-1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLoss" xlink:to="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="calculation: ProfitLoss to GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" use="optional" order="4.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLoss" xlink:to="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="calculation: ProfitLoss to GainsLossesOnChangeInFairValueOfDerivatives" order="5.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="CurrentAssets" xlink:title="CurrentAssets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="CurrentAssets" xlink:title="calculation: Assets to CurrentAssets" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="TradeAndOtherCurrentReceivables" xlink:title="TradeAndOtherCurrentReceivables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAssets" xlink:to="TradeAndOtherCurrentReceivables" xlink:title="calculation: CurrentAssets to TradeAndOtherCurrentReceivables" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="Inventories" xlink:title="Inventories"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAssets" xlink:to="Inventories" xlink:title="calculation: CurrentAssets to Inventories" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="CurrentPrepaymentsAndOtherCurrentAssets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAssets" xlink:to="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="calculation: CurrentAssets to CurrentPrepaymentsAndOtherCurrentAssets" use="optional" order="3.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAssets" xlink:to="RestrictedCashAndCashEquivalents" xlink:title="calculation: CurrentAssets to RestrictedCashAndCashEquivalents" use="optional" order="4.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAssets" xlink:to="CashAndCashEquivalents" xlink:title="calculation: CurrentAssets to CashAndCashEquivalents" use="optional" order="5.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="NoncurrentAssets" xlink:title="NoncurrentAssets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="NoncurrentAssets" xlink:title="calculation: Assets to NoncurrentAssets" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentAssets" xlink:to="Ships" xlink:title="calculation: NoncurrentAssets to Ships" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OfficeEquipment" xlink:label="OfficeEquipment" xlink:title="OfficeEquipment"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentAssets" xlink:to="OfficeEquipment" xlink:title="calculation: NoncurrentAssets to OfficeEquipment" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="OtherNoncurrentAssets" xlink:title="OtherNoncurrentAssets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentAssets" xlink:to="OtherNoncurrentAssets" xlink:title="calculation: NoncurrentAssets to OtherNoncurrentAssets" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="EquityAndLiabilities" xlink:to="Liabilities" xlink:title="calculation: EquityAndLiabilities to Liabilities" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="CurrentLiabilities" xlink:title="CurrentLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="CurrentLiabilities" xlink:title="calculation: Liabilities to CurrentLiabilities" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentLiabilities" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="calculation: CurrentLiabilities to CurrentPortionOfLongtermBorrowings" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentLiabilities" xlink:to="TradeAndOtherCurrentPayables" xlink:title="calculation: CurrentLiabilities to TradeAndOtherCurrentPayables" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentLiabilities" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="calculation: CurrentLiabilities to CurrentAccruedExpensesAndOtherCurrentLiabilities" use="optional" order="3.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncome" xlink:label="DeferredIncome" xlink:title="DeferredIncome"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentLiabilities" xlink:to="DeferredIncome" xlink:title="calculation: CurrentLiabilities to DeferredIncome" use="optional" order="4.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="CurrentDerivativeFinancialLiabilities" xlink:title="CurrentDerivativeFinancialLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentLiabilities" xlink:to="CurrentDerivativeFinancialLiabilities" xlink:title="calculation: CurrentLiabilities to CurrentDerivativeFinancialLiabilities" order="5.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="NoncurrentLiabilities" xlink:title="NoncurrentLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="NoncurrentLiabilities" xlink:title="calculation: Liabilities to NoncurrentLiabilities" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentLiabilities" xlink:to="LongtermBorrowings" xlink:title="calculation: NoncurrentLiabilities to LongtermBorrowings" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="NoncurrentProvisionsForEmployeeBenefits" xlink:title="NoncurrentProvisionsForEmployeeBenefits"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentLiabilities" xlink:to="NoncurrentProvisionsForEmployeeBenefits" xlink:title="calculation: NoncurrentLiabilities to NoncurrentProvisionsForEmployeeBenefits" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NoncurrentLiabilities" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="calculation: NoncurrentLiabilities to NoncurrentDerivativeFinancialLiabilities" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="EquityAndLiabilities" xlink:to="Equity" xlink:title="calculation: EquityAndLiabilities to Equity" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Equity" xlink:to="IssuedCapital" xlink:title="calculation: Equity to IssuedCapital" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremium" xlink:label="SharePremium" xlink:title="SharePremium"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Equity" xlink:to="SharePremium" xlink:title="calculation: Equity to SharePremium" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="RetainedEarnings" xlink:title="RetainedEarnings"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Equity" xlink:to="RetainedEarnings" xlink:title="calculation: Equity to RetainedEarnings" use="optional" order="3.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashOnHand" xlink:label="CashOnHand" xlink:title="CashOnHand"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashAndCashEquivalents" xlink:to="CashOnHand" xlink:title="calculation: CashAndCashEquivalents to CashOnHand" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BalancesWithBanks" xlink:label="BalancesWithBanks" xlink:title="BalancesWithBanks"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashAndCashEquivalents" xlink:to="BalancesWithBanks" xlink:title="calculation: CashAndCashEquivalents to BalancesWithBanks" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="ShorttermDepositsClassifiedAsCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashAndCashEquivalents" xlink:to="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="calculation: CashAndCashEquivalents to ShorttermDepositsClassifiedAsCashEquivalents" use="optional" order="3.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="DepreciationPropertyPlantAndEquipment" xlink:title="DepreciationPropertyPlantAndEquipment"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DepreciationExpense" xlink:to="DepreciationPropertyPlantAndEquipment" xlink:title="calculation: DepreciationExpense to DepreciationPropertyPlantAndEquipment" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfficeFurnitureAndEquipment" xlink:label="DepreciationOfficeFurnitureAndEquipment" xlink:title="DepreciationOfficeFurnitureAndEquipment"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DepreciationExpense" xlink:to="DepreciationOfficeFurnitureAndEquipment" xlink:title="calculation: DepreciationExpense to DepreciationOfficeFurnitureAndEquipment" use="optional" order="2.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="Inventories" xlink:title="Inventories"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BunkerInventoryCurrent" xlink:label="BunkerInventoryCurrent" xlink:title="BunkerInventoryCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Inventories" xlink:to="BunkerInventoryCurrent" xlink:title="calculation: Inventories to BunkerInventoryCurrent" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LubricantsInventoryCurrent" xlink:label="LubricantsInventoryCurrent" xlink:title="LubricantsInventoryCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Inventories" xlink:to="LubricantsInventoryCurrent" xlink:title="calculation: Inventories to LubricantsInventoryCurrent" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GasCylindersInventoryCurrent" xlink:label="GasCylindersInventoryCurrent" xlink:title="GasCylindersInventoryCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Inventories" xlink:to="GasCylindersInventoryCurrent" xlink:title="calculation: Inventories to GasCylindersInventoryCurrent" use="optional" order="3.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="CurrentPrepaymentsAndOtherCurrentAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestReceivable" xlink:label="CurrentInterestReceivable" xlink:title="CurrentInterestReceivable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="CurrentInterestReceivable" xlink:title="calculation: CurrentPrepaymentsAndOtherCurrentAssets to CurrentInterestReceivable" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAdvancesToSuppliers" xlink:label="CurrentAdvancesToSuppliers" xlink:title="CurrentAdvancesToSuppliers"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="CurrentAdvancesToSuppliers" xlink:title="calculation: CurrentPrepaymentsAndOtherCurrentAssets to CurrentAdvancesToSuppliers" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepayments" xlink:label="CurrentPrepayments" xlink:title="CurrentPrepayments"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="CurrentPrepayments" xlink:title="calculation: CurrentPrepaymentsAndOtherCurrentAssets to CurrentPrepayments" use="optional" order="3.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestPayable" xlink:label="CurrentInterestPayable" xlink:title="CurrentInterestPayable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="CurrentInterestPayable" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to CurrentInterestPayable" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedAuditFeesCurrent" xlink:label="AccruedAuditFeesCurrent" xlink:title="AccruedAuditFeesCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="AccruedAuditFeesCurrent" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to AccruedAuditFeesCurrent" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherAccruals" xlink:label="OtherAccruals" xlink:title="OtherAccruals"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="OtherAccruals" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to OtherAccruals" use="optional" order="3.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentInsuranceDeductibles" xlink:label="CurrentInsuranceDeductibles" xlink:title="CurrentInsuranceDeductibles"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="CurrentInsuranceDeductibles" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to CurrentInsuranceDeductibles" use="optional" order="4.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDividendPayables" xlink:label="CurrentDividendPayables" xlink:title="CurrentDividendPayables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="CurrentDividendPayables" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to CurrentDividendPayables" use="optional" order="5.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentPayables" xlink:label="OtherCurrentPayables" xlink:title="OtherCurrentPayables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="OtherCurrentPayables" xlink:title="calculation: CurrentAccruedExpensesAndOtherCurrentLiabilities to OtherCurrentPayables" use="optional" order="6.0" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:label="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:to="DividendsPaid" xlink:title="calculation: ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity to DividendsPaid" use="optional" order="2.0" weight="-1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesExpense" xlink:label="ServicesExpense" xlink:title="ServicesExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionExpense" xlink:label="FeeAndCommissionExpense" xlink:title="FeeAndCommissionExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ServicesExpense" xlink:to="FeeAndCommissionExpense" xlink:title="calculation: ServicesExpense to FeeAndCommissionExpense" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FuelExpense" xlink:label="FuelExpense" xlink:title="FuelExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ServicesExpense" xlink:to="FuelExpense" xlink:title="calculation: ServicesExpense to FuelExpense" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherVoyageExpense" xlink:label="OtherVoyageExpense" xlink:title="OtherVoyageExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ServicesExpense" xlink:to="OtherVoyageExpense" xlink:title="calculation: ServicesExpense to OtherVoyageExpense" order="3.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OperatingExpense1" xlink:label="OperatingExpense_2" xlink:title="OperatingExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceExpense" xlink:label="InsuranceExpense" xlink:title="InsuranceExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="InsuranceExpense" xlink:title="calculation: OperatingExpense to InsuranceExpense" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepairsAndMaintenanceExpense" xlink:label="RepairsAndMaintenanceExpense" xlink:title="RepairsAndMaintenanceExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="RepairsAndMaintenanceExpense" xlink:title="calculation: OperatingExpense to RepairsAndMaintenanceExpense" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="RawMaterialsAndConsumablesUsed" xlink:title="RawMaterialsAndConsumablesUsed"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="RawMaterialsAndConsumablesUsed" xlink:title="calculation: OperatingExpense to RawMaterialsAndConsumablesUsed" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StoresExpense" xlink:label="StoresExpense" xlink:title="StoresExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="StoresExpense" xlink:title="calculation: OperatingExpense to StoresExpense" order="4.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="MiscellaneousOtherOperatingExpense" xlink:title="MiscellaneousOtherOperatingExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="MiscellaneousOtherOperatingExpense" xlink:title="calculation: OperatingExpense to MiscellaneousOtherOperatingExpense" order="5.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WagesAndSalaries" xlink:label="WagesAndSalaries" xlink:title="WagesAndSalaries"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingExpense_2" xlink:to="WagesAndSalaries" xlink:title="calculation: OperatingExpense to WagesAndSalaries" order="6.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PersonnelExpense" xlink:label="PersonnelExpense" xlink:title="PersonnelExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="PersonnelExpense" xlink:title="calculation: AdministrativeExpense to PersonnelExpense" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AuditorsRemuneration" xlink:label="AuditorsRemuneration" xlink:title="AuditorsRemuneration"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="AuditorsRemuneration" xlink:title="calculation: AdministrativeExpense to AuditorsRemuneration" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TravelExpense" xlink:label="TravelExpense" xlink:title="TravelExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="TravelExpense" xlink:title="calculation: AdministrativeExpense to TravelExpense" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CommunicationExpense" xlink:label="CommunicationExpense" xlink:title="CommunicationExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="CommunicationExpense" xlink:title="calculation: AdministrativeExpense to CommunicationExpense" order="4.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StationeryExpense" xlink:label="StationeryExpense" xlink:title="StationeryExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="StationeryExpense" xlink:title="calculation: AdministrativeExpense to StationeryExpense" order="5.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="TaxExpenseOtherThanIncomeTaxExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="calculation: AdministrativeExpense to TaxExpenseOtherThanIncomeTaxExpense" order="6.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="OtherExpenseByNature" xlink:title="OtherExpenseByNature"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="OtherExpenseByNature" xlink:title="calculation: AdministrativeExpense to OtherExpenseByNature" order="7.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConsultingFeesExpense" xlink:label="ConsultingFeesExpense" xlink:title="ConsultingFeesExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdministrativeExpense" xlink:to="ConsultingFeesExpense" xlink:title="calculation: AdministrativeExpense to ConsultingFeesExpense" order="8.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinanceCosts" xlink:to="InterestExpense" xlink:title="calculation: FinanceCosts to InterestExpense" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BankAndSimilarCharges" xlink:label="BankAndSimilarCharges" xlink:title="BankAndSimilarCharges"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinanceCosts" xlink:to="BankAndSimilarCharges" xlink:title="calculation: FinanceCosts to BankAndSimilarCharges" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmortizationOfDebtDiscount" xlink:label="AmortizationOfDebtDiscount" xlink:title="AmortizationOfDebtDiscount"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinanceCosts" xlink:to="AmortizationOfDebtDiscount" xlink:title="calculation: FinanceCosts to AmortizationOfDebtDiscount" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinanceCost" xlink:label="OtherFinanceCost" xlink:title="OtherFinanceCost"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinanceCosts" xlink:to="OtherFinanceCost" xlink:title="calculation: FinanceCosts to OtherFinanceCost" order="4.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="CashFlowsFromUsedInOperatingActivities" xlink:title="calculation: IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to CashFlowsFromUsedInOperatingActivities" use="optional" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="ProfitLoss" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to ProfitLoss" use="optional" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDepreciationExpense" xlink:label="AdjustmentsForDepreciationExpense" xlink:title="AdjustmentsForDepreciationExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForDepreciationExpense" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForDepreciationExpense" use="optional" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:label="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" use="optional" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="AdjustmentsForAmortisationExpense" xlink:title="AdjustmentsForAmortisationExpense"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForAmortisationExpense" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForAmortisationExpense" use="optional" order="4.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PaymentsOfDeferredDryDockingCosts" xlink:label="PaymentsOfDeferredDryDockingCosts" xlink:title="PaymentsOfDeferredDryDockingCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="PaymentsOfDeferredDryDockingCosts" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to PaymentsOfDeferredDryDockingCosts" use="optional" order="5.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" use="optional" order="6.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" use="optional" order="7.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="AdjustmentsForProvisions" xlink:title="AdjustmentsForProvisions"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForProvisions" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForProvisions" use="optional" order="8.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForFinanceCosts" xlink:label="AdjustmentsForFinanceCosts" xlink:title="AdjustmentsForFinanceCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForFinanceCosts" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForFinanceCosts" use="optional" order="9.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="AdjustmentsForInterestIncome" xlink:title="AdjustmentsForInterestIncome"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForInterestIncome" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForInterestIncome" use="optional" order="10.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForUnrealisedForeignExchangeLossesGains" use="optional" order="11.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="AdjustmentsForSharebasedPayments" xlink:title="AdjustmentsForSharebasedPayments"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForSharebasedPayments" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForSharebasedPayments" use="optional" order="12.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" use="optional" order="13.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="AdjustmentsForDecreaseIncreaseInInventories"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForDecreaseIncreaseInInventories" use="optional" order="14.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:label="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForDecreaseIncreaseInOtherAssets" use="optional" order="15.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForIncreaseDecreaseInTradeAccountPayable" use="optional" order="16.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:label="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForIncreaseDecreaseInDeferredRevenue" use="optional" order="17.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:label="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" use="optional" order="18.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:label="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="calculation: CashFlowsFromUsedInOperatingActivities to AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" order="19.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="CashFlowsFromUsedInInvestingActivities" xlink:title="calculation: IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to CashFlowsFromUsedInInvestingActivities" use="optional" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="calculation: CashFlowsFromUsedInInvestingActivities to CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" use="optional" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="calculation: CashFlowsFromUsedInInvestingActivities to PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" use="optional" order="2.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="InterestReceivedClassifiedAsInvestingActivities" xlink:title="InterestReceivedClassifiedAsInvestingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="InterestReceivedClassifiedAsInvestingActivities" xlink:title="calculation: CashFlowsFromUsedInInvestingActivities to InterestReceivedClassifiedAsInvestingActivities" use="optional" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="calculation: CashFlowsFromUsedInInvestingActivities to PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" order="4.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="CashFlowsFromUsedInFinancingActivities" xlink:title="calculation: IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to CashFlowsFromUsedInFinancingActivities" use="optional" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to ProceedsFromBorrowingsClassifiedAsFinancingActivities" use="optional" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="2.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="ProceedsFromIssuingShares" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to ProceedsFromIssuingShares" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" use="optional" order="4.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="DividendsPaidClassifiedAsFinancingActivities" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to DividendsPaidClassifiedAsFinancingActivities" use="optional" order="5.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="InterestPaidClassifiedAsFinancingActivities" xlink:title="InterestPaidClassifiedAsFinancingActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="InterestPaidClassifiedAsFinancingActivities" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to InterestPaidClassifiedAsFinancingActivities" use="optional" order="6.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsForDebtIssueCosts" xlink:label="PaymentsForDebtIssueCosts" xlink:title="PaymentsForDebtIssueCosts"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="PaymentsForDebtIssueCosts" xlink:title="calculation: CashFlowsFromUsedInFinancingActivities to PaymentsForDebtIssueCosts" order="7.0" weight="-1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails">
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapiltaisationPlusNetDebt" xlink:label="AdjustedBookCapiltaisationPlusNetDebt" xlink:title="AdjustedBookCapiltaisationPlusNetDebt"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapitalisation" xlink:label="AdjustedBookCapitalisation" xlink:title="AdjustedBookCapitalisation"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="AdjustedBookCapitalisation" xlink:title="calculation: AdjustedBookCapiltaisationPlusNetDebt to AdjustedBookCapitalisation" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdjustedBookCapitalisation" xlink:to="Equity" xlink:title="calculation: AdjustedBookCapitalisation to Equity" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PropertyPlantAndEquipmentFairValueAdjustment" xlink:label="PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="PropertyPlantAndEquipmentFairValueAdjustment"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdjustedBookCapitalisation" xlink:to="PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="calculation: AdjustedBookCapitalisation to PropertyPlantAndEquipmentFairValueAdjustment" order="2.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtIncludingEmbeddedDerivative" xlink:label="NetDebtIncludingEmbeddedDerivative" xlink:title="NetDebtIncludingEmbeddedDerivative"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="NetDebtIncludingEmbeddedDerivative" xlink:title="calculation: AdjustedBookCapiltaisationPlusNetDebt to NetDebtIncludingEmbeddedDerivative" order="3.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetDebtIncludingEmbeddedDerivative" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="calculation: NetDebtIncludingEmbeddedDerivative to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" order="2.0" weight="-1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleDebtIncludingEmbeddedDerivative" xlink:label="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="ConvertibleDebtIncludingEmbeddedDerivative"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetDebtIncludingEmbeddedDerivative" xlink:to="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="calculation: NetDebtIncludingEmbeddedDerivative to ConvertibleDebtIncludingEmbeddedDerivative" order="3.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="NoncurrentFinancialLiabilities" xlink:title="NoncurrentFinancialLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinancialLiabilities" xlink:to="NoncurrentFinancialLiabilities" xlink:title="calculation: FinancialLiabilities to NoncurrentFinancialLiabilities" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinancialLiabilities" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="calculation: FinancialLiabilities to CurrentAccruedExpensesAndOtherCurrentLiabilities" order="2.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="FinancialLiabilities" xlink:to="TradeAndOtherCurrentPayables" xlink:title="calculation: FinancialLiabilities to TradeAndOtherCurrentPayables" order="3.0" weight="1.0"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails">
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="BorrowingsGross" xlink:to="Borrowings" xlink:title="calculation: BorrowingsGross to Borrowings" order="1.0" weight="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentUnamortisedDiscount" xlink:label="DebtInstrumentUnamortisedDiscount" xlink:title="DebtInstrumentUnamortisedDiscount"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="BorrowingsGross" xlink:to="DebtInstrumentUnamortisedDiscount" xlink:title="calculation: BorrowingsGross to DebtInstrumentUnamortisedDiscount" order="2.0" weight="-1.0"/>
  </calculationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>10
<FILENAME>glbs-20181231_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0228 -->
<!--
Taxonomy Definition Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 09:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2018 UBmatrix inc., All Rights Reserved
Produced on 2018-01-09 12:04:48
-->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd http://xbrl.org/2005/xbrldt http://www.xbrl.org/2005/xbrldt-2005.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementChangesInEquity"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationAndGeneralInformationTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationAndGeneralInformationDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumCommonSharesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumPreferredSharesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShareTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetImpairmentTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShareDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsFutureMinimumPaymentsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsFutureMinimumReceivablesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DividendsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#DividendsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPaymentDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPaymentTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetDVBLoanAgreementDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetDevoceanDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetKeltyLoanAgreementDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetKeltyLoanAgreementDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FairValueMeasurementsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DividendsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#DividendsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#SubsequentEventsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesTableDetails"/>
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all"/>
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension"/>
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain"/>
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member"/>
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default"/>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="StatementOfChangesInEquityLineItems" xlink:title="StatementOfChangesInEquityLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="StatementOfChangesInEquityTable" xlink:title="StatementOfChangesInEquityTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="StatementOfChangesInEquityTable" xlink:title="definition: StatementOfChangesInEquityLineItems to StatementOfChangesInEquityTable" use="optional" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementOfChangesInEquityTable" xlink:to="ComponentsOfEquityAxis" xlink:title="definition: StatementOfChangesInEquityTable to ComponentsOfEquityAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ComponentsOfEquityAxis" xlink:to="EquityMember" xlink:title="definition: ComponentsOfEquityAxis to EquityMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="EquityAttributableToOwnersOfParentMember" xlink:title="EquityAttributableToOwnersOfParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityMember" xlink:to="EquityAttributableToOwnersOfParentMember" xlink:title="definition: EquityMember to EquityAttributableToOwnersOfParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="RetainedEarningsMember" xlink:title="definition: EquityAttributableToOwnersOfParentMember to RetainedEarningsMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="IssuedCapitalMember" xlink:title="definition: EquityAttributableToOwnersOfParentMember to IssuedCapitalMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="SharePremiumMember" xlink:title="definition: EquityAttributableToOwnersOfParentMember to SharePremiumMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="Equity" xlink:title="definition: StatementOfChangesInEquityLineItems to Equity" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="ProfitLoss" xlink:title="definition: StatementOfChangesInEquityLineItems to ProfitLoss" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="OtherComprehensiveIncome" xlink:title="definition: StatementOfChangesInEquityLineItems to OtherComprehensiveIncome" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="ComprehensiveIncome" xlink:title="definition: StatementOfChangesInEquityLineItems to ComprehensiveIncome" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="definition: StatementOfChangesInEquityLineItems to IncreaseDecreaseThroughSharebasedPaymentTransactions" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="DividendsPaid" xlink:title="definition: StatementOfChangesInEquityLineItems to DividendsPaid" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="definition: StatementOfChangesInEquityLineItems to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IssueOfEquity" xlink:title="definition: StatementOfChangesInEquityLineItems to IssueOfEquity" order="9.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ComponentsOfEquityAxis" xlink:to="EquityMember" xlink:title="definition: ComponentsOfEquityAxis to EquityMember" use="optional" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ComponentsOfEquityAxis" xlink:to="EquityMember" xlink:title="definition: ComponentsOfEquityAxis to EquityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityMember" xlink:to="SharePremiumMember" xlink:title="definition: EquityMember to SharePremiumMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssued" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to IncreaseDecreaseThroughSharebasedPaymentTransactions" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ComponentsOfEquityAxis" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ComponentsOfEquityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to CategoriesOfRelatedPartiesAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ClassesOfShareCapitalAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOrdinarySharesMember" xlink:label="NumberOfOrdinarySharesMember" xlink:title="NumberOfOrdinarySharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="NumberOfOrdinarySharesMember" xlink:title="definition: ClassesOfShareCapitalMember to NumberOfOrdinarySharesMember" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to CategoriesOfRelatedPartiesAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ClassesOfShareCapitalAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to StockRedeemedDuringPeriodShares" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="definition: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to NumberOfSharesOutstanding" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember_2" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember_2" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="DirectorsRemunerationExpense" xlink:title="DirectorsRemunerationExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsRemunerationExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsRemunerationExpense" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensation" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensation" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsCompensationSharebasedPayment" order="4.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails"/>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExecutiveDirectorsMember" xlink:label="ExecutiveDirectorsMember" xlink:title="ExecutiveDirectorsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ExecutiveDirectorsMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to ExecutiveDirectorsMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CyberonicaSAMember" xlink:label="CyberonicaSAMember" xlink:title="CyberonicaSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="CyberonicaSAMember" xlink:title="definition: RelatedPartiesMember to CyberonicaSAMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="definition: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AffiliatedCompanyOfCompanysCEOMember" xlink:label="AffiliatedCompanyOfCompanysCEOMember" xlink:title="AffiliatedCompanyOfCompanysCEOMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="AffiliatedCompanyOfCompanysCEOMember" xlink:title="definition: OtherRelatedPartiesMember to AffiliatedCompanyOfCompanysCEOMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EolosShipmanagementSAMember" xlink:label="EolosShipmanagementSAMember" xlink:title="EolosShipmanagementSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="EolosShipmanagementSAMember" xlink:title="definition: OtherRelatedPartiesMember to EolosShipmanagementSAMember" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentShippingIncMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementMember" xlink:label="February2017PrivatePlacementMember" xlink:title="February2017PrivatePlacementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacementMember" xlink:title="definition: ClassesOfShareCapitalMember to February2017PrivatePlacementMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="DirectorsRemunerationExpense" xlink:title="DirectorsRemunerationExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsRemunerationExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsRemunerationExpense" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="25.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="3.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to ClassesOfShareCapitalAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to RangeAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesHeldByControllingParty" xlink:label="NumberOfSharesHeldByControllingParty" xlink:title="NumberOfSharesHeldByControllingParty"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="NumberOfSharesHeldByControllingParty" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to NumberOfSharesHeldByControllingParty" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:label="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProportionOfOwnershipInterestsHeldByControllingParty" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyRentalExpense" xlink:label="MonthlyRentalExpense" xlink:title="MonthlyRentalExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="MonthlyRentalExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to MonthlyRentalExpense" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RentalAnnualIncreaseRateAboveInflation" xlink:label="RentalAnnualIncreaseRateAboveInflation" xlink:title="RentalAnnualIncreaseRateAboveInflation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="RentalAnnualIncreaseRateAboveInflation" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to RentalAnnualIncreaseRateAboveInflation" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeasesAsLesseeRelatedPartyTransactions" xlink:label="LeasesAsLesseeRelatedPartyTransactions" xlink:title="LeasesAsLesseeRelatedPartyTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LeasesAsLesseeRelatedPartyTransactions" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LeasesAsLesseeRelatedPartyTransactions" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="AmountsPayableRelatedPartyTransactions" xlink:title="AmountsPayableRelatedPartyTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AmountsPayableRelatedPartyTransactions" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AmountsPayableRelatedPartyTransactions" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:label="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityDrawndownAmountsMultiples" use="optional" order="9.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ShorttermBorrowings" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ShorttermBorrowings" use="optional" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="InterestExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to InterestExpense" use="optional" order="11.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityDecreaseForgiveness" use="optional" order="12.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" use="optional" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to NumberOfSharesCalledByWarrants" use="optional" order="14.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ExercisePriceOfOutstandingWarrants" use="optional" order="15.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="16.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsMaturity" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsMaturity" use="optional" order="17.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsInterestRate" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsInterestRate" use="optional" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DailyConsultingFeeIncome" xlink:label="DailyConsultingFeeIncome" xlink:title="DailyConsultingFeeIncome"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DailyConsultingFeeIncome" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DailyConsultingFeeIncome" use="optional" order="19.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="FeeAndCommissionIncome" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to FeeAndCommissionIncome" use="optional" order="20.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedDirectorsCompensation" xlink:label="AccruedDirectorsCompensation" xlink:title="AccruedDirectorsCompensation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AccruedDirectorsCompensation" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AccruedDirectorsCompensation" use="optional" order="21.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConsultingFeesExpense" xlink:label="ConsultingFeesExpense" xlink:title="ConsultingFeesExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ConsultingFeesExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ConsultingFeesExpense" order="26.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="Borrowings" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to Borrowings" order="27.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ParValuePerShare" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ParValuePerShare" order="28.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProceedsFromIssuingShares" order="29.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="30.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsDefaultInterestRate" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsDefaultInterestRate" order="31.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleConversionPrice" order="32.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="33.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleConversionMultiplier" order="34.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to UndrawnBorrowingFacilities" use="optional" order="35.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExecutiveDirectorsMember" xlink:label="ExecutiveDirectorsMember" xlink:title="ExecutiveDirectorsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ExecutiveDirectorsMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to ExecutiveDirectorsMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensation" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensation" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsCompensationSharebasedPayment" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensationShorttermEmployeeBenefits" use="optional" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="SubsidiariesMember" xlink:title="definition: RelatedPartiesMember to SubsidiariesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:label="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SubsidiariesMember" xlink:to="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="definition: SubsidiariesMember to DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:label="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="ArtfulShipholdingSALongevityMaritimeLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SubsidiariesMember" xlink:to="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="definition: SubsidiariesMember to ArtfulShipholdingSALongevityMaritimeLimitedMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusMaritimeLtdMember" xlink:label="GlobusMaritimeLtdMember" xlink:title="GlobusMaritimeLtdMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SubsidiariesMember" xlink:to="GlobusMaritimeLtdMember" xlink:title="definition: SubsidiariesMember to GlobusMaritimeLtdMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DisclosureOfDetailedInformationAboutBorrowingsTable" use="optional" order="10.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsGross" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsGross" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentUnamortisedDiscount" xlink:label="DebtInstrumentUnamortisedDiscount" xlink:title="DebtInstrumentUnamortisedDiscount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentUnamortisedDiscount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentUnamortisedDiscount" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfLongTermBorrowingsGross" xlink:label="CurrentPortionOfLongTermBorrowingsGross" xlink:title="CurrentPortionOfLongTermBorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongTermBorrowingsGross" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongTermBorrowingsGross" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermBorrowingsGross" xlink:label="LongTermBorrowingsGross" xlink:title="LongTermBorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongTermBorrowingsGross" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongTermBorrowingsGross" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:label="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfDebtInstrumentUnamortisedDiscount" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermDebtInstrumentUnamortisedDiscount" xlink:label="LongTermDebtInstrumentUnamortisedDiscount" xlink:title="LongTermDebtInstrumentUnamortisedDiscount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongTermDebtInstrumentUnamortisedDiscount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongTermDebtInstrumentUnamortisedDiscount" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongtermBorrowings" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongtermBorrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongtermBorrowings" use="optional" order="9.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="definition: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentShippingIncMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementIIMember" xlink:label="February2017PrivatePlacementIIMember" xlink:title="February2017PrivatePlacementIIMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacementIIMember" xlink:title="definition: ClassesOfShareCapitalMember to February2017PrivatePlacementIIMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="definition: RangesMember to WeightedAverageMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" order="41.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DisclosureOfDetailedInformationAboutBorrowingsTable" order="29.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CategoriesOfRelatedPartiesAxis" order="2.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="1.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to ClassesOfShareCapitalAxis" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongtermBorrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongtermBorrowings" use="optional" order="38.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="11.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFaceAmount" xlink:label="BorrowingsFaceAmount" xlink:title="BorrowingsFaceAmount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFaceAmount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFaceAmount" order="16.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPayable" xlink:label="InterestPayable" xlink:title="InterestPayable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="InterestPayable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to InterestPayable" order="17.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ManagementDailyFee" xlink:label="ManagementDailyFee" xlink:title="ManagementDailyFee"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ManagementDailyFee" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ManagementDailyFee" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="9.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="10.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="20.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:label="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorthToTotalAssetsRatio" order="19.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="21.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRateBasis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRateBasis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="BorrowingsAdjustmentToInterestRateBasis" xlink:title="BorrowingsAdjustmentToInterestRateBasis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsAdjustmentToInterestRateBasis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsAdjustmentToInterestRateBasis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:label="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LiquidityToConsolidatedIndebtednessRatio" xlink:label="LiquidityToConsolidatedIndebtednessRatio" xlink:title="LiquidityToConsolidatedIndebtednessRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LiquidityToConsolidatedIndebtednessRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LiquidityToConsolidatedIndebtednessRatio" order="14.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountOfEquityToBeRaised" xlink:label="AmountOfEquityToBeRaised" xlink:title="AmountOfEquityToBeRaised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountOfEquityToBeRaised" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountOfEquityToBeRaised" order="15.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountDeferredToTheBalloonPayment" xlink:label="AmountDeferredToTheBalloonPayment" xlink:title="AmountDeferredToTheBalloonPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountDeferredToTheBalloonPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountDeferredToTheBalloonPayment" order="22.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityDecreaseForgiveness" order="23.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ShorttermBorrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ShorttermBorrowings" order="24.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" order="25.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to NumberOfSharesCalledByWarrants" order="26.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ExercisePriceOfOutstandingWarrants" order="27.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRate" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRate" order="28.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:label="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityDrawndownAmountsMultiples" order="30.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to UndrawnBorrowingFacilities" order="31.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" use="optional" order="32.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsDefaultInterestRate" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsDefaultInterestRate" order="33.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to GainsLossesOnChangeInFairValueOfDerivatives" order="34.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleConversionPrice" order="35.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="36.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleConversionMultiplier" order="37.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:label="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProportionOfOwnershipInterestsHeldByControllingParty" use="optional" order="39.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to NoncurrentDerivativeFinancialLiabilities" order="40.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="definition: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="definition: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="definition: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="definition: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementMember" xlink:label="February2017PrivatePlacementMember" xlink:title="February2017PrivatePlacemenntMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacementMember" xlink:title="definition: ClassesOfShareCapitalMember to February2017PrivatePlacementMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017WarrantsMember" xlink:label="February2017WarrantsMember" xlink:title="February2017WarrantsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017WarrantsMember" xlink:title="definition: ClassesOfShareCapitalMember to February2017WarrantsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementMember" xlink:label="October2017PrivatePlacementMember" xlink:title="October2017SPAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017PrivatePlacementMember" xlink:title="definition: ClassesOfShareCapitalMember to October2017PrivatePlacementMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017WarrantsMember" xlink:label="October2017WarrantsMember" xlink:title="October2017WarrantsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017WarrantsMember" xlink:title="definition: ClassesOfShareCapitalMember to October2017WarrantsMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesOutstandingMember" xlink:label="ClassBCommonSharesOutstandingMember" xlink:title="ClassBCommonSharesOutstandingMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="ClassBCommonSharesOutstandingMember" xlink:title="definition: ClassesOfShareCapitalMember to ClassBCommonSharesOutstandingMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementAfterReverseStockSplitsMember" xlink:label="October2017PrivatePlacementAfterReverseSplitsMember" xlink:title="October2017PrivatePlacementAfterReverseSplits"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017PrivatePlacementAfterReverseSplitsMember" xlink:title="definition: ClassesOfShareCapitalMember to October2017PrivatePlacementAfterReverseSplitsMember" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="definition: RangesMember to TopOfRangeMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to DisclosureOfClassesOfShareCapitalTable" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="2.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to RangeAxis" order="3.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to CategoriesOfRelatedPartiesAxis" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremium" xlink:label="SharePremium" xlink:title="SharePremium"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="SharePremium" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to SharePremium" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ParValuePerShare" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ParValuePerShare" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesCalledByWarrants" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:label="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsOutstanding" xlink:label="NumberOfWarrantsOutstanding" xlink:title="WarrantsOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfWarrantsOutstanding" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfWarrantsOutstanding" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsExercised" xlink:label="NumberOfWarrantsExercised" xlink:title="NumberOfWarrantsExercised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfWarrantsExercised" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfWarrantsExercised" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ExercisePriceOfOutstandingWarrants" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesSold" xlink:label="NumberOfSharesSold" xlink:title="NumberOfSharesSold"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesSold" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesSold" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ProceedsFromIssuingShares" order="11.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_WarrantsExpense" xlink:label="WarrantsExpense" xlink:title="WarrantsExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="WarrantsExpense" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to WarrantsExpense" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" order="14.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesOutstanding" use="optional" order="15.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProceedsFromWarrantExercises" xlink:label="ProceedsFromWarrantExercises" xlink:title="ProceedsFromWarrantExercises"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ProceedsFromWarrantExercises" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ProceedsFromWarrantExercises" order="16.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VotingRights" xlink:label="VotingRights" xlink:title="VotingRights"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="VotingRights" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to VotingRights" order="17.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="22.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" order="21.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="Borrowings" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to Borrowings" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to LineOfCreditFacilityDecreaseForgiveness" use="optional" order="19.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="20.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CyberonicaSAMember" xlink:label="CyberonicaSAMember" xlink:title="CyberonicaSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="CyberonicaSAMember" xlink:title="definition: RelatedPartiesMember to CyberonicaSAMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DisclosureOfTransactionsBetweenRelatedPartiesTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyRentalExpense" xlink:label="MonthlyRentalExpense" xlink:title="MonthlyRentalExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="MonthlyRentalExpense" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to MonthlyRentalExpense" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeasesAsLesseeRelatedPartyTransactions" xlink:label="LeasesAsLesseeRelatedPartyTransactions" xlink:title="LeasesAsLesseeRelatedPartyTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LeasesAsLesseeRelatedPartyTransactions" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LeasesAsLesseeRelatedPartyTransactions" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="AverageForeignExchangeRate" xlink:title="AverageForeignExchangeRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AverageForeignExchangeRate" xlink:title="definition: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AverageForeignExchangeRate" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="PreferenceSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to PreferenceSharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="definition: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesMember" xlink:label="ClassBCommonSharesMember" xlink:title="ClassBCommonSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="ClassBCommonSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to ClassBCommonSharesMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to DisclosureOfClassesOfShareCapitalTable" use="optional" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ParValuePerShare" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ParValuePerShare" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesAuthorised" xlink:label="ValueOfSharesAuthorised" xlink:title="ValueOfSharesAuthorised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ValueOfSharesAuthorised" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to ValueOfSharesAuthorised" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="NumberOfSharesAuthorised" xlink:title="NumberOfSharesAuthorised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesAuthorised" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesAuthorised" use="optional" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="definition: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to DisclosureOfClassesOfShareCapitalTable" use="optional" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" order="9.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="NumberOfSharesIssuedAndFullyPaid" xlink:title="NumberOfSharesIssuedAndFullyPaid"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesIssuedAndFullyPaid" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesIssuedAndFullyPaid" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IssuedCapital" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IssuedCapital" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseThroughSharebasedPaymentTransactions" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IssueOfEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IssueOfEquity" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" order="8.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="PreferenceSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to PreferenceSharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PreferenceSharesMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="definition: PreferenceSharesMember to SeriesaPreferredSharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to DisclosureOfClassesOfShareCapitalTable" use="optional" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IssuedCapital" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IssuedCapital" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to StockRedeemedDuringPeriodShares" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="NumberOfSharesIssued" xlink:title="NumberOfSharesIssued"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesIssued" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesIssued" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:label="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfPreferredSharesIssued" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodValue" xlink:label="StockRedeemedDuringPeriodValue" xlink:title="StockRedeemedDuringPeriodValue"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="StockRedeemedDuringPeriodValue" xlink:title="definition: DisclosureOfClassesOfShareCapitalLineItems to StockRedeemedDuringPeriodValue" use="optional" order="6.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="definition: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="EarningsPerShareLineItems" xlink:title="EarningsPerShareLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EarningsPerShareLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="definition: EarningsPerShareLineItems to NumberOfSharesOutstanding" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ReverseStockSplitConversionRatio" xlink:label="ReverseStockSplitConversionRatio" xlink:title="ReverseStockSplitConversionRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EarningsPerShareLineItems" xlink:to="ReverseStockSplitConversionRatio" xlink:title="definition: EarningsPerShareLineItems to ReverseStockSplitConversionRatio" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="EarningsPerShareLineItems" xlink:to="EarningsPerShareTable" xlink:title="definition: EarningsPerShareLineItems to EarningsPerShareTable" use="optional" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="EarningsPerShareTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: EarningsPerShareTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="EarningsPerShareLineItems" xlink:title="EarningsPerShareLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="EarningsPerShareLineItems" xlink:to="EarningsPerShareTable" xlink:title="definition: EarningsPerShareLineItems to EarningsPerShareTable" use="optional" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EarningsPerShareLineItems" xlink:to="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="definition: EarningsPerShareLineItems to DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" order="4.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="definition: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember_2" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember_2" xlink:title="definition: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusShipmanagementCorpMember" xlink:label="GlobusShipmanagementCorpMember" xlink:title="GlobusShipmanagementCorpMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="GlobusShipmanagementCorpMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to GlobusShipmanagementCorpMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdMember" xlink:label="DevoceanMaritimeLtdMember" xlink:title="DevoceanMaritimeLtdMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DevoceanMaritimeLtdMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DevoceanMaritimeLtdMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ElysiumMaritimeLimitedMember" xlink:label="ElysiumMaritimeLimitedMember" xlink:title="ElysiumMaritimeLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="ElysiumMaritimeLimitedMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to ElysiumMaritimeLimitedMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DominaMaritimeLtdMember" xlink:label="DominaMaritimeLtdMember" xlink:title="DominaMaritimeLtdMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DominaMaritimeLtdMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DominaMaritimeLtdMember" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DulacMaritimeSAMember" xlink:label="DulacMaritimeSAMember" xlink:title="DulacMaritimeSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DulacMaritimeSAMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DulacMaritimeSAMember" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSAMember" xlink:label="ArtfulShipholdingSAMember" xlink:title="ArtfulShipholdingSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="ArtfulShipholdingSAMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to ArtfulShipholdingSAMember" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityMaritimeLimitedMember" xlink:label="LongevityMaritimeLimitedMember" xlink:title="LongevityMaritimeLimitedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="LongevityMaritimeLimitedMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to LongevityMaritimeLimitedMember" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="CountryOfIncorporationOrResidenceOfSubsidiary"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="definition: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to CountryOfIncorporationOrResidenceOfSubsidiary" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselDeliveryDate" xlink:label="VesselDeliveryDate" xlink:title="VesselDeliveryDate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="VesselDeliveryDate" xlink:title="definition: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to VesselDeliveryDate" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="NameOfSubsidiary" xlink:title="NameOfSubsidiary"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="NameOfSubsidiary" xlink:title="definition: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to NameOfSubsidiary" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="definition: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to DisclosureOfSignificantInvestmentsInSubsidiariesTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="definition: DisclosureOfSignificantInvestmentsInSubsidiariesTable to SignificantInvestmentsInSubsidiariesAxis" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails"/>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="definition: RangesMember to WeightedAverageMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DisclosureOfDetailedInformationAboutBorrowingsTable" order="15.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="definition: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DVBBankLoanAgreementMember" xlink:label="DVBBankLoanAgreementMember" xlink:title="DVBBankLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="DVBBankLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to DVBBankLoanAgreementMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:label="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to MacquarieBankInternationalLimitedLoanAgreementMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="definition: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="definition: CreditFacilityMember to TrancheAMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="definition: CreditFacilityMember to TrancheBMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheCMember" xlink:label="TrancheCMember" xlink:title="TrancheCMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheCMember" xlink:title="definition: CreditFacilityMember to TrancheCMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAAndTrancheBMember" xlink:label="TrancheAAndTrancheBMember" xlink:title="TrancheAAndTrancheBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheAAndTrancheBMember" xlink:title="definition: CreditFacilityMember to TrancheAAndTrancheBMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulAdvanceMember" xlink:label="ArtfulAdvanceMember" xlink:title="ArtfulAdvanceMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="ArtfulAdvanceMember" xlink:title="definition: CreditFacilityMember to ArtfulAdvanceMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityAdvanceMember" xlink:label="LongevityAdvanceMember" xlink:title="LongevityAdvanceMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="LongevityAdvanceMember" xlink:title="definition: CreditFacilityMember to LongevityAdvanceMember" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to SignificantInvestmentsInSubsidiariesAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="definition: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselOwningSubsidiariesMember" xlink:label="VesselOwningSubsidiariesMember" xlink:title="VesselOwningSubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="VesselOwningSubsidiariesMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to VesselOwningSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CreationDateAxis" xlink:label="CreationDateAxis" xlink:title="CreationDateAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreationDateAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CreationDateAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="DefaultFinancialStatementsDateMember" xlink:title="DefaultFinancialStatementsDateMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CreationDateAxis" xlink:to="DefaultFinancialStatementsDateMember" xlink:title="definition: CreationDateAxis to DefaultFinancialStatementsDateMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="DefaultFinancialStatementsDateMember_2" xlink:title="DefaultFinancialStatementsDateMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CreationDateAxis" xlink:to="DefaultFinancialStatementsDateMember_2" xlink:title="definition: CreationDateAxis to DefaultFinancialStatementsDateMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_JanuaryToJune2018Member" xlink:label="JanuaryToJune2018Member" xlink:title="JanuaryToJune2018Member"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DefaultFinancialStatementsDateMember" xlink:to="JanuaryToJune2018Member" xlink:title="definition: DefaultFinancialStatementsDateMember to JanuaryToJune2018Member" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AfterJune2018Member" xlink:label="AfterJune2018Member" xlink:title="AfterJune2018Member"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DefaultFinancialStatementsDateMember" xlink:to="AfterJune2018Member" xlink:title="definition: DefaultFinancialStatementsDateMember to AfterJune2018Member" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="10.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="24.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="9.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="11.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:label="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorthToTotalAssetsRatio" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="14.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsDefaultInterestRate" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsDefaultInterestRate" order="23.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LoanPrincipalAmountDeferred" xlink:label="LoanPrincipalAmountDeferred" xlink:title="LoanPrincipalAmountDeferred"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LoanPrincipalAmountDeferred" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LoanPrincipalAmountDeferred" order="17.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BackEndFeePercentage" xlink:label="BackEndFeePercentage" xlink:title="BackEndFeePercentage"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BackEndFeePercentage" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BackEndFeePercentage" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" order="20.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" order="22.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember_2" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangesMember_2" xlink:title="definition: RangeAxis to RangesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="definition: RangesMember to WeightedAverageMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="definition: RangesMember to TopOfRangeMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DisclosureOfDetailedInformationAboutBorrowingsTable" order="19.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="definition: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditSuisseAGLoanAgreementMember" xlink:label="CreditSuisseAGLoanAgreementMember" xlink:title="CreditSuisseAGLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="CreditSuisseAGLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to CreditSuisseAGLoanAgreementMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementMember" xlink:label="HamburgCommercialBankAGLoanAgreementMember" xlink:title="HamburgCommercialBankAGLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="definition: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="definition: CreditFacilityMember to TrancheAMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="definition: CreditFacilityMember to TrancheBMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheCMember" xlink:label="TrancheCMember" xlink:title="TrancheCMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheCMember" xlink:title="definition: CreditFacilityMember to TrancheCMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to SignificantInvestmentsInSubsidiariesAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="definition: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdMember" xlink:label="DevoceanMaritimeLtdMember" xlink:title="DevoceanMaritimeLtdMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DevoceanMaritimeLtdMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DevoceanMaritimeLtdMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DominaMaritimeLtdMember" xlink:label="DominaMaritimeLtdMember" xlink:title="DominaMaritimeLtdMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DominaMaritimeLtdMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DominaMaritimeLtdMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DulacMaritimeSAMember" xlink:label="DulacMaritimeSAMember" xlink:title="DulacMaritimeSAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DulacMaritimeSAMember" xlink:title="definition: EntitysTotalForSubsidiariesMember to DulacMaritimeSAMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesAxis" xlink:label="PeriodOfInterestRatesAxis" xlink:title="PeriodOfInterestRatesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="PeriodOfInterestRatesAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to PeriodOfInterestRatesAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesMember" xlink:label="PeriodOfInterestRatesMember" xlink:title="PeriodOfInterestRatesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="PeriodOfInterestRatesAxis" xlink:to="PeriodOfInterestRatesMember" xlink:title="definition: PeriodOfInterestRatesAxis to PeriodOfInterestRatesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesMember" xlink:label="PeriodOfInterestRatesMember_2" xlink:title="PeriodOfInterestRatesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="PeriodOfInterestRatesAxis" xlink:to="PeriodOfInterestRatesMember_2" xlink:title="definition: PeriodOfInterestRatesAxis to PeriodOfInterestRatesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodThreeMonthsMember" xlink:label="InterestPeriodThreeMonthsMember" xlink:title="InterestPeriodThreeMonthsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PeriodOfInterestRatesMember" xlink:to="InterestPeriodThreeMonthsMember" xlink:title="definition: PeriodOfInterestRatesMember to InterestPeriodThreeMonthsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodOneMonthMember" xlink:label="InterestPeriodOneMonthMember" xlink:title="InterestPeriodOneMonthMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PeriodOfInterestRatesMember" xlink:to="InterestPeriodOneMonthMember" xlink:title="definition: PeriodOfInterestRatesMember to InterestPeriodOneMonthMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongtermBorrowings" order="23.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="9.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="11.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="14.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="15.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="27.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRateBasis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRateBasis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="BorrowingsAdjustmentToInterestRateBasis" xlink:title="BorrowingsAdjustmentToInterestRateBasis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsAdjustmentToInterestRateBasis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsAdjustmentToInterestRateBasis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:label="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LiquidityToConsolidatedIndebtednessRatio" xlink:label="LiquidityToConsolidatedIndebtednessRatio" xlink:title="LiquidityToConsolidatedIndebtednessRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LiquidityToConsolidatedIndebtednessRatio" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LiquidityToConsolidatedIndebtednessRatio" order="16.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountOfEquityToBeRaised" xlink:label="AmountOfEquityToBeRaised" xlink:title="AmountOfEquityToBeRaised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountOfEquityToBeRaised" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountOfEquityToBeRaised" order="18.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LoanPrincipalAmountDeferred" xlink:label="LoanPrincipalAmountDeferred" xlink:title="LoanPrincipalAmountDeferred"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LoanPrincipalAmountDeferred" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LoanPrincipalAmountDeferred" order="21.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" order="26.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" order="28.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RestrictedCashAndCashEquivalents" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RestrictedCashAndCashEquivalents" order="17.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferralFeePercentage" xlink:label="DeferralFeePercentage" xlink:title="DeferralFeePercentage"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DeferralFeePercentage" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DeferralFeePercentage" order="20.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CashAndCashEquivalents" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CashAndCashEquivalents" use="optional" order="24.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_UnrealizedCashAndCashEquivalents" xlink:label="UnrealizedCashAndCashEquivalents" xlink:title="UnrealizedCashAndCashEquivalents"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="UnrealizedCashAndCashEquivalents" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to UnrealizedCashAndCashEquivalents" order="25.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DisclosureOfDetailedInformationAboutBorrowingsTable" order="2.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="definition: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember_2" xlink:title="BorrowingsByNameMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember_2" xlink:title="definition: BorrowingsByNameAxis to BorrowingsByNameMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DVBBankLoanAgreementMember" xlink:label="DVBBankLoanAgreementMember" xlink:title="DVBBankLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="DVBBankLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to DVBBankLoanAgreementMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:label="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to MacquarieBankInternationalLimitedLoanAgreementMember" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementMember" xlink:label="HamburgCommercialBankAGLoanAgreementMember" xlink:title="HamburgCommercialBankAGLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementMember" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CommerzbankLoanAgreementMember" xlink:label="CommerzbankLoanAgreementMember" xlink:title="CommerzbankLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="CommerzbankLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to CommerzbankLoanAgreementMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAGLoanAgreementMember" xlink:label="HSHNordbankAGLoanAgreementMember" xlink:title="HSHNordbankAGLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="HSHNordbankAGLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to HSHNordbankAGLoanAgreementMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedLoanAgreementMember" xlink:label="FirmentTradingLimitedLoanAgreementMember" xlink:title="FirmentTradingLimitedLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="FirmentTradingLimitedLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to FirmentTradingLimitedLoanAgreementMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedLoanAgreementMember" xlink:label="SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="SilanerInvestmentsLimitedLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to SilanerInvestmentsLimitedLoanAgreementMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncLoanAgreementMember" xlink:label="FirmentShippingIncLoanAgreementMember" xlink:title="FirmentShippingIncLoanAgreementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="FirmentShippingIncLoanAgreementMember" xlink:title="definition: BorrowingsByNameMember to FirmentShippingIncLoanAgreementMember" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="definition: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember_2" xlink:title="CreditFacilityMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember_2" xlink:title="definition: CreditFacilityAxis to CreditFacilityMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="definition: CreditFacilityMember to TrancheAMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="definition: CreditFacilityMember to TrancheBMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceAMember" xlink:label="AdvanceAMember" xlink:title="AdvanceAMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="AdvanceAMember" xlink:title="definition: CreditFacilityMember to AdvanceAMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceBMember" xlink:label="AdvanceBMember" xlink:title="AdvanceBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CreditFacilityMember" xlink:to="AdvanceBMember" xlink:title="definition: CreditFacilityMember to AdvanceBMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="MaturityAxis" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsTable to MaturityAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="definition: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember_2" xlink:title="AggregatedTimeBandsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember_2" xlink:title="definition: MaturityAxis to AggregatedTimeBandsMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="definition: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanTwoYearsMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanTwoYearsAndNotLaterThanThreeYearsMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanThreeYearsAndNotLaterThanFourYearsMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanFourYearsAndNotLaterThanFiveYearsMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsMember" xlink:label="LaterThanThreeYearsMember" xlink:title="LaterThanThreeYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanThreeYearsMember" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LaterThanTwoYearsMember" xlink:label="LaterThanTwoYearsMember" xlink:title="LaterThanTwoYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanTwoYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanTwoYearsMember" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsGross" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsGross" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleDebtIncludingEmbeddedDerivative" xlink:label="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="ConvertibleDebtIncludingEmbeddedDerivative"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="definition: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ConvertibleDebtIncludingEmbeddedDerivative" order="3.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="definition: RangesMember to TopOfRangeMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:label="DisclosureOfFinancialInstrumentsLineItems" xlink:title="DisclosureOfFinancialInstrumentsLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPercentageBearingFixedInterestRate" xlink:label="BorrowingsPercentageBearingFixedInterestRate" xlink:title="BorrowingsPercentageBearingFixedInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="BorrowingsPercentageBearingFixedInterestRate" xlink:title="definition: DisclosureOfFinancialInstrumentsLineItems to BorrowingsPercentageBearingFixedInterestRate" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:label="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="definition: DisclosureOfFinancialInstrumentsLineItems to NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsTable" xlink:label="DisclosureOfFinancialInstrumentsTable" xlink:title="DisclosureOfFinancialInstrumentsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="DisclosureOfFinancialInstrumentsTable" xlink:title="definition: DisclosureOfFinancialInstrumentsLineItems to DisclosureOfFinancialInstrumentsTable" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfFinancialInstrumentsTable to RangeAxis" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/DividendsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="definition: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableLineItems" xlink:label="DividendsPayableLineItems" xlink:title="DividendsPayableLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableTable" xlink:label="DividendsPayableTable" xlink:title="DividendsPayableTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DividendsPayableLineItems" xlink:to="DividendsPayableTable" xlink:title="definition: DividendsPayableLineItems to DividendsPayableTable" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DividendsPayableTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: DividendsPayableTable to ClassesOfShareCapitalAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DividendsPayableLineItems" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="definition: DividendsPayableLineItems to StockRedeemedDuringPeriodShares" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DividendsPayableLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="definition: DividendsPayableLineItems to NumberOfSharesOutstanding" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DividendsPayableLineItems" xlink:to="DividendsPaidClassifiedAsFinancingActivities" xlink:title="definition: DividendsPayableLineItems to DividendsPaidClassifiedAsFinancingActivities" use="optional" order="4.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="definition: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="definition: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:to="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems to MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems to DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" order="2.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:to="MaturityAxis" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable to MaturityAxis" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="definition: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="definition: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanFiveYearsMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:to="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems to MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems to DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" order="2.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:to="MaturityAxis" xlink:title="definition: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable to MaturityAxis" order="1.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="definition: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanFiveYearsMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanThreeMonthsMember" xlink:label="NotLaterThanThreeMonthsMember" xlink:title="NotLaterThanThreeMonthsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanThreeMonthsMember" xlink:title="definition: AggregatedTimeBandsMember to NotLaterThanThreeMonthsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:label="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="definition: AggregatedTimeBandsMember to LaterThanThreeMonthsAndNotLaterThanOneYearMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="DisclosureOfFinancialLiabilitiesLineItems" xlink:title="DisclosureOfFinancialLiabilitiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="definition: DisclosureOfFinancialLiabilitiesLineItems to CurrentAccruedExpensesAndOtherCurrentLiabilities" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="TradeAndOtherCurrentPayables" xlink:title="definition: DisclosureOfFinancialLiabilitiesLineItems to TradeAndOtherCurrentPayables" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="FinancialLiabilities" xlink:title="definition: DisclosureOfFinancialLiabilitiesLineItems to FinancialLiabilities" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:label="DisclosureOfFinancialLiabilitiesTable" xlink:title="DisclosureOfFinancialLiabilitiesTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="DisclosureOfFinancialLiabilitiesTable" xlink:title="definition: DisclosureOfFinancialLiabilitiesLineItems to DisclosureOfFinancialLiabilitiesTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="MaturityAxis" xlink:title="definition: DisclosureOfFinancialLiabilitiesTable to MaturityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="NoncurrentFinancialLiabilities" xlink:title="NoncurrentFinancialLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="NoncurrentFinancialLiabilities" xlink:title="definition: DisclosureOfFinancialLiabilitiesLineItems to NoncurrentFinancialLiabilities" order="5.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="Ships" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to Ships" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedDepreciationPropertyPlantAndEquipment" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="IntangibleAssetsOtherThanGoodwill" xlink:title="IntangibleAssetsOtherThanGoodwill"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="IntangibleAssetsOtherThanGoodwill" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to IntangibleAssetsOtherThanGoodwill" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:label="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="DepreciationAndAmortisationExpense" xlink:title="DepreciationAndAmortisationExpense"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DepreciationAndAmortisationExpense" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to DepreciationAndAmortisationExpense" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:label="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationSaleOfSubsidiary" xlink:label="AccumulatedDepreciationSaleOfSubsidiary" xlink:title="AccumulatedDepreciationSaleOfSubsidiary"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationSaleOfSubsidiary" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedDepreciationSaleOfSubsidiary" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to DisclosureOfPropertyPlantAndEquipmentTable" use="optional" order="9.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="definition: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShipsMember" xlink:label="ShipsMember" xlink:title="ShipsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="ShipsMember" xlink:title="definition: PropertyPlantAndEquipmentMember to ShipsMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DryDockingMember" xlink:label="DryDockingMember" xlink:title="DryDockingMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="DryDockingMember" xlink:title="definition: PropertyPlantAndEquipmentMember to DryDockingMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfTimeCharterAttachedMember" xlink:label="FairValueOfTimeCharterAttachedMember" xlink:title="FairValueOfTimeCharterAttachedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="FairValueOfTimeCharterAttachedMember" xlink:title="definition: PropertyPlantAndEquipmentMember to FairValueOfTimeCharterAttachedMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentTable to CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="CarryingAmountMember" xlink:title="definition: CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to CarryingAmountMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="GrossCarryingAmountMember" xlink:title="GrossCarryingAmountMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CarryingAmountMember" xlink:to="GrossCarryingAmountMember" xlink:title="definition: CarryingAmountMember to GrossCarryingAmountMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="AccumulatedDepreciationAmortisationAndImpairmentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CarryingAmountMember" xlink:to="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="definition: CarryingAmountMember to AccumulatedDepreciationAmortisationAndImpairmentMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CarryingAmountIMember" xlink:label="CarryingAmountIMember" xlink:title="CarryingAmountIMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CarryingAmountMember" xlink:to="CarryingAmountIMember" xlink:title="definition: CarryingAmountMember to CarryingAmountIMember" use="optional" order="3.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="CarryingAmountMember" xlink:title="definition: CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to CarryingAmountMember" use="optional" priority="1" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to DisclosureOfPropertyPlantAndEquipmentTable" use="optional" order="7.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="definition: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SunGlobeMember" xlink:label="SunGlobeMember" xlink:title="SunGlobeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="SunGlobeMember" xlink:title="definition: PropertyPlantAndEquipmentMember to SunGlobeMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SupramaxMember" xlink:label="SupramaxMember" xlink:title="SupramaxMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="SupramaxMember" xlink:title="definition: PropertyPlantAndEquipmentMember to SupramaxMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PanamaxMember" xlink:label="PanamaxMember" xlink:title="PanamaxMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="PanamaxMember" xlink:title="definition: PropertyPlantAndEquipmentMember to PanamaxMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:label="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfAnnualGrowthRatesOfTimeCharterRates" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfExpectedRatesOfInflation" xlink:label="AssumptionOfExpectedRatesOfInflation" xlink:title="AssumptionOfExpectedRatesOfInflation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfExpectedRatesOfInflation" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfExpectedRatesOfInflation" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselCapacity" xlink:label="VesselCapacity" xlink:title="VesselCapacity"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="VesselCapacity" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to VesselCapacity" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfFleetUtilisationRate" xlink:label="AssumptionOfFleetUtilisationRate" xlink:title="AssumptionOfFleetUtilisationRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfFleetUtilisationRate" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfFleetUtilisationRate" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:label="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="AmortisationMethodIntangibleAssetsOtherThanGoodwill"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to AmortisationMethodIntangibleAssetsOtherThanGoodwill" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TimePeriodConsidered" xlink:label="TimePeriodConsidered" xlink:title="TimePeriodConsidered"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="TimePeriodConsidered" xlink:title="definition: DisclosureOfPropertyPlantAndEquipmentLineItems to TimePeriodConsidered" order="9.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInInterestRates" xlink:label="IncreaseInInterestRates" xlink:title="IncreaseInInterestRates"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="IncreaseInInterestRates" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to IncreaseInInterestRates" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInInterestRates" xlink:label="DecreaseInInterestRates" xlink:title="DecreaseInInterestRates"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DecreaseInInterestRates" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DecreaseInInterestRates" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="TypesOfRisksAxis" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to TypesOfRisksAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="TypesOfRisksAxis" xlink:to="TypesOfRisksMember" xlink:title="definition: TypesOfRisksAxis to TypesOfRisksMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember_2" xlink:title="TypesOfRisksMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="TypesOfRisksAxis" xlink:to="TypesOfRisksMember_2" xlink:title="definition: TypesOfRisksAxis to TypesOfRisksMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="InterestRateRiskMember" xlink:title="InterestRateRiskMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TypesOfRisksMember" xlink:to="InterestRateRiskMember" xlink:title="definition: TypesOfRisksMember to InterestRateRiskMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" order="5.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="TypesOfRisksAxis" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to TypesOfRisksAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="TypesOfRisksAxis" xlink:to="TypesOfRisksMember" xlink:title="definition: TypesOfRisksAxis to TypesOfRisksMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencyRiskMember" xlink:label="CurrencyRiskMember" xlink:title="CurrencyRiskMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TypesOfRisksMember" xlink:to="CurrencyRiskMember" xlink:title="definition: TypesOfRisksMember to CurrencyRiskMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInExchangeRates" xlink:label="IncreaseInExchangeRates" xlink:title="IncreaseInExchangeRates"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="IncreaseInExchangeRates" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to IncreaseInExchangeRates" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInExchangeRates" xlink:label="DecreaseInExchangeRates" xlink:title="DecreaseInExchangeRates"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DecreaseInExchangeRates" xlink:title="definition: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DecreaseInExchangeRates" order="2.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureLineItems" xlink:label="DisclosureOfCreditRiskExposureLineItems" xlink:title="DisclosureOfCreditRiskExposureLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="RevenueFromRenderingOfServices" xlink:title="RevenueFromRenderingOfServices"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="RevenueFromRenderingOfServices" xlink:title="definition: DisclosureOfCreditRiskExposureLineItems to RevenueFromRenderingOfServices" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="PercentageOfEntitysRevenue" xlink:title="PercentageOfEntitysRevenue"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="PercentageOfEntitysRevenue" xlink:title="definition: DisclosureOfCreditRiskExposureLineItems to PercentageOfEntitysRevenue" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureTable" xlink:label="DisclosureOfCreditRiskExposureTable" xlink:title="DisclosureOfCreditRiskExposureTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="DisclosureOfCreditRiskExposureTable" xlink:title="definition: DisclosureOfCreditRiskExposureLineItems to DisclosureOfCreditRiskExposureTable" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesAxis" xlink:label="CounterpartiesAxis" xlink:title="CounterpartiesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="CounterpartiesAxis" xlink:title="definition: DisclosureOfCreditRiskExposureTable to CounterpartiesAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesMember" xlink:label="CounterpartiesMember" xlink:title="CounterpartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CounterpartiesAxis" xlink:to="CounterpartiesMember" xlink:title="definition: CounterpartiesAxis to CounterpartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesMember" xlink:label="CounterpartiesMember_2" xlink:title="CounterpartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CounterpartiesAxis" xlink:to="CounterpartiesMember_2" xlink:title="definition: CounterpartiesAxis to CounterpartiesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererMember" xlink:label="MajorChartererMember" xlink:title="MajorChartererMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="MajorChartererMember" xlink:title="definition: CounterpartiesMember to MajorChartererMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererBMember" xlink:label="MajorChartererBMember" xlink:title="MajorChartererBMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="MajorChartererBMember" xlink:title="definition: CounterpartiesMember to MajorChartererBMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererCMember" xlink:label="MajorChartererCMember" xlink:title="MajorChartererCMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="MajorChartererCMember" xlink:title="definition: CounterpartiesMember to MajorChartererCMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererDMember" xlink:label="MajorChartererDMember" xlink:title="MajorChartererDMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="MajorChartererDMember" xlink:title="definition: CounterpartiesMember to MajorChartererDMember" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherMajorCharterersMember" xlink:label="OtherMajorCharterersMember" xlink:title="OtherMajorCharterersMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="OtherMajorCharterersMember" xlink:title="definition: CounterpartiesMember to OtherMajorCharterersMember" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererEMember" xlink:label="MajorChartererEMember" xlink:title="MajorChartererEMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CounterpartiesMember" xlink:to="MajorChartererEMember" xlink:title="definition: CounterpartiesMember to MajorChartererEMember" order="6.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:label="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:title="DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="FinancialLiabilitiesAtFairValue" xlink:title="FinancialLiabilitiesAtFairValue"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="FinancialLiabilitiesAtFairValue" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsLineItems to FinancialLiabilitiesAtFairValue" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:label="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="DisclosureOfFairValueMeasurementOfAssetsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsLineItems to DisclosureOfFairValueMeasurementOfAssetsTable" order="2.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="LevelsOfFairValueHierarchyAxis" xlink:title="LevelsOfFairValueHierarchyAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="LevelsOfFairValueHierarchyAxis" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsTable to LevelsOfFairValueHierarchyAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember" xlink:title="AllLevelsOfFairValueHierarchyMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="AllLevelsOfFairValueHierarchyMember" xlink:title="definition: LevelsOfFairValueHierarchyAxis to AllLevelsOfFairValueHierarchyMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember_2" xlink:title="AllLevelsOfFairValueHierarchyMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="AllLevelsOfFairValueHierarchyMember_2" xlink:title="definition: LevelsOfFairValueHierarchyAxis to AllLevelsOfFairValueHierarchyMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="Level2OfFairValueHierarchyMember" xlink:title="Level2OfFairValueHierarchyMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="Level2OfFairValueHierarchyMember" xlink:title="definition: AllLevelsOfFairValueHierarchyMember to Level2OfFairValueHierarchyMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="Level3OfFairValueHierarchyMember" xlink:title="Level3OfFairValueHierarchyMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="Level3OfFairValueHierarchyMember" xlink:title="definition: AllLevelsOfFairValueHierarchyMember to Level3OfFairValueHierarchyMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MeasurementAxis" xlink:label="MeasurementAxis" xlink:title="MeasurementAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="MeasurementAxis" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsTable to MeasurementAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="AggregatedMeasurementMember" xlink:title="AggregatedMeasurementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MeasurementAxis" xlink:to="AggregatedMeasurementMember" xlink:title="definition: MeasurementAxis to AggregatedMeasurementMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="AggregatedMeasurementMember_2" xlink:title="AggregatedMeasurementMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="MeasurementAxis" xlink:to="AggregatedMeasurementMember_2" xlink:title="definition: MeasurementAxis to AggregatedMeasurementMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AtFairValueMember" xlink:label="AtFairValueMember" xlink:title="AtFairValueMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedMeasurementMember" xlink:to="AtFairValueMember" xlink:title="definition: AggregatedMeasurementMember to AtFairValueMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:label="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AggregatedMeasurementMember" xlink:to="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="definition: AggregatedMeasurementMember to NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsLineItems to NoncurrentDerivativeFinancialLiabilities" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="FinancialLiabilities" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsLineItems to FinancialLiabilities" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="BorrowingsGross" xlink:title="definition: DisclosureOfFairValueMeasurementOfAssetsLineItems to BorrowingsGross" order="5.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="definition: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="definition: OtherRelatedPartiesMember to FirmentShippingIncMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteMember" xlink:label="ConvertibleNoteMember" xlink:title="ConvertibleNoteMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteMember" xlink:title="definition: OtherRelatedPartiesMember to ConvertibleNoteMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="definition: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAndDVBBankMember" xlink:label="HSHNordbankAndDVBBankMember" xlink:title="HSHNordbankAndDVBBankMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="HSHNordbankAndDVBBankMember" xlink:title="definition: BorrowingsByNameMember to HSHNordbankAndDVBBankMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankAndHamburgCommercialBankAGMember" xlink:label="MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="MacquarieBankAndHamburgCommercialBankAGMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="definition: BorrowingsByNameMember to MacquarieBankAndHamburgCommercialBankAGMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementIIMember" xlink:label="HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="HamburgCommercialBankAGLoanAgreementIIMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="definition: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementIIMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="definition: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember_2" xlink:title="PropertyPlantAndEquipmentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember_2" xlink:title="definition: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShipsMember" xlink:label="ShipsMember" xlink:title="ShipsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="ShipsMember" xlink:title="definition: PropertyPlantAndEquipmentMember to ShipsMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferredDryDockingCostsMember" xlink:label="DeferredDryDockingCostsMember" xlink:title="DeferredDryDockingCostsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="DeferredDryDockingCostsMember" xlink:title="definition: PropertyPlantAndEquipmentMember to DeferredDryDockingCostsMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" order="1.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="BorrowingsByNameAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to BorrowingsByNameAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsAxis" xlink:label="NewIFRSsAxis" xlink:title="NewIFRSsAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="NewIFRSsAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to NewIFRSsAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsMember" xlink:label="NewIFRSsMember" xlink:title="NewIFRSsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="NewIFRSsAxis" xlink:to="NewIFRSsMember" xlink:title="definition: NewIFRSsAxis to NewIFRSsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsMember" xlink:label="NewIFRSsMember_2" xlink:title="NewIFRSsMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="NewIFRSsAxis" xlink:to="NewIFRSsMember_2" xlink:title="definition: NewIFRSsAxis to NewIFRSsMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IFRS16LeasesMember" xlink:label="IFRS16LeasesMember" xlink:title="IFRS16LeasesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NewIFRSsMember" xlink:to="IFRS16LeasesMember" xlink:title="definition: NewIFRSsMember to IFRS16LeasesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesAxis" xlink:label="AccountingEstimatesAxis" xlink:title="AccountingEstimatesAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="AccountingEstimatesAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to AccountingEstimatesAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesMember" xlink:label="AccountingEstimatesMember" xlink:title="AccountingEstimatesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="AccountingEstimatesAxis" xlink:to="AccountingEstimatesMember" xlink:title="definition: AccountingEstimatesAxis to AccountingEstimatesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesMember" xlink:label="AccountingEstimatesMember_2" xlink:title="AccountingEstimatesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="AccountingEstimatesAxis" xlink:to="AccountingEstimatesMember_2" xlink:title="definition: AccountingEstimatesAxis to AccountingEstimatesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LeaseComponentMember" xlink:label="LeaseComponentMember" xlink:title="LeaseComponentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AccountingEstimatesMember" xlink:to="LeaseComponentMember" xlink:title="definition: AccountingEstimatesMember to LeaseComponentMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonLeaseComponentMember" xlink:label="NonLeaseComponentMember" xlink:title="NonLeaseComponentMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AccountingEstimatesMember" xlink:to="NonLeaseComponentMember" xlink:title="definition: AccountingEstimatesMember to NonLeaseComponentMember" order="2.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to CategoriesOfRelatedPartiesAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:label="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to ValuationTechniquesUsedInFairValueMeasurementAxis" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesMember" xlink:label="ValuationTechniquesMember" xlink:title="ValuationTechniquesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="ValuationTechniquesMember" xlink:title="definition: ValuationTechniquesUsedInFairValueMeasurementAxis to ValuationTechniquesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesMember" xlink:label="ValuationTechniquesMember_2" xlink:title="ValuationTechniquesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="ValuationTechniquesMember_2" xlink:title="definition: ValuationTechniquesUsedInFairValueMeasurementAxis to ValuationTechniquesMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeApproachMember" xlink:label="IncomeApproachMember" xlink:title="IncomeApproachMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ValuationTechniquesMember" xlink:to="IncomeApproachMember" xlink:title="definition: ValuationTechniquesMember to IncomeApproachMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OptionPricingModelMember" xlink:label="OptionPricingModelMember" xlink:title="OptionPricingModelMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncomeApproachMember" xlink:to="OptionPricingModelMember" xlink:title="definition: IncomeApproachMember to OptionPricingModelMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BlackScholesOptionPricingModelMember" xlink:label="BlackScholesOptionPricingModelMember" xlink:title="BlackScholesOptionPricingModelMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OptionPricingModelMember" xlink:to="BlackScholesOptionPricingModelMember" xlink:title="definition: OptionPricingModelMember to BlackScholesOptionPricingModelMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsLiabilities" xlink:label="CurrentAssetsLiabilities" xlink:title="CurrentAssetsLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="CurrentAssetsLiabilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to CurrentAssetsLiabilities" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AllowanceForDoubtfulTradeReceivables" xlink:label="AllowanceForDoubtfulTradeReceivables" xlink:title="AllowanceForDoubtfulTradeReceivables"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="AllowanceForDoubtfulTradeReceivables" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to AllowanceForDoubtfulTradeReceivables" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationMethodPropertyPlantAndEquipment" xlink:label="DepreciationMethodPropertyPlantAndEquipment" xlink:title="DepreciationMethodPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DepreciationMethodPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DepreciationMethodPropertyPlantAndEquipment" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselsScrapRatePerTon" xlink:label="VesselsScrapRatePerTon" xlink:title="VesselsScrapRatePerTon"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="VesselsScrapRatePerTon" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to VesselsScrapRatePerTon" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExtraDepreciationPropertyPlantAndEquipment" xlink:label="ExtraDepreciationPropertyPlantAndEquipment" xlink:title="ExtraDepreciationPropertyPlantAndEquipment"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ExtraDepreciationPropertyPlantAndEquipment" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ExtraDepreciationPropertyPlantAndEquipment" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="BorrowingCostsCapitalised" xlink:title="BorrowingCostsCapitalised"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="BorrowingCostsCapitalised" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to BorrowingCostsCapitalised" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="NumberOfOperatingSegments" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to NumberOfOperatingSegments" use="optional" order="9.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:label="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="DescriptionOfNatureOfBenefitsProvidedByPlan"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DescriptionOfNatureOfBenefitsProvidedByPlan" use="optional" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="LiabilityAssetOfDefinedBenefitPlans" xlink:title="LiabilityAssetOfDefinedBenefitPlans"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="LiabilityAssetOfDefinedBenefitPlans" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to LiabilityAssetOfDefinedBenefitPlans" use="optional" order="11.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to CurrentPortionOfLongtermBorrowings" order="14.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageRevenues" xlink:label="IncreaseDecreaseVoyageRevenues" xlink:title="IncreaseDecreaseVoyageRevenues"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IncreaseDecreaseVoyageRevenues" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IncreaseDecreaseVoyageRevenues" order="15.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageExpenses" xlink:label="IncreaseDecreaseVoyageExpenses" xlink:title="IncreaseDecreaseVoyageExpenses"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IncreaseDecreaseVoyageExpenses" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IncreaseDecreaseVoyageExpenses" order="16.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndiscountedFinanceLeasePaymentsToBeReceived" xlink:label="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="UndiscountedFinanceLeasePaymentsToBeReceived"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UndiscountedFinanceLeasePaymentsToBeReceived" order="17.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RightofuseAssets" xlink:label="RightofuseAssets" xlink:title="RightofuseAssets"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="RightofuseAssets" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to RightofuseAssets" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyDepreciationRightofuseAssets" xlink:label="MonthlyDepreciationRightofuseAssets" xlink:title="MonthlyDepreciationRightofuseAssets"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="MonthlyDepreciationRightofuseAssets" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to MonthlyDepreciationRightofuseAssets" order="19.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:label="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="DateAsAtWhichEntityPlansToApplyNewIFRSInitially"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DateAsAtWhichEntityPlansToApplyNewIFRSInitially" order="20.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TitleOfNewIFRS" xlink:label="TitleOfNewIFRS" xlink:title="TitleOfNewIFRS"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="TitleOfNewIFRS" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to TitleOfNewIFRS" order="21.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired" xlink:label="DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="DateByWhichApplicationOfNewIFRSIsRequired"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DateByWhichApplicationOfNewIFRSIsRequired" order="22.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:label="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:title="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" order="23.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ProceedsFromIssuingShares" order="25.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ParValuePerShare" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ParValuePerShare" order="26.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IntervalBetweenVesselDrydockingSpecialSurvey" xlink:label="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IntervalBetweenVesselDrydockingSpecialSurvey" order="27.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UndrawnBorrowingFacilities" use="optional" order="28.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:label="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" order="29.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateSignificantUnobservableInputsLiabilities" xlink:label="InterestRateSignificantUnobservableInputsLiabilities" xlink:title="InterestRateSignificantUnobservableInputsLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="InterestRateSignificantUnobservableInputsLiabilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to InterestRateSignificantUnobservableInputsLiabilities" order="30.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:label="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DerivativeLifeSignificantUnobservableInputsLiabilities" order="31.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:label="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="ExpectedDividendYieldSignificantUnobservableInputsLiabilities"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ExpectedDividendYieldSignificantUnobservableInputsLiabilities" order="32.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="BorrowingsGross" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to BorrowingsGross" order="33.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageSharePrice" xlink:label="WeightedAverageSharePrice" xlink:title="WeightedAverageSharePrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="WeightedAverageSharePrice" xlink:title="definition: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to WeightedAverageSharePrice" order="34.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="definition: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="definition: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="definition: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteMember" xlink:label="ConvertibleNoteMember" xlink:title="ConvertibleNoteMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteMember" xlink:title="definition: OtherRelatedPartiesMember to ConvertibleNoteMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteIIMember" xlink:label="ConvertibleNoteIIMember" xlink:title="ConvertibleNoteIIMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteIIMember" xlink:title="definition: OtherRelatedPartiesMember to ConvertibleNoteIIMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="definition: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="definition: RangesMember to BottomOfRangeMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="definition: RangesMember to TopOfRangeMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DisclosureOfNonadjustingEventsAfterReportingPeriodTable" order="4.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to CategoriesOfRelatedPartiesAxis" order="4.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="RangeAxis" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to RangeAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProbabilityOfDefaultAxis" xlink:label="ProbabilityOfDefaultAxis" xlink:title="ProbabilityOfDefaultAxis"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="ProbabilityOfDefaultAxis" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to ProbabilityOfDefaultAxis" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForProbabilityOfDefaultMember" xlink:label="EntitysTotalForProbabilityOfDefaultMember" xlink:title="EntitysTotalForProbabilityOfDefaultMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ProbabilityOfDefaultAxis" xlink:to="EntitysTotalForProbabilityOfDefaultMember" xlink:title="definition: ProbabilityOfDefaultAxis to EntitysTotalForProbabilityOfDefaultMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForProbabilityOfDefaultMember" xlink:label="EntitysTotalForProbabilityOfDefaultMember_2" xlink:title="EntitysTotalForProbabilityOfDefaultMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ProbabilityOfDefaultAxis" xlink:to="EntitysTotalForProbabilityOfDefaultMember_2" xlink:title="definition: ProbabilityOfDefaultAxis to EntitysTotalForProbabilityOfDefaultMember" priority="1" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EventOfDefaultMember" xlink:label="EventOfDefaultMember" xlink:title="EventOfDefaultMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="EventOfDefaultMember" xlink:title="definition: EntitysTotalForProbabilityOfDefaultMember to EventOfDefaultMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChangeInControlMember" xlink:label="ChangeInControlMember" xlink:title="ChangeInControlMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="ChangeInControlMember" xlink:title="definition: EntitysTotalForProbabilityOfDefaultMember to ChangeInControlMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TradingDaysCovenantMember" xlink:label="TradingDaysCovenantMember" xlink:title="TradingDaysCovenantMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="TradingDaysCovenantMember" xlink:title="definition: EntitysTotalForProbabilityOfDefaultMember to TradingDaysCovenantMember" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ProceedsFromIssuingShares" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ParValuePerShare" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ParValuePerShare" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:label="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleConversionPrice" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="9.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleConversionMultiplier" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="BorrowingsInterestRate" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to BorrowingsInterestRate" use="optional" order="11.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNotesRedemptionPricePercentage" xlink:label="ConvertibleNotesRedemptionPricePercentage" xlink:title="ConvertibleNotesRedemptionPricePercentage"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ConvertibleNotesRedemptionPricePercentage" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ConvertibleNotesRedemptionPricePercentage" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PercentageBelowFloorPrice" xlink:label="PercentageBelowFloorPrice" xlink:title="PercentageBelowFloorPrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="PercentageBelowFloorPrice" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to PercentageBelowFloorPrice" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MinimumPossibleConversionPrice" xlink:label="MinimumPossibleConversionPrice" xlink:title="MinimumPossibleConversionPrice"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="MinimumPossibleConversionPrice" xlink:title="definition: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to MinimumPossibleConversionPrice" order="14.0"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="definition: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="definition: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="EarningsPerShareTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="definition: EarningsPerShareTable to ClassesOfShareCapitalAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInNumberOfSharesOutstandingAbstract" xlink:label="ChangesInNumberOfSharesOutstandingAbstract" xlink:title="ChangesInNumberOfSharesOutstandingAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ReverseStockSplitConversionRatio" xlink:label="ReverseStockSplitConversionRatio" xlink:title="ReverseStockSplitConversionRatio"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ChangesInNumberOfSharesOutstandingAbstract" xlink:to="ReverseStockSplitConversionRatio" xlink:title="definition: ChangesInNumberOfSharesOutstandingAbstract to ReverseStockSplitConversionRatio" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ChangesInNumberOfSharesOutstandingAbstract" xlink:to="NumberOfSharesOutstanding" xlink:title="definition: ChangesInNumberOfSharesOutstandingAbstract to NumberOfSharesOutstanding" use="optional" order="2.0"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ChangesInNumberOfSharesOutstandingAbstract" xlink:to="EarningsPerShareTable" xlink:title="definition: ChangesInNumberOfSharesOutstandingAbstract to EarningsPerShareTable" order="3.0" xbrldt:contextElement="segment" xbrldt:closed="true"/>
  </definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>11
<FILENAME>glbs-20181231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0228 -->
<!--
Taxonomy Label Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 09:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2018 UBmatrix inc., All Rights Reserved
Produced on 2018-01-09 12:04:48
-->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag"/>
    <label xlink:type="resource" xlink:label="label_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmendmentFlag" xml:lang="en-US" id="label_AmendmentFlag">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="label_AmendmentFlag" xlink:title="label: AmendmentFlag to label_AmendmentFlag"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:label="label_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentFiscalYearEndDate" xml:lang="en-US" id="label_CurrentFiscalYearEndDate">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFiscalYearEndDate" xlink:to="label_CurrentFiscalYearEndDate" xlink:title="label: CurrentFiscalYearEndDate to label_CurrentFiscalYearEndDate"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:label="label_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentFiscalPeriodFocus" xml:lang="en-US" id="label_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="label_DocumentFiscalPeriodFocus" xlink:title="label: DocumentFiscalPeriodFocus to label_DocumentFiscalPeriodFocus"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:label="label_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentFiscalYearFocus" xml:lang="en-US" id="label_DocumentFiscalYearFocus">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="label_DocumentFiscalYearFocus" xlink:title="label: DocumentFiscalYearFocus to label_DocumentFiscalYearFocus"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:label="label_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentPeriodEndDate" xml:lang="en-US" id="label_DocumentPeriodEndDate">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="label_DocumentPeriodEndDate" xlink:title="label: DocumentPeriodEndDate to label_DocumentPeriodEndDate"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType"/>
    <label xlink:type="resource" xlink:label="label_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentType" xml:lang="en-US" id="label_DocumentType">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="label_DocumentType" xlink:title="label: DocumentType to label_DocumentType"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntitiesTable" xlink:label="EntitiesTable" xlink:title="EntitiesTable"/>
    <label xlink:type="resource" xlink:label="label_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitiesTable" xml:lang="en-US" id="label_EntitiesTable">Entities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitiesTable" xlink:to="label_EntitiesTable" xlink:title="label: EntitiesTable to label_EntitiesTable"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:label="label_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCentralIndexKey" xml:lang="en-US" id="label_EntityCentralIndexKey">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="label_EntityCentralIndexKey" xlink:title="label: EntityCentralIndexKey to label_EntityCentralIndexKey"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="label_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCommonStockSharesOutstanding" xml:lang="en-US" id="label_EntityCommonStockSharesOutstanding">Entity Common Stock Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCommonStockSharesOutstanding" xlink:to="label_EntityCommonStockSharesOutstanding" xlink:title="label: EntityCommonStockSharesOutstanding to label_EntityCommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:label="label_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCurrentReportingStatus" xml:lang="en-US" id="label_EntityCurrentReportingStatus">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="label_EntityCurrentReportingStatus" xlink:title="label: EntityCurrentReportingStatus to label_EntityCurrentReportingStatus"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityDomain" xlink:label="EntityDomain" xlink:title="EntityDomain"/>
    <label xlink:type="resource" xlink:label="label_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityDomain" xml:lang="en-US" id="label_EntityDomain">Entity [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityDomain" xlink:to="label_EntityDomain" xlink:title="label: EntityDomain to label_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory"/>
    <label xlink:type="resource" xlink:label="label_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityFilerCategory" xml:lang="en-US" id="label_EntityFilerCategory">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFilerCategory" xlink:to="label_EntityFilerCategory" xlink:title="label: EntityFilerCategory to label_EntityFilerCategory"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName"/>
    <label xlink:type="resource" xlink:label="label_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityRegistrantName" xml:lang="en-US" id="label_EntityRegistrantName">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="label_EntityRegistrantName" xlink:title="label: EntityRegistrantName to label_EntityRegistrantName"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="EntityVoluntaryFilers" xlink:title="EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:label="label_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityVoluntaryFilers" xml:lang="en-US" id="label_EntityVoluntaryFilers">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityVoluntaryFilers" xlink:to="label_EntityVoluntaryFilers" xlink:title="label: EntityVoluntaryFilers to label_EntityVoluntaryFilers"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="EntityWellKnownSeasonedIssuer" xlink:title="EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:label="label_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityWellKnownSeasonedIssuer" xml:lang="en-US" id="label_EntityWellKnownSeasonedIssuer">Entity Well Known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityWellKnownSeasonedIssuer" xlink:to="label_EntityWellKnownSeasonedIssuer" xlink:title="label: EntityWellKnownSeasonedIssuer to label_EntityWellKnownSeasonedIssuer"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_LegalEntityAxis" xlink:label="LegalEntityAxis" xlink:title="LegalEntityAxis"/>
    <label xlink:type="resource" xlink:label="label_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalEntityAxis" xml:lang="en-US" id="label_LegalEntityAxis">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalEntityAxis" xlink:to="label_LegalEntityAxis" xlink:title="label: LegalEntityAxis to label_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol"/>
    <label xlink:type="resource" xlink:label="label_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradingSymbol" xml:lang="en-US" id="label_TradingSymbol">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingSymbol" xlink:to="label_TradingSymbol" xlink:title="label: TradingSymbol to label_TradingSymbol"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedAuditFeesCurrent" xlink:label="AccruedAuditFeesCurrent" xlink:title="AccruedAuditFeesCurrent"/>
    <label xlink:type="resource" xlink:label="label_AccruedAuditFeesCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccruedAuditFeesCurrent" xml:lang="en-US" id="label_AccruedAuditFeesCurrent">The amount of current audit fees payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedAuditFeesCurrent" xlink:to="label_AccruedAuditFeesCurrent" xlink:title="label: AccruedAuditFeesCurrent to label_AccruedAuditFeesCurrent"/>
    <label xlink:type="resource" xlink:label="label_AccruedAuditFeesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccruedAuditFeesCurrent" xml:lang="en-US" id="label_AccruedAuditFeesCurrent_2">Accrued Audit Fees Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedAuditFeesCurrent" xlink:to="label_AccruedAuditFeesCurrent_2" xlink:title="label: AccruedAuditFeesCurrent to label_AccruedAuditFeesCurrent"/>
    <label xlink:type="resource" xlink:label="label_AccruedAuditFeesCurrent_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccruedAuditFeesCurrent" xml:lang="en-US" id="label_AccruedAuditFeesCurrent_3">Accrued audit fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedAuditFeesCurrent" xlink:to="label_AccruedAuditFeesCurrent_3" xlink:title="label: AccruedAuditFeesCurrent to label_AccruedAuditFeesCurrent"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedDirectorsCompensation" xlink:label="AccruedDirectorsCompensation" xlink:title="AccruedDirectorsCompensation"/>
    <label xlink:type="resource" xlink:label="label_AccruedDirectorsCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccruedDirectorsCompensation" xml:lang="en-US" id="label_AccruedDirectorsCompensation_3">Carrying value as of the balance sheet date of the obligations incurred through that date and payable for directors' services provided.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedDirectorsCompensation" xlink:to="label_AccruedDirectorsCompensation" xlink:title="label: AccruedDirectorsCompensation to label_AccruedDirectorsCompensation"/>
    <label xlink:type="resource" xlink:label="label_AccruedDirectorsCompensation_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccruedDirectorsCompensation" xml:lang="en-US" id="label_AccruedDirectorsCompensation">Accrued Directors Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedDirectorsCompensation" xlink:to="label_AccruedDirectorsCompensation_2" xlink:title="label: AccruedDirectorsCompensation to label_AccruedDirectorsCompensation"/>
    <label xlink:type="resource" xlink:label="label_AccruedDirectorsCompensation_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccruedDirectorsCompensation" xml:lang="en-US" id="label_AccruedDirectorsCompensation_2">Accrued compensation to non-executive directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedDirectorsCompensation" xlink:to="label_AccruedDirectorsCompensation_3" xlink:title="label: AccruedDirectorsCompensation to label_AccruedDirectorsCompensation"/>
    <label xlink:type="resource" xlink:label="label_AccruedDirectorsCompensation_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AccruedDirectorsCompensation" xml:lang="en-US" id="label_AccruedDirectorsCompensation_4">Accrued compensation to directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedDirectorsCompensation" xlink:to="label_AccruedDirectorsCompensation_4" xlink:title="label: AccruedDirectorsCompensation to label_AccruedDirectorsCompensation"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:label="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill">Accumulated amortization of intangible assets at the end of the reporting period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:to="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="label: AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill to label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_2">Accumulated Amortization Of Intangible Assets Other Than Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:to="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_2" xlink:title="label: AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill to label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_3" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:title="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_3">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:to="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_3" xlink:title="label: AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill to label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_4" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:title="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_4">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:to="label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill_4" xlink:title="label: AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill to label_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationPropertyPlantAndEquipment">Amount of accumulated depreciation for physical assets used in the normal conduct of business to produce goods and services.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="label: AccumulatedDepreciationPropertyPlantAndEquipment to label_AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationPropertyPlantAndEquipment_2">Accumulated Depreciation Property Plant And Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationPropertyPlantAndEquipment_2" xlink:title="label: AccumulatedDepreciationPropertyPlantAndEquipment to label_AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationPropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:title="label_AccumulatedDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationPropertyPlantAndEquipment_3">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationPropertyPlantAndEquipment_3" xlink:title="label: AccumulatedDepreciationPropertyPlantAndEquipment to label_AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationPropertyPlantAndEquipment_4" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:title="label_AccumulatedDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationPropertyPlantAndEquipment_4">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationPropertyPlantAndEquipment_4" xlink:title="label: AccumulatedDepreciationPropertyPlantAndEquipment to label_AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment">Amount of decrease in accumulated depreciation as a result of sale or disposal of property, plant and equipment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:title="label: AccumulatedDepreciationSaleOfPropertyPlantAndEquipment to label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_2">Accumulated Depreciation Sale Of Property Plant And Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_2" xlink:title="label: AccumulatedDepreciationSaleOfPropertyPlantAndEquipment to label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_3">Sale of vessel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfPropertyPlantAndEquipment" xlink:to="label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment_3" xlink:title="label: AccumulatedDepreciationSaleOfPropertyPlantAndEquipment to label_AccumulatedDepreciationSaleOfPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationSaleOfSubsidiary" xlink:label="AccumulatedDepreciationSaleOfSubsidiary" xlink:title="AccumulatedDepreciationSaleOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedDepreciationSaleOfSubsidiary" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfSubsidiary">Amount of decrease in accumulated depreciation as a result of sale of subsidiary.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfSubsidiary" xlink:to="label_AccumulatedDepreciationSaleOfSubsidiary" xlink:title="label: AccumulatedDepreciationSaleOfSubsidiary to label_AccumulatedDepreciationSaleOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationSaleOfSubsidiary" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfSubsidiary_2">Accumulated Depreciation Sale Of Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfSubsidiary" xlink:to="label_AccumulatedDepreciationSaleOfSubsidiary_2" xlink:title="label: AccumulatedDepreciationSaleOfSubsidiary to label_AccumulatedDepreciationSaleOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationSaleOfSubsidiary_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AccumulatedDepreciationSaleOfSubsidiary" xml:lang="en-US" id="label_AccumulatedDepreciationSaleOfSubsidiary_3">Sale of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationSaleOfSubsidiary" xlink:to="label_AccumulatedDepreciationSaleOfSubsidiary_3" xlink:title="label: AccumulatedDepreciationSaleOfSubsidiary to label_AccumulatedDepreciationSaleOfSubsidiary"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:label="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xml:lang="en-US" id="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts">Adjustments for depreciation expense of deferred dry-docking costs to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:to="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="label: AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts to label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xml:lang="en-US" id="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_2">Adjustments For Depreciation Expense Of Deferred Dry Docking Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:to="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_2" xlink:title="label: AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts to label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xml:lang="en-US" id="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_3">Depreciation of deferred dry docking costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:to="label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts_3" xlink:title="label: AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts to label_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:label="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables">Adjustments for increase (decrease) in accrued liabilities and other payables to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:to="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="label: AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables to label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_2">Adjustments For Increase Decrease In Accrued Liabilities And Other Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:to="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_2" xlink:title="label: AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables to label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_3">Accrued liabilities and other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:to="label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables_3" xlink:title="label: AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables to label_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:label="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue">Adjustments for increase (decrease) in deferred revenue to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:to="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="label: AdjustmentsForIncreaseDecreaseInDeferredRevenue to label_AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_2">Adjustments For Increase Decrease In Deferred Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:to="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_2" xlink:title="label: AdjustmentsForIncreaseDecreaseInDeferredRevenue to label_AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_3">Deferred revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:to="label_AdjustmentsForIncreaseDecreaseInDeferredRevenue_3" xlink:title="label: AdjustmentsForIncreaseDecreaseInDeferredRevenue to label_AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdministrativeExpenseRelatedPartyTransactions" xlink:label="AdministrativeExpenseRelatedPartyTransactions" xlink:title="AdministrativeExpenseRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpenseRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdministrativeExpenseRelatedPartyTransactions" xml:lang="en-US" id="label_AdministrativeExpenseRelatedPartyTransactions">The amount of expenses that the entity classifies as being administrative resulting from related party transactions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpenseRelatedPartyTransactions" xlink:to="label_AdministrativeExpenseRelatedPartyTransactions" xlink:title="label: AdministrativeExpenseRelatedPartyTransactions to label_AdministrativeExpenseRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpenseRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdministrativeExpenseRelatedPartyTransactions" xml:lang="en-US" id="label_AdministrativeExpenseRelatedPartyTransactions_2">Administrative Expense Related Party Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpenseRelatedPartyTransactions" xlink:to="label_AdministrativeExpenseRelatedPartyTransactions_2" xlink:title="label: AdministrativeExpenseRelatedPartyTransactions to label_AdministrativeExpenseRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpenseRelatedPartyTransactions_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdministrativeExpenseRelatedPartyTransactions" xml:lang="en-US" id="label_AdministrativeExpenseRelatedPartyTransactions_3">Administrative expenses payable to related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpenseRelatedPartyTransactions" xlink:to="label_AdministrativeExpenseRelatedPartyTransactions_3" xlink:title="label: AdministrativeExpenseRelatedPartyTransactions to label_AdministrativeExpenseRelatedPartyTransactions"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AffiliatedCompanyOfCompanysCEOMember" xlink:label="AffiliatedCompanyOfCompanysCEOMember" xlink:title="AffiliatedCompanyOfCompanysCEOMember"/>
    <label xlink:type="resource" xlink:label="label_AffiliatedCompanyOfCompanysCEOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AffiliatedCompanyOfCompanysCEOMember" xml:lang="en-US" id="label_AffiliatedCompanyOfCompanysCEOMember">Affiliated Company Of Companys CEO [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AffiliatedCompanyOfCompanysCEOMember" xlink:to="label_AffiliatedCompanyOfCompanysCEOMember" xlink:title="label: AffiliatedCompanyOfCompanysCEOMember to label_AffiliatedCompanyOfCompanysCEOMember"/>
    <label xlink:type="resource" xlink:label="label_AffiliatedCompanyOfCompanysCEOMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AffiliatedCompanyOfCompanysCEOMember" xml:lang="en-US" id="label_AffiliatedCompanyOfCompanysCEOMember_2">Affiliated Company of Company's CEO</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AffiliatedCompanyOfCompanysCEOMember" xlink:to="label_AffiliatedCompanyOfCompanysCEOMember_2" xlink:title="label: AffiliatedCompanyOfCompanysCEOMember to label_AffiliatedCompanyOfCompanysCEOMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AllowanceForDoubtfulTradeReceivables" xlink:label="AllowanceForDoubtfulTradeReceivables" xlink:title="AllowanceForDoubtfulTradeReceivables"/>
    <label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllowanceForDoubtfulTradeReceivables" xml:lang="en-US" id="label_AllowanceForDoubtfulTradeReceivables">A valuation allowance for trade receivables due from companies that are expected to be uncollectible.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulTradeReceivables" xlink:to="label_AllowanceForDoubtfulTradeReceivables" xlink:title="label: AllowanceForDoubtfulTradeReceivables to label_AllowanceForDoubtfulTradeReceivables"/>
    <label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulTradeReceivables_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForDoubtfulTradeReceivables" xml:lang="en-US" id="label_AllowanceForDoubtfulTradeReceivables_2">Allowance For Doubtful Trade Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulTradeReceivables" xlink:to="label_AllowanceForDoubtfulTradeReceivables_2" xlink:title="label: AllowanceForDoubtfulTradeReceivables to label_AllowanceForDoubtfulTradeReceivables"/>
    <label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulTradeReceivables_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForDoubtfulTradeReceivables" xml:lang="en-US" id="label_AllowanceForDoubtfulTradeReceivables_3">Provision for doubtful trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulTradeReceivables" xlink:to="label_AllowanceForDoubtfulTradeReceivables_3" xlink:title="label: AllowanceForDoubtfulTradeReceivables to label_AllowanceForDoubtfulTradeReceivables"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:label="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="ArtfulShipholdingSALongevityMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ArtfulShipholdingSALongevityMaritimeLimitedMember" xml:lang="en-US" id="label_ArtfulShipholdingSALongevityMaritimeLimitedMember">Artful Shipholding SA Longevity Maritime Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:to="label_ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="label: ArtfulShipholdingSALongevityMaritimeLimitedMember to label_ArtfulShipholdingSALongevityMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulShipholdingSALongevityMaritimeLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ArtfulShipholdingSALongevityMaritimeLimitedMember" xml:lang="en-US" id="label_ArtfulShipholdingSALongevityMaritimeLimitedMember_2">(d) Artful Shipholding S.A. &amp; Longevity Maritime Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:to="label_ArtfulShipholdingSALongevityMaritimeLimitedMember_2" xlink:title="label: ArtfulShipholdingSALongevityMaritimeLimitedMember to label_ArtfulShipholdingSALongevityMaritimeLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSAMember" xlink:label="ArtfulShipholdingSAMember" xlink:title="ArtfulShipholdingSAMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulShipholdingSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ArtfulShipholdingSAMember" xml:lang="en-US" id="label_ArtfulShipholdingSAMember">Artful Shipholding SA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulShipholdingSAMember" xlink:to="label_ArtfulShipholdingSAMember" xlink:title="label: ArtfulShipholdingSAMember to label_ArtfulShipholdingSAMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulShipholdingSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ArtfulShipholdingSAMember" xml:lang="en-US" id="label_ArtfulShipholdingSAMember_2">Artful Shipholding S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulShipholdingSAMember" xlink:to="label_ArtfulShipholdingSAMember_2" xlink:title="label: ArtfulShipholdingSAMember to label_ArtfulShipholdingSAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:label="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xml:lang="en-US" id="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates">The expected annual growth rate of time charter rates used as an assumption to determine the discounted future cash flows of each vessel.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:to="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="label: AssumptionOfAnnualGrowthRatesOfTimeCharterRates to label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xml:lang="en-US" id="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_2">Assumption Of Annual Growth Rates Of Time Charter Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:to="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_2" xlink:title="label: AssumptionOfAnnualGrowthRatesOfTimeCharterRates to label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xml:lang="en-US" id="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_3">Annual growth rate of time charter rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:to="label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates_3" xlink:title="label: AssumptionOfAnnualGrowthRatesOfTimeCharterRates to label_AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfExpectedRatesOfInflation" xlink:label="AssumptionOfExpectedRatesOfInflation" xlink:title="AssumptionOfExpectedRatesOfInflation"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfExpectedRatesOfInflation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssumptionOfExpectedRatesOfInflation" xml:lang="en-US" id="label_AssumptionOfExpectedRatesOfInflation">The expected rate of inflation that is used as an assumption to determine the discounted future cash flows of each vessel.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfExpectedRatesOfInflation" xlink:to="label_AssumptionOfExpectedRatesOfInflation" xlink:title="label: AssumptionOfExpectedRatesOfInflation to label_AssumptionOfExpectedRatesOfInflation"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfExpectedRatesOfInflation_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssumptionOfExpectedRatesOfInflation" xml:lang="en-US" id="label_AssumptionOfExpectedRatesOfInflation_2">Assumption Of Expected Rates Of Inflation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfExpectedRatesOfInflation" xlink:to="label_AssumptionOfExpectedRatesOfInflation_2" xlink:title="label: AssumptionOfExpectedRatesOfInflation to label_AssumptionOfExpectedRatesOfInflation"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfExpectedRatesOfInflation_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssumptionOfExpectedRatesOfInflation" xml:lang="en-US" id="label_AssumptionOfExpectedRatesOfInflation_3">Expected rate of inflation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfExpectedRatesOfInflation" xlink:to="label_AssumptionOfExpectedRatesOfInflation_3" xlink:title="label: AssumptionOfExpectedRatesOfInflation to label_AssumptionOfExpectedRatesOfInflation"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfFleetUtilisationRate" xlink:label="AssumptionOfFleetUtilisationRate" xlink:title="AssumptionOfFleetUtilisationRate"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfFleetUtilisationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssumptionOfFleetUtilisationRate" xml:lang="en-US" id="label_AssumptionOfFleetUtilisationRate">The expected fleet utilisation rate that is used as an assumption to determine the discounted future cash flows of each vessel.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfFleetUtilisationRate" xlink:to="label_AssumptionOfFleetUtilisationRate" xlink:title="label: AssumptionOfFleetUtilisationRate to label_AssumptionOfFleetUtilisationRate"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfFleetUtilisationRate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssumptionOfFleetUtilisationRate" xml:lang="en-US" id="label_AssumptionOfFleetUtilisationRate_2">Assumption Of Fleet Utilisation Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfFleetUtilisationRate" xlink:to="label_AssumptionOfFleetUtilisationRate_2" xlink:title="label: AssumptionOfFleetUtilisationRate to label_AssumptionOfFleetUtilisationRate"/>
    <label xlink:type="resource" xlink:label="label_AssumptionOfFleetUtilisationRate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssumptionOfFleetUtilisationRate" xml:lang="en-US" id="label_AssumptionOfFleetUtilisationRate_3">Expected fleet utilisation rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionOfFleetUtilisationRate" xlink:to="label_AssumptionOfFleetUtilisationRate_3" xlink:title="label: AssumptionOfFleetUtilisationRate to label_AssumptionOfFleetUtilisationRate"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross">Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross_2">Long -term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross_2" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross_3">Loan Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross_3" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross_4">Interest bearing loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross_4" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross_5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross_5">Less: Cash and bank balances and bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross_5" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsGross_6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_BorrowingsGross" xml:lang="en-US" id="label_BorrowingsGross_6">Interest bearing loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsGross" xlink:to="label_BorrowingsGross_6" xlink:title="label: BorrowingsGross to label_BorrowingsGross"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BunkerInventoryCurrent" xlink:label="BunkerInventoryCurrent" xlink:title="BunkerInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_BunkerInventoryCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BunkerInventoryCurrent" xml:lang="en-US" id="label_BunkerInventoryCurrent">Carrying amount as of the balance sheet date of bunkers' inventory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BunkerInventoryCurrent" xlink:to="label_BunkerInventoryCurrent" xlink:title="label: BunkerInventoryCurrent to label_BunkerInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_BunkerInventoryCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BunkerInventoryCurrent" xml:lang="en-US" id="label_BunkerInventoryCurrent_2">Bunker Inventory Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BunkerInventoryCurrent" xlink:to="label_BunkerInventoryCurrent_2" xlink:title="label: BunkerInventoryCurrent to label_BunkerInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_BunkerInventoryCurrent_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BunkerInventoryCurrent" xml:lang="en-US" id="label_BunkerInventoryCurrent_3">Bunkers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BunkerInventoryCurrent" xlink:to="label_BunkerInventoryCurrent_3" xlink:title="label: BunkerInventoryCurrent to label_BunkerInventoryCurrent"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CarryingAmountIMember" xlink:label="CarryingAmountIMember" xlink:title="CarryingAmountIMember"/>
    <label xlink:type="resource" xlink:label="label_CarryingAmountIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CarryingAmountIMember" xml:lang="en-US" id="label_CarryingAmountIMember">This member stands for the amount at which an asset is recognised in the statement of financial position (after deducting any accumulated depreciation or amortisation and accumulated impairment losses).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountIMember" xlink:to="label_CarryingAmountIMember" xlink:title="label: CarryingAmountIMember to label_CarryingAmountIMember"/>
    <label xlink:type="resource" xlink:label="label_CarryingAmountIMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingAmountIMember" xml:lang="en-US" id="label_CarryingAmountIMember_2">Carrying Amount I [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountIMember" xlink:to="label_CarryingAmountIMember_2" xlink:title="label: CarryingAmountIMember to label_CarryingAmountIMember"/>
    <label xlink:type="resource" xlink:label="label_CarryingAmountIMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CarryingAmountIMember" xml:lang="en-US" id="label_CarryingAmountIMember_3">Carrying Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountIMember" xlink:to="label_CarryingAmountIMember_3" xlink:title="label: CarryingAmountIMember to label_CarryingAmountIMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashAndCashEquivalentsFairValueDisclosure" xlink:label="CashAndCashEquivalentsFairValueDisclosure" xlink:title="CashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_CashAndCashEquivalentsFairValueDisclosure">Cash And Cash Equivalents Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsFairValueDisclosure" xlink:to="label_CashAndCashEquivalentsFairValueDisclosure" xlink:title="label: CashAndCashEquivalentsFairValueDisclosure to label_CashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsFairValueDisclosure_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_CashAndCashEquivalentsFairValueDisclosure_2">Fair value of cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsFairValueDisclosure" xlink:to="label_CashAndCashEquivalentsFairValueDisclosure_2" xlink:title="label: CashAndCashEquivalentsFairValueDisclosure to label_CashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsFairValueDisclosure_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_CashAndCashEquivalentsFairValueDisclosure_3">Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsFairValueDisclosure" xlink:to="label_CashAndCashEquivalentsFairValueDisclosure_3" xlink:title="label: CashAndCashEquivalentsFairValueDisclosure to label_CashAndCashEquivalentsFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:label="label_ChiefExecutiveOfficerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChiefExecutiveOfficerMember" xml:lang="en-US" id="label_ChiefExecutiveOfficerMember">Chief Executive Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChiefExecutiveOfficerMember" xlink:to="label_ChiefExecutiveOfficerMember" xlink:title="label: ChiefExecutiveOfficerMember to label_ChiefExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:label="label_ChiefExecutiveOfficerMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChiefExecutiveOfficerMember" xml:lang="en-US" id="label_ChiefExecutiveOfficerMember_2">Chief Executive Officer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChiefExecutiveOfficerMember" xlink:to="label_ChiefExecutiveOfficerMember_2" xlink:title="label: ChiefExecutiveOfficerMember to label_ChiefExecutiveOfficerMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesMember" xlink:label="ClassBCommonSharesMember" xlink:title="ClassBCommonSharesMember"/>
    <label xlink:type="resource" xlink:label="label_ClassBCommonSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassBCommonSharesMember" xml:lang="en-US" id="label_ClassBCommonSharesMember">Class B Common Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassBCommonSharesMember" xlink:to="label_ClassBCommonSharesMember" xlink:title="label: ClassBCommonSharesMember to label_ClassBCommonSharesMember"/>
    <label xlink:type="resource" xlink:label="label_ClassBCommonSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassBCommonSharesMember" xml:lang="en-US" id="label_ClassBCommonSharesMember_2">Class B Common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassBCommonSharesMember" xlink:to="label_ClassBCommonSharesMember_2" xlink:title="label: ClassBCommonSharesMember to label_ClassBCommonSharesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentInsuranceDeductibles" xlink:label="CurrentInsuranceDeductibles" xlink:title="CurrentInsuranceDeductibles"/>
    <label xlink:type="resource" xlink:label="label_CurrentInsuranceDeductibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentInsuranceDeductibles" xml:lang="en-US" id="label_CurrentInsuranceDeductibles">The amount of current insurance deductibles payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInsuranceDeductibles" xlink:to="label_CurrentInsuranceDeductibles" xlink:title="label: CurrentInsuranceDeductibles to label_CurrentInsuranceDeductibles"/>
    <label xlink:type="resource" xlink:label="label_CurrentInsuranceDeductibles_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentInsuranceDeductibles" xml:lang="en-US" id="label_CurrentInsuranceDeductibles_2">Current Insurance Deductibles</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInsuranceDeductibles" xlink:to="label_CurrentInsuranceDeductibles_2" xlink:title="label: CurrentInsuranceDeductibles to label_CurrentInsuranceDeductibles"/>
    <label xlink:type="resource" xlink:label="label_CurrentInsuranceDeductibles_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentInsuranceDeductibles" xml:lang="en-US" id="label_CurrentInsuranceDeductibles_3">Insurance deductibles</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInsuranceDeductibles" xlink:to="label_CurrentInsuranceDeductibles_3" xlink:title="label: CurrentInsuranceDeductibles to label_CurrentInsuranceDeductibles"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:label="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount">The current portion of debt discount, after accumulated amortization.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:to="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="label: CurrentPortionOfDebtInstrumentUnamortisedDiscount to label_CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_2">Current Portion Of Debt Instrument Unamortised Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:to="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_2" xlink:title="label: CurrentPortionOfDebtInstrumentUnamortisedDiscount to label_CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_3">Unamortized Debt Discount- Current Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:to="label_CurrentPortionOfDebtInstrumentUnamortisedDiscount_3" xlink:title="label: CurrentPortionOfDebtInstrumentUnamortisedDiscount to label_CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfLongTermBorrowingsGross" xlink:label="CurrentPortionOfLongTermBorrowingsGross" xlink:title="CurrentPortionOfLongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongTermBorrowingsGross_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentPortionOfLongTermBorrowingsGross" xml:lang="en-US" id="label_CurrentPortionOfLongTermBorrowingsGross_2">The current portion of  long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongTermBorrowingsGross" xlink:to="label_CurrentPortionOfLongTermBorrowingsGross_2" xlink:title="label: CurrentPortionOfLongTermBorrowingsGross to label_CurrentPortionOfLongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongTermBorrowingsGross_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPortionOfLongTermBorrowingsGross" xml:lang="en-US" id="label_CurrentPortionOfLongTermBorrowingsGross_3">Current Portion Of Long term Borrowings Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongTermBorrowingsGross" xlink:to="label_CurrentPortionOfLongTermBorrowingsGross_3" xlink:title="label: CurrentPortionOfLongTermBorrowingsGross to label_CurrentPortionOfLongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongTermBorrowingsGross_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPortionOfLongTermBorrowingsGross" xml:lang="en-US" id="label_CurrentPortionOfLongTermBorrowingsGross_4">Loan Balance - Current Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongTermBorrowingsGross" xlink:to="label_CurrentPortionOfLongTermBorrowingsGross_4" xlink:title="label: CurrentPortionOfLongTermBorrowingsGross to label_CurrentPortionOfLongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongTermBorrowingsGross" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentPortionOfLongTermBorrowingsGross" xml:lang="en-US" id="label_CurrentPortionOfLongTermBorrowingsGross">Loan Balance - Current Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongTermBorrowingsGross" xlink:to="label_CurrentPortionOfLongTermBorrowingsGross" xlink:title="label: CurrentPortionOfLongTermBorrowingsGross to label_CurrentPortionOfLongTermBorrowingsGross"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CyberonicaSAMember" xlink:label="CyberonicaSAMember" xlink:title="CyberonicaSAMember"/>
    <label xlink:type="resource" xlink:label="label_CyberonicaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CyberonicaSAMember" xml:lang="en-US" id="label_CyberonicaSAMember">Cyberonica S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CyberonicaSAMember" xlink:to="label_CyberonicaSAMember" xlink:title="label: CyberonicaSAMember to label_CyberonicaSAMember"/>
    <label xlink:type="resource" xlink:label="label_CyberonicaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CyberonicaSAMember" xml:lang="en-US" id="label_CyberonicaSAMember_2">Cyberonica S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CyberonicaSAMember" xlink:to="label_CyberonicaSAMember_2" xlink:title="label: CyberonicaSAMember to label_CyberonicaSAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DailyConsultingFeeIncome" xlink:label="DailyConsultingFeeIncome" xlink:title="DailyConsultingFeeIncome"/>
    <label xlink:type="resource" xlink:label="label_DailyConsultingFeeIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DailyConsultingFeeIncome" xml:lang="en-US" id="label_DailyConsultingFeeIncome">Daily Consulting Fee Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyConsultingFeeIncome" xlink:to="label_DailyConsultingFeeIncome" xlink:title="label: DailyConsultingFeeIncome to label_DailyConsultingFeeIncome"/>
    <label xlink:type="resource" xlink:label="label_DailyConsultingFeeIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DailyConsultingFeeIncome" xml:lang="en-US" id="label_DailyConsultingFeeIncome_2">Daily consulting fee income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyConsultingFeeIncome" xlink:to="label_DailyConsultingFeeIncome_2" xlink:title="label: DailyConsultingFeeIncome to label_DailyConsultingFeeIncome"/>
    <label xlink:type="resource" xlink:label="label_DailyConsultingFeeIncome_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DailyConsultingFeeIncome" xml:lang="en-US" id="label_DailyConsultingFeeIncome_3">The amount of daily income relating to consulting fee income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyConsultingFeeIncome" xlink:to="label_DailyConsultingFeeIncome_3" xlink:title="label: DailyConsultingFeeIncome to label_DailyConsultingFeeIncome"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodAxis" xlink:label="DebtInstrumentPaymentPeriodAxis" xlink:title="DebtInstrumentPaymentPeriodAxis"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentPaymentPeriodAxis" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodAxis">Information about timing of debt payments features under terms of the debt agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodAxis" xlink:to="label_DebtInstrumentPaymentPeriodAxis" xlink:title="label: DebtInstrumentPaymentPeriodAxis to label_DebtInstrumentPaymentPeriodAxis"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodAxis_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodAxis" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodAxis_2">Debt Instrument Payment Period [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodAxis" xlink:to="label_DebtInstrumentPaymentPeriodAxis_2" xlink:title="label: DebtInstrumentPaymentPeriodAxis to label_DebtInstrumentPaymentPeriodAxis"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodMember" xlink:label="DebtInstrumentPaymentPeriodMember" xlink:title="DebtInstrumentPaymentPeriodMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentPaymentPeriodMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodMember">Period as defined under terms of the debt agreement for debt payment features.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodMember" xlink:to="label_DebtInstrumentPaymentPeriodMember" xlink:title="label: DebtInstrumentPaymentPeriodMember to label_DebtInstrumentPaymentPeriodMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodMember_2">Debt Instrument Payment Period [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodMember" xlink:to="label_DebtInstrumentPaymentPeriodMember_2" xlink:title="label: DebtInstrumentPaymentPeriodMember to label_DebtInstrumentPaymentPeriodMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodOneMember" xlink:label="DebtInstrumentPaymentPeriodOneMember" xlink:title="DebtInstrumentPaymentPeriodOneMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentPaymentPeriodOneMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodOneMember">Period one representing not later than one year period of debt payment under terms of the debt agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodOneMember" xlink:to="label_DebtInstrumentPaymentPeriodOneMember" xlink:title="label: DebtInstrumentPaymentPeriodOneMember to label_DebtInstrumentPaymentPeriodOneMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodOneMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodOneMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodOneMember_2">Debt Instrument Payment Period One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodOneMember" xlink:to="label_DebtInstrumentPaymentPeriodOneMember_2" xlink:title="label: DebtInstrumentPaymentPeriodOneMember to label_DebtInstrumentPaymentPeriodOneMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodOneMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodOneMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodOneMember_3">Not later than one year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodOneMember" xlink:to="label_DebtInstrumentPaymentPeriodOneMember_3" xlink:title="label: DebtInstrumentPaymentPeriodOneMember to label_DebtInstrumentPaymentPeriodOneMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodThreeMember" xlink:label="DebtInstrumentPaymentPeriodThreeMember" xlink:title="DebtInstrumentPaymentPeriodThreeMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodThreeMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodThreeMember_2">Debt Instrument Payment Period Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodThreeMember" xlink:to="label_DebtInstrumentPaymentPeriodThreeMember_2" xlink:title="label: DebtInstrumentPaymentPeriodThreeMember to label_DebtInstrumentPaymentPeriodThreeMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodThreeMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodThreeMember">Later than two years and not later than three years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodThreeMember" xlink:to="label_DebtInstrumentPaymentPeriodThreeMember" xlink:title="label: DebtInstrumentPaymentPeriodThreeMember to label_DebtInstrumentPaymentPeriodThreeMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodTwoMember" xlink:label="DebtInstrumentPaymentPeriodTwoMember" xlink:title="DebtInstrumentPaymentPeriodTwoMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodTwoMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodTwoMember">Debt Instrument Payment Period Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodTwoMember" xlink:to="label_DebtInstrumentPaymentPeriodTwoMember" xlink:title="label: DebtInstrumentPaymentPeriodTwoMember to label_DebtInstrumentPaymentPeriodTwoMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodTwoMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodTwoMember_2">Later than one year and not later than two years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodTwoMember" xlink:to="label_DebtInstrumentPaymentPeriodTwoMember_2" xlink:title="label: DebtInstrumentPaymentPeriodTwoMember to label_DebtInstrumentPaymentPeriodTwoMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentUnamortisedDiscount" xlink:label="DebtInstrumentUnamortisedDiscount" xlink:title="DebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentUnamortisedDiscount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_DebtInstrumentUnamortisedDiscount">Amount, after accumulated amortization, of debt discount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentUnamortisedDiscount" xlink:to="label_DebtInstrumentUnamortisedDiscount" xlink:title="label: DebtInstrumentUnamortisedDiscount to label_DebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentUnamortisedDiscount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_DebtInstrumentUnamortisedDiscount_2">Debt Instrument Unamortised Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentUnamortisedDiscount" xlink:to="label_DebtInstrumentUnamortisedDiscount_2" xlink:title="label: DebtInstrumentUnamortisedDiscount to label_DebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentUnamortisedDiscount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_DebtInstrumentUnamortisedDiscount_3">Unamortized Debt Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentUnamortisedDiscount" xlink:to="label_DebtInstrumentUnamortisedDiscount_3" xlink:title="label: DebtInstrumentUnamortisedDiscount to label_DebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentUnamortisedDiscount_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_DebtInstrumentUnamortisedDiscount_4">Add: Unamortized debt discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentUnamortisedDiscount" xlink:to="label_DebtInstrumentUnamortisedDiscount_4" xlink:title="label: DebtInstrumentUnamortisedDiscount to label_DebtInstrumentUnamortisedDiscount"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfDryDockingCosts" xlink:label="DepreciationOfDryDockingCosts" xlink:title="DepreciationOfDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfDryDockingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DepreciationOfDryDockingCosts" xml:lang="en-US" id="label_DepreciationOfDryDockingCosts">The amount of depreciation of dry-docking costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfDryDockingCosts" xlink:to="label_DepreciationOfDryDockingCosts" xlink:title="label: DepreciationOfDryDockingCosts to label_DepreciationOfDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfDryDockingCosts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationOfDryDockingCosts" xml:lang="en-US" id="label_DepreciationOfDryDockingCosts_2">Depreciation Of Dry Docking Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfDryDockingCosts" xlink:to="label_DepreciationOfDryDockingCosts_2" xlink:title="label: DepreciationOfDryDockingCosts to label_DepreciationOfDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfDryDockingCosts_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationOfDryDockingCosts" xml:lang="en-US" id="label_DepreciationOfDryDockingCosts_3">Depreciation of dry docking costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfDryDockingCosts" xlink:to="label_DepreciationOfDryDockingCosts_3" xlink:title="label: DepreciationOfDryDockingCosts to label_DepreciationOfDryDockingCosts"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfficeFurnitureAndEquipment" xlink:label="DepreciationOfficeFurnitureAndEquipment" xlink:title="DepreciationOfficeFurnitureAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfficeFurnitureAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DepreciationOfficeFurnitureAndEquipment" xml:lang="en-US" id="label_DepreciationOfficeFurnitureAndEquipment">The amount of depreciation of office furniture and equipment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfficeFurnitureAndEquipment" xlink:to="label_DepreciationOfficeFurnitureAndEquipment" xlink:title="label: DepreciationOfficeFurnitureAndEquipment to label_DepreciationOfficeFurnitureAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfficeFurnitureAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationOfficeFurnitureAndEquipment" xml:lang="en-US" id="label_DepreciationOfficeFurnitureAndEquipment_2">Depreciation Office Furniture And Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfficeFurnitureAndEquipment" xlink:to="label_DepreciationOfficeFurnitureAndEquipment_2" xlink:title="label: DepreciationOfficeFurnitureAndEquipment to label_DepreciationOfficeFurnitureAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationOfficeFurnitureAndEquipment_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationOfficeFurnitureAndEquipment" xml:lang="en-US" id="label_DepreciationOfficeFurnitureAndEquipment_3">Depreciation on office furniture and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationOfficeFurnitureAndEquipment" xlink:to="label_DepreciationOfficeFurnitureAndEquipment_3" xlink:title="label: DepreciationOfficeFurnitureAndEquipment to label_DepreciationOfficeFurnitureAndEquipment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:label="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <label xlink:type="resource" xlink:label="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xml:lang="en-US" id="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember">Devocean Maritime Ltd Domina Maritime Ltd Dulac Maritime SA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:to="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="label: DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember to label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <label xlink:type="resource" xlink:label="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xml:lang="en-US" id="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_2">(a) Devocean Maritime Ltd., Domina Maritime Ltd. &amp; Dulac Maritime S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:to="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_2" xlink:title="label: DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember to label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <label xlink:type="resource" xlink:label="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xml:lang="en-US" id="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_3">Devocean Maritime LTD., Domina Maritime LTD. &amp; Dulac Maritime S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:to="label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember_3" xlink:title="label: DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember to label_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdMember" xlink:label="DevoceanMaritimeLtdMember" xlink:title="DevoceanMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_DevoceanMaritimeLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DevoceanMaritimeLtdMember" xml:lang="en-US" id="label_DevoceanMaritimeLtdMember">Devocean Maritime Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevoceanMaritimeLtdMember" xlink:to="label_DevoceanMaritimeLtdMember" xlink:title="label: DevoceanMaritimeLtdMember to label_DevoceanMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_DevoceanMaritimeLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DevoceanMaritimeLtdMember" xml:lang="en-US" id="label_DevoceanMaritimeLtdMember_2">Devocean Maritime Ltd.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevoceanMaritimeLtdMember" xlink:to="label_DevoceanMaritimeLtdMember_2" xlink:title="label: DevoceanMaritimeLtdMember to label_DevoceanMaritimeLtdMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DocumentEntityInformationAbstract" xlink:label="DocumentEntityInformationAbstract" xlink:title="DocumentEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:label="label_DocumentEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentEntityInformationAbstract" xml:lang="en-US" id="label_DocumentEntityInformationAbstract">Document Entity Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentEntityInformationAbstract" xlink:to="label_DocumentEntityInformationAbstract" xlink:title="label: DocumentEntityInformationAbstract to label_DocumentEntityInformationAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DominaMaritimeLtdMember" xlink:label="DominaMaritimeLtdMember" xlink:title="DominaMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_DominaMaritimeLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DominaMaritimeLtdMember" xml:lang="en-US" id="label_DominaMaritimeLtdMember">Domina Maritime Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DominaMaritimeLtdMember" xlink:to="label_DominaMaritimeLtdMember" xlink:title="label: DominaMaritimeLtdMember to label_DominaMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_DominaMaritimeLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DominaMaritimeLtdMember" xml:lang="en-US" id="label_DominaMaritimeLtdMember_2">Domina Maritime Ltd.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DominaMaritimeLtdMember" xlink:to="label_DominaMaritimeLtdMember_2" xlink:title="label: DominaMaritimeLtdMember to label_DominaMaritimeLtdMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DryDockingMember" xlink:label="DryDockingMember" xlink:title="DryDockingMember"/>
    <label xlink:type="resource" xlink:label="label_DryDockingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DryDockingMember" xml:lang="en-US" id="label_DryDockingMember">Dry Docking [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DryDockingMember" xlink:to="label_DryDockingMember" xlink:title="label: DryDockingMember to label_DryDockingMember"/>
    <label xlink:type="resource" xlink:label="label_DryDockingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DryDockingMember" xml:lang="en-US" id="label_DryDockingMember_2">Dry docking</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DryDockingMember" xlink:to="label_DryDockingMember_2" xlink:title="label: DryDockingMember to label_DryDockingMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DulacMaritimeSAMember" xlink:label="DulacMaritimeSAMember" xlink:title="DulacMaritimeSAMember"/>
    <label xlink:type="resource" xlink:label="label_DulacMaritimeSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DulacMaritimeSAMember" xml:lang="en-US" id="label_DulacMaritimeSAMember">Dulac Maritime SA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DulacMaritimeSAMember" xlink:to="label_DulacMaritimeSAMember" xlink:title="label: DulacMaritimeSAMember to label_DulacMaritimeSAMember"/>
    <label xlink:type="resource" xlink:label="label_DulacMaritimeSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DulacMaritimeSAMember" xml:lang="en-US" id="label_DulacMaritimeSAMember_2">Dulac Maritime S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DulacMaritimeSAMember" xlink:to="label_DulacMaritimeSAMember_2" xlink:title="label: DulacMaritimeSAMember to label_DulacMaritimeSAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ElysiumMaritimeLimitedMember" xlink:label="ElysiumMaritimeLimitedMember" xlink:title="ElysiumMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_ElysiumMaritimeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ElysiumMaritimeLimitedMember" xml:lang="en-US" id="label_ElysiumMaritimeLimitedMember">Elysium Maritime Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElysiumMaritimeLimitedMember" xlink:to="label_ElysiumMaritimeLimitedMember" xlink:title="label: ElysiumMaritimeLimitedMember to label_ElysiumMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_ElysiumMaritimeLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ElysiumMaritimeLimitedMember" xml:lang="en-US" id="label_ElysiumMaritimeLimitedMember_2">Elysium Maritime Limited (The company was dissolved on August 24, 2016)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElysiumMaritimeLimitedMember" xlink:to="label_ElysiumMaritimeLimitedMember_2" xlink:title="label: ElysiumMaritimeLimitedMember to label_ElysiumMaritimeLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EnergyGlobeMember" xlink:label="EnergyGlobeMember" xlink:title="EnergyGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_EnergyGlobeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EnergyGlobeMember" xml:lang="en-US" id="label_EnergyGlobeMember">Energy Globe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnergyGlobeMember" xlink:to="label_EnergyGlobeMember" xlink:title="label: EnergyGlobeMember to label_EnergyGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_EnergyGlobeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EnergyGlobeMember" xml:lang="en-US" id="label_EnergyGlobeMember_2">Energy Globe</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnergyGlobeMember" xlink:to="label_EnergyGlobeMember_2" xlink:title="label: EnergyGlobeMember to label_EnergyGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_EnergyGlobeMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EnergyGlobeMember" xml:lang="en-US" id="label_EnergyGlobeMember_3">m/v Energy Globe</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnergyGlobeMember" xlink:to="label_EnergyGlobeMember_3" xlink:title="label: EnergyGlobeMember to label_EnergyGlobeMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EolosShipmanagementSAMember" xlink:label="EolosShipmanagementSAMember" xlink:title="EolosShipmanagementSAMember"/>
    <label xlink:type="resource" xlink:label="label_EolosShipmanagementSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EolosShipmanagementSAMember" xml:lang="en-US" id="label_EolosShipmanagementSAMember">Eolos Shipmanagement SA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EolosShipmanagementSAMember" xlink:to="label_EolosShipmanagementSAMember" xlink:title="label: EolosShipmanagementSAMember to label_EolosShipmanagementSAMember"/>
    <label xlink:type="resource" xlink:label="label_EolosShipmanagementSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EolosShipmanagementSAMember" xml:lang="en-US" id="label_EolosShipmanagementSAMember_2">Eolos Shipmanagement S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EolosShipmanagementSAMember" xlink:to="label_EolosShipmanagementSAMember_2" xlink:title="label: EolosShipmanagementSAMember to label_EolosShipmanagementSAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExecutiveDirectorsMember" xlink:label="ExecutiveDirectorsMember" xlink:title="ExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="label_ExecutiveDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExecutiveDirectorsMember" xml:lang="en-US" id="label_ExecutiveDirectorsMember">Executive Directors [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExecutiveDirectorsMember" xlink:to="label_ExecutiveDirectorsMember" xlink:title="label: ExecutiveDirectorsMember to label_ExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="label_ExecutiveDirectorsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExecutiveDirectorsMember" xml:lang="en-US" id="label_ExecutiveDirectorsMember_2">Executive Director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExecutiveDirectorsMember" xlink:to="label_ExecutiveDirectorsMember_2" xlink:title="label: ExecutiveDirectorsMember to label_ExecutiveDirectorsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <label xlink:type="resource" xlink:label="label_ExercisePriceOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceOfOutstandingWarrants" xml:lang="en-US" id="label_ExercisePriceOfOutstandingWarrants_3">The exercise price of outstanding warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceOfOutstandingWarrants" xlink:to="label_ExercisePriceOfOutstandingWarrants" xlink:title="label: ExercisePriceOfOutstandingWarrants to label_ExercisePriceOfOutstandingWarrants"/>
    <label xlink:type="resource" xlink:label="label_ExercisePriceOfOutstandingWarrants_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceOfOutstandingWarrants" xml:lang="en-US" id="label_ExercisePriceOfOutstandingWarrants">Exercise Price Of Outstanding Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceOfOutstandingWarrants" xlink:to="label_ExercisePriceOfOutstandingWarrants_2" xlink:title="label: ExercisePriceOfOutstandingWarrants to label_ExercisePriceOfOutstandingWarrants"/>
    <label xlink:type="resource" xlink:label="label_ExercisePriceOfOutstandingWarrants_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceOfOutstandingWarrants" xml:lang="en-US" id="label_ExercisePriceOfOutstandingWarrants_2">Warrants exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceOfOutstandingWarrants" xlink:to="label_ExercisePriceOfOutstandingWarrants_3" xlink:title="label: ExercisePriceOfOutstandingWarrants to label_ExercisePriceOfOutstandingWarrants"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExtraDepreciationPropertyPlantAndEquipment" xlink:label="ExtraDepreciationPropertyPlantAndEquipment" xlink:title="ExtraDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ExtraDepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExtraDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_ExtraDepreciationPropertyPlantAndEquipment">The extra depreciation expense recognised during the period, due to changes in scrap rates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraDepreciationPropertyPlantAndEquipment" xlink:to="label_ExtraDepreciationPropertyPlantAndEquipment" xlink:title="label: ExtraDepreciationPropertyPlantAndEquipment to label_ExtraDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ExtraDepreciationPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtraDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_ExtraDepreciationPropertyPlantAndEquipment_2">Extra Depreciation Property Plant And Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraDepreciationPropertyPlantAndEquipment" xlink:to="label_ExtraDepreciationPropertyPlantAndEquipment_2" xlink:title="label: ExtraDepreciationPropertyPlantAndEquipment to label_ExtraDepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ExtraDepreciationPropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtraDepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_ExtraDepreciationPropertyPlantAndEquipment_3">Increase / (decrease) in depreciation expense due to changes in scrap rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraDepreciationPropertyPlantAndEquipment" xlink:to="label_ExtraDepreciationPropertyPlantAndEquipment_3" xlink:title="label: ExtraDepreciationPropertyPlantAndEquipment to label_ExtraDepreciationPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfTimeCharterAttachedMember" xlink:label="FairValueOfTimeCharterAttachedMember" xlink:title="FairValueOfTimeCharterAttachedMember"/>
    <label xlink:type="resource" xlink:label="label_FairValueOfTimeCharterAttachedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfTimeCharterAttachedMember" xml:lang="en-US" id="label_FairValueOfTimeCharterAttachedMember">Fair Value Of Time Charter Attached [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfTimeCharterAttachedMember" xlink:to="label_FairValueOfTimeCharterAttachedMember" xlink:title="label: FairValueOfTimeCharterAttachedMember to label_FairValueOfTimeCharterAttachedMember"/>
    <label xlink:type="resource" xlink:label="label_FairValueOfTimeCharterAttachedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueOfTimeCharterAttachedMember" xml:lang="en-US" id="label_FairValueOfTimeCharterAttachedMember_2">Fair value of time charter attached</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfTimeCharterAttachedMember" xlink:to="label_FairValueOfTimeCharterAttachedMember_2" xlink:title="label: FairValueOfTimeCharterAttachedMember to label_FairValueOfTimeCharterAttachedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirmentTradingLimitedMember" xml:lang="en-US" id="label_FirmentTradingLimitedMember">Firment Trading Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedMember" xlink:to="label_FirmentTradingLimitedMember" xlink:title="label: FirmentTradingLimitedMember to label_FirmentTradingLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirmentTradingLimitedMember" xml:lang="en-US" id="label_FirmentTradingLimitedMember_2">Firment Trading Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedMember" xlink:to="label_FirmentTradingLimitedMember_2" xlink:title="label: FirmentTradingLimitedMember to label_FirmentTradingLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FirmentTradingLimitedMember" xml:lang="en-US" id="label_FirmentTradingLimitedMember_3">Globus Maritime Limited-Firment Trading Limited (note 4)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedMember" xlink:to="label_FirmentTradingLimitedMember_3" xlink:title="label: FirmentTradingLimitedMember to label_FirmentTradingLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GasCylindersInventoryCurrent" xlink:label="GasCylindersInventoryCurrent" xlink:title="GasCylindersInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_GasCylindersInventoryCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GasCylindersInventoryCurrent" xml:lang="en-US" id="label_GasCylindersInventoryCurrent">Carrying amount as of the balance sheet date of gas cylinder's inventory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasCylindersInventoryCurrent" xlink:to="label_GasCylindersInventoryCurrent" xlink:title="label: GasCylindersInventoryCurrent to label_GasCylindersInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_GasCylindersInventoryCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasCylindersInventoryCurrent" xml:lang="en-US" id="label_GasCylindersInventoryCurrent_2">Gas Cylinders Inventory Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasCylindersInventoryCurrent" xlink:to="label_GasCylindersInventoryCurrent_2" xlink:title="label: GasCylindersInventoryCurrent to label_GasCylindersInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_GasCylindersInventoryCurrent_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasCylindersInventoryCurrent" xml:lang="en-US" id="label_GasCylindersInventoryCurrent_3">Gas cylinders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasCylindersInventoryCurrent" xlink:to="label_GasCylindersInventoryCurrent_3" xlink:title="label: GasCylindersInventoryCurrent to label_GasCylindersInventoryCurrent"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusShipmanagementCorpMember" xlink:label="GlobusShipmanagementCorpMember" xlink:title="GlobusShipmanagementCorpMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusShipmanagementCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GlobusShipmanagementCorpMember" xml:lang="en-US" id="label_GlobusShipmanagementCorpMember">Globus Shipmanagement Corp [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusShipmanagementCorpMember" xlink:to="label_GlobusShipmanagementCorpMember" xlink:title="label: GlobusShipmanagementCorpMember to label_GlobusShipmanagementCorpMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusShipmanagementCorpMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GlobusShipmanagementCorpMember" xml:lang="en-US" id="label_GlobusShipmanagementCorpMember_2">Globus Shipmanagement Corp.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusShipmanagementCorpMember" xlink:to="label_GlobusShipmanagementCorpMember_2" xlink:title="label: GlobusShipmanagementCorpMember to label_GlobusShipmanagementCorpMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:label="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInNumberOfPreferredSharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfPreferredSharesIssued">The increase (decrease) in the number of preferred shares issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="label: IncreaseDecreaseInNumberOfPreferredSharesIssued to label_IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfPreferredSharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_2">Increase Decrease In Number Of Preferred Shares Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_2" xlink:title="label: IncreaseDecreaseInNumberOfPreferredSharesIssued to label_IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfPreferredSharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_3">Issued during the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfPreferredSharesIssued_3" xlink:title="label: IncreaseDecreaseInNumberOfPreferredSharesIssued to label_IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDecreaseForgiveness" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LineOfCreditFacilityDecreaseForgiveness" xml:lang="en-US" id="label_LineOfCreditFacilityDecreaseForgiveness_3">Amount of decrease in line of credit facility from forgiveness by the holder of the line of credit.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDecreaseForgiveness" xlink:to="label_LineOfCreditFacilityDecreaseForgiveness" xlink:title="label: LineOfCreditFacilityDecreaseForgiveness to label_LineOfCreditFacilityDecreaseForgiveness"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDecreaseForgiveness_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityDecreaseForgiveness" xml:lang="en-US" id="label_LineOfCreditFacilityDecreaseForgiveness">Line Of Credit Facility Decrease Forgiveness</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDecreaseForgiveness" xlink:to="label_LineOfCreditFacilityDecreaseForgiveness_2" xlink:title="label: LineOfCreditFacilityDecreaseForgiveness to label_LineOfCreditFacilityDecreaseForgiveness"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDecreaseForgiveness_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityDecreaseForgiveness" xml:lang="en-US" id="label_LineOfCreditFacilityDecreaseForgiveness_2">Credit Facility, Decrease, Forgiveness</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDecreaseForgiveness" xlink:to="label_LineOfCreditFacilityDecreaseForgiveness_3" xlink:title="label: LineOfCreditFacilityDecreaseForgiveness to label_LineOfCreditFacilityDecreaseForgiveness"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:label="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LineOfCreditFacilityDrawndownAmountsMultiples" xml:lang="en-US" id="label_LineOfCreditFacilityDrawndownAmountsMultiples_3">The multiples of amounts that the company has the right to drawdown under the relevant credit facility.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:to="label_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="label: LineOfCreditFacilityDrawndownAmountsMultiples to label_LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDrawndownAmountsMultiples_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityDrawndownAmountsMultiples" xml:lang="en-US" id="label_LineOfCreditFacilityDrawndownAmountsMultiples">Line Of Credit Facility Drawndown Amounts Multiples</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:to="label_LineOfCreditFacilityDrawndownAmountsMultiples_2" xlink:title="label: LineOfCreditFacilityDrawndownAmountsMultiples to label_LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityDrawndownAmountsMultiples_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityDrawndownAmountsMultiples" xml:lang="en-US" id="label_LineOfCreditFacilityDrawndownAmountsMultiples_2">Credit Facility, Drawn down amounts multiples</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:to="label_LineOfCreditFacilityDrawndownAmountsMultiples_3" xlink:title="label: LineOfCreditFacilityDrawndownAmountsMultiples to label_LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity_3">Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity">Line Of Credit Facility Maximum Borrowing Capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity_3" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity_2">Credit Facility, Maximum borrowing capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity_4" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity_4">Loan Facility, Maximum borrowing capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermBorrowingsGross" xlink:label="LongTermBorrowingsGross" xlink:title="LongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_LongTermBorrowingsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LongTermBorrowingsGross" xml:lang="en-US" id="label_LongTermBorrowingsGross">The non-current portion of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermBorrowingsGross" xlink:to="label_LongTermBorrowingsGross" xlink:title="label: LongTermBorrowingsGross to label_LongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_LongTermBorrowingsGross_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongTermBorrowingsGross" xml:lang="en-US" id="label_LongTermBorrowingsGross_2">Long term Borrowings Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermBorrowingsGross" xlink:to="label_LongTermBorrowingsGross_2" xlink:title="label: LongTermBorrowingsGross to label_LongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_LongTermBorrowingsGross_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongTermBorrowingsGross" xml:lang="en-US" id="label_LongTermBorrowingsGross_3">Loan Balance - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermBorrowingsGross" xlink:to="label_LongTermBorrowingsGross_3" xlink:title="label: LongTermBorrowingsGross to label_LongTermBorrowingsGross"/>
    <label xlink:type="resource" xlink:label="label_LongTermBorrowingsGross_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LongTermBorrowingsGross" xml:lang="en-US" id="label_LongTermBorrowingsGross_4">Loan Balance - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermBorrowingsGross" xlink:to="label_LongTermBorrowingsGross_4" xlink:title="label: LongTermBorrowingsGross to label_LongTermBorrowingsGross"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermDebtInstrumentUnamortisedDiscount" xlink:label="LongTermDebtInstrumentUnamortisedDiscount" xlink:title="LongTermDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_LongTermDebtInstrumentUnamortisedDiscount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LongTermDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_LongTermDebtInstrumentUnamortisedDiscount">The non-current portion of debt discount, after accumulated amortization.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtInstrumentUnamortisedDiscount" xlink:to="label_LongTermDebtInstrumentUnamortisedDiscount" xlink:title="label: LongTermDebtInstrumentUnamortisedDiscount to label_LongTermDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_LongTermDebtInstrumentUnamortisedDiscount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongTermDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_LongTermDebtInstrumentUnamortisedDiscount_2">Long Term Debt Instrument Unamortised Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtInstrumentUnamortisedDiscount" xlink:to="label_LongTermDebtInstrumentUnamortisedDiscount_2" xlink:title="label: LongTermDebtInstrumentUnamortisedDiscount to label_LongTermDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_LongTermDebtInstrumentUnamortisedDiscount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongTermDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_LongTermDebtInstrumentUnamortisedDiscount_3">Unamortized Debt Discount - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtInstrumentUnamortisedDiscount" xlink:to="label_LongTermDebtInstrumentUnamortisedDiscount_3" xlink:title="label: LongTermDebtInstrumentUnamortisedDiscount to label_LongTermDebtInstrumentUnamortisedDiscount"/>
    <label xlink:type="resource" xlink:label="label_LongTermDebtInstrumentUnamortisedDiscount_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LongTermDebtInstrumentUnamortisedDiscount" xml:lang="en-US" id="label_LongTermDebtInstrumentUnamortisedDiscount_4">Unamortized Debt Discount - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtInstrumentUnamortisedDiscount" xlink:to="label_LongTermDebtInstrumentUnamortisedDiscount_4" xlink:title="label: LongTermDebtInstrumentUnamortisedDiscount to label_LongTermDebtInstrumentUnamortisedDiscount"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityMaritimeLimitedMember" xlink:label="LongevityMaritimeLimitedMember" xlink:title="LongevityMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_LongevityMaritimeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongevityMaritimeLimitedMember" xml:lang="en-US" id="label_LongevityMaritimeLimitedMember">Longevity Maritime Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongevityMaritimeLimitedMember" xlink:to="label_LongevityMaritimeLimitedMember" xlink:title="label: LongevityMaritimeLimitedMember to label_LongevityMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_LongevityMaritimeLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongevityMaritimeLimitedMember" xml:lang="en-US" id="label_LongevityMaritimeLimitedMember_2">Longevity Maritime Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongevityMaritimeLimitedMember" xlink:to="label_LongevityMaritimeLimitedMember_2" xlink:title="label: LongevityMaritimeLimitedMember to label_LongevityMaritimeLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LubricantsInventoryCurrent" xlink:label="LubricantsInventoryCurrent" xlink:title="LubricantsInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_LubricantsInventoryCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LubricantsInventoryCurrent" xml:lang="en-US" id="label_LubricantsInventoryCurrent">Carrying amount as of the balance sheet date of lubricants' inventory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsInventoryCurrent" xlink:to="label_LubricantsInventoryCurrent" xlink:title="label: LubricantsInventoryCurrent to label_LubricantsInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_LubricantsInventoryCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LubricantsInventoryCurrent" xml:lang="en-US" id="label_LubricantsInventoryCurrent_2">Lubricants Inventory Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsInventoryCurrent" xlink:to="label_LubricantsInventoryCurrent_2" xlink:title="label: LubricantsInventoryCurrent to label_LubricantsInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="label_LubricantsInventoryCurrent_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LubricantsInventoryCurrent" xml:lang="en-US" id="label_LubricantsInventoryCurrent_3">Lubricants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsInventoryCurrent" xlink:to="label_LubricantsInventoryCurrent_3" xlink:title="label: LubricantsInventoryCurrent to label_LubricantsInventoryCurrent"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyRentalExpense" xlink:label="MonthlyRentalExpense" xlink:title="MonthlyRentalExpense"/>
    <label xlink:type="resource" xlink:label="label_MonthlyRentalExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonthlyRentalExpense" xml:lang="en-US" id="label_MonthlyRentalExpense_3">The amount of monthly expense recognised on rental activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyRentalExpense" xlink:to="label_MonthlyRentalExpense" xlink:title="label: MonthlyRentalExpense to label_MonthlyRentalExpense"/>
    <label xlink:type="resource" xlink:label="label_MonthlyRentalExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonthlyRentalExpense" xml:lang="en-US" id="label_MonthlyRentalExpense">Monthly Rental Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyRentalExpense" xlink:to="label_MonthlyRentalExpense_2" xlink:title="label: MonthlyRentalExpense to label_MonthlyRentalExpense"/>
    <label xlink:type="resource" xlink:label="label_MonthlyRentalExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MonthlyRentalExpense" xml:lang="en-US" id="label_MonthlyRentalExpense_2">Monthly rental expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyRentalExpense" xlink:to="label_MonthlyRentalExpense_3" xlink:title="label: MonthlyRentalExpense to label_MonthlyRentalExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="label_NonExecutiveDirectorsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonExecutiveDirectorsMember" xml:lang="en-US" id="label_NonExecutiveDirectorsMember_3">Non Executive Directors [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonExecutiveDirectorsMember" xlink:to="label_NonExecutiveDirectorsMember_2" xlink:title="label: NonExecutiveDirectorsMember to label_NonExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="label_NonExecutiveDirectorsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonExecutiveDirectorsMember" xml:lang="en-US" id="label_NonExecutiveDirectorsMember">Non-Executive Directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonExecutiveDirectorsMember" xlink:to="label_NonExecutiveDirectorsMember_3" xlink:title="label: NonExecutiveDirectorsMember to label_NonExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="label_NonExecutiveDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NonExecutiveDirectorsMember" xml:lang="en-US" id="label_NonExecutiveDirectorsMember_2">Non-executive directors payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonExecutiveDirectorsMember" xlink:to="label_NonExecutiveDirectorsMember" xlink:title="label: NonExecutiveDirectorsMember to label_NonExecutiveDirectorsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments"/>
    <label xlink:type="resource" xlink:label="label_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfOperatingSegments" xml:lang="en-US" id="label_NumberOfOperatingSegments">Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="label_NumberOfOperatingSegments" xlink:title="label: NumberOfOperatingSegments to label_NumberOfOperatingSegments"/>
    <label xlink:type="resource" xlink:label="label_NumberOfOperatingSegments_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfOperatingSegments" xml:lang="en-US" id="label_NumberOfOperatingSegments_2">Number Of Operating Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="label_NumberOfOperatingSegments_2" xlink:title="label: NumberOfOperatingSegments to label_NumberOfOperatingSegments"/>
    <label xlink:type="resource" xlink:label="label_NumberOfOperatingSegments_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfOperatingSegments" xml:lang="en-US" id="label_NumberOfOperatingSegments_3">Number of Operating Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="label_NumberOfOperatingSegments_3" xlink:title="label: NumberOfOperatingSegments to label_NumberOfOperatingSegments"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesCalledByWarrants" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesCalledByWarrants" xml:lang="en-US" id="label_NumberOfSharesCalledByWarrants_3">Number of shares into which the warrants may be converted.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCalledByWarrants" xlink:to="label_NumberOfSharesCalledByWarrants" xlink:title="label: NumberOfSharesCalledByWarrants to label_NumberOfSharesCalledByWarrants"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesCalledByWarrants_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesCalledByWarrants" xml:lang="en-US" id="label_NumberOfSharesCalledByWarrants">Number Of Shares Called By Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCalledByWarrants" xlink:to="label_NumberOfSharesCalledByWarrants_2" xlink:title="label: NumberOfSharesCalledByWarrants to label_NumberOfSharesCalledByWarrants"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesCalledByWarrants_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesCalledByWarrants" xml:lang="en-US" id="label_NumberOfSharesCalledByWarrants_2">Number of shares called by warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCalledByWarrants" xlink:to="label_NumberOfSharesCalledByWarrants_3" xlink:title="label: NumberOfSharesCalledByWarrants to label_NumberOfSharesCalledByWarrants"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesHeldByControllingParty" xlink:label="NumberOfSharesHeldByControllingParty" xlink:title="NumberOfSharesHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByControllingParty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesHeldByControllingParty" xml:lang="en-US" id="label_NumberOfSharesHeldByControllingParty_3">The number of common shares held by the controlling party.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByControllingParty" xlink:to="label_NumberOfSharesHeldByControllingParty" xlink:title="label: NumberOfSharesHeldByControllingParty to label_NumberOfSharesHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByControllingParty_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesHeldByControllingParty" xml:lang="en-US" id="label_NumberOfSharesHeldByControllingParty">Number Of Shares Held By Controlling Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByControllingParty" xlink:to="label_NumberOfSharesHeldByControllingParty_2" xlink:title="label: NumberOfSharesHeldByControllingParty to label_NumberOfSharesHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByControllingParty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesHeldByControllingParty" xml:lang="en-US" id="label_NumberOfSharesHeldByControllingParty_2">Number of common shares held by the controlling party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByControllingParty" xlink:to="label_NumberOfSharesHeldByControllingParty_3" xlink:title="label: NumberOfSharesHeldByControllingParty to label_NumberOfSharesHeldByControllingParty"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherAccruals" xlink:label="OtherAccruals" xlink:title="OtherAccruals"/>
    <label xlink:type="resource" xlink:label="label_OtherAccruals" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherAccruals" xml:lang="en-US" id="label_OtherAccruals">The amount of accruals payable classified as other.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruals" xlink:to="label_OtherAccruals" xlink:title="label: OtherAccruals to label_OtherAccruals"/>
    <label xlink:type="resource" xlink:label="label_OtherAccruals_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAccruals" xml:lang="en-US" id="label_OtherAccruals_2">Other Accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruals" xlink:to="label_OtherAccruals_2" xlink:title="label: OtherAccruals to label_OtherAccruals"/>
    <label xlink:type="resource" xlink:label="label_OtherAccruals_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAccruals" xml:lang="en-US" id="label_OtherAccruals_3">Other accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruals" xlink:to="label_OtherAccruals_3" xlink:title="label: OtherAccruals to label_OtherAccruals"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PanamaxMember" xlink:label="PanamaxMember" xlink:title="PanamaxMember"/>
    <label xlink:type="resource" xlink:label="label_PanamaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PanamaxMember" xml:lang="en-US" id="label_PanamaxMember">Panamax [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PanamaxMember" xlink:to="label_PanamaxMember" xlink:title="label: PanamaxMember to label_PanamaxMember"/>
    <label xlink:type="resource" xlink:label="label_PanamaxMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PanamaxMember" xml:lang="en-US" id="label_PanamaxMember_2">Panamax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PanamaxMember" xlink:to="label_PanamaxMember_2" xlink:title="label: PanamaxMember to label_PanamaxMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PaymentsOfDeferredDryDockingCosts" xlink:label="PaymentsOfDeferredDryDockingCosts" xlink:title="PaymentsOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_PaymentsOfDeferredDryDockingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentsOfDeferredDryDockingCosts" xml:lang="en-US" id="label_PaymentsOfDeferredDryDockingCosts">The cash outflow for deferred dry-docking costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDeferredDryDockingCosts" xlink:to="label_PaymentsOfDeferredDryDockingCosts" xlink:title="label: PaymentsOfDeferredDryDockingCosts to label_PaymentsOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_PaymentsOfDeferredDryDockingCosts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfDeferredDryDockingCosts" xml:lang="en-US" id="label_PaymentsOfDeferredDryDockingCosts_2">Payments Of Deferred Dry Docking Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDeferredDryDockingCosts" xlink:to="label_PaymentsOfDeferredDryDockingCosts_2" xlink:title="label: PaymentsOfDeferredDryDockingCosts to label_PaymentsOfDeferredDryDockingCosts"/>
    <label xlink:type="resource" xlink:label="label_PaymentsOfDeferredDryDockingCosts_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsOfDeferredDryDockingCosts" xml:lang="en-US" id="label_PaymentsOfDeferredDryDockingCosts_3">Payment of deferred dry docking costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDeferredDryDockingCosts" xlink:to="label_PaymentsOfDeferredDryDockingCosts_3" xlink:title="label: PaymentsOfDeferredDryDockingCosts to label_PaymentsOfDeferredDryDockingCosts"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:label="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProportionOfOwnershipInterestsHeldByControllingParty" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByControllingParty_3">The proportion of ownership interests held by the controlling party.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:to="label_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="label: ProportionOfOwnershipInterestsHeldByControllingParty to label_ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByControllingParty_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestsHeldByControllingParty" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByControllingParty">Proportion Of Ownership Interests Held By Controlling Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:to="label_ProportionOfOwnershipInterestsHeldByControllingParty_2" xlink:title="label: ProportionOfOwnershipInterestsHeldByControllingParty to label_ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByControllingParty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfOwnershipInterestsHeldByControllingParty" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByControllingParty_2">Proportion of ownership interests held by the controlling party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:to="label_ProportionOfOwnershipInterestsHeldByControllingParty_3" xlink:title="label: ProportionOfOwnershipInterestsHeldByControllingParty to label_ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RentalAnnualIncreaseRateAboveInflation" xlink:label="RentalAnnualIncreaseRateAboveInflation" xlink:title="RentalAnnualIncreaseRateAboveInflation"/>
    <label xlink:type="resource" xlink:label="label_RentalAnnualIncreaseRateAboveInflation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RentalAnnualIncreaseRateAboveInflation" xml:lang="en-US" id="label_RentalAnnualIncreaseRateAboveInflation_3">The annual increase of the rental rate, above the rate of inflation as set by the Bank of Greece, according to the relevant rental agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAnnualIncreaseRateAboveInflation" xlink:to="label_RentalAnnualIncreaseRateAboveInflation" xlink:title="label: RentalAnnualIncreaseRateAboveInflation to label_RentalAnnualIncreaseRateAboveInflation"/>
    <label xlink:type="resource" xlink:label="label_RentalAnnualIncreaseRateAboveInflation_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RentalAnnualIncreaseRateAboveInflation" xml:lang="en-US" id="label_RentalAnnualIncreaseRateAboveInflation">Rental Annual Increase Rate Above Inflation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAnnualIncreaseRateAboveInflation" xlink:to="label_RentalAnnualIncreaseRateAboveInflation_2" xlink:title="label: RentalAnnualIncreaseRateAboveInflation to label_RentalAnnualIncreaseRateAboveInflation"/>
    <label xlink:type="resource" xlink:label="label_RentalAnnualIncreaseRateAboveInflation_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RentalAnnualIncreaseRateAboveInflation" xml:lang="en-US" id="label_RentalAnnualIncreaseRateAboveInflation_2">Rental annual increase rate above inflation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAnnualIncreaseRateAboveInflation" xlink:to="label_RentalAnnualIncreaseRateAboveInflation_3" xlink:title="label: RentalAnnualIncreaseRateAboveInflation to label_RentalAnnualIncreaseRateAboveInflation"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:label="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:title="RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedCashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsFairValueDisclosure">The fair value of cash and cash equivalent items which are restricted as to withdrawal or usage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:to="label_RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:title="label: RestrictedCashAndCashEquivalentsFairValueDisclosure to label_RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_2">Restricted Cash And Cash Equivalents Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:to="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_2" xlink:title="label: RestrictedCashAndCashEquivalentsFairValueDisclosure to label_RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashAndCashEquivalentsFairValueDisclosure" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_3">Fair value of restricted cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:to="label_RestrictedCashAndCashEquivalentsFairValueDisclosure_3" xlink:title="label: RestrictedCashAndCashEquivalentsFairValueDisclosure to label_RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ReverseStockSplitConversionRatio" xlink:label="ReverseStockSplitConversionRatio" xlink:title="ReverseStockSplitConversionRatio"/>
    <label xlink:type="resource" xlink:label="label_ReverseStockSplitConversionRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReverseStockSplitConversionRatio" xml:lang="en-US" id="label_ReverseStockSplitConversionRatio">Ratio applied to the conversion of a reverse stock split, for example two shares converted to one.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReverseStockSplitConversionRatio" xlink:to="label_ReverseStockSplitConversionRatio" xlink:title="label: ReverseStockSplitConversionRatio to label_ReverseStockSplitConversionRatio"/>
    <label xlink:type="resource" xlink:label="label_ReverseStockSplitConversionRatio_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReverseStockSplitConversionRatio" xml:lang="en-US" id="label_ReverseStockSplitConversionRatio_2">Reverse Stock Split Conversion Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReverseStockSplitConversionRatio" xlink:to="label_ReverseStockSplitConversionRatio_2" xlink:title="label: ReverseStockSplitConversionRatio to label_ReverseStockSplitConversionRatio"/>
    <label xlink:type="resource" xlink:label="label_ReverseStockSplitConversionRatio_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReverseStockSplitConversionRatio" xml:lang="en-US" id="label_ReverseStockSplitConversionRatio_3">Reverse stock split, Conversion ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReverseStockSplitConversionRatio" xlink:to="label_ReverseStockSplitConversionRatio_3" xlink:title="label: ReverseStockSplitConversionRatio to label_ReverseStockSplitConversionRatio"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <label xlink:type="resource" xlink:label="label_SeriesaPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeriesaPreferredSharesMember" xml:lang="en-US" id="label_SeriesaPreferredSharesMember">Seriesa Preferred Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeriesaPreferredSharesMember" xlink:to="label_SeriesaPreferredSharesMember" xlink:title="label: SeriesaPreferredSharesMember to label_SeriesaPreferredSharesMember"/>
    <label xlink:type="resource" xlink:label="label_SeriesaPreferredSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeriesaPreferredSharesMember" xml:lang="en-US" id="label_SeriesaPreferredSharesMember_2">Series A Preferred Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeriesaPreferredSharesMember" xlink:to="label_SeriesaPreferredSharesMember_2" xlink:title="label: SeriesaPreferredSharesMember to label_SeriesaPreferredSharesMember"/>
    <label xlink:type="resource" xlink:label="label_SeriesaPreferredSharesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeriesaPreferredSharesMember" xml:lang="en-US" id="label_SeriesaPreferredSharesMember_3">Series A Preferred Shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeriesaPreferredSharesMember" xlink:to="label_SeriesaPreferredSharesMember_3" xlink:title="label: SeriesaPreferredSharesMember to label_SeriesaPreferredSharesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_SilanerInvestmentsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SilanerInvestmentsLimitedMember" xml:lang="en-US" id="label_SilanerInvestmentsLimitedMember">Silaner Investments Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilanerInvestmentsLimitedMember" xlink:to="label_SilanerInvestmentsLimitedMember" xlink:title="label: SilanerInvestmentsLimitedMember to label_SilanerInvestmentsLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_SilanerInvestmentsLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SilanerInvestmentsLimitedMember" xml:lang="en-US" id="label_SilanerInvestmentsLimitedMember_2">Silaner Investments Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilanerInvestmentsLimitedMember" xlink:to="label_SilanerInvestmentsLimitedMember_2" xlink:title="label: SilanerInvestmentsLimitedMember to label_SilanerInvestmentsLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_SilanerInvestmentsLimitedMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SilanerInvestmentsLimitedMember" xml:lang="en-US" id="label_SilanerInvestmentsLimitedMember_3">Globus Maritime Limited-Silaner Credit Facility (note 4)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilanerInvestmentsLimitedMember" xlink:to="label_SilanerInvestmentsLimitedMember_3" xlink:title="label: SilanerInvestmentsLimitedMember to label_SilanerInvestmentsLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRedeemedDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedDuringPeriodShares">Stock Redeemed During Period Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodShares" xlink:to="label_StockRedeemedDuringPeriodShares" xlink:title="label: StockRedeemedDuringPeriodShares to label_StockRedeemedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRedeemedDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedDuringPeriodShares_2">Number of shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodShares" xlink:to="label_StockRedeemedDuringPeriodShares_2" xlink:title="label: StockRedeemedDuringPeriodShares to label_StockRedeemedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodShares_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockRedeemedDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedDuringPeriodShares_3">Shares redeemed by the issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodShares" xlink:to="label_StockRedeemedDuringPeriodShares_3" xlink:title="label: StockRedeemedDuringPeriodShares to label_StockRedeemedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodShares_4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockRedeemedDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedDuringPeriodShares_4">Number of stock bought back by the entity at the redemption price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodShares" xlink:to="label_StockRedeemedDuringPeriodShares_4" xlink:title="label: StockRedeemedDuringPeriodShares to label_StockRedeemedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodShares_5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockRedeemedDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedDuringPeriodShares_5">Shares redeemed by the issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodShares" xlink:to="label_StockRedeemedDuringPeriodShares_5" xlink:title="label: StockRedeemedDuringPeriodShares to label_StockRedeemedDuringPeriodShares"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodValue" xlink:label="StockRedeemedDuringPeriodValue" xlink:title="StockRedeemedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockRedeemedDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedDuringPeriodValue_3">Value of stock bought back by the entity at the redemption price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodValue" xlink:to="label_StockRedeemedDuringPeriodValue" xlink:title="label: StockRedeemedDuringPeriodValue to label_StockRedeemedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRedeemedDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedDuringPeriodValue">Stock Redeemed During Period Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodValue" xlink:to="label_StockRedeemedDuringPeriodValue_2" xlink:title="label: StockRedeemedDuringPeriodValue to label_StockRedeemedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodValue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRedeemedDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedDuringPeriodValue_2">Value of shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodValue" xlink:to="label_StockRedeemedDuringPeriodValue_3" xlink:title="label: StockRedeemedDuringPeriodValue to label_StockRedeemedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodValue_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockRedeemedDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedDuringPeriodValue_4">Shares redeemed by the issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodValue" xlink:to="label_StockRedeemedDuringPeriodValue_4" xlink:title="label: StockRedeemedDuringPeriodValue to label_StockRedeemedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:label="label_StockRedeemedDuringPeriodValue_5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockRedeemedDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedDuringPeriodValue_5">Shares redeemed by the issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedDuringPeriodValue" xlink:to="label_StockRedeemedDuringPeriodValue_5" xlink:title="label: StockRedeemedDuringPeriodValue to label_StockRedeemedDuringPeriodValue"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SunGlobeMember" xlink:label="SunGlobeMember" xlink:title="SunGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_SunGlobeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SunGlobeMember" xml:lang="en-US" id="label_SunGlobeMember">Sun Globe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SunGlobeMember" xlink:to="label_SunGlobeMember" xlink:title="label: SunGlobeMember to label_SunGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_SunGlobeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SunGlobeMember" xml:lang="en-US" id="label_SunGlobeMember_2">Sun Globe</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SunGlobeMember" xlink:to="label_SunGlobeMember_2" xlink:title="label: SunGlobeMember to label_SunGlobeMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SupramaxMember" xlink:label="SupramaxMember" xlink:title="SupramaxMember"/>
    <label xlink:type="resource" xlink:label="label_SupramaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SupramaxMember" xml:lang="en-US" id="label_SupramaxMember">Supramax [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupramaxMember" xlink:to="label_SupramaxMember" xlink:title="label: SupramaxMember to label_SupramaxMember"/>
    <label xlink:type="resource" xlink:label="label_SupramaxMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SupramaxMember" xml:lang="en-US" id="label_SupramaxMember_2">Supramax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupramaxMember" xlink:to="label_SupramaxMember_2" xlink:title="label: SupramaxMember to label_SupramaxMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TiaraGlobeMember" xlink:label="TiaraGlobeMember" xlink:title="TiaraGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_TiaraGlobeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TiaraGlobeMember" xml:lang="en-US" id="label_TiaraGlobeMember">Tiara Globe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TiaraGlobeMember" xlink:to="label_TiaraGlobeMember" xlink:title="label: TiaraGlobeMember to label_TiaraGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_TiaraGlobeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TiaraGlobeMember" xml:lang="en-US" id="label_TiaraGlobeMember_2">Tiara Globe</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TiaraGlobeMember" xlink:to="label_TiaraGlobeMember_2" xlink:title="label: TiaraGlobeMember to label_TiaraGlobeMember"/>
    <label xlink:type="resource" xlink:label="label_TiaraGlobeMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TiaraGlobeMember" xml:lang="en-US" id="label_TiaraGlobeMember_3">m/v Tiara Globe</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TiaraGlobeMember" xlink:to="label_TiaraGlobeMember_3" xlink:title="label: TiaraGlobeMember to label_TiaraGlobeMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesAuthorised" xlink:label="ValueOfSharesAuthorised" xlink:title="ValueOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:label="label_ValueOfSharesAuthorised" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ValueOfSharesAuthorised" xml:lang="en-US" id="label_ValueOfSharesAuthorised">The nominal value of shares authorised.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfSharesAuthorised" xlink:to="label_ValueOfSharesAuthorised" xlink:title="label: ValueOfSharesAuthorised to label_ValueOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:label="label_ValueOfSharesAuthorised_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValueOfSharesAuthorised" xml:lang="en-US" id="label_ValueOfSharesAuthorised_2">Value Of Shares Authorised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfSharesAuthorised" xlink:to="label_ValueOfSharesAuthorised_2" xlink:title="label: ValueOfSharesAuthorised to label_ValueOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:label="label_ValueOfSharesAuthorised_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ValueOfSharesAuthorised" xml:lang="en-US" id="label_ValueOfSharesAuthorised_3">Value of shares authorised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfSharesAuthorised" xlink:to="label_ValueOfSharesAuthorised_3" xlink:title="label: ValueOfSharesAuthorised to label_ValueOfSharesAuthorised"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesIssuedAbstract" xlink:label="ValueOfSharesIssuedAbstract" xlink:title="ValueOfSharesIssuedAbstract"/>
    <label xlink:type="resource" xlink:label="label_ValueOfSharesIssuedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValueOfSharesIssuedAbstract" xml:lang="en-US" id="label_ValueOfSharesIssuedAbstract">Value Of Shares Issued [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="label_ValueOfSharesIssuedAbstract" xlink:title="label: ValueOfSharesIssuedAbstract to label_ValueOfSharesIssuedAbstract"/>
    <label xlink:type="resource" xlink:label="label_ValueOfSharesIssuedAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ValueOfSharesIssuedAbstract" xml:lang="en-US" id="label_ValueOfSharesIssuedAbstract_2">USD</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="label_ValueOfSharesIssuedAbstract_2" xlink:title="label: ValueOfSharesIssuedAbstract to label_ValueOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselCapacity" xlink:label="VesselCapacity" xlink:title="VesselCapacity"/>
    <label xlink:type="resource" xlink:label="label_VesselCapacity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VesselCapacity" xml:lang="en-US" id="label_VesselCapacity">The vessel's capacity in deadweight tonnage ("dwt").</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselCapacity" xlink:to="label_VesselCapacity" xlink:title="label: VesselCapacity to label_VesselCapacity"/>
    <label xlink:type="resource" xlink:label="label_VesselCapacity_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VesselCapacity" xml:lang="en-US" id="label_VesselCapacity_2">Vessel Capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselCapacity" xlink:to="label_VesselCapacity_2" xlink:title="label: VesselCapacity to label_VesselCapacity"/>
    <label xlink:type="resource" xlink:label="label_VesselCapacity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VesselCapacity" xml:lang="en-US" id="label_VesselCapacity_3">Vessel capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselCapacity" xlink:to="label_VesselCapacity_3" xlink:title="label: VesselCapacity to label_VesselCapacity"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselDeliveryDate" xlink:label="VesselDeliveryDate" xlink:title="VesselDeliveryDate"/>
    <label xlink:type="resource" xlink:label="label_VesselDeliveryDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VesselDeliveryDate" xml:lang="en-US" id="label_VesselDeliveryDate">The date of the vessel delivery to the Company.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselDeliveryDate" xlink:to="label_VesselDeliveryDate" xlink:title="label: VesselDeliveryDate to label_VesselDeliveryDate"/>
    <label xlink:type="resource" xlink:label="label_VesselDeliveryDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VesselDeliveryDate" xml:lang="en-US" id="label_VesselDeliveryDate_2">Vessel Delivery Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselDeliveryDate" xlink:to="label_VesselDeliveryDate_2" xlink:title="label: VesselDeliveryDate to label_VesselDeliveryDate"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselsScrapRatePerTon" xlink:label="VesselsScrapRatePerTon" xlink:title="VesselsScrapRatePerTon"/>
    <label xlink:type="resource" xlink:label="label_VesselsScrapRatePerTon" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VesselsScrapRatePerTon" xml:lang="en-US" id="label_VesselsScrapRatePerTon">The estimated vessels' scrap rate per ton.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselsScrapRatePerTon" xlink:to="label_VesselsScrapRatePerTon" xlink:title="label: VesselsScrapRatePerTon to label_VesselsScrapRatePerTon"/>
    <label xlink:type="resource" xlink:label="label_VesselsScrapRatePerTon_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VesselsScrapRatePerTon" xml:lang="en-US" id="label_VesselsScrapRatePerTon_2">Vessels Scrap Rate Per Ton</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselsScrapRatePerTon" xlink:to="label_VesselsScrapRatePerTon_2" xlink:title="label: VesselsScrapRatePerTon to label_VesselsScrapRatePerTon"/>
    <label xlink:type="resource" xlink:label="label_VesselsScrapRatePerTon_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VesselsScrapRatePerTon" xml:lang="en-US" id="label_VesselsScrapRatePerTon_3">Vessels scrap rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselsScrapRatePerTon" xlink:to="label_VesselsScrapRatePerTon_3" xlink:title="label: VesselsScrapRatePerTon to label_VesselsScrapRatePerTon"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="AccumulatedDepreciationAmortisationAndImpairmentMember"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationAmortisationAndImpairmentMember" xml:lang="en-US" id="label_AccumulatedDepreciationAmortisationAndImpairmentMember">Accumulated depreciation, amortisation and impairment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="label_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="label: AccumulatedDepreciationAmortisationAndImpairmentMember to label_AccumulatedDepreciationAmortisationAndImpairmentMember"/>
    <label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAmortisationAndImpairmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedDepreciationAmortisationAndImpairmentMember" xml:lang="en-US" id="label_AccumulatedDepreciationAmortisationAndImpairmentMember_2">Accumulated depreciation, amortisation and impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="label_AccumulatedDepreciationAmortisationAndImpairmentMember_2" xlink:title="label: AccumulatedDepreciationAmortisationAndImpairmentMember to label_AccumulatedDepreciationAmortisationAndImpairmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">Additions other than through business combinations, intangible assets other than goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="label: AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill to label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_2">Additions of time charters at above market rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_2" xlink:title="label: AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill to label_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">Additions other than through business combinations, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="label: AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment to label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_2">Additions/ (Dry Docking Component)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_2" xlink:title="label: AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment to label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="AdjustmentsForAmortisationExpense" xlink:title="AdjustmentsForAmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForAmortisationExpense" xml:lang="en-US" id="label_AdjustmentsForAmortisationExpense">Amortization of fair value of time charter attached to vessels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForAmortisationExpense" xlink:to="label_AdjustmentsForAmortisationExpense" xlink:title="label: AdjustmentsForAmortisationExpense to label_AdjustmentsForAmortisationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="AdjustmentsForDecreaseIncreaseInInventories"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInInventories" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInInventories">Adjustments For Decrease Increase In Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInInventories" xlink:to="label_AdjustmentsForDecreaseIncreaseInInventories" xlink:title="label: AdjustmentsForDecreaseIncreaseInInventories to label_AdjustmentsForDecreaseIncreaseInInventories"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInInventories_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInInventories" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInInventories_2">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInInventories" xlink:to="label_AdjustmentsForDecreaseIncreaseInInventories_2" xlink:title="label: AdjustmentsForDecreaseIncreaseInInventories to label_AdjustmentsForDecreaseIncreaseInInventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:label="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInOtherAssets" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInOtherAssets">Adjustments For Decrease Increase In Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="label: AdjustmentsForDecreaseIncreaseInOtherAssets to label_AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInOtherAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInOtherAssets" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInOtherAssets_2">Prepayments and other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInOtherAssets_2" xlink:title="label: AdjustmentsForDecreaseIncreaseInOtherAssets to label_AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable">Trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="label: AdjustmentsForDecreaseIncreaseInTradeAccountReceivable to label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_2">Trade accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_2" xlink:title="label: AdjustmentsForDecreaseIncreaseInTradeAccountReceivable to label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDepreciationExpense" xlink:label="AdjustmentsForDepreciationExpense" xlink:title="AdjustmentsForDepreciationExpense"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDepreciationExpense" xml:lang="en-US" id="label_AdjustmentsForDepreciationExpense">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationExpense" xlink:to="label_AdjustmentsForDepreciationExpense" xlink:title="label: AdjustmentsForDepreciationExpense to label_AdjustmentsForDepreciationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForFinanceCosts" xlink:label="AdjustmentsForFinanceCosts" xlink:title="AdjustmentsForFinanceCosts"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForFinanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForFinanceCosts" xml:lang="en-US" id="label_AdjustmentsForFinanceCosts">Interest expense and finance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForFinanceCosts" xlink:to="label_AdjustmentsForFinanceCosts" xlink:title="label: AdjustmentsForFinanceCosts to label_AdjustmentsForFinanceCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xml:lang="en-US" id="label_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates">Gain from sale of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="label_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="label: AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates to label_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">Impairment loss/(Reversal of impairment)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="label: AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2" xlink:title="label: AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">Adjustments For Increase Decrease In Trade Account Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="label: AdjustmentsForIncreaseDecreaseInTradeAccountPayable to label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_2">Trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_2" xlink:title="label: AdjustmentsForIncreaseDecreaseInTradeAccountPayable to label_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="AdjustmentsForInterestIncome" xlink:title="AdjustmentsForInterestIncome"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForInterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForInterestIncome" xml:lang="en-US" id="label_AdjustmentsForInterestIncome">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForInterestIncome" xlink:to="label_AdjustmentsForInterestIncome" xlink:title="label: AdjustmentsForInterestIncome to label_AdjustmentsForInterestIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="AdjustmentsForProvisions" xlink:title="AdjustmentsForProvisions"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForProvisions" xml:lang="en-US" id="label_AdjustmentsForProvisions">Adjustments For Provisions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisions" xlink:to="label_AdjustmentsForProvisions" xlink:title="label: AdjustmentsForProvisions to label_AdjustmentsForProvisions"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForProvisions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForProvisions" xml:lang="en-US" id="label_AdjustmentsForProvisions_2">Provision for staff retirement indemnities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisions" xlink:to="label_AdjustmentsForProvisions_2" xlink:title="label: AdjustmentsForProvisions to label_AdjustmentsForProvisions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="AdjustmentsForReconcileProfitLossAbstract" xlink:title="AdjustmentsForReconcileProfitLossAbstract"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForReconcileProfitLossAbstract" xml:lang="en-US" id="label_AdjustmentsForReconcileProfitLossAbstract">Adjustments for:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_AdjustmentsForReconcileProfitLossAbstract" xlink:title="label: AdjustmentsForReconcileProfitLossAbstract to label_AdjustmentsForReconcileProfitLossAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="AdjustmentsForSharebasedPayments" xlink:title="AdjustmentsForSharebasedPayments"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForSharebasedPayments" xml:lang="en-US" id="label_AdjustmentsForSharebasedPayments">Share based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSharebasedPayments" xlink:to="label_AdjustmentsForSharebasedPayments" xlink:title="label: AdjustmentsForSharebasedPayments to label_AdjustmentsForSharebasedPayments"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForUnrealisedForeignExchangeLossesGains" xml:lang="en-US" id="label_AdjustmentsForUnrealisedForeignExchangeLossesGains">Foreign exchange gains, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="label_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="label: AdjustmentsForUnrealisedForeignExchangeLossesGains to label_AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdministrativeExpense" xml:lang="en-US" id="label_AdministrativeExpense_2">Administrative Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpense" xlink:to="label_AdministrativeExpense_2" xlink:title="label: AdministrativeExpense to label_AdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdministrativeExpense" xml:lang="en-US" id="label_AdministrativeExpense_3">Administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpense" xlink:to="label_AdministrativeExpense_3" xlink:title="label: AdministrativeExpense to label_AdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="label_AdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_AdministrativeExpense" xml:lang="en-US" id="label_AdministrativeExpense">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpense" xlink:to="label_AdministrativeExpense" xlink:title="label: AdministrativeExpense to label_AdministrativeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="AmortisationExpense" xlink:title="AmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_AmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortisationExpense" xml:lang="en-US" id="label_AmortisationExpense">Amortisation Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationExpense" xlink:to="label_AmortisationExpense" xlink:title="label: AmortisationExpense to label_AmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_AmortisationExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AmortisationExpense" xml:lang="en-US" id="label_AmortisationExpense_2">Amortization of fair value of time charter attached to vessels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationExpense" xlink:to="label_AmortisationExpense_2" xlink:title="label: AmortisationExpense to label_AmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_AmortisationExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_AmortisationExpense" xml:lang="en-US" id="label_AmortisationExpense_3">Depreciation &amp; Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationExpense" xlink:to="label_AmortisationExpense_3" xlink:title="label: AmortisationExpense to label_AmortisationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:label="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="AmortisationMethodIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill">Amortisation method, intangible assets other than goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:to="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="label: AmortisationMethodIntangibleAssetsOtherThanGoodwill to label_AmortisationMethodIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill_2">Amortisation method</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:to="label_AmortisationMethodIntangibleAssetsOtherThanGoodwill_2" xlink:title="label: AmortisationMethodIntangibleAssetsOtherThanGoodwill to label_AmortisationMethodIntangibleAssetsOtherThanGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="AmountsPayableRelatedPartyTransactions" xlink:title="AmountsPayableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_AmountsPayableRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountsPayableRelatedPartyTransactions" xml:lang="en-US" id="label_AmountsPayableRelatedPartyTransactions">Amounts Payable Related Party Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsPayableRelatedPartyTransactions" xlink:to="label_AmountsPayableRelatedPartyTransactions" xlink:title="label: AmountsPayableRelatedPartyTransactions to label_AmountsPayableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_AmountsPayableRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountsPayableRelatedPartyTransactions" xml:lang="en-US" id="label_AmountsPayableRelatedPartyTransactions_2">Unpaid rent expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsPayableRelatedPartyTransactions" xlink:to="label_AmountsPayableRelatedPartyTransactions_2" xlink:title="label: AmountsPayableRelatedPartyTransactions to label_AmountsPayableRelatedPartyTransactions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract" xlink:title="label: AssetsAbstract to label_AssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets"/>
    <label xlink:type="resource" xlink:label="label_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets" xlink:title="label: Assets to label_Assets"/>
    <label xlink:type="resource" xlink:label="label_Assets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets_2">TOTAL ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_2" xlink:title="label: Assets to label_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BalancesWithBanks" xlink:label="BalancesWithBanks" xlink:title="BalancesWithBanks"/>
    <label xlink:type="resource" xlink:label="label_BalancesWithBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BalancesWithBanks" xml:lang="en-US" id="label_BalancesWithBanks">Balances with banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalancesWithBanks" xlink:to="label_BalancesWithBanks" xlink:title="label: BalancesWithBanks to label_BalancesWithBanks"/>
    <label xlink:type="resource" xlink:label="label_BalancesWithBanks_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BalancesWithBanks" xml:lang="en-US" id="label_BalancesWithBanks_2">Cash at banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalancesWithBanks" xlink:to="label_BalancesWithBanks_2" xlink:title="label: BalancesWithBanks to label_BalancesWithBanks"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="BasicAndDilutedEarningsLossPerShare" xlink:title="BasicAndDilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:label="label_BasicAndDilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicAndDilutedEarningsLossPerShare" xml:lang="en-US" id="label_BasicAndDilutedEarningsLossPerShare">- Basic and Diluted loss per share for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicAndDilutedEarningsLossPerShare" xlink:to="label_BasicAndDilutedEarningsLossPerShare" xlink:title="label: BasicAndDilutedEarningsLossPerShare to label_BasicAndDilutedEarningsLossPerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:label="BasicAndDilutedEarningsPerShareAbstract" xlink:title="BasicAndDilutedEarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:label="label_BasicAndDilutedEarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicAndDilutedEarningsPerShareAbstract" xml:lang="en-US" id="label_BasicAndDilutedEarningsPerShareAbstract">Loss per share (U.S.$):</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicAndDilutedEarningsPerShareAbstract" xlink:to="label_BasicAndDilutedEarningsPerShareAbstract" xlink:title="label: BasicAndDilutedEarningsPerShareAbstract to label_BasicAndDilutedEarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="BorrowingCostsCapitalised" xlink:title="BorrowingCostsCapitalised"/>
    <label xlink:type="resource" xlink:label="label_BorrowingCostsCapitalised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingCostsCapitalised" xml:lang="en-US" id="label_BorrowingCostsCapitalised">Borrowing costs capitalised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingCostsCapitalised" xlink:to="label_BorrowingCostsCapitalised" xlink:title="label: BorrowingCostsCapitalised to label_BorrowingCostsCapitalised"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAbstract" xlink:label="BorrowingsAbstract" xlink:title="BorrowingsAbstract"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsAbstract" xml:lang="en-US" id="label_BorrowingsAbstract">Borrowings [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsAbstract" xlink:to="label_BorrowingsAbstract" xlink:title="label: BorrowingsAbstract to label_BorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsInterestRate" xml:lang="en-US" id="label_BorrowingsInterestRate">Borrowings Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_BorrowingsInterestRate" xlink:title="label: BorrowingsInterestRate to label_BorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsInterestRate" xml:lang="en-US" id="label_BorrowingsInterestRate_2">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_BorrowingsInterestRate_2" xlink:title="label: BorrowingsInterestRate to label_BorrowingsInterestRate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsMaturity_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsMaturity" xml:lang="en-US" id="label_BorrowingsMaturity">Borrowings Maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsMaturity" xlink:to="label_BorrowingsMaturity_2" xlink:title="label: BorrowingsMaturity to label_BorrowingsMaturity"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsMaturity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsMaturity" xml:lang="en-US" id="label_BorrowingsMaturity_2">Maturity date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsMaturity" xlink:to="label_BorrowingsMaturity_3" xlink:title="label: BorrowingsMaturity to label_BorrowingsMaturity"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsMaturity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BorrowingsMaturity" xml:lang="en-US" id="label_BorrowingsMaturity_3">Borrowings, maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsMaturity" xlink:to="label_BorrowingsMaturity" xlink:title="label: BorrowingsMaturity to label_BorrowingsMaturity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <label xlink:type="resource" xlink:label="label_Borrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings">Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings" xlink:title="label: Borrowings to label_Borrowings"/>
    <label xlink:type="resource" xlink:label="label_Borrowings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings_2">Total Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_2" xlink:title="label: Borrowings to label_Borrowings"/>
    <label xlink:type="resource" xlink:label="label_Borrowings_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings_3">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_3" xlink:title="label: Borrowings to label_Borrowings"/>
    <label xlink:type="resource" xlink:label="label_Borrowings_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings_4">Debt in accordance with IFRS (long and short-term borrowings)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_4" xlink:title="label: Borrowings to label_Borrowings"/>
    <label xlink:type="resource" xlink:label="label_Borrowings_5" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings_5">Long-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_5" xlink:title="label: Borrowings to label_Borrowings"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <label xlink:type="resource" xlink:label="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xml:lang="en-US" id="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="label: CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember"/>
    <label xlink:type="resource" xlink:label="label_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingAmountMember" xml:lang="en-US" id="label_CarryingAmountMember">Carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountMember" xlink:to="label_CarryingAmountMember" xlink:title="label: CarryingAmountMember to label_CarryingAmountMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAbstract" xml:lang="en-US" id="label_CashAndCashEquivalentsAbstract">Cash and cash equivalents [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="label_CashAndCashEquivalentsAbstract" xlink:title="label: CashAndCashEquivalentsAbstract to label_CashAndCashEquivalentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_CashAndCashEquivalents" xml:lang="en-US" id="label_CashAndCashEquivalents">Cash and cash equivalents at the end of the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents" xlink:title="label: CashAndCashEquivalents to label_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_CashAndCashEquivalents" xml:lang="en-US" id="label_CashAndCashEquivalents_2">Cash and cash equivalents at the beginning of the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_2" xlink:title="label: CashAndCashEquivalents to label_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalents" xml:lang="en-US" id="label_CashAndCashEquivalents_3">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_3" xlink:title="label: CashAndCashEquivalents to label_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashAndCashEquivalents" xml:lang="en-US" id="label_CashAndCashEquivalents_4">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_4" xlink:title="label: CashAndCashEquivalents to label_CashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xml:lang="en-US" id="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_2">Net proceeds from sale of vessel/subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_2" xlink:title="label: CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities to label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xml:lang="en-US" id="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">Proceeds from sale of a subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="label: CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities to label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents">Pledged bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:to="label_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="label: CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents to label_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivitiesAbstract">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="label: CashFlowsFromUsedInFinancingActivitiesAbstract to label_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInFinancingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivities">Net cash generated (used in)/from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="label_CashFlowsFromUsedInFinancingActivities" xlink:title="label: CashFlowsFromUsedInFinancingActivities to label_CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInFinancingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivities_2">Cash flows from (used in) financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="label_CashFlowsFromUsedInFinancingActivities_2" xlink:title="label: CashFlowsFromUsedInFinancingActivities to label_CashFlowsFromUsedInFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xml:lang="en-US" id="label_CashFlowsFromUsedInInvestingActivitiesAbstract">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="label: CashFlowsFromUsedInInvestingActivitiesAbstract to label_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInInvestingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInInvestingActivities">Net cash (used in)/generated from investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities" xlink:title="label: CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInInvestingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInInvestingActivities_2">Cash flows from (used in) investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities_2" xlink:title="label: CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xml:lang="en-US" id="label_CashFlowsFromUsedInOperatingActivitiesAbstract">Operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="label: CashFlowsFromUsedInOperatingActivitiesAbstract to label_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInOperatingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInOperatingActivities">Net cash generated from/(used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities" xlink:title="label: CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperatingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInOperatingActivities_2">Cash flows from (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities_2" xlink:title="label: CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashOnHand" xlink:label="CashOnHand" xlink:title="CashOnHand"/>
    <label xlink:type="resource" xlink:label="label_CashOnHand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashOnHand" xml:lang="en-US" id="label_CashOnHand">Cash on hand</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashOnHand" xlink:to="label_CashOnHand" xlink:title="label: CashOnHand to label_CashOnHand"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <label xlink:type="resource" xlink:label="label_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfRelatedPartiesAxis" xml:lang="en-US" id="label_CategoriesOfRelatedPartiesAxis">Categories of related parties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="label_CategoriesOfRelatedPartiesAxis" xlink:title="label: CategoriesOfRelatedPartiesAxis to label_CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ClassesOfInventoriesAbstract" xlink:title="ClassesOfInventoriesAbstract"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfInventoriesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfInventoriesAbstract" xml:lang="en-US" id="label_ClassesOfInventoriesAbstract">Inventories [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfInventoriesAbstract" xlink:to="label_ClassesOfInventoriesAbstract" xlink:title="label: ClassesOfInventoriesAbstract to label_ClassesOfInventoriesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfPropertyPlantAndEquipmentAxis" xml:lang="en-US" id="label_ClassesOfPropertyPlantAndEquipmentAxis">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="label_ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="label: ClassesOfPropertyPlantAndEquipmentAxis to label_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfShareCapitalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfShareCapitalAxis" xml:lang="en-US" id="label_ClassesOfShareCapitalAxis">Classes of share capital [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfShareCapitalAxis" xlink:to="label_ClassesOfShareCapitalAxis" xlink:title="label: ClassesOfShareCapitalAxis to label_ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfShareCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfShareCapitalMember" xml:lang="en-US" id="label_ClassesOfShareCapitalMember">Share capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfShareCapitalMember" xlink:to="label_ClassesOfShareCapitalMember" xlink:title="label: ClassesOfShareCapitalMember to label_ClassesOfShareCapitalMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <label xlink:type="resource" xlink:label="label_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComponentsOfEquityAxis" xml:lang="en-US" id="label_ComponentsOfEquityAxis">Components of Equity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfEquityAxis" xlink:to="label_ComponentsOfEquityAxis" xlink:title="label: ComponentsOfEquityAxis to label_ComponentsOfEquityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:label="label_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncome" xml:lang="en-US" id="label_ComprehensiveIncome">Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome" xlink:title="label: ComprehensiveIncome to label_ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:label="label_ComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ComprehensiveIncome" xml:lang="en-US" id="label_ComprehensiveIncome_2">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome_2" xlink:title="label: ComprehensiveIncome to label_ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:label="label_ComprehensiveIncome_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ComprehensiveIncome" xml:lang="en-US" id="label_ComprehensiveIncome_3">Total comprehensive loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome_3" xlink:title="label: ComprehensiveIncome to label_ComprehensiveIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="CountryOfIncorporationOrResidenceOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CountryOfIncorporationOrResidenceOfSubsidiary" xml:lang="en-US" id="label_CountryOfIncorporationOrResidenceOfSubsidiary">Country of Incorporation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:to="label_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="label: CountryOfIncorporationOrResidenceOfSubsidiary to label_CountryOfIncorporationOrResidenceOfSubsidiary"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAccruedExpensesAndOtherCurrentLiabilities" xml:lang="en-US" id="label_CurrentAccruedExpensesAndOtherCurrentLiabilities">Current accrued expenses and other current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="label: CurrentAccruedExpensesAndOtherCurrentLiabilities to label_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAccruedExpensesAndOtherCurrentLiabilities" xml:lang="en-US" id="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_2">Accrued liabilities and other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_2" xlink:title="label: CurrentAccruedExpensesAndOtherCurrentLiabilities to label_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentAccruedExpensesAndOtherCurrentLiabilities" xml:lang="en-US" id="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_3">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_CurrentAccruedExpensesAndOtherCurrentLiabilities_3" xlink:title="label: CurrentAccruedExpensesAndOtherCurrentLiabilities to label_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAdvancesToSuppliers" xlink:label="CurrentAdvancesToSuppliers" xlink:title="CurrentAdvancesToSuppliers"/>
    <label xlink:type="resource" xlink:label="label_CurrentAdvancesToSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAdvancesToSuppliers" xml:lang="en-US" id="label_CurrentAdvancesToSuppliers">Current advances to suppliers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAdvancesToSuppliers" xlink:to="label_CurrentAdvancesToSuppliers" xlink:title="label: CurrentAdvancesToSuppliers to label_CurrentAdvancesToSuppliers"/>
    <label xlink:type="resource" xlink:label="label_CurrentAdvancesToSuppliers_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAdvancesToSuppliers" xml:lang="en-US" id="label_CurrentAdvancesToSuppliers_2">Bunkers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAdvancesToSuppliers" xlink:to="label_CurrentAdvancesToSuppliers_2" xlink:title="label: CurrentAdvancesToSuppliers to label_CurrentAdvancesToSuppliers"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsAbstract" xlink:label="CurrentAssetsAbstract" xlink:title="CurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssetsAbstract" xml:lang="en-US" id="label_CurrentAssetsAbstract">CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsAbstract" xlink:to="label_CurrentAssetsAbstract" xlink:title="label: CurrentAssetsAbstract to label_CurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsLiabilities" xlink:label="CurrentAssetsLiabilities" xlink:title="CurrentAssetsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssetsLiabilities" xml:lang="en-US" id="label_CurrentAssetsLiabilities">Current Assets Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsLiabilities" xlink:to="label_CurrentAssetsLiabilities" xlink:title="label: CurrentAssetsLiabilities to label_CurrentAssetsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentAssetsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAssetsLiabilities" xml:lang="en-US" id="label_CurrentAssetsLiabilities_2">Working capital deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsLiabilities" xlink:to="label_CurrentAssetsLiabilities_2" xlink:title="label: CurrentAssetsLiabilities to label_CurrentAssetsLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="CurrentAssets" xlink:title="CurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssets" xml:lang="en-US" id="label_CurrentAssets">Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssets" xlink:to="label_CurrentAssets" xlink:title="label: CurrentAssets to label_CurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_CurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentAssets" xml:lang="en-US" id="label_CurrentAssets_2">Total current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssets" xlink:to="label_CurrentAssets_2" xlink:title="label: CurrentAssets to label_CurrentAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDividendPayables" xlink:label="CurrentDividendPayables" xlink:title="CurrentDividendPayables"/>
    <label xlink:type="resource" xlink:label="label_CurrentDividendPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentDividendPayables" xml:lang="en-US" id="label_CurrentDividendPayables">Current Dividend Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDividendPayables" xlink:to="label_CurrentDividendPayables" xlink:title="label: CurrentDividendPayables to label_CurrentDividendPayables"/>
    <label xlink:type="resource" xlink:label="label_CurrentDividendPayables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentDividendPayables" xml:lang="en-US" id="label_CurrentDividendPayables_2">Dividend payable on Preferred Shares (note 17)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDividendPayables" xlink:to="label_CurrentDividendPayables_2" xlink:title="label: CurrentDividendPayables to label_CurrentDividendPayables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestPayable" xlink:label="CurrentInterestPayable" xlink:title="CurrentInterestPayable"/>
    <label xlink:type="resource" xlink:label="label_CurrentInterestPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentInterestPayable" xml:lang="en-US" id="label_CurrentInterestPayable">Current interest payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInterestPayable" xlink:to="label_CurrentInterestPayable" xlink:title="label: CurrentInterestPayable to label_CurrentInterestPayable"/>
    <label xlink:type="resource" xlink:label="label_CurrentInterestPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentInterestPayable" xml:lang="en-US" id="label_CurrentInterestPayable_2">Accrued interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInterestPayable" xlink:to="label_CurrentInterestPayable_2" xlink:title="label: CurrentInterestPayable to label_CurrentInterestPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestReceivable" xlink:label="CurrentInterestReceivable" xlink:title="CurrentInterestReceivable"/>
    <label xlink:type="resource" xlink:label="label_CurrentInterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentInterestReceivable" xml:lang="en-US" id="label_CurrentInterestReceivable">Current interest receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInterestReceivable" xlink:to="label_CurrentInterestReceivable" xlink:title="label: CurrentInterestReceivable to label_CurrentInterestReceivable"/>
    <label xlink:type="resource" xlink:label="label_CurrentInterestReceivable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentInterestReceivable" xml:lang="en-US" id="label_CurrentInterestReceivable_2">Interest receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentInterestReceivable" xlink:to="label_CurrentInterestReceivable_2" xlink:title="label: CurrentInterestReceivable to label_CurrentInterestReceivable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="CurrentLiabilitiesAbstract" xlink:title="CurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentLiabilitiesAbstract" xml:lang="en-US" id="label_CurrentLiabilitiesAbstract">CURRENT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilitiesAbstract" xlink:to="label_CurrentLiabilitiesAbstract" xlink:title="label: CurrentLiabilitiesAbstract to label_CurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_CurrentLiabilitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentLiabilitiesAbstract" xml:lang="en-US" id="label_CurrentLiabilitiesAbstract_2">Trade accounts payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilitiesAbstract" xlink:to="label_CurrentLiabilitiesAbstract_2" xlink:title="label: CurrentLiabilitiesAbstract to label_CurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="CurrentLiabilities" xlink:title="CurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentLiabilities" xml:lang="en-US" id="label_CurrentLiabilities">Current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_CurrentLiabilities" xlink:title="label: CurrentLiabilities to label_CurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentLiabilities" xml:lang="en-US" id="label_CurrentLiabilities_2">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_CurrentLiabilities_2" xlink:title="label: CurrentLiabilities to label_CurrentLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongtermBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPortionOfLongtermBorrowings" xml:lang="en-US" id="label_CurrentPortionOfLongtermBorrowings_2">Current portion of long-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongtermBorrowings" xlink:to="label_CurrentPortionOfLongtermBorrowings_2" xlink:title="label: CurrentPortionOfLongtermBorrowings to label_CurrentPortionOfLongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongtermBorrowings_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPortionOfLongtermBorrowings" xml:lang="en-US" id="label_CurrentPortionOfLongtermBorrowings_3">Total Borrowings - Current Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongtermBorrowings" xlink:to="label_CurrentPortionOfLongtermBorrowings_3" xlink:title="label: CurrentPortionOfLongtermBorrowings to label_CurrentPortionOfLongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_CurrentPortionOfLongtermBorrowings" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentPortionOfLongtermBorrowings" xml:lang="en-US" id="label_CurrentPortionOfLongtermBorrowings">Total Borrowings - Current Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPortionOfLongtermBorrowings" xlink:to="label_CurrentPortionOfLongtermBorrowings" xlink:title="label: CurrentPortionOfLongtermBorrowings to label_CurrentPortionOfLongtermBorrowings"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="CurrentPrepaymentsAndOtherCurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_CurrentPrepaymentsAndOtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPrepaymentsAndOtherCurrentAssets" xml:lang="en-US" id="label_CurrentPrepaymentsAndOtherCurrentAssets">Current prepayments and other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="label_CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="label: CurrentPrepaymentsAndOtherCurrentAssets to label_CurrentPrepaymentsAndOtherCurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_CurrentPrepaymentsAndOtherCurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPrepaymentsAndOtherCurrentAssets" xml:lang="en-US" id="label_CurrentPrepaymentsAndOtherCurrentAssets_2">Prepayments and other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="label_CurrentPrepaymentsAndOtherCurrentAssets_2" xlink:title="label: CurrentPrepaymentsAndOtherCurrentAssets to label_CurrentPrepaymentsAndOtherCurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_CurrentPrepaymentsAndOtherCurrentAssets_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentPrepaymentsAndOtherCurrentAssets" xml:lang="en-US" id="label_CurrentPrepaymentsAndOtherCurrentAssets_3">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="label_CurrentPrepaymentsAndOtherCurrentAssets_3" xlink:title="label: CurrentPrepaymentsAndOtherCurrentAssets to label_CurrentPrepaymentsAndOtherCurrentAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepayments" xlink:label="CurrentPrepayments" xlink:title="CurrentPrepayments"/>
    <label xlink:type="resource" xlink:label="label_CurrentPrepayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPrepayments" xml:lang="en-US" id="label_CurrentPrepayments">Current Prepayments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPrepayments" xlink:to="label_CurrentPrepayments" xlink:title="label: CurrentPrepayments to label_CurrentPrepayments"/>
    <label xlink:type="resource" xlink:label="label_CurrentPrepayments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPrepayments" xml:lang="en-US" id="label_CurrentPrepayments_2">Other prepayments and other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPrepayments" xlink:to="label_CurrentPrepayments_2" xlink:title="label: CurrentPrepayments to label_CurrentPrepayments"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:label="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xml:lang="en-US" id="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment">Decrease through loss of control of subsidiary, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:to="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="label: DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment to label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xml:lang="en-US" id="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_2">Sale of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:to="label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_2" xlink:title="label: DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment to label_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncome" xlink:label="DeferredIncome" xlink:title="DeferredIncome"/>
    <label xlink:type="resource" xlink:label="label_DeferredIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredIncome" xml:lang="en-US" id="label_DeferredIncome">Deferred income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncome" xlink:to="label_DeferredIncome" xlink:title="label: DeferredIncome to label_DeferredIncome"/>
    <label xlink:type="resource" xlink:label="label_DeferredIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredIncome" xml:lang="en-US" id="label_DeferredIncome_2">Deferred revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncome" xlink:to="label_DeferredIncome_2" xlink:title="label: DeferredIncome to label_DeferredIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="DepreciationAndAmortisationExpense" xlink:title="DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationAndAmortisationExpense" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense">Depreciation and amortisation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense" xlink:title="label: DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationAndAmortisationExpense" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense_2">Depreciation &amp; Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_2" xlink:title="label: DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_DepreciationAndAmortisationExpense" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense_3">Depreciation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_3" xlink:title="label: DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationExpense" xml:lang="en-US" id="label_DepreciationExpense">Depreciation Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationExpense" xlink:to="label_DepreciationExpense" xlink:title="label: DepreciationExpense to label_DepreciationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationExpense_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_DepreciationExpense" xml:lang="en-US" id="label_DepreciationExpense_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationExpense" xlink:to="label_DepreciationExpense_2" xlink:title="label: DepreciationExpense to label_DepreciationExpense"/>
    <label xlink:type="resource" xlink:label="label_DepreciationExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationExpense" xml:lang="en-US" id="label_DepreciationExpense_3">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationExpense" xlink:to="label_DepreciationExpense_3" xlink:title="label: DepreciationExpense to label_DepreciationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationMethodPropertyPlantAndEquipment" xlink:label="DepreciationMethodPropertyPlantAndEquipment" xlink:title="DepreciationMethodPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationMethodPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationMethodPropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationMethodPropertyPlantAndEquipment">Depreciation method, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationMethodPropertyPlantAndEquipment" xlink:to="label_DepreciationMethodPropertyPlantAndEquipment" xlink:title="label: DepreciationMethodPropertyPlantAndEquipment to label_DepreciationMethodPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationMethodPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationMethodPropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationMethodPropertyPlantAndEquipment_2">Depreciation method</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationMethodPropertyPlantAndEquipment" xlink:to="label_DepreciationMethodPropertyPlantAndEquipment_2" xlink:title="label: DepreciationMethodPropertyPlantAndEquipment to label_DepreciationMethodPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="DepreciationPropertyPlantAndEquipment" xlink:title="DepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationPropertyPlantAndEquipment">Depreciation, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationPropertyPlantAndEquipment" xlink:to="label_DepreciationPropertyPlantAndEquipment" xlink:title="label: DepreciationPropertyPlantAndEquipment to label_DepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationPropertyPlantAndEquipment_2">Vessels depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationPropertyPlantAndEquipment" xlink:to="label_DepreciationPropertyPlantAndEquipment_2" xlink:title="label: DepreciationPropertyPlantAndEquipment to label_DepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DepreciationPropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationPropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationPropertyPlantAndEquipment_3">Depreciation &amp; Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationPropertyPlantAndEquipment" xlink:to="label_DepreciationPropertyPlantAndEquipment_3" xlink:title="label: DepreciationPropertyPlantAndEquipment to label_DepreciationPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:label="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="DescriptionOfNatureOfBenefitsProvidedByPlan"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfNatureOfBenefitsProvidedByPlan" xml:lang="en-US" id="label_DescriptionOfNatureOfBenefitsProvidedByPlan">Description Of Nature Of Benefits Provided By Plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:to="label_DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="label: DescriptionOfNatureOfBenefitsProvidedByPlan to label_DescriptionOfNatureOfBenefitsProvidedByPlan"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfNatureOfBenefitsProvidedByPlan_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfNatureOfBenefitsProvidedByPlan" xml:lang="en-US" id="label_DescriptionOfNatureOfBenefitsProvidedByPlan_2">Description of the nature of the benefits provided by the defined benefit plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:to="label_DescriptionOfNatureOfBenefitsProvidedByPlan_2" xlink:title="label: DescriptionOfNatureOfBenefitsProvidedByPlan to label_DescriptionOfNatureOfBenefitsProvidedByPlan"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="DirectorsRemunerationExpense" xlink:title="DirectorsRemunerationExpense"/>
    <label xlink:type="resource" xlink:label="label_DirectorsRemunerationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DirectorsRemunerationExpense" xml:lang="en-US" id="label_DirectorsRemunerationExpense">Directors' remuneration expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsRemunerationExpense" xlink:to="label_DirectorsRemunerationExpense" xlink:title="label: DirectorsRemunerationExpense to label_DirectorsRemunerationExpense"/>
    <label xlink:type="resource" xlink:label="label_DirectorsRemunerationExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DirectorsRemunerationExpense" xml:lang="en-US" id="label_DirectorsRemunerationExpense_2">Director's remuneration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsRemunerationExpense" xlink:to="label_DirectorsRemunerationExpense_2" xlink:title="label: DirectorsRemunerationExpense to label_DirectorsRemunerationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalAbstract" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalAbstract">Disclosure of classes of share capital [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="label_DisclosureOfClassesOfShareCapitalAbstract" xlink:title="label: DisclosureOfClassesOfShareCapitalAbstract to label_DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalLineItems" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalLineItems">Disclosure of classes of share capital [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="label_DisclosureOfClassesOfShareCapitalLineItems" xlink:title="label: DisclosureOfClassesOfShareCapitalLineItems to label_DisclosureOfClassesOfShareCapitalLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalTable" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalTable">Disclosure of classes of share capital [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="label_DisclosureOfClassesOfShareCapitalTable" xlink:title="label: DisclosureOfClassesOfShareCapitalTable to label_DisclosureOfClassesOfShareCapitalTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract">Disclosure of detailed information about borrowings [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="label: DisclosureOfDetailedInformationAboutBorrowingsAbstract to label_DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems">Disclosure of detailed information about borrowings [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="label: DisclosureOfDetailedInformationAboutBorrowingsLineItems to label_DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsTable">Disclosure of detailed information about borrowings [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="label: DisclosureOfDetailedInformationAboutBorrowingsTable to label_DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xml:lang="en-US" id="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract">Basis of Preparation and Significant Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:title="label: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xml:lang="en-US" id="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems">Basis of Preparation and Significant Accounting Policies [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:title="label: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xml:lang="en-US" id="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable">Basis of preparation and significant accounting policies [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="label: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to label_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentAbstract">Vessels, net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentAbstract to label_DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentLineItems">Disclosure of detailed information about property, plant and equipment [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentLineItems to label_DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentTable" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentTable">Disclosure of detailed information about property, plant and equipment [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentTable to label_DisclosureOfPropertyPlantAndEquipmentTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract">Disclosure of subsidiaries [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesAbstract to label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">Disclosure of subsidiaries [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_2">Disclosure of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_2" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable">Disclosure of subsidiaries [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesTable to label_DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract">Disclosure of transactions between related parties [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="label: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">Disclosure of transactions between related parties [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="label: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to label_DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesTable" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesTable">Disclosure of transactions between related parties [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="label: DisclosureOfTransactionsBetweenRelatedPartiesTable to label_DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="DisposalsPropertyPlantAndEquipment" xlink:title="DisposalsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="label_DisposalsPropertyPlantAndEquipment">Disposals, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsPropertyPlantAndEquipment" xlink:to="label_DisposalsPropertyPlantAndEquipment" xlink:title="label: DisposalsPropertyPlantAndEquipment to label_DisposalsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_DisposalsPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="label_DisposalsPropertyPlantAndEquipment_2">Sale of vessel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsPropertyPlantAndEquipment" xlink:to="label_DisposalsPropertyPlantAndEquipment_2" xlink:title="label: DisposalsPropertyPlantAndEquipment to label_DisposalsPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_DividendsPaidClassifiedAsFinancingActivities">Dividends paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities" xlink:title="label: DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_DividendsPaidClassifiedAsFinancingActivities_2">Dividends paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities_2" xlink:title="label: DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid">Dividends Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid" xlink:title="label: DividendsPaid to label_DividendsPaid"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid_2">Dividends paid (note 17)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_2" xlink:title="label: DividendsPaid to label_DividendsPaid"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaid_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid_3">Less: Dividends on preferred shares (note 17)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_3" xlink:title="label: DividendsPaid to label_DividendsPaid"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaid_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid_4">Dividends paid (note 17)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_4" xlink:title="label: DividendsPaid to label_DividendsPaid"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaid_5" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid_5">Less: Dividends on preferred shares (note 17)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_5" xlink:title="label: DividendsPaid to label_DividendsPaid"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:label="label_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareAbstract" xml:lang="en-US" id="label_EarningsPerShareAbstract">Loss per share [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract" xlink:title="label: EarningsPerShareAbstract to label_EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="EarningsPerShareLineItems" xlink:title="EarningsPerShareLineItems"/>
    <label xlink:type="resource" xlink:label="label_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareLineItems" xml:lang="en-US" id="label_EarningsPerShareLineItems">Earnings per share [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareLineItems" xlink:to="label_EarningsPerShareLineItems" xlink:title="label: EarningsPerShareLineItems to label_EarningsPerShareLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <label xlink:type="resource" xlink:label="label_EarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareTable" xml:lang="en-US" id="label_EarningsPerShareTable">Earnings per share [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTable" xlink:to="label_EarningsPerShareTable" xlink:title="label: EarningsPerShareTable to label_EarningsPerShareTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xml:lang="en-US" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents">Foreign exchange gains on cash and bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="label: EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract"/>
    <label xlink:type="resource" xlink:label="label_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAbstract" xml:lang="en-US" id="label_EquityAbstract">Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract" xlink:title="label: EquityAbstract to label_EquityAbstract"/>
    <label xlink:type="resource" xlink:label="label_EquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAbstract" xml:lang="en-US" id="label_EquityAbstract_2">EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract_2" xlink:title="label: EquityAbstract to label_EquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="EquityAndLiabilitiesAbstract" xlink:title="EquityAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAndLiabilitiesAbstract" xml:lang="en-US" id="label_EquityAndLiabilitiesAbstract">EQUITY AND LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="label_EquityAndLiabilitiesAbstract" xlink:title="label: EquityAndLiabilitiesAbstract to label_EquityAndLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:label="label_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAndLiabilities" xml:lang="en-US" id="label_EquityAndLiabilities">Equity and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities" xlink:title="label: EquityAndLiabilities to label_EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:label="label_EquityAndLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EquityAndLiabilities" xml:lang="en-US" id="label_EquityAndLiabilities_2">TOTAL EQUITY AND LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities_2" xlink:title="label: EquityAndLiabilities to label_EquityAndLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="EquityAttributableToOwnersOfParentMember" xlink:title="EquityAttributableToOwnersOfParentMember"/>
    <label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAttributableToOwnersOfParentMember" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParentMember">Equity attributable to owners of parent [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="label_EquityAttributableToOwnersOfParentMember" xlink:title="label: EquityAttributableToOwnersOfParentMember to label_EquityAttributableToOwnersOfParentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <label xlink:type="resource" xlink:label="label_EquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityMember" xml:lang="en-US" id="label_EquityMember">Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMember" xlink:to="label_EquityMember" xlink:title="label: EquityMember to label_EquityMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <label xlink:type="resource" xlink:label="label_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_Equity" xml:lang="en-US" id="label_Equity">As</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity" xlink:title="label: Equity to label_Equity"/>
    <label xlink:type="resource" xlink:label="label_Equity_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_Equity" xml:lang="en-US" id="label_Equity_2">As</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_2" xlink:title="label: Equity to label_Equity"/>
    <label xlink:type="resource" xlink:label="label_Equity_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Equity" xml:lang="en-US" id="label_Equity_3">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_3" xlink:title="label: Equity to label_Equity"/>
    <label xlink:type="resource" xlink:label="label_Equity_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Equity" xml:lang="en-US" id="label_Equity_4">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_4" xlink:title="label: Equity to label_Equity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:title="ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <label xlink:type="resource" xlink:label="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xml:lang="en-US" id="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees">Expense From Sharebased Payment Transactions With Employees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:title="label: ExpenseFromSharebasedPaymentTransactionsWithEmployees to label_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <label xlink:type="resource" xlink:label="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xml:lang="en-US" id="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_2">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_2" xlink:title="label: ExpenseFromSharebasedPaymentTransactionsWithEmployees to label_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome"/>
    <label xlink:type="resource" xlink:label="label_FeeAndCommissionIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FeeAndCommissionIncome" xml:lang="en-US" id="label_FeeAndCommissionIncome">Fee And Commission Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncome" xlink:to="label_FeeAndCommissionIncome" xlink:title="label: FeeAndCommissionIncome to label_FeeAndCommissionIncome"/>
    <label xlink:type="resource" xlink:label="label_FeeAndCommissionIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FeeAndCommissionIncome" xml:lang="en-US" id="label_FeeAndCommissionIncome_2">Consulting fee income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncome" xlink:to="label_FeeAndCommissionIncome_2" xlink:title="label: FeeAndCommissionIncome to label_FeeAndCommissionIncome"/>
    <label xlink:type="resource" xlink:label="label_FeeAndCommissionIncome_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FeeAndCommissionIncome" xml:lang="en-US" id="label_FeeAndCommissionIncome_3">Management and consulting fee income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncome" xlink:to="label_FeeAndCommissionIncome_3" xlink:title="label: FeeAndCommissionIncome to label_FeeAndCommissionIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <label xlink:type="resource" xlink:label="label_FinanceCosts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceCosts" xml:lang="en-US" id="label_FinanceCosts_2">Finance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceCosts" xlink:to="label_FinanceCosts_2" xlink:title="label: FinanceCosts to label_FinanceCosts"/>
    <label xlink:type="resource" xlink:label="label_FinanceCosts_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FinanceCosts" xml:lang="en-US" id="label_FinanceCosts_3">Interest expense and finance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceCosts" xlink:to="label_FinanceCosts_3" xlink:title="label: FinanceCosts to label_FinanceCosts"/>
    <label xlink:type="resource" xlink:label="label_FinanceCosts" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinanceCosts" xml:lang="en-US" id="label_FinanceCosts">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceCosts" xlink:to="label_FinanceCosts" xlink:title="label: FinanceCosts to label_FinanceCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="label: GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss to label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_2">Foreign exchange gains/(losses), net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_2" xlink:title="label: GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss to label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:label="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xml:lang="en-US" id="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_2">Gains Losses Recognised When Control In Subsidiary Is Lost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:to="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_2" xlink:title="label: GainsLossesRecognisedWhenControlInSubsidiaryIsLost to label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xml:lang="en-US" id="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_3">Gain from sale of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:to="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost_3" xlink:title="label: GainsLossesRecognisedWhenControlInSubsidiaryIsLost to label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xml:lang="en-US" id="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost">Gain from sale of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:to="label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="label: GainsLossesRecognisedWhenControlInSubsidiaryIsLost to label_GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="GrossCarryingAmountMember" xlink:title="GrossCarryingAmountMember"/>
    <label xlink:type="resource" xlink:label="label_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossCarryingAmountMember" xml:lang="en-US" id="label_GrossCarryingAmountMember">Gross carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_GrossCarryingAmountMember" xlink:title="label: GrossCarryingAmountMember to label_GrossCarryingAmountMember"/>
    <label xlink:type="resource" xlink:label="label_GrossCarryingAmountMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrossCarryingAmountMember" xml:lang="en-US" id="label_GrossCarryingAmountMember_2">Gross carrying amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_GrossCarryingAmountMember_2" xlink:title="label: GrossCarryingAmountMember to label_GrossCarryingAmountMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xml:lang="en-US" id="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment">Impairment loss recognised in profit or loss, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="label: ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment to label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xml:lang="en-US" id="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2" xlink:title="label: ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment to label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:title="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xml:lang="en-US" id="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_3">(Impairment loss)/Reversal of impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_3" xlink:title="label: ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment to label_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="label: ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_2" xlink:title="label: ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_3">Impairment Loss/(Reversal of impairment)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_3" xlink:title="label: ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="en-US" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_4">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_4" xlink:title="label: ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xml:lang="en-US" id="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">Net (decrease)/increase in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="label: IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xml:lang="en-US" id="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" xlink:title="label: IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_2">Increase (decrease) in number of ordinary shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_2" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssued to label_IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_3">Issued during the year (share based compensation note 13)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued_3" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssued to label_IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued">Stock issued during the year (shares) - Share based compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssued to label_IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfSharesOutstanding" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfSharesOutstanding">Increase Decrease In Number Of Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:to="label_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="label: IncreaseDecreaseInNumberOfSharesOutstanding to label_IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfSharesOutstanding" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfSharesOutstanding_2">Shares issued during period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:to="label_IncreaseDecreaseInNumberOfSharesOutstanding_2" xlink:title="label: IncreaseDecreaseInNumberOfSharesOutstanding to label_IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_2">Increase (decrease) through share-based payment transactions, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_2" xlink:title="label: IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_3">Share-based payments (note 13)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_3" xlink:title="label: IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_4">Issued during the year for share based compensation (note 13)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_4" xlink:title="label: IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions">Stock issued during the year (value) - Share based compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="label: IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="IntangibleAssetsOtherThanGoodwill" xlink:title="IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_IntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwill">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwill" xlink:to="label_IntangibleAssetsOtherThanGoodwill" xlink:title="label: IntangibleAssetsOtherThanGoodwill to label_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_IntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwill_2">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwill" xlink:to="label_IntangibleAssetsOtherThanGoodwill_2" xlink:title="label: IntangibleAssetsOtherThanGoodwill to label_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwill_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwill_3">Intangible assets other than goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwill" xlink:to="label_IntangibleAssetsOtherThanGoodwill_3" xlink:title="label: IntangibleAssetsOtherThanGoodwill to label_IntangibleAssetsOtherThanGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense"/>
    <label xlink:type="resource" xlink:label="label_InterestExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpense" xml:lang="en-US" id="label_InterestExpense">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense_2" xlink:title="label: InterestExpense to label_InterestExpense"/>
    <label xlink:type="resource" xlink:label="label_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestExpense" xml:lang="en-US" id="label_InterestExpense_2">Interest payable on long-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense" xlink:title="label: InterestExpense to label_InterestExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="InterestPaidClassifiedAsFinancingActivities" xlink:title="InterestPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_InterestPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_InterestPaidClassifiedAsFinancingActivities">Interest paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPaidClassifiedAsFinancingActivities" xlink:to="label_InterestPaidClassifiedAsFinancingActivities" xlink:title="label: InterestPaidClassifiedAsFinancingActivities to label_InterestPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_InterestPaidClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_InterestPaidClassifiedAsFinancingActivities_2">Interest paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPaidClassifiedAsFinancingActivities" xlink:to="label_InterestPaidClassifiedAsFinancingActivities_2" xlink:title="label: InterestPaidClassifiedAsFinancingActivities to label_InterestPaidClassifiedAsFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="InterestReceivedClassifiedAsInvestingActivities" xlink:title="InterestReceivedClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_InterestReceivedClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestReceivedClassifiedAsInvestingActivities" xml:lang="en-US" id="label_InterestReceivedClassifiedAsInvestingActivities">Interest received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestReceivedClassifiedAsInvestingActivities" xlink:to="label_InterestReceivedClassifiedAsInvestingActivities" xlink:title="label: InterestReceivedClassifiedAsInvestingActivities to label_InterestReceivedClassifiedAsInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="Inventories" xlink:title="Inventories"/>
    <label xlink:type="resource" xlink:label="label_Inventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Inventories" xml:lang="en-US" id="label_Inventories">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Inventories" xlink:to="label_Inventories" xlink:title="label: Inventories to label_Inventories"/>
    <label xlink:type="resource" xlink:label="label_Inventories_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Inventories" xml:lang="en-US" id="label_Inventories_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Inventories" xlink:to="label_Inventories_2" xlink:title="label: Inventories to label_Inventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapitalMember" xml:lang="en-US" id="label_IssuedCapitalMember">Issued capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember" xlink:title="label: IssuedCapitalMember to label_IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapitalMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapitalMember" xml:lang="en-US" id="label_IssuedCapitalMember_2">Issued Share Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember_2" xlink:title="label: IssuedCapitalMember to label_IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapitalMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IssuedCapitalMember" xml:lang="en-US" id="label_IssuedCapitalMember_3">Common Shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember_3" xlink:title="label: IssuedCapitalMember to label_IssuedCapitalMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_IssuedCapital" xml:lang="en-US" id="label_IssuedCapital">As at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital" xlink:title="label: IssuedCapital to label_IssuedCapital"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapital_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_IssuedCapital" xml:lang="en-US" id="label_IssuedCapital_2">As at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital_2" xlink:title="label: IssuedCapital to label_IssuedCapital"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapital_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapital" xml:lang="en-US" id="label_IssuedCapital_3">Issued Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital_3" xlink:title="label: IssuedCapital to label_IssuedCapital"/>
    <label xlink:type="resource" xlink:label="label_IssuedCapital_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapital" xml:lang="en-US" id="label_IssuedCapital_4">Issued share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital_4" xlink:title="label: IssuedCapital to label_IssuedCapital"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="KeyManagementPersonnelCompensationSharebasedPayment" xlink:title="KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationSharebasedPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationSharebasedPayment" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationSharebasedPayment">Key management personnel compensation, share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="label_KeyManagementPersonnelCompensationSharebasedPayment" xlink:title="label: KeyManagementPersonnelCompensationSharebasedPayment to label_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationSharebasedPayment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationSharebasedPayment" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationSharebasedPayment_2">Share-based payments (note 13)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="label_KeyManagementPersonnelCompensationSharebasedPayment_2" xlink:title="label: KeyManagementPersonnelCompensationSharebasedPayment to label_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">Key management personnel compensation, short-term employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="label: KeyManagementPersonnelCompensationShorttermEmployeeBenefits to label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_2">Short-term employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_2" xlink:title="label: KeyManagementPersonnelCompensationShorttermEmployeeBenefits to label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensation" xml:lang="en-US" id="label_KeyManagementPersonnelCompensation">Key management personnel compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensation" xlink:to="label_KeyManagementPersonnelCompensation" xlink:title="label: KeyManagementPersonnelCompensation to label_KeyManagementPersonnelCompensation"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensation" xml:lang="en-US" id="label_KeyManagementPersonnelCompensation_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensation" xlink:to="label_KeyManagementPersonnelCompensation_2" xlink:title="label: KeyManagementPersonnelCompensation to label_KeyManagementPersonnelCompensation"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <label xlink:type="resource" xlink:label="label_KeyManagementPersonnelOfEntityOrParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelOfEntityOrParentMember" xml:lang="en-US" id="label_KeyManagementPersonnelOfEntityOrParentMember">Key management personnel of entity or parent [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="label_KeyManagementPersonnelOfEntityOrParentMember" xlink:title="label: KeyManagementPersonnelOfEntityOrParentMember to label_KeyManagementPersonnelOfEntityOrParentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeasesAsLesseeRelatedPartyTransactions" xlink:label="LeasesAsLesseeRelatedPartyTransactions" xlink:title="LeasesAsLesseeRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_LeasesAsLesseeRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesAsLesseeRelatedPartyTransactions" xml:lang="en-US" id="label_LeasesAsLesseeRelatedPartyTransactions">Leases As Lessee Related Party Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAsLesseeRelatedPartyTransactions" xlink:to="label_LeasesAsLesseeRelatedPartyTransactions" xlink:title="label: LeasesAsLesseeRelatedPartyTransactions to label_LeasesAsLesseeRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:label="label_LeasesAsLesseeRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesAsLesseeRelatedPartyTransactions" xml:lang="en-US" id="label_LeasesAsLesseeRelatedPartyTransactions_2">Rental expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAsLesseeRelatedPartyTransactions" xlink:to="label_LeasesAsLesseeRelatedPartyTransactions_2" xlink:title="label: LeasesAsLesseeRelatedPartyTransactions to label_LeasesAsLesseeRelatedPartyTransactions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities"/>
    <label xlink:type="resource" xlink:label="label_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities" xlink:title="label: Liabilities to label_Liabilities"/>
    <label xlink:type="resource" xlink:label="label_Liabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities_2">TOTAL LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_2" xlink:title="label: Liabilities to label_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="LiabilityAssetOfDefinedBenefitPlans" xlink:title="LiabilityAssetOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:label="label_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilityAssetOfDefinedBenefitPlans" xml:lang="en-US" id="label_LiabilityAssetOfDefinedBenefitPlans">Net defined benefit liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilityAssetOfDefinedBenefitPlans" xlink:to="label_LiabilityAssetOfDefinedBenefitPlans" xlink:title="label: LiabilityAssetOfDefinedBenefitPlans to label_LiabilityAssetOfDefinedBenefitPlans"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_LongtermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongtermBorrowings" xml:lang="en-US" id="label_LongtermBorrowings_2">Total Borrowings - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings" xlink:title="label: LongtermBorrowings to label_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_LongtermBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongtermBorrowings" xml:lang="en-US" id="label_LongtermBorrowings_3">Long-term borrowings, net of current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_2" xlink:title="label: LongtermBorrowings to label_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_LongtermBorrowings_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LongtermBorrowings" xml:lang="en-US" id="label_LongtermBorrowings">Long-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_3" xlink:title="label: LongtermBorrowings to label_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_LongtermBorrowings_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LongtermBorrowings" xml:lang="en-US" id="label_LongtermBorrowings_4">Total Borrowings - Long-Term Portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_4" xlink:title="label: LongtermBorrowings to label_LongtermBorrowings"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaterialIncomeAndExpenseAbstract" xlink:label="MaterialIncomeAndExpenseAbstract" xlink:title="MaterialIncomeAndExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="label_MaterialIncomeAndExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaterialIncomeAndExpenseAbstract" xml:lang="en-US" id="label_MaterialIncomeAndExpenseAbstract">EXPENSES &amp; OTHER OPERATING INCOME:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="label_MaterialIncomeAndExpenseAbstract" xlink:title="label: MaterialIncomeAndExpenseAbstract to label_MaterialIncomeAndExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentAssetsAbstract" xlink:label="MiscellaneousCurrentAssetsAbstract" xlink:title="MiscellaneousCurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_MiscellaneousCurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MiscellaneousCurrentAssetsAbstract" xml:lang="en-US" id="label_MiscellaneousCurrentAssetsAbstract">Prepayments and other assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="label_MiscellaneousCurrentAssetsAbstract" xlink:title="label: MiscellaneousCurrentAssetsAbstract to label_MiscellaneousCurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentLiabilitiesAbstract" xlink:label="MiscellaneousCurrentLiabilitiesAbstract" xlink:title="MiscellaneousCurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_MiscellaneousCurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MiscellaneousCurrentLiabilitiesAbstract" xml:lang="en-US" id="label_MiscellaneousCurrentLiabilitiesAbstract">Accrued liabilities and other payables [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="label_MiscellaneousCurrentLiabilitiesAbstract" xlink:title="label: MiscellaneousCurrentLiabilitiesAbstract to label_MiscellaneousCurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="NameOfSubsidiary" xlink:title="NameOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_NameOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NameOfSubsidiary" xml:lang="en-US" id="label_NameOfSubsidiary">Name Of Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfSubsidiary" xlink:to="label_NameOfSubsidiary" xlink:title="label: NameOfSubsidiary to label_NameOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="label_NameOfSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NameOfSubsidiary" xml:lang="en-US" id="label_NameOfSubsidiary_2">Vessel Owned</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfSubsidiary" xlink:to="label_NameOfSubsidiary_2" xlink:title="label: NameOfSubsidiary to label_NameOfSubsidiary"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="NoncurrentAssetsAbstract" xlink:title="NoncurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssetsAbstract" xml:lang="en-US" id="label_NoncurrentAssetsAbstract">Non-current assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsAbstract" xlink:to="label_NoncurrentAssetsAbstract" xlink:title="label: NoncurrentAssetsAbstract to label_NoncurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentAssetsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentAssetsAbstract" xml:lang="en-US" id="label_NoncurrentAssetsAbstract_2">NON-CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsAbstract" xlink:to="label_NoncurrentAssetsAbstract_2" xlink:title="label: NoncurrentAssetsAbstract to label_NoncurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="NoncurrentAssets" xlink:title="NoncurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssets" xml:lang="en-US" id="label_NoncurrentAssets">Non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_NoncurrentAssets" xlink:title="label: NoncurrentAssets to label_NoncurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NoncurrentAssets" xml:lang="en-US" id="label_NoncurrentAssets_2">Total non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_NoncurrentAssets_2" xlink:title="label: NoncurrentAssets to label_NoncurrentAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="NoncurrentLiabilitiesAbstract" xlink:title="NoncurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentLiabilitiesAbstract" xml:lang="en-US" id="label_NoncurrentLiabilitiesAbstract">Noncurrent Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="label_NoncurrentLiabilitiesAbstract" xlink:title="label: NoncurrentLiabilitiesAbstract to label_NoncurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentLiabilitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentLiabilitiesAbstract" xml:lang="en-US" id="label_NoncurrentLiabilitiesAbstract_2">NON-CURRENT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="label_NoncurrentLiabilitiesAbstract_2" xlink:title="label: NoncurrentLiabilitiesAbstract to label_NoncurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="NoncurrentLiabilities" xlink:title="NoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentLiabilities" xml:lang="en-US" id="label_NoncurrentLiabilities">Non current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilities" xlink:to="label_NoncurrentLiabilities" xlink:title="label: NoncurrentLiabilities to label_NoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NoncurrentLiabilities" xml:lang="en-US" id="label_NoncurrentLiabilities_2">Total non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilities" xlink:to="label_NoncurrentLiabilities_2" xlink:title="label: NoncurrentLiabilities to label_NoncurrentLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="NoncurrentProvisionsForEmployeeBenefits" xlink:title="NoncurrentProvisionsForEmployeeBenefits"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentProvisionsForEmployeeBenefits" xml:lang="en-US" id="label_NoncurrentProvisionsForEmployeeBenefits">Non current Provisions For Employee Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentProvisionsForEmployeeBenefits" xlink:to="label_NoncurrentProvisionsForEmployeeBenefits" xlink:title="label: NoncurrentProvisionsForEmployeeBenefits to label_NoncurrentProvisionsForEmployeeBenefits"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentProvisionsForEmployeeBenefits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentProvisionsForEmployeeBenefits" xml:lang="en-US" id="label_NoncurrentProvisionsForEmployeeBenefits_2">Provision for staff retirement indemnities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentProvisionsForEmployeeBenefits" xlink:to="label_NoncurrentProvisionsForEmployeeBenefits_2" xlink:title="label: NoncurrentProvisionsForEmployeeBenefits to label_NoncurrentProvisionsForEmployeeBenefits"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="NumberOfSharesAuthorised" xlink:title="NumberOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesAuthorised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesAuthorised" xml:lang="en-US" id="label_NumberOfSharesAuthorised">Number Of Shares Authorised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesAuthorised" xlink:to="label_NumberOfSharesAuthorised" xlink:title="label: NumberOfSharesAuthorised to label_NumberOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesAuthorised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesAuthorised" xml:lang="en-US" id="label_NumberOfSharesAuthorised_2">Number of shares authorised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesAuthorised" xlink:to="label_NumberOfSharesAuthorised_2" xlink:title="label: NumberOfSharesAuthorised to label_NumberOfSharesAuthorised"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAbstract" xlink:label="NumberOfSharesIssuedAbstract" xlink:title="NumberOfSharesIssuedAbstract"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssuedAbstract" xml:lang="en-US" id="label_NumberOfSharesIssuedAbstract">Number of shares issued [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="label_NumberOfSharesIssuedAbstract" xlink:title="label: NumberOfSharesIssuedAbstract to label_NumberOfSharesIssuedAbstract"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesIssuedAbstract" xml:lang="en-US" id="label_NumberOfSharesIssuedAbstract_2">Number of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="label_NumberOfSharesIssuedAbstract_2" xlink:title="label: NumberOfSharesIssuedAbstract to label_NumberOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="NumberOfSharesIssuedAndFullyPaid" xlink:title="NumberOfSharesIssuedAndFullyPaid"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedAndFullyPaid" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_NumberOfSharesIssuedAndFullyPaid" xml:lang="en-US" id="label_NumberOfSharesIssuedAndFullyPaid">As at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedAndFullyPaid" xlink:to="label_NumberOfSharesIssuedAndFullyPaid" xlink:title="label: NumberOfSharesIssuedAndFullyPaid to label_NumberOfSharesIssuedAndFullyPaid"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedAndFullyPaid_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_NumberOfSharesIssuedAndFullyPaid" xml:lang="en-US" id="label_NumberOfSharesIssuedAndFullyPaid_2">As at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedAndFullyPaid" xlink:to="label_NumberOfSharesIssuedAndFullyPaid_2" xlink:title="label: NumberOfSharesIssuedAndFullyPaid to label_NumberOfSharesIssuedAndFullyPaid"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedAndFullyPaid_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssuedAndFullyPaid" xml:lang="en-US" id="label_NumberOfSharesIssuedAndFullyPaid_3">Number of shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedAndFullyPaid" xlink:to="label_NumberOfSharesIssuedAndFullyPaid_3" xlink:title="label: NumberOfSharesIssuedAndFullyPaid to label_NumberOfSharesIssuedAndFullyPaid"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="NumberOfSharesIssued" xlink:title="NumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_NumberOfSharesIssued" xml:lang="en-US" id="label_NumberOfSharesIssued">As at December 31,</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued" xlink:title="label: NumberOfSharesIssued to label_NumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_NumberOfSharesIssued" xml:lang="en-US" id="label_NumberOfSharesIssued_2">As at December 31,</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_2" xlink:title="label: NumberOfSharesIssued to label_NumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssued" xml:lang="en-US" id="label_NumberOfSharesIssued_3">Number of shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_3" xlink:title="label: NumberOfSharesIssued to label_NumberOfSharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesOutstanding" xml:lang="en-US" id="label_NumberOfSharesOutstanding">Number Of Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_NumberOfSharesOutstanding" xlink:title="label: NumberOfSharesOutstanding to label_NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesOutstanding" xml:lang="en-US" id="label_NumberOfSharesOutstanding_2">Number of shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_NumberOfSharesOutstanding_2" xlink:title="label: NumberOfSharesOutstanding to label_NumberOfSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OfficeEquipment" xlink:label="OfficeEquipment" xlink:title="OfficeEquipment"/>
    <label xlink:type="resource" xlink:label="label_OfficeEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OfficeEquipment" xml:lang="en-US" id="label_OfficeEquipment">Office Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OfficeEquipment" xlink:to="label_OfficeEquipment" xlink:title="label: OfficeEquipment to label_OfficeEquipment"/>
    <label xlink:type="resource" xlink:label="label_OfficeEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OfficeEquipment" xml:lang="en-US" id="label_OfficeEquipment_2">Office furniture and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OfficeEquipment" xlink:to="label_OfficeEquipment_2" xlink:title="label: OfficeEquipment to label_OfficeEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OperatingExpense" xlink:label="OperatingExpense" xlink:title="OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_2">Operating Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_OperatingExpense_2" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_3">Vessel operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_OperatingExpense_3" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_OperatingExpense" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <label xlink:type="resource" xlink:label="label_OrdinarySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrdinarySharesMember" xml:lang="en-US" id="label_OrdinarySharesMember">Ordinary shares [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember" xlink:title="label: OrdinarySharesMember to label_OrdinarySharesMember"/>
    <label xlink:type="resource" xlink:label="label_OrdinarySharesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OrdinarySharesMember" xml:lang="en-US" id="label_OrdinarySharesMember_2">Common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember_2" xlink:title="label: OrdinarySharesMember to label_OrdinarySharesMember"/>
    <label xlink:type="resource" xlink:label="label_OrdinarySharesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OrdinarySharesMember" xml:lang="en-US" id="label_OrdinarySharesMember_3">Common Shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember_3" xlink:title="label: OrdinarySharesMember to label_OrdinarySharesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncome" xml:lang="en-US" id="label_OtherComprehensiveIncome">Other Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome" xlink:title="label: OtherComprehensiveIncome to label_OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncome" xml:lang="en-US" id="label_OtherComprehensiveIncome_2">Other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_2" xlink:title="label: OtherComprehensiveIncome to label_OtherComprehensiveIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentPayables" xlink:label="OtherCurrentPayables" xlink:title="OtherCurrentPayables"/>
    <label xlink:type="resource" xlink:label="label_OtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentPayables" xml:lang="en-US" id="label_OtherCurrentPayables">Other Current Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentPayables" xlink:to="label_OtherCurrentPayables" xlink:title="label: OtherCurrentPayables to label_OtherCurrentPayables"/>
    <label xlink:type="resource" xlink:label="label_OtherCurrentPayables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentPayables" xml:lang="en-US" id="label_OtherCurrentPayables_2">Other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentPayables" xlink:to="label_OtherCurrentPayables_2" xlink:title="label: OtherCurrentPayables to label_OtherCurrentPayables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:label="OtherNoncurrentNonfinancialAssets" xlink:title="OtherNoncurrentNonfinancialAssets"/>
    <label xlink:type="resource" xlink:label="label_OtherNoncurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentNonfinancialAssets" xml:lang="en-US" id="label_OtherNoncurrentNonfinancialAssets">Other Noncurrent Nonfinancial Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentNonfinancialAssets" xlink:to="label_OtherNoncurrentNonfinancialAssets" xlink:title="label: OtherNoncurrentNonfinancialAssets to label_OtherNoncurrentNonfinancialAssets"/>
    <label xlink:type="resource" xlink:label="label_OtherNoncurrentNonfinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentNonfinancialAssets" xml:lang="en-US" id="label_OtherNoncurrentNonfinancialAssets_2">Other non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentNonfinancialAssets" xlink:to="label_OtherNoncurrentNonfinancialAssets_2" xlink:title="label: OtherNoncurrentNonfinancialAssets to label_OtherNoncurrentNonfinancialAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="OtherOperatingIncomeExpense" xlink:title="OtherOperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:label="label_OtherOperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherOperatingIncomeExpense" xml:lang="en-US" id="label_OtherOperatingIncomeExpense">Other Operating Income Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeExpense" xlink:to="label_OtherOperatingIncomeExpense" xlink:title="label: OtherOperatingIncomeExpense to label_OtherOperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:label="label_OtherOperatingIncomeExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherOperatingIncomeExpense" xml:lang="en-US" id="label_OtherOperatingIncomeExpense_2">Other (expenses)/income, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeExpense" xlink:to="label_OtherOperatingIncomeExpense_2" xlink:title="label: OtherOperatingIncomeExpense to label_OtherOperatingIncomeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <label xlink:type="resource" xlink:label="label_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherRelatedPartiesMember" xml:lang="en-US" id="label_OtherRelatedPartiesMember">Other related parties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRelatedPartiesMember" xlink:to="label_OtherRelatedPartiesMember" xlink:title="label: OtherRelatedPartiesMember to label_OtherRelatedPartiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <label xlink:type="resource" xlink:label="label_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ParValuePerShare" xml:lang="en-US" id="label_ParValuePerShare">Par Value Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParValuePerShare" xlink:to="label_ParValuePerShare" xlink:title="label: ParValuePerShare to label_ParValuePerShare"/>
    <label xlink:type="resource" xlink:label="label_ParValuePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ParValuePerShare" xml:lang="en-US" id="label_ParValuePerShare_2">Par value per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParValuePerShare" xlink:to="label_ParValuePerShare_2" xlink:title="label: ParValuePerShare to label_ParValuePerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember"/>
    <label xlink:type="resource" xlink:label="label_PreferenceSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferenceSharesMember" xml:lang="en-US" id="label_PreferenceSharesMember">Preference shares [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesMember" xlink:to="label_PreferenceSharesMember" xlink:title="label: PreferenceSharesMember to label_PreferenceSharesMember"/>
    <label xlink:type="resource" xlink:label="label_PreferenceSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferenceSharesMember" xml:lang="en-US" id="label_PreferenceSharesMember_2">Preferred shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesMember" xlink:to="label_PreferenceSharesMember_2" xlink:title="label: PreferenceSharesMember to label_PreferenceSharesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities_2">Proceeds from loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities_2" xlink:title="label: ProceedsFromBorrowingsClassifiedAsFinancingActivities to label_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities">Proceeds from borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="label: ProceedsFromBorrowingsClassifiedAsFinancingActivities to label_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfessionalFeesExpense" xlink:label="ProfessionalFeesExpense" xlink:title="ProfessionalFeesExpense"/>
    <label xlink:type="resource" xlink:label="label_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfessionalFeesExpense" xml:lang="en-US" id="label_ProfessionalFeesExpense">Professional Fees Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfessionalFeesExpense" xlink:to="label_ProfessionalFeesExpense" xlink:title="label: ProfessionalFeesExpense to label_ProfessionalFeesExpense"/>
    <label xlink:type="resource" xlink:label="label_ProfessionalFeesExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfessionalFeesExpense" xml:lang="en-US" id="label_ProfessionalFeesExpense_2">Consulting fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfessionalFeesExpense" xlink:to="label_ProfessionalFeesExpense_2" xlink:title="label: ProfessionalFeesExpense to label_ProfessionalFeesExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:label="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity"/>
    <label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xml:lang="en-US" id="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity">Profit (loss), attributable to ordinary equity holders of parent entity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:to="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="label: ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity to label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity"/>
    <label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xml:lang="en-US" id="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_2">Loss attributable to common equity holders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:to="label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_2" xlink:title="label: ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity to label_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ProfitLossFromOperatingActivities" xlink:title="ProfitLossFromOperatingActivities"/>
    <label xlink:type="resource" xlink:label="label_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossFromOperatingActivities" xml:lang="en-US" id="label_ProfitLossFromOperatingActivities">Profit Loss From Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromOperatingActivities" xlink:to="label_ProfitLossFromOperatingActivities" xlink:title="label: ProfitLossFromOperatingActivities to label_ProfitLossFromOperatingActivities"/>
    <label xlink:type="resource" xlink:label="label_ProfitLossFromOperatingActivities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLossFromOperatingActivities" xml:lang="en-US" id="label_ProfitLossFromOperatingActivities_2">Operating loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromOperatingActivities" xlink:to="label_ProfitLossFromOperatingActivities_2" xlink:title="label: ProfitLossFromOperatingActivities to label_ProfitLossFromOperatingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <label xlink:type="resource" xlink:label="label_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss">(Loss)/Net profit for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss" xlink:title="label: ProfitLoss to label_ProfitLoss"/>
    <label xlink:type="resource" xlink:label="label_ProfitLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_2">Loss for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_2" xlink:title="label: ProfitLoss to label_ProfitLoss"/>
    <label xlink:type="resource" xlink:label="label_ProfitLoss_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_3">TOTAL LOSS FOR THE YEAR</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_3" xlink:title="label: ProfitLoss to label_ProfitLoss"/>
    <label xlink:type="resource" xlink:label="label_ProfitLoss_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_4">Profit for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_4" xlink:title="label: ProfitLoss to label_ProfitLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentMember" xml:lang="en-US" id="label_PropertyPlantAndEquipmentMember">Property, plant and equipment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="label_PropertyPlantAndEquipmentMember" xlink:title="label: PropertyPlantAndEquipmentMember to label_PropertyPlantAndEquipmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en-US" id="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">Purchase of property, plant and equipment, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="label: PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en-US" id="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_2">Vessel purchase price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_2" xlink:title="label: PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en-US" id="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_3">Purchase of vessel equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_3" xlink:title="label: PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <label xlink:type="resource" xlink:label="label_RelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartiesMember" xml:lang="en-US" id="label_RelatedPartiesMember">Related parties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartiesMember" xlink:to="label_RelatedPartiesMember" xlink:title="label: RelatedPartiesMember to label_RelatedPartiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract"/>
    <label xlink:type="resource" xlink:label="label_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionsAbstract" xml:lang="en-US" id="label_RelatedPartyTransactionsAbstract">Related party transactions [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="label_RelatedPartyTransactionsAbstract" xlink:title="label: RelatedPartyTransactionsAbstract to label_RelatedPartyTransactionsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_3">Repayment of long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_2" xlink:title="label: RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">Repayments of debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_3" xlink:title="label: RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_2">Repayments of borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="label: RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_4">Repayment of long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_4" xlink:title="label: RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalents_2">Restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents_2" xlink:title="label: RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalents_3">Restricted cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents_3" xlink:title="label: RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalents">Pledged cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents" xlink:title="label: RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:label="label_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember">Retained earnings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember" xlink:title="label: RetainedEarningsMember to label_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:label="label_RetainedEarningsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember_2">(Accumulated Deficit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember_2" xlink:title="label: RetainedEarningsMember to label_RetainedEarningsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="RetainedEarnings" xlink:title="RetainedEarnings"/>
    <label xlink:type="resource" xlink:label="label_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarnings" xml:lang="en-US" id="label_RetainedEarnings">Retained Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_RetainedEarnings" xlink:title="label: RetainedEarnings to label_RetainedEarnings"/>
    <label xlink:type="resource" xlink:label="label_RetainedEarnings_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RetainedEarnings" xml:lang="en-US" id="label_RetainedEarnings_2">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_RetainedEarnings_2" xlink:title="label: RetainedEarnings to label_RetainedEarnings"/>
    <label xlink:type="resource" xlink:label="label_RetainedEarnings_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarnings" xml:lang="en-US" id="label_RetainedEarnings_3">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_RetainedEarnings_3" xlink:title="label: RetainedEarnings to label_RetainedEarnings"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueAbstract" xlink:label="RevenueAbstract" xlink:title="RevenueAbstract"/>
    <label xlink:type="resource" xlink:label="label_RevenueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueAbstract" xml:lang="en-US" id="label_RevenueAbstract">REVENUE:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueAbstract" xlink:to="label_RevenueAbstract" xlink:title="label: RevenueAbstract to label_RevenueAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromInterest" xlink:label="RevenueFromInterest" xlink:title="RevenueFromInterest"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromInterest" xml:lang="en-US" id="label_RevenueFromInterest">Revenue From Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromInterest" xlink:to="label_RevenueFromInterest" xlink:title="label: RevenueFromInterest to label_RevenueFromInterest"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromInterest" xml:lang="en-US" id="label_RevenueFromInterest_2">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromInterest" xlink:to="label_RevenueFromInterest_2" xlink:title="label: RevenueFromInterest to label_RevenueFromInterest"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:label="RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:title="RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromRenderingOfInformationTechnologyConsultingServices" xml:lang="en-US" id="label_RevenueFromRenderingOfInformationTechnologyConsultingServices">Revenue From Rendering Of Information Technology Consulting Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:to="label_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:title="label: RevenueFromRenderingOfInformationTechnologyConsultingServices to label_RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromRenderingOfInformationTechnologyConsultingServices_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromRenderingOfInformationTechnologyConsultingServices" xml:lang="en-US" id="label_RevenueFromRenderingOfInformationTechnologyConsultingServices_2">Management &amp; consulting fee income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:to="label_RevenueFromRenderingOfInformationTechnologyConsultingServices_2" xlink:title="label: RevenueFromRenderingOfInformationTechnologyConsultingServices to label_RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="RevenueFromRenderingOfServices" xlink:title="RevenueFromRenderingOfServices"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromRenderingOfServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromRenderingOfServices" xml:lang="en-US" id="label_RevenueFromRenderingOfServices">Revenue From Rendering Of services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRenderingOfServices" xlink:to="label_RevenueFromRenderingOfServices" xlink:title="label: RevenueFromRenderingOfServices to label_RevenueFromRenderingOfServices"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromRenderingOfServices_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromRenderingOfServices" xml:lang="en-US" id="label_RevenueFromRenderingOfServices_2">Voyage revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRenderingOfServices" xlink:to="label_RevenueFromRenderingOfServices_2" xlink:title="label: RevenueFromRenderingOfServices to label_RevenueFromRenderingOfServices"/>
    <label xlink:type="resource" xlink:label="label_RevenueFromRenderingOfServices_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RevenueFromRenderingOfServices" xml:lang="en-US" id="label_RevenueFromRenderingOfServices_3">Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRenderingOfServices" xlink:to="label_RevenueFromRenderingOfServices_3" xlink:title="label: RevenueFromRenderingOfServices to label_RevenueFromRenderingOfServices"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="Revenue" xlink:title="Revenue"/>
    <label xlink:type="resource" xlink:label="label_Revenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Revenue" xml:lang="en-US" id="label_Revenue">Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue" xlink:title="label: Revenue to label_Revenue"/>
    <label xlink:type="resource" xlink:label="label_Revenue_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Revenue" xml:lang="en-US" id="label_Revenue_2">Total Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_2" xlink:title="label: Revenue to label_Revenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xml:lang="en-US" id="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment">Reversal of impairment loss recognised in profit or loss, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="label: ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment to label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xml:lang="en-US" id="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2">Reversal of impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_2" xlink:title="label: ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment to label_ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember"/>
    <label xlink:type="resource" xlink:label="label_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharePremiumMember" xml:lang="en-US" id="label_SharePremiumMember">Share premium [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremiumMember" xlink:to="label_SharePremiumMember" xlink:title="label: SharePremiumMember to label_SharePremiumMember"/>
    <label xlink:type="resource" xlink:label="label_SharePremiumMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharePremiumMember" xml:lang="en-US" id="label_SharePremiumMember_2">Share Premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremiumMember" xlink:to="label_SharePremiumMember_2" xlink:title="label: SharePremiumMember to label_SharePremiumMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremium" xlink:label="SharePremium" xlink:title="SharePremium"/>
    <label xlink:type="resource" xlink:label="label_SharePremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharePremium" xml:lang="en-US" id="label_SharePremium">Share Premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremium" xlink:to="label_SharePremium" xlink:title="label: SharePremium to label_SharePremium"/>
    <label xlink:type="resource" xlink:label="label_SharePremium_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharePremium" xml:lang="en-US" id="label_SharePremium_2">Share premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremium" xlink:to="label_SharePremium_2" xlink:title="label: SharePremium to label_SharePremium"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShipsMember" xlink:label="ShipsMember" xlink:title="ShipsMember"/>
    <label xlink:type="resource" xlink:label="label_ShipsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShipsMember" xml:lang="en-US" id="label_ShipsMember">Ships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShipsMember" xlink:to="label_ShipsMember" xlink:title="label: ShipsMember to label_ShipsMember"/>
    <label xlink:type="resource" xlink:label="label_ShipsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShipsMember" xml:lang="en-US" id="label_ShipsMember_2">Vessels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShipsMember" xlink:to="label_ShipsMember_2" xlink:title="label: ShipsMember to label_ShipsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <label xlink:type="resource" xlink:label="label_Ships" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_Ships" xml:lang="en-US" id="label_Ships">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ships" xlink:to="label_Ships" xlink:title="label: Ships to label_Ships"/>
    <label xlink:type="resource" xlink:label="label_Ships_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_Ships" xml:lang="en-US" id="label_Ships_2">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ships" xlink:to="label_Ships_2" xlink:title="label: Ships to label_Ships"/>
    <label xlink:type="resource" xlink:label="label_Ships_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Ships" xml:lang="en-US" id="label_Ships_3">Ships</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ships" xlink:to="label_Ships_3" xlink:title="label: Ships to label_Ships"/>
    <label xlink:type="resource" xlink:label="label_Ships_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Ships" xml:lang="en-US" id="label_Ships_4">Vessels, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ships" xlink:to="label_Ships_4" xlink:title="label: Ships to label_Ships"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_ShorttermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermBorrowings" xml:lang="en-US" id="label_ShorttermBorrowings">Short term Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermBorrowings" xlink:to="label_ShorttermBorrowings" xlink:title="label: ShorttermBorrowings to label_ShorttermBorrowings"/>
    <label xlink:type="resource" xlink:label="label_ShorttermBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermBorrowings" xml:lang="en-US" id="label_ShorttermBorrowings_2">Short-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermBorrowings" xlink:to="label_ShorttermBorrowings_2" xlink:title="label: ShorttermBorrowings to label_ShorttermBorrowings"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="ShorttermDepositsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_ShorttermDepositsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermDepositsClassifiedAsCashEquivalents" xml:lang="en-US" id="label_ShorttermDepositsClassifiedAsCashEquivalents">Short-term deposits, classified as cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="label_ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="label: ShorttermDepositsClassifiedAsCashEquivalents to label_ShorttermDepositsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_ShorttermDepositsClassifiedAsCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermDepositsClassifiedAsCashEquivalents" xml:lang="en-US" id="label_ShorttermDepositsClassifiedAsCashEquivalents_2">Bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="label_ShorttermDepositsClassifiedAsCashEquivalents_2" xlink:title="label: ShorttermDepositsClassifiedAsCashEquivalents to label_ShorttermDepositsClassifiedAsCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:label="label_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfCashFlowsAbstract" xml:lang="en-US" id="label_StatementOfCashFlowsAbstract">Statement Of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="label_StatementOfCashFlowsAbstract" xlink:title="label: StatementOfCashFlowsAbstract to label_StatementOfCashFlowsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="StatementOfChangesInEquityAbstract" xlink:title="StatementOfChangesInEquityAbstract"/>
    <label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityAbstract" xml:lang="en-US" id="label_StatementOfChangesInEquityAbstract">Consolidated Statement of Changes in Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityAbstract" xlink:to="label_StatementOfChangesInEquityAbstract" xlink:title="label: StatementOfChangesInEquityAbstract to label_StatementOfChangesInEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="StatementOfChangesInEquityLineItems" xlink:title="StatementOfChangesInEquityLineItems"/>
    <label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityLineItems" xml:lang="en-US" id="label_StatementOfChangesInEquityLineItems">Statement of changes in equity [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="label_StatementOfChangesInEquityLineItems" xlink:title="label: StatementOfChangesInEquityLineItems to label_StatementOfChangesInEquityLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="StatementOfChangesInEquityTable" xlink:title="StatementOfChangesInEquityTable"/>
    <label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityTable" xml:lang="en-US" id="label_StatementOfChangesInEquityTable">Consolidated Statement of Changes in Equity [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityTable" xlink:to="label_StatementOfChangesInEquityTable" xlink:title="label: StatementOfChangesInEquityTable to label_StatementOfChangesInEquityTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialPositionAbstract" xml:lang="en-US" id="label_StatementOfFinancialPositionAbstract">Statement Of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="label_StatementOfFinancialPositionAbstract" xlink:title="label: StatementOfFinancialPositionAbstract to label_StatementOfFinancialPositionAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember"/>
    <label xlink:type="resource" xlink:label="label_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsidiariesMember" xml:lang="en-US" id="label_SubsidiariesMember">Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_SubsidiariesMember" xlink:title="label: SubsidiariesMember to label_SubsidiariesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentPayables" xml:lang="en-US" id="label_TradeAndOtherCurrentPayables">Trade And Other Current Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayables" xlink:to="label_TradeAndOtherCurrentPayables" xlink:title="label: TradeAndOtherCurrentPayables to label_TradeAndOtherCurrentPayables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentPayables" xml:lang="en-US" id="label_TradeAndOtherCurrentPayables_2">Trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayables" xlink:to="label_TradeAndOtherCurrentPayables_2" xlink:title="label: TradeAndOtherCurrentPayables to label_TradeAndOtherCurrentPayables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayables_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeAndOtherCurrentPayables" xml:lang="en-US" id="label_TradeAndOtherCurrentPayables_3">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayables" xlink:to="label_TradeAndOtherCurrentPayables_3" xlink:title="label: TradeAndOtherCurrentPayables to label_TradeAndOtherCurrentPayables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="TradeAndOtherCurrentReceivables" xlink:title="TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentReceivables" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivables">Trade And Other Current Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivables" xlink:to="label_TradeAndOtherCurrentReceivables" xlink:title="label: TradeAndOtherCurrentReceivables to label_TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentReceivables" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivables_2">Trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivables" xlink:to="label_TradeAndOtherCurrentReceivables_2" xlink:title="label: TradeAndOtherCurrentReceivables to label_TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivables_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeAndOtherCurrentReceivables" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivables_3">Trade accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivables" xlink:to="label_TradeAndOtherCurrentReceivables_3" xlink:title="label: TradeAndOtherCurrentReceivables to label_TradeAndOtherCurrentReceivables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherPayablesAbstract" xlink:label="TradeAndOtherPayablesAbstract" xlink:title="TradeAndOtherPayablesAbstract"/>
    <label xlink:type="resource" xlink:label="label_TradeAndOtherPayablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherPayablesAbstract" xml:lang="en-US" id="label_TradeAndOtherPayablesAbstract">Trade accounts payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherPayablesAbstract" xlink:to="label_TradeAndOtherPayablesAbstract" xlink:title="label: TradeAndOtherPayablesAbstract to label_TradeAndOtherPayablesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransportationExpense" xlink:label="TransportationExpense" xlink:title="TransportationExpense"/>
    <label xlink:type="resource" xlink:label="label_TransportationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransportationExpense" xml:lang="en-US" id="label_TransportationExpense">Transportation Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationExpense" xlink:to="label_TransportationExpense" xlink:title="label: TransportationExpense to label_TransportationExpense"/>
    <label xlink:type="resource" xlink:label="label_TransportationExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TransportationExpense" xml:lang="en-US" id="label_TransportationExpense_2">Voyage expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationExpense" xlink:to="label_TransportationExpense_2" xlink:title="label: TransportationExpense to label_TransportationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <label xlink:type="resource" xlink:label="label_UndrawnBorrowingFacilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UndrawnBorrowingFacilities" xml:lang="en-US" id="label_UndrawnBorrowingFacilities_2">Undrawn borrowing facilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndrawnBorrowingFacilities" xlink:to="label_UndrawnBorrowingFacilities_2" xlink:title="label: UndrawnBorrowingFacilities to label_UndrawnBorrowingFacilities"/>
    <label xlink:type="resource" xlink:label="label_UndrawnBorrowingFacilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UndrawnBorrowingFacilities" xml:lang="en-US" id="label_UndrawnBorrowingFacilities">Credit Facility, Remaining borrowing capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndrawnBorrowingFacilities" xlink:to="label_UndrawnBorrowingFacilities" xlink:title="label: UndrawnBorrowingFacilities to label_UndrawnBorrowingFacilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xml:lang="en-US" id="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment">Useful Lives Or Depreciation Rates Property Plant And Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:to="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="label: UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment to label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xml:lang="en-US" id="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_2">Useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:to="label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_2" xlink:title="label: UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment to label_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageShares" xlink:label="WeightedAverageShares" xlink:title="WeightedAverageShares"/>
    <label xlink:type="resource" xlink:label="label_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageShares" xml:lang="en-US" id="label_WeightedAverageShares">Weighted average number of ordinary shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageShares" xlink:to="label_WeightedAverageShares" xlink:title="label: WeightedAverageShares to label_WeightedAverageShares"/>
    <label xlink:type="resource" xlink:label="label_WeightedAverageShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageShares" xml:lang="en-US" id="label_WeightedAverageShares_2">Weighted average number of shares for basic and diluted LPS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageShares" xlink:to="label_WeightedAverageShares_2" xlink:title="label: WeightedAverageShares to label_WeightedAverageShares"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodFourMember" xlink:label="DebtInstrumentPaymentPeriodFourMember" xlink:title="DebtInstrumentPaymentPeriodFourMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodFourMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodFourMember">Debt Instrument Payment Reriod Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodFourMember" xlink:to="label_DebtInstrumentPaymentPeriodFourMember" xlink:title="label: DebtInstrumentPaymentPeriodFourMember to label_DebtInstrumentPaymentPeriodFourMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodFourMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodFourMember_2">Later than three years and not later than four years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodFourMember" xlink:to="label_DebtInstrumentPaymentPeriodFourMember_2" xlink:title="label: DebtInstrumentPaymentPeriodFourMember to label_DebtInstrumentPaymentPeriodFourMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodFiveMember" xlink:label="DebtInstrumentPaymentPeriodFiveMember" xlink:title="DebtInstrumentPaymentPeriodFiveMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodFiveMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodFiveMember">Debt Instrument Payment Period Five [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodFiveMember" xlink:to="label_DebtInstrumentPaymentPeriodFiveMember" xlink:title="label: DebtInstrumentPaymentPeriodFiveMember to label_DebtInstrumentPaymentPeriodFiveMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodFiveMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodFiveMember_2">Later than four years and not later than five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodFiveMember" xlink:to="label_DebtInstrumentPaymentPeriodFiveMember_2" xlink:title="label: DebtInstrumentPaymentPeriodFiveMember to label_DebtInstrumentPaymentPeriodFiveMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentPaymentPeriodSixMember" xlink:label="DebtInstrumentPaymentPeriodSixMember" xlink:title="DebtInstrumentPaymentPeriodSixMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodSixMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPaymentPeriodSixMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodSixMember">Debt Instrument Payment Period Six [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodSixMember" xlink:to="label_DebtInstrumentPaymentPeriodSixMember" xlink:title="label: DebtInstrumentPaymentPeriodSixMember to label_DebtInstrumentPaymentPeriodSixMember"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentPaymentPeriodSixMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPaymentPeriodSixMember" xml:lang="en-US" id="label_DebtInstrumentPaymentPeriodSixMember_2">Later than five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPaymentPeriodSixMember" xlink:to="label_DebtInstrumentPaymentPeriodSixMember_2" xlink:title="label: DebtInstrumentPaymentPeriodSixMember to label_DebtInstrumentPaymentPeriodSixMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsByNameAxis" xml:lang="en-US" id="label_BorrowingsByNameAxis">Borrowings by name [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameAxis" xlink:to="label_BorrowingsByNameAxis" xlink:title="label: BorrowingsByNameAxis to label_BorrowingsByNameAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsByNameMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsByNameMember" xml:lang="en-US" id="label_BorrowingsByNameMember">Borrowings by name [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameMember" xlink:to="label_BorrowingsByNameMember" xlink:title="label: BorrowingsByNameMember to label_BorrowingsByNameMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAGLoanAgreementMember" xlink:label="HSHNordbankAGLoanAgreementMember" xlink:title="HSHNordbankAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_HSHNordbankAGLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HSHNordbankAGLoanAgreementMember" xml:lang="en-US" id="label_HSHNordbankAGLoanAgreementMember">HSH Nordbank AG Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HSHNordbankAGLoanAgreementMember" xlink:to="label_HSHNordbankAGLoanAgreementMember" xlink:title="label: HSHNordbankAGLoanAgreementMember to label_HSHNordbankAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_HSHNordbankAGLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HSHNordbankAGLoanAgreementMember" xml:lang="en-US" id="label_HSHNordbankAGLoanAgreementMember_2">HSH Bank</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HSHNordbankAGLoanAgreementMember" xlink:to="label_HSHNordbankAGLoanAgreementMember_2" xlink:title="label: HSHNordbankAGLoanAgreementMember to label_HSHNordbankAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_HSHNordbankAGLoanAgreementMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_HSHNordbankAGLoanAgreementMember" xml:lang="en-US" id="label_HSHNordbankAGLoanAgreementMember_3">HSH Nordbank AG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HSHNordbankAGLoanAgreementMember" xlink:to="label_HSHNordbankAGLoanAgreementMember_3" xlink:title="label: HSHNordbankAGLoanAgreementMember to label_HSHNordbankAGLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CommerzbankLoanAgreementMember" xlink:label="CommerzbankLoanAgreementMember" xlink:title="CommerzbankLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_CommerzbankLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommerzbankLoanAgreementMember" xml:lang="en-US" id="label_CommerzbankLoanAgreementMember">Commerzbank Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerzbankLoanAgreementMember" xlink:to="label_CommerzbankLoanAgreementMember" xlink:title="label: CommerzbankLoanAgreementMember to label_CommerzbankLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_CommerzbankLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommerzbankLoanAgreementMember" xml:lang="en-US" id="label_CommerzbankLoanAgreementMember_2">Commerzbank</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerzbankLoanAgreementMember" xlink:to="label_CommerzbankLoanAgreementMember_2" xlink:title="label: CommerzbankLoanAgreementMember to label_CommerzbankLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedLoanAgreementMember" xlink:label="FirmentTradingLimitedLoanAgreementMember" xlink:title="FirmentTradingLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirmentTradingLimitedLoanAgreementMember" xml:lang="en-US" id="label_FirmentTradingLimitedLoanAgreementMember">Firment Trading Limited Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedLoanAgreementMember" xlink:to="label_FirmentTradingLimitedLoanAgreementMember" xlink:title="label: FirmentTradingLimitedLoanAgreementMember to label_FirmentTradingLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirmentTradingLimitedLoanAgreementMember" xml:lang="en-US" id="label_FirmentTradingLimitedLoanAgreementMember_2">Firment Trading Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedLoanAgreementMember" xlink:to="label_FirmentTradingLimitedLoanAgreementMember_2" xlink:title="label: FirmentTradingLimitedLoanAgreementMember to label_FirmentTradingLimitedLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedLoanAgreementMember" xlink:label="SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="SilanerInvestmentsLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_SilanerInvestmentsLimitedLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SilanerInvestmentsLimitedLoanAgreementMember" xml:lang="en-US" id="label_SilanerInvestmentsLimitedLoanAgreementMember">Silaner Investments Limited Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilanerInvestmentsLimitedLoanAgreementMember" xlink:to="label_SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="label: SilanerInvestmentsLimitedLoanAgreementMember to label_SilanerInvestmentsLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_SilanerInvestmentsLimitedLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SilanerInvestmentsLimitedLoanAgreementMember" xml:lang="en-US" id="label_SilanerInvestmentsLimitedLoanAgreementMember_2">Silaner Investments Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilanerInvestmentsLimitedLoanAgreementMember" xlink:to="label_SilanerInvestmentsLimitedLoanAgreementMember_2" xlink:title="label: SilanerInvestmentsLimitedLoanAgreementMember to label_SilanerInvestmentsLimitedLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <label xlink:type="resource" xlink:label="label_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityAxis" xml:lang="en-US" id="label_MaturityAxis">Maturity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityAxis" xlink:to="label_MaturityAxis" xlink:title="label: MaturityAxis to label_MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <label xlink:type="resource" xlink:label="label_AggregatedTimeBandsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AggregatedTimeBandsMember" xml:lang="en-US" id="label_AggregatedTimeBandsMember">Aggregated Time Bands [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedTimeBandsMember" xlink:to="label_AggregatedTimeBandsMember" xlink:title="label: AggregatedTimeBandsMember to label_AggregatedTimeBandsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotLaterThanOneYearMember" xml:lang="en-US" id="label_NotLaterThanOneYearMember">Not later than one year [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember" xlink:title="label: NotLaterThanOneYearMember to label_NotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotLaterThanOneYearMember" xml:lang="en-US" id="label_NotLaterThanOneYearMember_2">Not later than one year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember_2" xlink:title="label: NotLaterThanOneYearMember to label_NotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NotLaterThanOneYearMember" xml:lang="en-US" id="label_NotLaterThanOneYearMember_3">Within one year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember_3" xlink:title="label: NotLaterThanOneYearMember to label_NotLaterThanOneYearMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember">Later than one year and not later than two years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="label: LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2">Later than one year and not later than two years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" xlink:title="label: LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_3">2019</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_3" xlink:title="label: LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">Later than two years and not later than three years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="label: LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2">Later than two years and not later than three years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" xlink:title="label: LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_3">2020</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_3" xlink:title="label: LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember">Later than three years and not later than four years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="label: LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2">Later than three years and not later than four years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" xlink:title="label: LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_3">2021</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_3" xlink:title="label: LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember">Later than four years and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="label: LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2">Later than four years and not later than five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" xlink:title="label: LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_3">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_3" xlink:title="label: LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsMember">Later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsMember" xlink:to="label_LaterThanFiveYearsMember" xlink:title="label: LaterThanFiveYearsMember to label_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFiveYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsMember_2">More than 5 years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsMember" xlink:to="label_LaterThanFiveYearsMember_2" xlink:title="label: LaterThanFiveYearsMember to label_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanFiveYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsMember_3">More than five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsMember" xlink:to="label_LaterThanFiveYearsMember_3" xlink:title="label: LaterThanFiveYearsMember to label_LaterThanFiveYearsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesAxis" xlink:label="PeriodOfInterestRatesAxis" xlink:title="PeriodOfInterestRatesAxis"/>
    <label xlink:type="resource" xlink:label="label_PeriodOfInterestRatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfInterestRatesAxis" xml:lang="en-US" id="label_PeriodOfInterestRatesAxis">Period Of Interest Rates [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfInterestRatesAxis" xlink:to="label_PeriodOfInterestRatesAxis" xlink:title="label: PeriodOfInterestRatesAxis to label_PeriodOfInterestRatesAxis"/>
    <label xlink:type="resource" xlink:label="label_PeriodOfInterestRatesAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfInterestRatesAxis" xml:lang="en-US" id="label_PeriodOfInterestRatesAxis_2">Information about the period of the interest rates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfInterestRatesAxis" xlink:to="label_PeriodOfInterestRatesAxis_2" xlink:title="label: PeriodOfInterestRatesAxis to label_PeriodOfInterestRatesAxis"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesMember" xlink:label="PeriodOfInterestRatesMember" xlink:title="PeriodOfInterestRatesMember"/>
    <label xlink:type="resource" xlink:label="label_PeriodOfInterestRatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfInterestRatesMember" xml:lang="en-US" id="label_PeriodOfInterestRatesMember">Period Of Interest Rates [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfInterestRatesMember" xlink:to="label_PeriodOfInterestRatesMember" xlink:title="label: PeriodOfInterestRatesMember to label_PeriodOfInterestRatesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodThreeMonthsMember" xlink:label="InterestPeriodThreeMonthsMember" xlink:title="InterestPeriodThreeMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_InterestPeriodThreeMonthsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestPeriodThreeMonthsMember" xml:lang="en-US" id="label_InterestPeriodThreeMonthsMember">Interest periods of 3 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPeriodThreeMonthsMember" xlink:to="label_InterestPeriodThreeMonthsMember" xlink:title="label: InterestPeriodThreeMonthsMember to label_InterestPeriodThreeMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_InterestPeriodThreeMonthsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPeriodThreeMonthsMember" xml:lang="en-US" id="label_InterestPeriodThreeMonthsMember_2">Interest Period Three Months [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPeriodThreeMonthsMember" xlink:to="label_InterestPeriodThreeMonthsMember_2" xlink:title="label: InterestPeriodThreeMonthsMember to label_InterestPeriodThreeMonthsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodOneMonthMember" xlink:label="InterestPeriodOneMonthMember" xlink:title="InterestPeriodOneMonthMember"/>
    <label xlink:type="resource" xlink:label="label_InterestPeriodOneMonthMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPeriodOneMonthMember" xml:lang="en-US" id="label_InterestPeriodOneMonthMember">Interest Period One Month [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPeriodOneMonthMember" xlink:to="label_InterestPeriodOneMonthMember" xlink:title="label: InterestPeriodOneMonthMember to label_InterestPeriodOneMonthMember"/>
    <label xlink:type="resource" xlink:label="label_InterestPeriodOneMonthMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestPeriodOneMonthMember" xml:lang="en-US" id="label_InterestPeriodOneMonthMember_2">Interest periods of 1 month</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPeriodOneMonthMember" xlink:to="label_InterestPeriodOneMonthMember_2" xlink:title="label: InterestPeriodOneMonthMember to label_InterestPeriodOneMonthMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsInterestRateBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsInterestRateBasis" xml:lang="en-US" id="label_BorrowingsInterestRateBasis">Borrowings Interest Rate Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRateBasis" xlink:to="label_BorrowingsInterestRateBasis" xlink:title="label: BorrowingsInterestRateBasis to label_BorrowingsInterestRateBasis"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsInterestRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsInterestRateBasis" xml:lang="en-US" id="label_BorrowingsInterestRateBasis_2">Borrowings, interest rate basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRateBasis" xlink:to="label_BorrowingsInterestRateBasis_2" xlink:title="label: BorrowingsInterestRateBasis to label_BorrowingsInterestRateBasis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="BorrowingsAdjustmentToInterestRateBasis" xlink:title="BorrowingsAdjustmentToInterestRateBasis"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsAdjustmentToInterestRateBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsAdjustmentToInterestRateBasis" xml:lang="en-US" id="label_BorrowingsAdjustmentToInterestRateBasis">Borrowings, adjustment to interest rate basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsAdjustmentToInterestRateBasis" xlink:to="label_BorrowingsAdjustmentToInterestRateBasis" xlink:title="label: BorrowingsAdjustmentToInterestRateBasis to label_BorrowingsAdjustmentToInterestRateBasis"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsNumberOfPeriodicPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsNumberOfPeriodicPayments" xml:lang="en-US" id="label_BorrowingsNumberOfPeriodicPayments">The number of periodic payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsNumberOfPeriodicPayments" xlink:to="label_BorrowingsNumberOfPeriodicPayments" xlink:title="label: BorrowingsNumberOfPeriodicPayments to label_BorrowingsNumberOfPeriodicPayments"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsNumberOfPeriodicPayments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsNumberOfPeriodicPayments" xml:lang="en-US" id="label_BorrowingsNumberOfPeriodicPayments_2">Number of periodic payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsNumberOfPeriodicPayments" xlink:to="label_BorrowingsNumberOfPeriodicPayments_2" xlink:title="label: BorrowingsNumberOfPeriodicPayments to label_BorrowingsNumberOfPeriodicPayments"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsNumberOfPeriodicPayments_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsNumberOfPeriodicPayments" xml:lang="en-US" id="label_BorrowingsNumberOfPeriodicPayments_3">Borrowings Number Of Periodic Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsNumberOfPeriodicPayments" xlink:to="label_BorrowingsNumberOfPeriodicPayments_3" xlink:title="label: BorrowingsNumberOfPeriodicPayments to label_BorrowingsNumberOfPeriodicPayments"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFrequencyOfPeriodicPayment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsFrequencyOfPeriodicPayment" xml:lang="en-US" id="label_BorrowingsFrequencyOfPeriodicPayment">Frequency of periodic payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFrequencyOfPeriodicPayment" xlink:to="label_BorrowingsFrequencyOfPeriodicPayment" xlink:title="label: BorrowingsFrequencyOfPeriodicPayment to label_BorrowingsFrequencyOfPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFrequencyOfPeriodicPayment_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsFrequencyOfPeriodicPayment" xml:lang="en-US" id="label_BorrowingsFrequencyOfPeriodicPayment_2">Description of the frequency of periodic payments (monthly, quarterly, annual).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFrequencyOfPeriodicPayment" xlink:to="label_BorrowingsFrequencyOfPeriodicPayment_2" xlink:title="label: BorrowingsFrequencyOfPeriodicPayment to label_BorrowingsFrequencyOfPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFrequencyOfPeriodicPayment_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsFrequencyOfPeriodicPayment" xml:lang="en-US" id="label_BorrowingsFrequencyOfPeriodicPayment_3">Borrowings Frequency Of Periodic Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFrequencyOfPeriodicPayment" xlink:to="label_BorrowingsFrequencyOfPeriodicPayment_3" xlink:title="label: BorrowingsFrequencyOfPeriodicPayment to label_BorrowingsFrequencyOfPeriodicPayment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPeriodicPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsPeriodicPayment" xml:lang="en-US" id="label_BorrowingsPeriodicPayment">Amount of the required periodic payments including both interest and principal payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPeriodicPayment" xlink:to="label_BorrowingsPeriodicPayment" xlink:title="label: BorrowingsPeriodicPayment to label_BorrowingsPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPeriodicPayment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsPeriodicPayment" xml:lang="en-US" id="label_BorrowingsPeriodicPayment_2">Periodic payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPeriodicPayment" xlink:to="label_BorrowingsPeriodicPayment_2" xlink:title="label: BorrowingsPeriodicPayment to label_BorrowingsPeriodicPayment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xml:lang="en-US" id="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid">Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:to="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="label: BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid to label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xml:lang="en-US" id="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_2">Balloon Payment to be Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:to="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_2" xlink:title="label: BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid to label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xml:lang="en-US" id="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_3">Borrowings Periodic Payment Terms Balloon Payment To Be Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:to="label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid_3" xlink:title="label: BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid to label_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <label xlink:type="resource" xlink:label="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xml:lang="en-US" id="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio">The ratio of the aggregate fair market value of the mortgaged vessels to the loan outstanding balance.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:to="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="label: FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio to label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <label xlink:type="resource" xlink:label="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xml:lang="en-US" id="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_2">Fair Value Of Mortgaged Vessels To Loan Outstanding Balance Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:to="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_2" xlink:title="label: FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio to label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <label xlink:type="resource" xlink:label="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xml:lang="en-US" id="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_3">Fair value of mortgaged vessels to loan outstanding balance ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:to="label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio_3" xlink:title="label: FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio to label_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:label="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xml:lang="en-US" id="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio">Total Liabilities To Market Adjusted Total Assets Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:to="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="label: TotalLiabilitiesToMarketAdjustedTotalAssetsRatio to label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xml:lang="en-US" id="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_2">Total liabilities to market adjusted total assets ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:to="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_2" xlink:title="label: TotalLiabilitiesToMarketAdjustedTotalAssetsRatio to label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xml:lang="en-US" id="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_3">The ratio of the company's total liabilities to its market adjusted total assets, as required by loan agreement covenants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:to="label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio_3" xlink:title="label: TotalLiabilitiesToMarketAdjustedTotalAssetsRatio to label_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorth" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketAdjustedNetWorth" xml:lang="en-US" id="label_MarketAdjustedNetWorth">Market adjusted net worth</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorth" xlink:to="label_MarketAdjustedNetWorth" xlink:title="label: MarketAdjustedNetWorth to label_MarketAdjustedNetWorth"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorth_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketAdjustedNetWorth" xml:lang="en-US" id="label_MarketAdjustedNetWorth_2">Market Adjusted Net Worth</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorth" xlink:to="label_MarketAdjustedNetWorth_2" xlink:title="label: MarketAdjustedNetWorth to label_MarketAdjustedNetWorth"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorth_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketAdjustedNetWorth" xml:lang="en-US" id="label_MarketAdjustedNetWorth_3">The company's market adjusted net worth.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorth" xlink:to="label_MarketAdjustedNetWorth_3" xlink:title="label: MarketAdjustedNetWorth to label_MarketAdjustedNetWorth"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmountPerVessel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensatingBalanceAmountPerVessel" xml:lang="en-US" id="label_CompensatingBalanceAmountPerVessel">Compensating Balance Amount Per Vessel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmountPerVessel" xlink:to="label_CompensatingBalanceAmountPerVessel" xlink:title="label: CompensatingBalanceAmountPerVessel to label_CompensatingBalanceAmountPerVessel"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmountPerVessel_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensatingBalanceAmountPerVessel" xml:lang="en-US" id="label_CompensatingBalanceAmountPerVessel_2">Compensating Balance, Amount per vessel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmountPerVessel" xlink:to="label_CompensatingBalanceAmountPerVessel_2" xlink:title="label: CompensatingBalanceAmountPerVessel to label_CompensatingBalanceAmountPerVessel"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmountPerVessel_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensatingBalanceAmountPerVessel" xml:lang="en-US" id="label_CompensatingBalanceAmountPerVessel_3">The amount of a specific compensating balance arrangement that is maintained per vessel, under an agreement for a bank loan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmountPerVessel" xlink:to="label_CompensatingBalanceAmountPerVessel_3" xlink:title="label: CompensatingBalanceAmountPerVessel to label_CompensatingBalanceAmountPerVessel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LiquidityToConsolidatedIndebtednessRatio" xlink:label="LiquidityToConsolidatedIndebtednessRatio" xlink:title="LiquidityToConsolidatedIndebtednessRatio"/>
    <label xlink:type="resource" xlink:label="label_LiquidityToConsolidatedIndebtednessRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiquidityToConsolidatedIndebtednessRatio" xml:lang="en-US" id="label_LiquidityToConsolidatedIndebtednessRatio">Liquidity To Consolidated Indebtedness Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityToConsolidatedIndebtednessRatio" xlink:to="label_LiquidityToConsolidatedIndebtednessRatio" xlink:title="label: LiquidityToConsolidatedIndebtednessRatio to label_LiquidityToConsolidatedIndebtednessRatio"/>
    <label xlink:type="resource" xlink:label="label_LiquidityToConsolidatedIndebtednessRatio_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiquidityToConsolidatedIndebtednessRatio" xml:lang="en-US" id="label_LiquidityToConsolidatedIndebtednessRatio_2">Liquidity to indebtedness ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityToConsolidatedIndebtednessRatio" xlink:to="label_LiquidityToConsolidatedIndebtednessRatio_2" xlink:title="label: LiquidityToConsolidatedIndebtednessRatio to label_LiquidityToConsolidatedIndebtednessRatio"/>
    <label xlink:type="resource" xlink:label="label_LiquidityToConsolidatedIndebtednessRatio_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LiquidityToConsolidatedIndebtednessRatio" xml:lang="en-US" id="label_LiquidityToConsolidatedIndebtednessRatio_3">The ratio of the company's liquidity to its consolidated indebtedness.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityToConsolidatedIndebtednessRatio" xlink:to="label_LiquidityToConsolidatedIndebtednessRatio_3" xlink:title="label: LiquidityToConsolidatedIndebtednessRatio to label_LiquidityToConsolidatedIndebtednessRatio"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountOfEquityToBeRaised" xlink:label="AmountOfEquityToBeRaised" xlink:title="AmountOfEquityToBeRaised"/>
    <label xlink:type="resource" xlink:label="label_AmountOfEquityToBeRaised" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfEquityToBeRaised" xml:lang="en-US" id="label_AmountOfEquityToBeRaised">The amount of new equity that the company has to raise, as required by loan agreement covenants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfEquityToBeRaised" xlink:to="label_AmountOfEquityToBeRaised" xlink:title="label: AmountOfEquityToBeRaised to label_AmountOfEquityToBeRaised"/>
    <label xlink:type="resource" xlink:label="label_AmountOfEquityToBeRaised_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfEquityToBeRaised" xml:lang="en-US" id="label_AmountOfEquityToBeRaised_2">Amount Of Equity To Be Raised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfEquityToBeRaised" xlink:to="label_AmountOfEquityToBeRaised_2" xlink:title="label: AmountOfEquityToBeRaised to label_AmountOfEquityToBeRaised"/>
    <label xlink:type="resource" xlink:label="label_AmountOfEquityToBeRaised_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfEquityToBeRaised" xml:lang="en-US" id="label_AmountOfEquityToBeRaised_3">Amount of equity to be raised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfEquityToBeRaised" xlink:to="label_AmountOfEquityToBeRaised_3" xlink:title="label: AmountOfEquityToBeRaised to label_AmountOfEquityToBeRaised"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFaceAmount" xlink:label="BorrowingsFaceAmount" xlink:title="BorrowingsFaceAmount"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsFaceAmount" xml:lang="en-US" id="label_BorrowingsFaceAmount">Borrowings, Face amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFaceAmount" xlink:to="label_BorrowingsFaceAmount" xlink:title="label: BorrowingsFaceAmount to label_BorrowingsFaceAmount"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFaceAmount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsFaceAmount" xml:lang="en-US" id="label_BorrowingsFaceAmount_2">Borrowings Face Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFaceAmount" xlink:to="label_BorrowingsFaceAmount_2" xlink:title="label: BorrowingsFaceAmount to label_BorrowingsFaceAmount"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsFaceAmount_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsFaceAmount" xml:lang="en-US" id="label_BorrowingsFaceAmount_3">Face (par) amount of debt instrument at time of issuance.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsFaceAmount" xlink:to="label_BorrowingsFaceAmount_3" xlink:title="label: BorrowingsFaceAmount to label_BorrowingsFaceAmount"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MinimumLiquidAssets" xlink:label="MinimumLiquidAssets" xlink:title="MinimumLiquidAssets"/>
    <label xlink:type="resource" xlink:label="label_MinimumLiquidAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MinimumLiquidAssets" xml:lang="en-US" id="label_MinimumLiquidAssets">The minimum liquid assets that the company should own and maintain, as required by loan agreement covenants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLiquidAssets" xlink:to="label_MinimumLiquidAssets" xlink:title="label: MinimumLiquidAssets to label_MinimumLiquidAssets"/>
    <label xlink:type="resource" xlink:label="label_MinimumLiquidAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumLiquidAssets" xml:lang="en-US" id="label_MinimumLiquidAssets_2">Minimum Liquid Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLiquidAssets" xlink:to="label_MinimumLiquidAssets_2" xlink:title="label: MinimumLiquidAssets to label_MinimumLiquidAssets"/>
    <label xlink:type="resource" xlink:label="label_MinimumLiquidAssets_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumLiquidAssets" xml:lang="en-US" id="label_MinimumLiquidAssets_3">Liquidity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLiquidAssets" xlink:to="label_MinimumLiquidAssets_3" xlink:title="label: MinimumLiquidAssets to label_MinimumLiquidAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPayable" xlink:label="InterestPayable" xlink:title="InterestPayable"/>
    <label xlink:type="resource" xlink:label="label_InterestPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPayable" xml:lang="en-US" id="label_InterestPayable">Interest Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPayable" xlink:to="label_InterestPayable" xlink:title="label: InterestPayable to label_InterestPayable"/>
    <label xlink:type="resource" xlink:label="label_InterestPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestPayable" xml:lang="en-US" id="label_InterestPayable_2">Accrued interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPayable" xlink:to="label_InterestPayable_2" xlink:title="label: InterestPayable to label_InterestPayable"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ManagementDailyFee" xlink:label="ManagementDailyFee" xlink:title="ManagementDailyFee"/>
    <label xlink:type="resource" xlink:label="label_ManagementDailyFee" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ManagementDailyFee" xml:lang="en-US" id="label_ManagementDailyFee">The amount of daily income recognised for the provided management services.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagementDailyFee" xlink:to="label_ManagementDailyFee" xlink:title="label: ManagementDailyFee to label_ManagementDailyFee"/>
    <label xlink:type="resource" xlink:label="label_ManagementDailyFee_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ManagementDailyFee" xml:lang="en-US" id="label_ManagementDailyFee_2">Management Daily Fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagementDailyFee" xlink:to="label_ManagementDailyFee_2" xlink:title="label: ManagementDailyFee to label_ManagementDailyFee"/>
    <label xlink:type="resource" xlink:label="label_ManagementDailyFee_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ManagementDailyFee" xml:lang="en-US" id="label_ManagementDailyFee_3">Management daily fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagementDailyFee" xlink:to="label_ManagementDailyFee_3" xlink:title="label: ManagementDailyFee to label_ManagementDailyFee"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:label="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketAdjustedNetWorthToTotalAssetsRatio" xml:lang="en-US" id="label_MarketAdjustedNetWorthToTotalAssetsRatio">The ratio of the market adjusted net worth to total assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:to="label_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="label: MarketAdjustedNetWorthToTotalAssetsRatio to label_MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorthToTotalAssetsRatio_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketAdjustedNetWorthToTotalAssetsRatio" xml:lang="en-US" id="label_MarketAdjustedNetWorthToTotalAssetsRatio_2">Market Adjusted Net Worth To Total Assets Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:to="label_MarketAdjustedNetWorthToTotalAssetsRatio_2" xlink:title="label: MarketAdjustedNetWorthToTotalAssetsRatio to label_MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <label xlink:type="resource" xlink:label="label_MarketAdjustedNetWorthToTotalAssetsRatio_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketAdjustedNetWorthToTotalAssetsRatio" xml:lang="en-US" id="label_MarketAdjustedNetWorthToTotalAssetsRatio_3">Market adjusted net worth to total assets ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:to="label_MarketAdjustedNetWorthToTotalAssetsRatio_3" xlink:title="label: MarketAdjustedNetWorthToTotalAssetsRatio to label_MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensatingBalanceAmount" xml:lang="en-US" id="label_CompensatingBalanceAmount">The amount of a specific compensating balance arrangement that is maintained, under an agreement for a bank loan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmount" xlink:to="label_CompensatingBalanceAmount" xlink:title="label: CompensatingBalanceAmount to label_CompensatingBalanceAmount"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensatingBalanceAmount" xml:lang="en-US" id="label_CompensatingBalanceAmount_2">Compensating Balance Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmount" xlink:to="label_CompensatingBalanceAmount_2" xlink:title="label: CompensatingBalanceAmount to label_CompensatingBalanceAmount"/>
    <label xlink:type="resource" xlink:label="label_CompensatingBalanceAmount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensatingBalanceAmount" xml:lang="en-US" id="label_CompensatingBalanceAmount_3">Compensating Balance, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmount" xlink:to="label_CompensatingBalanceAmount_3" xlink:title="label: CompensatingBalanceAmount to label_CompensatingBalanceAmount"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountDeferredToTheBalloonPayment" xlink:label="AmountDeferredToTheBalloonPayment" xlink:title="AmountDeferredToTheBalloonPayment"/>
    <label xlink:type="resource" xlink:label="label_AmountDeferredToTheBalloonPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountDeferredToTheBalloonPayment" xml:lang="en-US" id="label_AmountDeferredToTheBalloonPayment">The amount deferred to the balloon payment after the amendment of the relevant loan agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountDeferredToTheBalloonPayment" xlink:to="label_AmountDeferredToTheBalloonPayment" xlink:title="label: AmountDeferredToTheBalloonPayment to label_AmountDeferredToTheBalloonPayment"/>
    <label xlink:type="resource" xlink:label="label_AmountDeferredToTheBalloonPayment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountDeferredToTheBalloonPayment" xml:lang="en-US" id="label_AmountDeferredToTheBalloonPayment_2">Amount Deferred To The Balloon Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountDeferredToTheBalloonPayment" xlink:to="label_AmountDeferredToTheBalloonPayment_2" xlink:title="label: AmountDeferredToTheBalloonPayment to label_AmountDeferredToTheBalloonPayment"/>
    <label xlink:type="resource" xlink:label="label_AmountDeferredToTheBalloonPayment_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountDeferredToTheBalloonPayment" xml:lang="en-US" id="label_AmountDeferredToTheBalloonPayment_3">Amount deferred to the balloon payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountDeferredToTheBalloonPayment" xlink:to="label_AmountDeferredToTheBalloonPayment_3" xlink:title="label: AmountDeferredToTheBalloonPayment to label_AmountDeferredToTheBalloonPayment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditSuisseAGLoanAgreementMember" xlink:label="CreditSuisseAGLoanAgreementMember" xlink:title="CreditSuisseAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_CreditSuisseAGLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditSuisseAGLoanAgreementMember" xml:lang="en-US" id="label_CreditSuisseAGLoanAgreementMember">Credit Suisse AG Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditSuisseAGLoanAgreementMember" xlink:to="label_CreditSuisseAGLoanAgreementMember" xlink:title="label: CreditSuisseAGLoanAgreementMember to label_CreditSuisseAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_CreditSuisseAGLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditSuisseAGLoanAgreementMember" xml:lang="en-US" id="label_CreditSuisseAGLoanAgreementMember_2">Credit Suisse AG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditSuisseAGLoanAgreementMember" xlink:to="label_CreditSuisseAGLoanAgreementMember_2" xlink:title="label: CreditSuisseAGLoanAgreementMember to label_CreditSuisseAGLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DVBBankLoanAgreementMember" xlink:label="DVBBankLoanAgreementMember" xlink:title="DVBBankLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_DVBBankLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DVBBankLoanAgreementMember" xml:lang="en-US" id="label_DVBBankLoanAgreementMember">DVB Bank Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DVBBankLoanAgreementMember" xlink:to="label_DVBBankLoanAgreementMember" xlink:title="label: DVBBankLoanAgreementMember to label_DVBBankLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_DVBBankLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DVBBankLoanAgreementMember" xml:lang="en-US" id="label_DVBBankLoanAgreementMember_2">DVB Bank SE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DVBBankLoanAgreementMember" xlink:to="label_DVBBankLoanAgreementMember_2" xlink:title="label: DVBBankLoanAgreementMember to label_DVBBankLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <label xlink:type="resource" xlink:label="label_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditFacilityAxis" xml:lang="en-US" id="label_CreditFacilityAxis">Credit Facility [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditFacilityAxis" xlink:to="label_CreditFacilityAxis" xlink:title="label: CreditFacilityAxis to label_CreditFacilityAxis"/>
    <label xlink:type="resource" xlink:label="label_CreditFacilityAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CreditFacilityAxis" xml:lang="en-US" id="label_CreditFacilityAxis_2">Information by type of credit facility. Credit facilities provide capital to borrowers without the need to structure a loan for each borrowing.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditFacilityAxis" xlink:to="label_CreditFacilityAxis_2" xlink:title="label: CreditFacilityAxis to label_CreditFacilityAxis"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <label xlink:type="resource" xlink:label="label_CreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditFacilityMember" xml:lang="en-US" id="label_CreditFacilityMember">Credit Facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditFacilityMember" xlink:to="label_CreditFacilityMember" xlink:title="label: CreditFacilityMember to label_CreditFacilityMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TrancheAMember" xml:lang="en-US" id="label_TrancheAMember">TrancheA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheAMember" xlink:to="label_TrancheAMember" xlink:title="label: TrancheAMember to label_TrancheAMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TrancheAMember" xml:lang="en-US" id="label_TrancheAMember_2">Tranche A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheAMember" xlink:to="label_TrancheAMember_2" xlink:title="label: TrancheAMember to label_TrancheAMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheAMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TrancheAMember" xml:lang="en-US" id="label_TrancheAMember_3">Tranche (A)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheAMember" xlink:to="label_TrancheAMember_3" xlink:title="label: TrancheAMember to label_TrancheAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TrancheBMember" xml:lang="en-US" id="label_TrancheBMember">Tranche B [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheBMember" xlink:to="label_TrancheBMember" xlink:title="label: TrancheBMember to label_TrancheBMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheBMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TrancheBMember" xml:lang="en-US" id="label_TrancheBMember_2">Tranche B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheBMember" xlink:to="label_TrancheBMember_2" xlink:title="label: TrancheBMember to label_TrancheBMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheBMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TrancheBMember" xml:lang="en-US" id="label_TrancheBMember_3">Tranche (B)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheBMember" xlink:to="label_TrancheBMember_3" xlink:title="label: TrancheBMember to label_TrancheBMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheCMember" xlink:label="TrancheCMember" xlink:title="TrancheCMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TrancheCMember" xml:lang="en-US" id="label_TrancheCMember">Tranche C [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheCMember" xlink:to="label_TrancheCMember" xlink:title="label: TrancheCMember to label_TrancheCMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheCMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TrancheCMember" xml:lang="en-US" id="label_TrancheCMember_2">Tranche C</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheCMember" xlink:to="label_TrancheCMember_2" xlink:title="label: TrancheCMember to label_TrancheCMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <label xlink:type="resource" xlink:label="label_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangeAxis" xml:lang="en-US" id="label_RangeAxis">Range [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeAxis" xlink:to="label_RangeAxis" xlink:title="label: RangeAxis to label_RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <label xlink:type="resource" xlink:label="label_RangesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangesMember" xml:lang="en-US" id="label_RangesMember">Ranges [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangesMember" xlink:to="label_RangesMember" xlink:title="label: RangesMember to label_RangesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:label="label_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BottomOfRangeMember" xml:lang="en-US" id="label_BottomOfRangeMember">Bottom Of Range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BottomOfRangeMember" xlink:to="label_BottomOfRangeMember" xlink:title="label: BottomOfRangeMember to label_BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:label="label_BottomOfRangeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BottomOfRangeMember" xml:lang="en-US" id="label_BottomOfRangeMember_2">Minimum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BottomOfRangeMember" xlink:to="label_BottomOfRangeMember_2" xlink:title="label: BottomOfRangeMember to label_BottomOfRangeMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_KeltyMarineLimitedMember" xlink:label="KeltyMarineLimitedMember" xlink:title="KeltyMarineLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_KeltyMarineLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeltyMarineLimitedMember" xml:lang="en-US" id="label_KeltyMarineLimitedMember">Kelty Marine Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeltyMarineLimitedMember" xlink:to="label_KeltyMarineLimitedMember" xlink:title="label: KeltyMarineLimitedMember to label_KeltyMarineLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_KeltyMarineLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeltyMarineLimitedMember" xml:lang="en-US" id="label_KeltyMarineLimitedMember_2">Kelty Marine Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeltyMarineLimitedMember" xlink:to="label_KeltyMarineLimitedMember_2" xlink:title="label: KeltyMarineLimitedMember to label_KeltyMarineLimitedMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselOwningSubsidiariesMember" xlink:label="VesselOwningSubsidiariesMember" xlink:title="VesselOwningSubsidiariesMember"/>
    <label xlink:type="resource" xlink:label="label_VesselOwningSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VesselOwningSubsidiariesMember" xml:lang="en-US" id="label_VesselOwningSubsidiariesMember">Vessel Owning Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselOwningSubsidiariesMember" xlink:to="label_VesselOwningSubsidiariesMember" xlink:title="label: VesselOwningSubsidiariesMember to label_VesselOwningSubsidiariesMember"/>
    <label xlink:type="resource" xlink:label="label_VesselOwningSubsidiariesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VesselOwningSubsidiariesMember" xml:lang="en-US" id="label_VesselOwningSubsidiariesMember_2">Vessel Owning Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VesselOwningSubsidiariesMember" xlink:to="label_VesselOwningSubsidiariesMember_2" xlink:title="label: VesselOwningSubsidiariesMember to label_VesselOwningSubsidiariesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <label xlink:type="resource" xlink:label="label_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageMember" xml:lang="en-US" id="label_WeightedAverageMember">Weighted average [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageMember" xlink:to="label_WeightedAverageMember" xlink:title="label: WeightedAverageMember to label_WeightedAverageMember"/>
    <label xlink:type="resource" xlink:label="label_WeightedAverageMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageMember" xml:lang="en-US" id="label_WeightedAverageMember_2">Weighted average</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageMember" xlink:to="label_WeightedAverageMember_2" xlink:title="label: WeightedAverageMember to label_WeightedAverageMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract">Disclosure of terms and conditions of share-based payment arrangement [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="label: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable">Disclosure of terms and conditions of share-based payment arrangement [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="label: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOrdinarySharesMember" xlink:label="NumberOfOrdinarySharesMember" xlink:title="NumberOfOrdinarySharesMember"/>
    <label xlink:type="resource" xlink:label="label_NumberOfOrdinarySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfOrdinarySharesMember" xml:lang="en-US" id="label_NumberOfOrdinarySharesMember">Number Of Ordinary Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOrdinarySharesMember" xlink:to="label_NumberOfOrdinarySharesMember" xlink:title="label: NumberOfOrdinarySharesMember to label_NumberOfOrdinarySharesMember"/>
    <label xlink:type="resource" xlink:label="label_NumberOfOrdinarySharesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfOrdinarySharesMember" xml:lang="en-US" id="label_NumberOfOrdinarySharesMember_2">Number of common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOrdinarySharesMember" xlink:to="label_NumberOfOrdinarySharesMember_2" xlink:title="label: NumberOfOrdinarySharesMember to label_NumberOfOrdinarySharesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">Disclosure of terms and conditions of share-based payment arrangement [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="label: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <label xlink:type="resource" xlink:label="label_ExpenseByNatureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseByNatureAbstract" xml:lang="en-US" id="label_ExpenseByNatureAbstract">Voyage Expenses and Vessel Operating Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseByNatureAbstract" xlink:to="label_ExpenseByNatureAbstract" xlink:title="label: ExpenseByNatureAbstract to label_ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionExpense" xlink:label="FeeAndCommissionExpense" xlink:title="FeeAndCommissionExpense"/>
    <label xlink:type="resource" xlink:label="label_FeeAndCommissionExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FeeAndCommissionExpense" xml:lang="en-US" id="label_FeeAndCommissionExpense">Fee and commission expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionExpense" xlink:to="label_FeeAndCommissionExpense" xlink:title="label: FeeAndCommissionExpense to label_FeeAndCommissionExpense"/>
    <label xlink:type="resource" xlink:label="label_FeeAndCommissionExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FeeAndCommissionExpense" xml:lang="en-US" id="label_FeeAndCommissionExpense_2">Commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionExpense" xlink:to="label_FeeAndCommissionExpense_2" xlink:title="label: FeeAndCommissionExpense to label_FeeAndCommissionExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FuelExpense" xlink:label="FuelExpense" xlink:title="FuelExpense"/>
    <label xlink:type="resource" xlink:label="label_FuelExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FuelExpense" xml:lang="en-US" id="label_FuelExpense">Fuel Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelExpense" xlink:to="label_FuelExpense" xlink:title="label: FuelExpense to label_FuelExpense"/>
    <label xlink:type="resource" xlink:label="label_FuelExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FuelExpense" xml:lang="en-US" id="label_FuelExpense_2">Bunkers expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelExpense" xlink:to="label_FuelExpense_2" xlink:title="label: FuelExpense to label_FuelExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherVoyageExpense" xlink:label="OtherVoyageExpense" xlink:title="OtherVoyageExpense"/>
    <label xlink:type="resource" xlink:label="label_OtherVoyageExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherVoyageExpense" xml:lang="en-US" id="label_OtherVoyageExpense">The amount of voyage expense classified as other.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherVoyageExpense" xlink:to="label_OtherVoyageExpense" xlink:title="label: OtherVoyageExpense to label_OtherVoyageExpense"/>
    <label xlink:type="resource" xlink:label="label_OtherVoyageExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherVoyageExpense" xml:lang="en-US" id="label_OtherVoyageExpense_2">Other Voyage Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherVoyageExpense" xlink:to="label_OtherVoyageExpense_2" xlink:title="label: OtherVoyageExpense to label_OtherVoyageExpense"/>
    <label xlink:type="resource" xlink:label="label_OtherVoyageExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherVoyageExpense" xml:lang="en-US" id="label_OtherVoyageExpense_3">Other voyage expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherVoyageExpense" xlink:to="label_OtherVoyageExpense_3" xlink:title="label: OtherVoyageExpense to label_OtherVoyageExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesExpense" xlink:label="ServicesExpense" xlink:title="ServicesExpense"/>
    <label xlink:type="resource" xlink:label="label_ServicesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServicesExpense" xml:lang="en-US" id="label_ServicesExpense">Service Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesExpense" xlink:to="label_ServicesExpense" xlink:title="label: ServicesExpense to label_ServicesExpense"/>
    <label xlink:type="resource" xlink:label="label_ServicesExpense_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ServicesExpense" xml:lang="en-US" id="label_ServicesExpense_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesExpense" xlink:to="label_ServicesExpense_2" xlink:title="label: ServicesExpense to label_ServicesExpense"/>
    <label xlink:type="resource" xlink:label="label_ServicesExpense_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ServicesExpense" xml:lang="en-US" id="label_ServicesExpense_3">Voyage expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesExpense" xlink:to="label_ServicesExpense_3" xlink:title="label: ServicesExpense to label_ServicesExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:label="ShorttermEmployeeBenefitsExpense" xlink:title="ShorttermEmployeeBenefitsExpense"/>
    <label xlink:type="resource" xlink:label="label_ShorttermEmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermEmployeeBenefitsExpense" xml:lang="en-US" id="label_ShorttermEmployeeBenefitsExpense">Short-term employee benefits expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermEmployeeBenefitsExpense" xlink:to="label_ShorttermEmployeeBenefitsExpense" xlink:title="label: ShorttermEmployeeBenefitsExpense to label_ShorttermEmployeeBenefitsExpense"/>
    <label xlink:type="resource" xlink:label="label_ShorttermEmployeeBenefitsExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermEmployeeBenefitsExpense" xml:lang="en-US" id="label_ShorttermEmployeeBenefitsExpense_2">Crew wages and related costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermEmployeeBenefitsExpense" xlink:to="label_ShorttermEmployeeBenefitsExpense_2" xlink:title="label: ShorttermEmployeeBenefitsExpense to label_ShorttermEmployeeBenefitsExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceExpense" xlink:label="InsuranceExpense" xlink:title="InsuranceExpense"/>
    <label xlink:type="resource" xlink:label="label_InsuranceExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InsuranceExpense" xml:lang="en-US" id="label_InsuranceExpense">Insurance Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceExpense" xlink:to="label_InsuranceExpense" xlink:title="label: InsuranceExpense to label_InsuranceExpense"/>
    <label xlink:type="resource" xlink:label="label_InsuranceExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InsuranceExpense" xml:lang="en-US" id="label_InsuranceExpense_2">Insurance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceExpense" xlink:to="label_InsuranceExpense_2" xlink:title="label: InsuranceExpense to label_InsuranceExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepairsAndMaintenanceExpense" xlink:label="RepairsAndMaintenanceExpense" xlink:title="RepairsAndMaintenanceExpense"/>
    <label xlink:type="resource" xlink:label="label_RepairsAndMaintenanceExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepairsAndMaintenanceExpense" xml:lang="en-US" id="label_RepairsAndMaintenanceExpense">Repairs And Maintenance Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepairsAndMaintenanceExpense" xlink:to="label_RepairsAndMaintenanceExpense" xlink:title="label: RepairsAndMaintenanceExpense to label_RepairsAndMaintenanceExpense"/>
    <label xlink:type="resource" xlink:label="label_RepairsAndMaintenanceExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepairsAndMaintenanceExpense" xml:lang="en-US" id="label_RepairsAndMaintenanceExpense_2">Spares, repairs and maintenance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepairsAndMaintenanceExpense" xlink:to="label_RepairsAndMaintenanceExpense_2" xlink:title="label: RepairsAndMaintenanceExpense to label_RepairsAndMaintenanceExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="RawMaterialsAndConsumablesUsed" xlink:title="RawMaterialsAndConsumablesUsed"/>
    <label xlink:type="resource" xlink:label="label_RawMaterialsAndConsumablesUsed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RawMaterialsAndConsumablesUsed" xml:lang="en-US" id="label_RawMaterialsAndConsumablesUsed">Raw materials and consumables used</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterialsAndConsumablesUsed" xlink:to="label_RawMaterialsAndConsumablesUsed" xlink:title="label: RawMaterialsAndConsumablesUsed to label_RawMaterialsAndConsumablesUsed"/>
    <label xlink:type="resource" xlink:label="label_RawMaterialsAndConsumablesUsed_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RawMaterialsAndConsumablesUsed" xml:lang="en-US" id="label_RawMaterialsAndConsumablesUsed_2">Lubricants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterialsAndConsumablesUsed" xlink:to="label_RawMaterialsAndConsumablesUsed_2" xlink:title="label: RawMaterialsAndConsumablesUsed to label_RawMaterialsAndConsumablesUsed"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StoresExpense" xlink:label="StoresExpense" xlink:title="StoresExpense"/>
    <label xlink:type="resource" xlink:label="label_StoresExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StoresExpense" xml:lang="en-US" id="label_StoresExpense">Stores Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StoresExpense" xlink:to="label_StoresExpense" xlink:title="label: StoresExpense to label_StoresExpense"/>
    <label xlink:type="resource" xlink:label="label_StoresExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StoresExpense" xml:lang="en-US" id="label_StoresExpense_2">Stores</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StoresExpense" xlink:to="label_StoresExpense_2" xlink:title="label: StoresExpense to label_StoresExpense"/>
    <label xlink:type="resource" xlink:label="label_StoresExpense_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StoresExpense" xml:lang="en-US" id="label_StoresExpense_3">The amount of stores expense.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StoresExpense" xlink:to="label_StoresExpense_3" xlink:title="label: StoresExpense to label_StoresExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="MiscellaneousOtherOperatingExpense" xlink:title="MiscellaneousOtherOperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MiscellaneousOtherOperatingExpense" xml:lang="en-US" id="label_MiscellaneousOtherOperatingExpense">Miscellaneous other operating expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousOtherOperatingExpense" xlink:to="label_MiscellaneousOtherOperatingExpense" xlink:title="label: MiscellaneousOtherOperatingExpense to label_MiscellaneousOtherOperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_MiscellaneousOtherOperatingExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MiscellaneousOtherOperatingExpense" xml:lang="en-US" id="label_MiscellaneousOtherOperatingExpense_2">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousOtherOperatingExpense" xlink:to="label_MiscellaneousOtherOperatingExpense_2" xlink:title="label: MiscellaneousOtherOperatingExpense to label_MiscellaneousOtherOperatingExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract" xlink:label="SellingGeneralAndAdministrativeExpenseAbstract" xlink:title="SellingGeneralAndAdministrativeExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="label_SellingGeneralAndAdministrativeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SellingGeneralAndAdministrativeExpenseAbstract" xml:lang="en-US" id="label_SellingGeneralAndAdministrativeExpenseAbstract">Administrative Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="label_SellingGeneralAndAdministrativeExpenseAbstract" xlink:title="label: SellingGeneralAndAdministrativeExpenseAbstract to label_SellingGeneralAndAdministrativeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PersonnelExpense" xlink:label="PersonnelExpense" xlink:title="PersonnelExpense"/>
    <label xlink:type="resource" xlink:label="label_PersonnelExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PersonnelExpense" xml:lang="en-US" id="label_PersonnelExpense">The amount of compensation to administrative personnel.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PersonnelExpense" xlink:to="label_PersonnelExpense" xlink:title="label: PersonnelExpense to label_PersonnelExpense"/>
    <label xlink:type="resource" xlink:label="label_PersonnelExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PersonnelExpense" xml:lang="en-US" id="label_PersonnelExpense_2">Personnel Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PersonnelExpense" xlink:to="label_PersonnelExpense_2" xlink:title="label: PersonnelExpense to label_PersonnelExpense"/>
    <label xlink:type="resource" xlink:label="label_PersonnelExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PersonnelExpense" xml:lang="en-US" id="label_PersonnelExpense_3">Personnel expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PersonnelExpense" xlink:to="label_PersonnelExpense_3" xlink:title="label: PersonnelExpense to label_PersonnelExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AuditorsRemuneration" xlink:label="AuditorsRemuneration" xlink:title="AuditorsRemuneration"/>
    <label xlink:type="resource" xlink:label="label_AuditorsRemuneration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AuditorsRemuneration" xml:lang="en-US" id="label_AuditorsRemuneration">Auditors Remuneration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AuditorsRemuneration" xlink:to="label_AuditorsRemuneration" xlink:title="label: AuditorsRemuneration to label_AuditorsRemuneration"/>
    <label xlink:type="resource" xlink:label="label_AuditorsRemuneration_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AuditorsRemuneration" xml:lang="en-US" id="label_AuditorsRemuneration_2">Audit fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AuditorsRemuneration" xlink:to="label_AuditorsRemuneration_2" xlink:title="label: AuditorsRemuneration to label_AuditorsRemuneration"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TravelExpense" xlink:label="TravelExpense" xlink:title="TravelExpense"/>
    <label xlink:type="resource" xlink:label="label_TravelExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TravelExpense" xml:lang="en-US" id="label_TravelExpense">Travel Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TravelExpense" xlink:to="label_TravelExpense" xlink:title="label: TravelExpense to label_TravelExpense"/>
    <label xlink:type="resource" xlink:label="label_TravelExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TravelExpense" xml:lang="en-US" id="label_TravelExpense_2">Travelling expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TravelExpense" xlink:to="label_TravelExpense_2" xlink:title="label: TravelExpense to label_TravelExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CommunicationExpense" xlink:label="CommunicationExpense" xlink:title="CommunicationExpense"/>
    <label xlink:type="resource" xlink:label="label_CommunicationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommunicationExpense" xml:lang="en-US" id="label_CommunicationExpense">Communication Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommunicationExpense" xlink:to="label_CommunicationExpense" xlink:title="label: CommunicationExpense to label_CommunicationExpense"/>
    <label xlink:type="resource" xlink:label="label_CommunicationExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommunicationExpense" xml:lang="en-US" id="label_CommunicationExpense_2">Communication</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommunicationExpense" xlink:to="label_CommunicationExpense_2" xlink:title="label: CommunicationExpense to label_CommunicationExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StationeryExpense" xlink:label="StationeryExpense" xlink:title="StationeryExpense"/>
    <label xlink:type="resource" xlink:label="label_StationeryExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StationeryExpense" xml:lang="en-US" id="label_StationeryExpense">The amount of expense for writing and other office materials.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StationeryExpense" xlink:to="label_StationeryExpense" xlink:title="label: StationeryExpense to label_StationeryExpense"/>
    <label xlink:type="resource" xlink:label="label_StationeryExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StationeryExpense" xml:lang="en-US" id="label_StationeryExpense_2">Stationery Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StationeryExpense" xlink:to="label_StationeryExpense_2" xlink:title="label: StationeryExpense to label_StationeryExpense"/>
    <label xlink:type="resource" xlink:label="label_StationeryExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StationeryExpense" xml:lang="en-US" id="label_StationeryExpense_3">Stationery</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StationeryExpense" xlink:to="label_StationeryExpense_3" xlink:title="label: StationeryExpense to label_StationeryExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="TaxExpenseOtherThanIncomeTaxExpense"/>
    <label xlink:type="resource" xlink:label="label_TaxExpenseOtherThanIncomeTaxExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxExpenseOtherThanIncomeTaxExpense" xml:lang="en-US" id="label_TaxExpenseOtherThanIncomeTaxExpense">Tax Expense Other Than Income Tax Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseOtherThanIncomeTaxExpense" xlink:to="label_TaxExpenseOtherThanIncomeTaxExpense" xlink:title="label: TaxExpenseOtherThanIncomeTaxExpense to label_TaxExpenseOtherThanIncomeTaxExpense"/>
    <label xlink:type="resource" xlink:label="label_TaxExpenseOtherThanIncomeTaxExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxExpenseOtherThanIncomeTaxExpense" xml:lang="en-US" id="label_TaxExpenseOtherThanIncomeTaxExpense_2">Greek authorities tax (note 20)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseOtherThanIncomeTaxExpense" xlink:to="label_TaxExpenseOtherThanIncomeTaxExpense_2" xlink:title="label: TaxExpenseOtherThanIncomeTaxExpense to label_TaxExpenseOtherThanIncomeTaxExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="OtherExpenseByNature" xlink:title="OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:label="label_OtherExpenseByNature" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherExpenseByNature" xml:lang="en-US" id="label_OtherExpenseByNature">Other Expense By Nature</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseByNature" xlink:to="label_OtherExpenseByNature" xlink:title="label: OtherExpenseByNature to label_OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:label="label_OtherExpenseByNature_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherExpenseByNature" xml:lang="en-US" id="label_OtherExpenseByNature_2">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseByNature" xlink:to="label_OtherExpenseByNature_2" xlink:title="label: OtherExpenseByNature to label_OtherExpenseByNature"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestCostsAbstract" xlink:label="InterestCostsAbstract" xlink:title="InterestCostsAbstract"/>
    <label xlink:type="resource" xlink:label="label_InterestCostsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestCostsAbstract" xml:lang="en-US" id="label_InterestCostsAbstract">Interest Expense and Finance Costs [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestCostsAbstract" xlink:to="label_InterestCostsAbstract" xlink:title="label: InterestCostsAbstract to label_InterestCostsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BankAndSimilarCharges" xlink:label="BankAndSimilarCharges" xlink:title="BankAndSimilarCharges"/>
    <label xlink:type="resource" xlink:label="label_BankAndSimilarCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankAndSimilarCharges" xml:lang="en-US" id="label_BankAndSimilarCharges">Bank And Similar Charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankAndSimilarCharges" xlink:to="label_BankAndSimilarCharges" xlink:title="label: BankAndSimilarCharges to label_BankAndSimilarCharges"/>
    <label xlink:type="resource" xlink:label="label_BankAndSimilarCharges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankAndSimilarCharges" xml:lang="en-US" id="label_BankAndSimilarCharges_2">Bank charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankAndSimilarCharges" xlink:to="label_BankAndSimilarCharges_2" xlink:title="label: BankAndSimilarCharges to label_BankAndSimilarCharges"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmortizationOfDebtDiscount" xlink:label="AmortizationOfDebtDiscount" xlink:title="AmortizationOfDebtDiscount"/>
    <label xlink:type="resource" xlink:label="label_AmortizationOfDebtDiscount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortizationOfDebtDiscount" xml:lang="en-US" id="label_AmortizationOfDebtDiscount">Amortization Of Debt Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfDebtDiscount" xlink:to="label_AmortizationOfDebtDiscount" xlink:title="label: AmortizationOfDebtDiscount to label_AmortizationOfDebtDiscount"/>
    <label xlink:type="resource" xlink:label="label_AmortizationOfDebtDiscount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmortizationOfDebtDiscount" xml:lang="en-US" id="label_AmortizationOfDebtDiscount_2">Amortization of debt discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfDebtDiscount" xlink:to="label_AmortizationOfDebtDiscount_2" xlink:title="label: AmortizationOfDebtDiscount to label_AmortizationOfDebtDiscount"/>
    <label xlink:type="resource" xlink:label="label_AmortizationOfDebtDiscount_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmortizationOfDebtDiscount" xml:lang="en-US" id="label_AmortizationOfDebtDiscount_3">Amount of noncash expense included in finance costs to amortize debt discount associated with the related debt instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfDebtDiscount" xlink:to="label_AmortizationOfDebtDiscount_3" xlink:title="label: AmortizationOfDebtDiscount to label_AmortizationOfDebtDiscount"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinanceCost" xlink:label="OtherFinanceCost" xlink:title="OtherFinanceCost"/>
    <label xlink:type="resource" xlink:label="label_OtherFinanceCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinanceCost" xml:lang="en-US" id="label_OtherFinanceCost">Other finance expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinanceCost" xlink:to="label_OtherFinanceCost" xlink:title="label: OtherFinanceCost to label_OtherFinanceCost"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsAxis" xlink:label="DividendsAxis" xlink:title="DividendsAxis"/>
    <label xlink:type="resource" xlink:label="label_DividendsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsAxis" xml:lang="en-US" id="label_DividendsAxis">Dividends [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsAxis" xlink:to="label_DividendsAxis" xlink:title="label: DividendsAxis to label_DividendsAxis"/>
    <label xlink:type="resource" xlink:label="label_DividendsAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsAxis" xml:lang="en-US" id="label_DividendsAxis_2">Information about distribution of earnings to shareholders including, but not limited to, cash, property or capital stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsAxis" xlink:to="label_DividendsAxis_2" xlink:title="label: DividendsAxis to label_DividendsAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousLiabilitiesAbstract" xlink:label="MiscellaneousLiabilitiesAbstract" xlink:title="MiscellaneousLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_MiscellaneousLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MiscellaneousLiabilitiesAbstract" xml:lang="en-US" id="label_MiscellaneousLiabilitiesAbstract">Dividends [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousLiabilitiesAbstract" xlink:to="label_MiscellaneousLiabilitiesAbstract" xlink:title="label: MiscellaneousLiabilitiesAbstract to label_MiscellaneousLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableTable" xlink:label="DividendsPayableTable" xlink:title="DividendsPayableTable"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableTable" xml:lang="en-US" id="label_DividendsPayableTable">Dividends Payable [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableTable" xlink:to="label_DividendsPayableTable" xlink:title="label: DividendsPayableTable to label_DividendsPayableTable"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPayableTable" xml:lang="en-US" id="label_DividendsPayableTable_2">A table that contains information regarding dividends that have been declared but not paid as of the financial reporting date. This information may contain the amount, amount per share, declared date, and date to be paid.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableTable" xlink:to="label_DividendsPayableTable_2" xlink:title="label: DividendsPayableTable to label_DividendsPayableTable"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsMember" xlink:label="DividendsMember" xlink:title="DividendsMember"/>
    <label xlink:type="resource" xlink:label="label_DividendsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsMember" xml:lang="en-US" id="label_DividendsMember">Dividends [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsMember" xlink:to="label_DividendsMember" xlink:title="label: DividendsMember to label_DividendsMember"/>
    <label xlink:type="resource" xlink:label="label_DividendsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsMember" xml:lang="en-US" id="label_DividendsMember_2">Distributions of earnings to shareholders including but not limited to cash, property or capital stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsMember" xlink:to="label_DividendsMember_2" xlink:title="label: DividendsMember to label_DividendsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirstPreferredDividendMember" xlink:label="FirstPreferredDividendMember" xlink:title="FirstPreferredDividendMember"/>
    <label xlink:type="resource" xlink:label="label_FirstPreferredDividendMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirstPreferredDividendMember" xml:lang="en-US" id="label_FirstPreferredDividendMember">First Preferred Dividend [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstPreferredDividendMember" xlink:to="label_FirstPreferredDividendMember" xlink:title="label: FirstPreferredDividendMember to label_FirstPreferredDividendMember"/>
    <label xlink:type="resource" xlink:label="label_FirstPreferredDividendMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirstPreferredDividendMember" xml:lang="en-US" id="label_FirstPreferredDividendMember_2">1st Preferred dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstPreferredDividendMember" xlink:to="label_FirstPreferredDividendMember_2" xlink:title="label: FirstPreferredDividendMember to label_FirstPreferredDividendMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SecondPreferredDividendMember" xlink:label="SecondPreferredDividendMember" xlink:title="SecondPreferredDividendMember"/>
    <label xlink:type="resource" xlink:label="label_SecondPreferredDividendMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecondPreferredDividendMember" xml:lang="en-US" id="label_SecondPreferredDividendMember">Second Preferred Dividend [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondPreferredDividendMember" xlink:to="label_SecondPreferredDividendMember" xlink:title="label: SecondPreferredDividendMember to label_SecondPreferredDividendMember"/>
    <label xlink:type="resource" xlink:label="label_SecondPreferredDividendMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecondPreferredDividendMember" xml:lang="en-US" id="label_SecondPreferredDividendMember_2">2nd Preferred dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondPreferredDividendMember" xlink:to="label_SecondPreferredDividendMember_2" xlink:title="label: SecondPreferredDividendMember to label_SecondPreferredDividendMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableLineItems" xlink:label="DividendsPayableLineItems" xlink:title="DividendsPayableLineItems"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableLineItems" xml:lang="en-US" id="label_DividendsPayableLineItems">Dividends Payable [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableLineItems" xlink:to="label_DividendsPayableLineItems" xlink:title="label: DividendsPayableLineItems to label_DividendsPayableLineItems"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPayableLineItems" xml:lang="en-US" id="label_DividendsPayableLineItems_2">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableLineItems" xlink:to="label_DividendsPayableLineItems_2" xlink:title="label: DividendsPayableLineItems to label_DividendsPayableLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidOtherSharesPerShare" xlink:label="DividendsPaidOtherSharesPerShare" xlink:title="DividendsPaidOtherSharesPerShare"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidOtherSharesPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidOtherSharesPerShare" xml:lang="en-US" id="label_DividendsPaidOtherSharesPerShare">Dividends paid, other shares per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOtherSharesPerShare" xlink:to="label_DividendsPaidOtherSharesPerShare" xlink:title="label: DividendsPaidOtherSharesPerShare to label_DividendsPaidOtherSharesPerShare"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidOtherSharesPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPaidOtherSharesPerShare" xml:lang="en-US" id="label_DividendsPaidOtherSharesPerShare_2">Dividends paid, preferred shares per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOtherSharesPerShare" xlink:to="label_DividendsPaidOtherSharesPerShare_2" xlink:title="label: DividendsPaidOtherSharesPerShare to label_DividendsPaidOtherSharesPerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidOtherShares" xlink:label="DividendsPaidOtherShares" xlink:title="DividendsPaidOtherShares"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidOtherShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidOtherShares" xml:lang="en-US" id="label_DividendsPaidOtherShares">Dividends paid, other shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOtherShares" xlink:to="label_DividendsPaidOtherShares" xlink:title="label: DividendsPaidOtherShares to label_DividendsPaidOtherShares"/>
    <label xlink:type="resource" xlink:label="label_DividendsPaidOtherShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPaidOtherShares" xml:lang="en-US" id="label_DividendsPaidOtherShares_2">Dividends paid, preferred shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOtherShares" xlink:to="label_DividendsPaidOtherShares_2" xlink:title="label: DividendsPaidOtherShares to label_DividendsPaidOtherShares"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableDateDeclaredDayMonthAndYear" xlink:label="DividendsPayableDateDeclaredDayMonthAndYear" xlink:title="DividendsPayableDateDeclaredDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableDateDeclaredDayMonthAndYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableDateDeclaredDayMonthAndYear" xml:lang="en-US" id="label_DividendsPayableDateDeclaredDayMonthAndYear">Dividends Payable Date Declared Day Month And Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableDateDeclaredDayMonthAndYear" xlink:to="label_DividendsPayableDateDeclaredDayMonthAndYear" xlink:title="label: DividendsPayableDateDeclaredDayMonthAndYear to label_DividendsPayableDateDeclaredDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableDateDeclaredDayMonthAndYear_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPayableDateDeclaredDayMonthAndYear" xml:lang="en-US" id="label_DividendsPayableDateDeclaredDayMonthAndYear_2">Dividends Payable, Date Declared</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableDateDeclaredDayMonthAndYear" xlink:to="label_DividendsPayableDateDeclaredDayMonthAndYear_2" xlink:title="label: DividendsPayableDateDeclaredDayMonthAndYear to label_DividendsPayableDateDeclaredDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendsPayableDateDeclaredDayMonthAndYear_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPayableDateDeclaredDayMonthAndYear" xml:lang="en-US" id="label_DividendsPayableDateDeclaredDayMonthAndYear_3">Date the dividend to be paid was declared, in CCYY-MM-DD format.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableDateDeclaredDayMonthAndYear" xlink:to="label_DividendsPayableDateDeclaredDayMonthAndYear_3" xlink:title="label: DividendsPayableDateDeclaredDayMonthAndYear to label_DividendsPayableDateDeclaredDayMonthAndYear"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendPayableDateToBePaidDayMonthAndYear" xlink:label="DividendPayableDateToBePaidDayMonthAndYear" xlink:title="DividendPayableDateToBePaidDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendPayableDateToBePaidDayMonthAndYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendPayableDateToBePaidDayMonthAndYear" xml:lang="en-US" id="label_DividendPayableDateToBePaidDayMonthAndYear">Date the declared dividend will be paid, in CCYY-MM-DD format.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayableDateToBePaidDayMonthAndYear" xlink:to="label_DividendPayableDateToBePaidDayMonthAndYear" xlink:title="label: DividendPayableDateToBePaidDayMonthAndYear to label_DividendPayableDateToBePaidDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendPayableDateToBePaidDayMonthAndYear_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendPayableDateToBePaidDayMonthAndYear" xml:lang="en-US" id="label_DividendPayableDateToBePaidDayMonthAndYear_2">Dividend Payable Date To Be Paid Day Month And Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayableDateToBePaidDayMonthAndYear" xlink:to="label_DividendPayableDateToBePaidDayMonthAndYear_2" xlink:title="label: DividendPayableDateToBePaidDayMonthAndYear to label_DividendPayableDateToBePaidDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="label_DividendPayableDateToBePaidDayMonthAndYear_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendPayableDateToBePaidDayMonthAndYear" xml:lang="en-US" id="label_DividendPayableDateToBePaidDayMonthAndYear_3">Dividends Payable, Date to be Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayableDateToBePaidDayMonthAndYear" xlink:to="label_DividendPayableDateToBePaidDayMonthAndYear_3" xlink:title="label: DividendPayableDateToBePaidDayMonthAndYear to label_DividendPayableDateToBePaidDayMonthAndYear"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract">Commitments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable">Disclosure of finance lease and operating lease by lessor [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems">Disclosure of finance lease and operating lease by lessor [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease"/>
    <label xlink:type="resource" xlink:label="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xml:lang="en-US" id="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease">Minimum lease payments receivable under non-cancellable operating lease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:to="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="label: MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease to label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease"/>
    <label xlink:type="resource" xlink:label="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xml:lang="en-US" id="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:to="label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease_2" xlink:title="label: MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease to label_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract">Disclosure of finance lease and operating lease by lessee [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable">Disclosure of finance lease and operating lease by lessee [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanFiveYearsMember">Later than one year and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="label: LaterThanOneYearAndNotLaterThanFiveYearsMember to label_LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_2">After one year but not more than five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_2" xlink:title="label: LaterThanOneYearAndNotLaterThanFiveYearsMember to label_LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_3">1 to 5 years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_3" xlink:title="label: LaterThanOneYearAndNotLaterThanFiveYearsMember to label_LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xml:lang="en-US" id="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems">Disclosure of finance lease and operating lease by lessee [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:to="label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:title="label: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems to label_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <label xlink:type="resource" xlink:label="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xml:lang="en-US" id="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease">Minimum lease payments payable under non-cancellable operating lease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:to="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="label: MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease to label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <label xlink:type="resource" xlink:label="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xml:lang="en-US" id="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:to="label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_2" xlink:title="label: MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease to label_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="AverageForeignExchangeRate" xlink:title="AverageForeignExchangeRate"/>
    <label xlink:type="resource" xlink:label="label_AverageForeignExchangeRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AverageForeignExchangeRate" xml:lang="en-US" id="label_AverageForeignExchangeRate">Average foreign exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AverageForeignExchangeRate" xlink:to="label_AverageForeignExchangeRate" xlink:title="label: AverageForeignExchangeRate to label_AverageForeignExchangeRate"/>
    <label xlink:type="resource" xlink:label="label_AverageForeignExchangeRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AverageForeignExchangeRate" xml:lang="en-US" id="label_AverageForeignExchangeRate_2">Euro: US dollar exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AverageForeignExchangeRate" xlink:to="label_AverageForeignExchangeRate_2" xlink:title="label: AverageForeignExchangeRate to label_AverageForeignExchangeRate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="label_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorComponentsOfTaxExpenseIncomeAbstract" xml:lang="en-US" id="label_MajorComponentsOfTaxExpenseIncomeAbstract">Income Tax [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="label_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="label: MajorComponentsOfTaxExpenseIncomeAbstract to label_MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferredDryDockingCostsMember" xlink:label="DeferredDryDockingCostsMember" xlink:title="DeferredDryDockingCostsMember"/>
    <label xlink:type="resource" xlink:label="label_DeferredDryDockingCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredDryDockingCostsMember" xml:lang="en-US" id="label_DeferredDryDockingCostsMember">Deferred Dry Docking Costs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredDryDockingCostsMember" xlink:to="label_DeferredDryDockingCostsMember" xlink:title="label: DeferredDryDockingCostsMember to label_DeferredDryDockingCostsMember"/>
    <label xlink:type="resource" xlink:label="label_DeferredDryDockingCostsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredDryDockingCostsMember" xml:lang="en-US" id="label_DeferredDryDockingCostsMember_2">Deferred dry docking costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredDryDockingCostsMember" xlink:to="label_DeferredDryDockingCostsMember_2" xlink:title="label: DeferredDryDockingCostsMember to label_DeferredDryDockingCostsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CreationDateAxis" xlink:label="CreationDateAxis" xlink:title="CreationDateAxis"/>
    <label xlink:type="resource" xlink:label="label_CreationDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreationDateAxis" xml:lang="en-US" id="label_CreationDateAxis">Creation Date [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreationDateAxis" xlink:to="label_CreationDateAxis" xlink:title="label: CreationDateAxis to label_CreationDateAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="DefaultFinancialStatementsDateMember" xlink:title="DefaultFinancialStatementsDateMember"/>
    <label xlink:type="resource" xlink:label="label_DefaultFinancialStatementsDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefaultFinancialStatementsDateMember" xml:lang="en-US" id="label_DefaultFinancialStatementsDateMember">Default Financial Statements Date [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefaultFinancialStatementsDateMember" xlink:to="label_DefaultFinancialStatementsDateMember" xlink:title="label: DefaultFinancialStatementsDateMember to label_DefaultFinancialStatementsDateMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_JanuaryToJune2018Member" xlink:label="JanuaryToJune2018Member" xlink:title="JanuaryToJune2018Member"/>
    <label xlink:type="resource" xlink:label="label_JanuaryToJune2018Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JanuaryToJune2018Member" xml:lang="en-US" id="label_JanuaryToJune2018Member">January To June 2018 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanuaryToJune2018Member" xlink:to="label_JanuaryToJune2018Member" xlink:title="label: JanuaryToJune2018Member to label_JanuaryToJune2018Member"/>
    <label xlink:type="resource" xlink:label="label_JanuaryToJune2018Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JanuaryToJune2018Member" xml:lang="en-US" id="label_JanuaryToJune2018Member_2">From January 1, 2018 to June 30, 2018</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanuaryToJune2018Member" xlink:to="label_JanuaryToJune2018Member_2" xlink:title="label: JanuaryToJune2018Member to label_JanuaryToJune2018Member"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AfterJune2018Member" xlink:label="AfterJune2018Member" xlink:title="AfterJune2018Member"/>
    <label xlink:type="resource" xlink:label="label_AfterJune2018Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AfterJune2018Member" xml:lang="en-US" id="label_AfterJune2018Member">After June 2018 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterJune2018Member" xlink:to="label_AfterJune2018Member" xlink:title="label: AfterJune2018Member to label_AfterJune2018Member"/>
    <label xlink:type="resource" xlink:label="label_AfterJune2018Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AfterJune2018Member" xml:lang="en-US" id="label_AfterJune2018Member_2">After June 30, 2018</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterJune2018Member" xlink:to="label_AfterJune2018Member_2" xlink:title="label: AfterJune2018Member to label_AfterJune2018Member"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ActualAmountMember" xlink:label="ActualAmountMember" xlink:title="ActualAmountMember"/>
    <label xlink:type="resource" xlink:label="label_ActualAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActualAmountMember" xml:lang="en-US" id="label_ActualAmountMember">Actual Amount [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActualAmountMember" xlink:to="label_ActualAmountMember" xlink:title="label: ActualAmountMember to label_ActualAmountMember"/>
    <label xlink:type="resource" xlink:label="label_ActualAmountMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActualAmountMember" xml:lang="en-US" id="label_ActualAmountMember_2">Actual Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActualAmountMember" xlink:to="label_ActualAmountMember_2" xlink:title="label: ActualAmountMember to label_ActualAmountMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialInstrumentsAbstract" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsAbstract">Financial risk management objectives and policies [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="label_DisclosureOfFinancialInstrumentsAbstract" xlink:title="label: DisclosureOfFinancialInstrumentsAbstract to label_DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xml:lang="en-US" id="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable">Disclosure of risk management strategy related to hedge accounting [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="label: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <label xlink:type="resource" xlink:label="label_TypesOfRisksAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfRisksAxis" xml:lang="en-US" id="label_TypesOfRisksAxis">Types of risks [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksAxis" xlink:to="label_TypesOfRisksAxis" xlink:title="label: TypesOfRisksAxis to label_TypesOfRisksAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <label xlink:type="resource" xlink:label="label_TypesOfRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfRisksMember" xml:lang="en-US" id="label_TypesOfRisksMember">Risks [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksMember" xlink:to="label_TypesOfRisksMember" xlink:title="label: TypesOfRisksMember to label_TypesOfRisksMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="InterestRateRiskMember" xlink:title="InterestRateRiskMember"/>
    <label xlink:type="resource" xlink:label="label_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateRiskMember" xml:lang="en-US" id="label_InterestRateRiskMember">Interest rate risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRiskMember" xlink:to="label_InterestRateRiskMember" xlink:title="label: InterestRateRiskMember to label_InterestRateRiskMember"/>
    <label xlink:type="resource" xlink:label="label_InterestRateRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestRateRiskMember" xml:lang="en-US" id="label_InterestRateRiskMember_2">Interest rate risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRiskMember" xlink:to="label_InterestRateRiskMember_2" xlink:title="label: InterestRateRiskMember to label_InterestRateRiskMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xml:lang="en-US" id="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems">Disclosure of risk management strategy related to hedge accounting [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="label: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to label_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInInterestRates" xlink:label="IncreaseInInterestRates" xlink:title="IncreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInInterestRates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseInInterestRates" xml:lang="en-US" id="label_IncreaseInInterestRates">Increase in market interest rates expressed in basis points. One basis point is equivalent to one hundredth of a percent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInInterestRates" xlink:to="label_IncreaseInInterestRates" xlink:title="label: IncreaseInInterestRates to label_IncreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInInterestRates_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseInInterestRates" xml:lang="en-US" id="label_IncreaseInInterestRates_2">Increase In Interest Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInInterestRates" xlink:to="label_IncreaseInInterestRates_2" xlink:title="label: IncreaseInInterestRates to label_IncreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInInterestRates_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseInInterestRates" xml:lang="en-US" id="label_IncreaseInInterestRates_3">Increase in Libor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInInterestRates" xlink:to="label_IncreaseInInterestRates_3" xlink:title="label: IncreaseInInterestRates to label_IncreaseInInterestRates"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInInterestRates" xlink:label="DecreaseInInterestRates" xlink:title="DecreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInInterestRates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DecreaseInInterestRates" xml:lang="en-US" id="label_DecreaseInInterestRates">Decrease in market interest rates expressed in basis points. One basis point is equivalent to one hundredth of a percent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInInterestRates" xlink:to="label_DecreaseInInterestRates" xlink:title="label: DecreaseInInterestRates to label_DecreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInInterestRates_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DecreaseInInterestRates" xml:lang="en-US" id="label_DecreaseInInterestRates_2">Decrease In Interest Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInInterestRates" xlink:to="label_DecreaseInInterestRates_2" xlink:title="label: DecreaseInInterestRates to label_DecreaseInInterestRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInInterestRates_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DecreaseInInterestRates" xml:lang="en-US" id="label_DecreaseInInterestRates_3">Decrease in Libor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInInterestRates" xlink:to="label_DecreaseInInterestRates_3" xlink:title="label: DecreaseInInterestRates to label_DecreaseInInterestRates"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit">Sensitivity Analysis For Each Type Of Market Risk Positive Effect On Profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_2">Effect on loss (Decrease in Libor)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_2" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_3">Amount of the positive effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit_3" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit">Effect on loss (Decrease in Euro exchange rate)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencyRiskMember" xlink:label="CurrencyRiskMember" xlink:title="CurrencyRiskMember"/>
    <label xlink:type="resource" xlink:label="label_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrencyRiskMember" xml:lang="en-US" id="label_CurrencyRiskMember">Currency risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyRiskMember" xlink:to="label_CurrencyRiskMember" xlink:title="label: CurrencyRiskMember to label_CurrencyRiskMember"/>
    <label xlink:type="resource" xlink:label="label_CurrencyRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrencyRiskMember" xml:lang="en-US" id="label_CurrencyRiskMember_2">Currency risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyRiskMember" xlink:to="label_CurrencyRiskMember_2" xlink:title="label: CurrencyRiskMember to label_CurrencyRiskMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInExchangeRates" xlink:label="IncreaseInExchangeRates" xlink:title="IncreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInExchangeRates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseInExchangeRates" xml:lang="en-US" id="label_IncreaseInExchangeRates">Increase In Exchange Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInExchangeRates" xlink:to="label_IncreaseInExchangeRates" xlink:title="label: IncreaseInExchangeRates to label_IncreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInExchangeRates_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseInExchangeRates" xml:lang="en-US" id="label_IncreaseInExchangeRates_2">Increase in Euro exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInExchangeRates" xlink:to="label_IncreaseInExchangeRates_2" xlink:title="label: IncreaseInExchangeRates to label_IncreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_IncreaseInExchangeRates_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseInExchangeRates" xml:lang="en-US" id="label_IncreaseInExchangeRates_3">Increase in market exchange rates expressed as a percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInExchangeRates" xlink:to="label_IncreaseInExchangeRates_3" xlink:title="label: IncreaseInExchangeRates to label_IncreaseInExchangeRates"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInExchangeRates" xlink:label="DecreaseInExchangeRates" xlink:title="DecreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInExchangeRates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DecreaseInExchangeRates" xml:lang="en-US" id="label_DecreaseInExchangeRates">Decrease In Exchange Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInExchangeRates" xlink:to="label_DecreaseInExchangeRates" xlink:title="label: DecreaseInExchangeRates to label_DecreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInExchangeRates_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DecreaseInExchangeRates" xml:lang="en-US" id="label_DecreaseInExchangeRates_2">Decrease in Euro exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInExchangeRates" xlink:to="label_DecreaseInExchangeRates_2" xlink:title="label: DecreaseInExchangeRates to label_DecreaseInExchangeRates"/>
    <label xlink:type="resource" xlink:label="label_DecreaseInExchangeRates_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DecreaseInExchangeRates" xml:lang="en-US" id="label_DecreaseInExchangeRates_3">Decrease in market exchange rates expressed as a percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInExchangeRates" xlink:to="label_DecreaseInExchangeRates_3" xlink:title="label: DecreaseInExchangeRates to label_DecreaseInExchangeRates"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOffsettingOfFinancialAssetsTable" xlink:label="DisclosureOfOffsettingOfFinancialAssetsTable" xlink:title="DisclosureOfOffsettingOfFinancialAssetsTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfOffsettingOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOffsettingOfFinancialAssetsTable" xml:lang="en-US" id="label_DisclosureOfOffsettingOfFinancialAssetsTable">Disclosure of offsetting of financial assets [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOffsettingOfFinancialAssetsTable" xlink:to="label_DisclosureOfOffsettingOfFinancialAssetsTable" xlink:title="label: DisclosureOfOffsettingOfFinancialAssetsTable to label_DisclosureOfOffsettingOfFinancialAssetsTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesAxis" xlink:label="CounterpartiesAxis" xlink:title="CounterpartiesAxis"/>
    <label xlink:type="resource" xlink:label="label_CounterpartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CounterpartiesAxis" xml:lang="en-US" id="label_CounterpartiesAxis">Counterparties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesAxis" xlink:to="label_CounterpartiesAxis" xlink:title="label: CounterpartiesAxis to label_CounterpartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesMember" xlink:label="CounterpartiesMember" xlink:title="CounterpartiesMember"/>
    <label xlink:type="resource" xlink:label="label_CounterpartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CounterpartiesMember" xml:lang="en-US" id="label_CounterpartiesMember">Counterparties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesMember" xlink:to="label_CounterpartiesMember" xlink:title="label: CounterpartiesMember to label_CounterpartiesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererMember" xlink:label="MajorChartererMember" xlink:title="MajorChartererMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorChartererMember" xml:lang="en-US" id="label_MajorChartererMember">Major Charterer A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererMember" xlink:to="label_MajorChartererMember" xlink:title="label: MajorChartererMember to label_MajorChartererMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorChartererMember" xml:lang="en-US" id="label_MajorChartererMember_2">Major charterer A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererMember" xlink:to="label_MajorChartererMember_2" xlink:title="label: MajorChartererMember to label_MajorChartererMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MajorChartererMember" xml:lang="en-US" id="label_MajorChartererMember_3">A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererMember" xlink:to="label_MajorChartererMember_3" xlink:title="label: MajorChartererMember to label_MajorChartererMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererBMember" xlink:label="MajorChartererBMember" xlink:title="MajorChartererBMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorChartererBMember" xml:lang="en-US" id="label_MajorChartererBMember">Major Charterer B [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererBMember" xlink:to="label_MajorChartererBMember" xlink:title="label: MajorChartererBMember to label_MajorChartererBMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererBMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorChartererBMember" xml:lang="en-US" id="label_MajorChartererBMember_2">Major charterer B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererBMember" xlink:to="label_MajorChartererBMember_2" xlink:title="label: MajorChartererBMember to label_MajorChartererBMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererBMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MajorChartererBMember" xml:lang="en-US" id="label_MajorChartererBMember_3">B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererBMember" xlink:to="label_MajorChartererBMember_3" xlink:title="label: MajorChartererBMember to label_MajorChartererBMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererCMember" xlink:label="MajorChartererCMember" xlink:title="MajorChartererCMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorChartererCMember" xml:lang="en-US" id="label_MajorChartererCMember">Major Charterer C [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererCMember" xlink:to="label_MajorChartererCMember" xlink:title="label: MajorChartererCMember to label_MajorChartererCMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererCMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorChartererCMember" xml:lang="en-US" id="label_MajorChartererCMember_2">Major charterer C</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererCMember" xlink:to="label_MajorChartererCMember_2" xlink:title="label: MajorChartererCMember to label_MajorChartererCMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererCMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MajorChartererCMember" xml:lang="en-US" id="label_MajorChartererCMember_3">C</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererCMember" xlink:to="label_MajorChartererCMember_3" xlink:title="label: MajorChartererCMember to label_MajorChartererCMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererDMember" xlink:label="MajorChartererDMember" xlink:title="MajorChartererDMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererDMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorChartererDMember" xml:lang="en-US" id="label_MajorChartererDMember">Major Charterer D [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererDMember" xlink:to="label_MajorChartererDMember" xlink:title="label: MajorChartererDMember to label_MajorChartererDMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererDMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorChartererDMember" xml:lang="en-US" id="label_MajorChartererDMember_2">Major charterer D</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererDMember" xlink:to="label_MajorChartererDMember_2" xlink:title="label: MajorChartererDMember to label_MajorChartererDMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererDMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MajorChartererDMember" xml:lang="en-US" id="label_MajorChartererDMember_3">D</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererDMember" xlink:to="label_MajorChartererDMember_3" xlink:title="label: MajorChartererDMember to label_MajorChartererDMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherMajorCharterersMember" xlink:label="OtherMajorCharterersMember" xlink:title="OtherMajorCharterersMember"/>
    <label xlink:type="resource" xlink:label="label_OtherMajorCharterersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherMajorCharterersMember" xml:lang="en-US" id="label_OtherMajorCharterersMember">Other Major Charterers [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMajorCharterersMember" xlink:to="label_OtherMajorCharterersMember" xlink:title="label: OtherMajorCharterersMember to label_OtherMajorCharterersMember"/>
    <label xlink:type="resource" xlink:label="label_OtherMajorCharterersMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherMajorCharterersMember" xml:lang="en-US" id="label_OtherMajorCharterersMember_2">Other major charterers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMajorCharterersMember" xlink:to="label_OtherMajorCharterersMember_2" xlink:title="label: OtherMajorCharterersMember to label_OtherMajorCharterersMember"/>
    <label xlink:type="resource" xlink:label="label_OtherMajorCharterersMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherMajorCharterersMember" xml:lang="en-US" id="label_OtherMajorCharterersMember_3">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMajorCharterersMember" xlink:to="label_OtherMajorCharterersMember_3" xlink:title="label: OtherMajorCharterersMember to label_OtherMajorCharterersMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOffsettingOfFinancialAssetsLineItems" xlink:label="DisclosureOfOffsettingOfFinancialAssetsLineItems" xlink:title="DisclosureOfOffsettingOfFinancialAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfOffsettingOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOffsettingOfFinancialAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfOffsettingOfFinancialAssetsLineItems">Disclosure of offsetting of financial assets [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOffsettingOfFinancialAssetsLineItems" xlink:to="label_DisclosureOfOffsettingOfFinancialAssetsLineItems" xlink:title="label: DisclosureOfOffsettingOfFinancialAssetsLineItems to label_DisclosureOfOffsettingOfFinancialAssetsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="PercentageOfEntitysRevenue" xlink:title="PercentageOfEntitysRevenue"/>
    <label xlink:type="resource" xlink:label="label_PercentageOfEntitysRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfEntitysRevenue" xml:lang="en-US" id="label_PercentageOfEntitysRevenue">Percentage Of Entitys Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfEntitysRevenue" xlink:to="label_PercentageOfEntitysRevenue" xlink:title="label: PercentageOfEntitysRevenue to label_PercentageOfEntitysRevenue"/>
    <label xlink:type="resource" xlink:label="label_PercentageOfEntitysRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfEntitysRevenue" xml:lang="en-US" id="label_PercentageOfEntitysRevenue_2">Percentage of entity's revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfEntitysRevenue" xlink:to="label_PercentageOfEntitysRevenue_2" xlink:title="label: PercentageOfEntitysRevenue to label_PercentageOfEntitysRevenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:label="DisclosureOfFinancialLiabilitiesTable" xlink:title="DisclosureOfFinancialLiabilitiesTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialLiabilitiesTable" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesTable">Disclosure of financial liabilities [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="label_DisclosureOfFinancialLiabilitiesTable" xlink:title="label: DisclosureOfFinancialLiabilitiesTable to label_DisclosureOfFinancialLiabilitiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanThreeMonthsMember" xlink:label="NotLaterThanThreeMonthsMember" xlink:title="NotLaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_NotLaterThanThreeMonthsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotLaterThanThreeMonthsMember" xml:lang="en-US" id="label_NotLaterThanThreeMonthsMember">Not later than three months [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanThreeMonthsMember" xlink:to="label_NotLaterThanThreeMonthsMember" xlink:title="label: NotLaterThanThreeMonthsMember to label_NotLaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_NotLaterThanThreeMonthsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotLaterThanThreeMonthsMember" xml:lang="en-US" id="label_NotLaterThanThreeMonthsMember_2">Less than 3 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanThreeMonthsMember" xlink:to="label_NotLaterThanThreeMonthsMember_2" xlink:title="label: NotLaterThanThreeMonthsMember to label_NotLaterThanThreeMonthsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:label="LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:title="LaterThanThreeMonthsAndNotLaterThanSixMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xml:lang="en-US" id="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember">Later than three months and not later than six months [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:to="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:title="label: LaterThanThreeMonthsAndNotLaterThanSixMonthsMember to label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xml:lang="en-US" id="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_2">3 to 12 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:to="label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_2" xlink:title="label: LaterThanThreeMonthsAndNotLaterThanSixMonthsMember to label_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:label="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xml:lang="en-US" id="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember">Later than three months and not later than one year [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:to="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="label: LaterThanThreeMonthsAndNotLaterThanOneYearMember to label_LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xml:lang="en-US" id="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember_2">3 to 12 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:to="label_LaterThanThreeMonthsAndNotLaterThanOneYearMember_2" xlink:title="label: LaterThanThreeMonthsAndNotLaterThanOneYearMember to label_LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="DisclosureOfFinancialLiabilitiesLineItems" xlink:title="DisclosureOfFinancialLiabilitiesLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialLiabilitiesLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesLineItems">Disclosure of financial liabilities [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="label_DisclosureOfFinancialLiabilitiesLineItems" xlink:title="label: DisclosureOfFinancialLiabilitiesLineItems to label_DisclosureOfFinancialLiabilitiesLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilities" xml:lang="en-US" id="label_FinancialLiabilities">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities" xlink:title="label: FinancialLiabilities to label_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilities" xml:lang="en-US" id="label_FinancialLiabilities_2">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_2" xlink:title="label: FinancialLiabilities to label_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinancialLiabilities" xml:lang="en-US" id="label_FinancialLiabilities_3">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_3" xlink:title="label: FinancialLiabilities to label_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilities_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinancialLiabilities" xml:lang="en-US" id="label_FinancialLiabilities_4">Long -term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_4" xlink:title="label: FinancialLiabilities to label_FinancialLiabilities"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US" id="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US" id="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2">Cash (including restricted cash)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US" id="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_3">Amount of cash and cash equivalents including cash and cash equivalents restricted to withdrawal or usage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_3" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US" id="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_4">Less: Cash and bank balances and bank deposits (including restricted cash)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_4" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US" id="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_5">Cash (including restricted cash)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_5" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to label_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDebt" xlink:label="NetDebt" xlink:title="NetDebt"/>
    <label xlink:type="resource" xlink:label="label_NetDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetDebt" xml:lang="en-US" id="label_NetDebt">Net Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebt" xlink:to="label_NetDebt" xlink:title="label: NetDebt to label_NetDebt"/>
    <label xlink:type="resource" xlink:label="label_NetDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetDebt" xml:lang="en-US" id="label_NetDebt_2">Net debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebt" xlink:to="label_NetDebt_2" xlink:title="label: NetDebt to label_NetDebt"/>
    <label xlink:type="resource" xlink:label="label_NetDebt_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NetDebt" xml:lang="en-US" id="label_NetDebt_3">Net debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebt" xlink:to="label_NetDebt_3" xlink:title="label: NetDebt to label_NetDebt"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PropertyPlantAndEquipmentFairValueAdjustment" xlink:label="PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="PropertyPlantAndEquipmentFairValueAdjustment"/>
    <label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentFairValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentFairValueAdjustment" xml:lang="en-US" id="label_PropertyPlantAndEquipmentFairValueAdjustment">Property Plant And Equipment Fair Value Adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentFairValueAdjustment" xlink:to="label_PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="label: PropertyPlantAndEquipmentFairValueAdjustment to label_PropertyPlantAndEquipmentFairValueAdjustment"/>
    <label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentFairValueAdjustment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentFairValueAdjustment" xml:lang="en-US" id="label_PropertyPlantAndEquipmentFairValueAdjustment_2">Adjustment for the market value of vessels (charter-free)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentFairValueAdjustment" xlink:to="label_PropertyPlantAndEquipmentFairValueAdjustment_2" xlink:title="label: PropertyPlantAndEquipmentFairValueAdjustment to label_PropertyPlantAndEquipmentFairValueAdjustment"/>
    <label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentFairValueAdjustment_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertyPlantAndEquipmentFairValueAdjustment" xml:lang="en-US" id="label_PropertyPlantAndEquipmentFairValueAdjustment_3">Amount of addition (reduction) to the property plant and equipment from carrying amount to fair value, when the fair value is materially different from the carrying amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentFairValueAdjustment" xlink:to="label_PropertyPlantAndEquipmentFairValueAdjustment_3" xlink:title="label: PropertyPlantAndEquipmentFairValueAdjustment to label_PropertyPlantAndEquipmentFairValueAdjustment"/>
    <label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentFairValueAdjustment_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PropertyPlantAndEquipmentFairValueAdjustment" xml:lang="en-US" id="label_PropertyPlantAndEquipmentFairValueAdjustment_4">Adjustment for the market value of vessels (charter-free)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentFairValueAdjustment" xlink:to="label_PropertyPlantAndEquipmentFairValueAdjustment_4" xlink:title="label: PropertyPlantAndEquipmentFairValueAdjustment to label_PropertyPlantAndEquipmentFairValueAdjustment"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapitalisation" xlink:label="AdjustedBookCapitalisation" xlink:title="AdjustedBookCapitalisation"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapitalisation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustedBookCapitalisation" xml:lang="en-US" id="label_AdjustedBookCapitalisation">Adjusted Book Capitalisation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapitalisation" xlink:to="label_AdjustedBookCapitalisation" xlink:title="label: AdjustedBookCapitalisation to label_AdjustedBookCapitalisation"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapitalisation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustedBookCapitalisation" xml:lang="en-US" id="label_AdjustedBookCapitalisation_2">Adjusted book capitalization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapitalisation" xlink:to="label_AdjustedBookCapitalisation_2" xlink:title="label: AdjustedBookCapitalisation to label_AdjustedBookCapitalisation"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapitalisation_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustedBookCapitalisation" xml:lang="en-US" id="label_AdjustedBookCapitalisation_3">The adjusted amount of assets less the amount of liabilities taking into consideration all required fair value adjustments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapitalisation" xlink:to="label_AdjustedBookCapitalisation_3" xlink:title="label: AdjustedBookCapitalisation to label_AdjustedBookCapitalisation"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapitalisation_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_AdjustedBookCapitalisation" xml:lang="en-US" id="label_AdjustedBookCapitalisation_4">Adjusted book capitalization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapitalisation" xlink:to="label_AdjustedBookCapitalisation_4" xlink:title="label: AdjustedBookCapitalisation to label_AdjustedBookCapitalisation"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapiltaisationPlusNetDebt" xlink:label="AdjustedBookCapiltaisationPlusNetDebt" xlink:title="AdjustedBookCapiltaisationPlusNetDebt"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapiltaisationPlusNetDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustedBookCapiltaisationPlusNetDebt" xml:lang="en-US" id="label_AdjustedBookCapiltaisationPlusNetDebt">Adjusted Book Capiltaisation Plus Net Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="label_AdjustedBookCapiltaisationPlusNetDebt" xlink:title="label: AdjustedBookCapiltaisationPlusNetDebt to label_AdjustedBookCapiltaisationPlusNetDebt"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapiltaisationPlusNetDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustedBookCapiltaisationPlusNetDebt" xml:lang="en-US" id="label_AdjustedBookCapiltaisationPlusNetDebt_2">Adjusted book capitalization plus net debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="label_AdjustedBookCapiltaisationPlusNetDebt_2" xlink:title="label: AdjustedBookCapiltaisationPlusNetDebt to label_AdjustedBookCapiltaisationPlusNetDebt"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapiltaisationPlusNetDebt_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustedBookCapiltaisationPlusNetDebt" xml:lang="en-US" id="label_AdjustedBookCapiltaisationPlusNetDebt_3">The adjusted amount of assets less the amount of liabilities taking into consideration all required fair value adjustments plus the amount of net debt of the entity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="label_AdjustedBookCapiltaisationPlusNetDebt_3" xlink:title="label: AdjustedBookCapiltaisationPlusNetDebt to label_AdjustedBookCapiltaisationPlusNetDebt"/>
    <label xlink:type="resource" xlink:label="label_AdjustedBookCapiltaisationPlusNetDebt_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_AdjustedBookCapiltaisationPlusNetDebt" xml:lang="en-US" id="label_AdjustedBookCapiltaisationPlusNetDebt_4">Adjusted book capitalization plus net debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedBookCapiltaisationPlusNetDebt" xlink:to="label_AdjustedBookCapiltaisationPlusNetDebt_4" xlink:title="label: AdjustedBookCapiltaisationPlusNetDebt to label_AdjustedBookCapiltaisationPlusNetDebt"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:label="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <label xlink:type="resource" xlink:label="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xml:lang="en-US" id="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio">Net Debt To Adjusted Book Capitalisation Plus Net Debt Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:to="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="label: NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio to label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <label xlink:type="resource" xlink:label="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xml:lang="en-US" id="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_2">Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:to="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_2" xlink:title="label: NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio to label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <label xlink:type="resource" xlink:label="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xml:lang="en-US" id="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_3">The net debt to adjusted book capitalisation plus net debt ratio.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:to="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_3" xlink:title="label: NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio to label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <label xlink:type="resource" xlink:label="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xml:lang="en-US" id="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_4">Net debt to adjusted book capitalisation plus net debt ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:to="label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio_4" xlink:title="label: NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio to label_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsTable" xlink:label="DisclosureOfFinancialInstrumentsTable" xlink:title="DisclosureOfFinancialInstrumentsTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialInstrumentsTable" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsTable">Disclosure of detailed information about financial instruments [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="label_DisclosureOfFinancialInstrumentsTable" xlink:title="label: DisclosureOfFinancialInstrumentsTable to label_DisclosureOfFinancialInstrumentsTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <label xlink:type="resource" xlink:label="label_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TopOfRangeMember" xml:lang="en-US" id="label_TopOfRangeMember">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TopOfRangeMember" xlink:to="label_TopOfRangeMember" xlink:title="label: TopOfRangeMember to label_TopOfRangeMember"/>
    <label xlink:type="resource" xlink:label="label_TopOfRangeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TopOfRangeMember" xml:lang="en-US" id="label_TopOfRangeMember_2">Maximum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TopOfRangeMember" xlink:to="label_TopOfRangeMember_2" xlink:title="label: TopOfRangeMember to label_TopOfRangeMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:label="DisclosureOfFinancialInstrumentsLineItems" xlink:title="DisclosureOfFinancialInstrumentsLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialInstrumentsLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsLineItems">Disclosure of detailed information about financial instruments [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="label_DisclosureOfFinancialInstrumentsLineItems" xlink:title="label: DisclosureOfFinancialInstrumentsLineItems to label_DisclosureOfFinancialInstrumentsLineItems"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPercentageBearingFixedInterestRate" xlink:label="BorrowingsPercentageBearingFixedInterestRate" xlink:title="BorrowingsPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPercentageBearingFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsPercentageBearingFixedInterestRate" xml:lang="en-US" id="label_BorrowingsPercentageBearingFixedInterestRate">Borrowings Percentage Bearing Fixed Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPercentageBearingFixedInterestRate" xlink:to="label_BorrowingsPercentageBearingFixedInterestRate" xlink:title="label: BorrowingsPercentageBearingFixedInterestRate to label_BorrowingsPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPercentageBearingFixedInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsPercentageBearingFixedInterestRate" xml:lang="en-US" id="label_BorrowingsPercentageBearingFixedInterestRate_2">Borrowings, Percentage Bearing Fixed Interest, Percentage Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPercentageBearingFixedInterestRate" xlink:to="label_BorrowingsPercentageBearingFixedInterestRate_2" xlink:title="label: BorrowingsPercentageBearingFixedInterestRate to label_BorrowingsPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsPercentageBearingFixedInterestRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsPercentageBearingFixedInterestRate" xml:lang="en-US" id="label_BorrowingsPercentageBearingFixedInterestRate_3">The percentage of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsPercentageBearingFixedInterestRate" xlink:to="label_BorrowingsPercentageBearingFixedInterestRate_3" xlink:title="label: BorrowingsPercentageBearingFixedInterestRate to label_BorrowingsPercentageBearingFixedInterestRate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:label="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:title="DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueMeasurementOfAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfFairValueMeasurementOfAssetsAbstract">Disclosure of fair value measurement of assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="label_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:title="label: DisclosureOfFairValueMeasurementOfAssetsAbstract to label_DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:label="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="DisclosureOfFairValueMeasurementOfAssetsTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueMeasurementOfAssetsTable" xml:lang="en-US" id="label_DisclosureOfFairValueMeasurementOfAssetsTable">Disclosure of fair value measurement of assets [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="label_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="label: DisclosureOfFairValueMeasurementOfAssetsTable to label_DisclosureOfFairValueMeasurementOfAssetsTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="LevelsOfFairValueHierarchyAxis" xlink:title="LevelsOfFairValueHierarchyAxis"/>
    <label xlink:type="resource" xlink:label="label_LevelsOfFairValueHierarchyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LevelsOfFairValueHierarchyAxis" xml:lang="en-US" id="label_LevelsOfFairValueHierarchyAxis">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="label_LevelsOfFairValueHierarchyAxis" xlink:title="label: LevelsOfFairValueHierarchyAxis to label_LevelsOfFairValueHierarchyAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember" xlink:title="AllLevelsOfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:label="label_AllLevelsOfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllLevelsOfFairValueHierarchyMember" xml:lang="en-US" id="label_AllLevelsOfFairValueHierarchyMember">All levels of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="label_AllLevelsOfFairValueHierarchyMember" xlink:title="label: AllLevelsOfFairValueHierarchyMember to label_AllLevelsOfFairValueHierarchyMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="Level2OfFairValueHierarchyMember" xlink:title="Level2OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:label="label_Level2OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Level2OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level2OfFairValueHierarchyMember">Level 2 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level2OfFairValueHierarchyMember" xlink:to="label_Level2OfFairValueHierarchyMember" xlink:title="label: Level2OfFairValueHierarchyMember to label_Level2OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:label="label_Level2OfFairValueHierarchyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Level2OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level2OfFairValueHierarchyMember_2">Level 2</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level2OfFairValueHierarchyMember" xlink:to="label_Level2OfFairValueHierarchyMember_2" xlink:title="label: Level2OfFairValueHierarchyMember to label_Level2OfFairValueHierarchyMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:label="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:title="DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueMeasurementOfAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfFairValueMeasurementOfAssetsLineItems">Disclosure of fair value measurement of assets [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="label_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:title="label: DisclosureOfFairValueMeasurementOfAssetsLineItems to label_DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="FinancialLiabilitiesAtFairValue" xlink:title="FinancialLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtFairValue" xml:lang="en-US" id="label_FinancialLiabilitiesAtFairValue">Financial liabilities, at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValue" xlink:to="label_FinancialLiabilitiesAtFairValue" xlink:title="label: FinancialLiabilitiesAtFairValue to label_FinancialLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtFairValue" xml:lang="en-US" id="label_FinancialLiabilitiesAtFairValue_2">Financial Liabilities at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValue" xlink:to="label_FinancialLiabilitiesAtFairValue_2" xlink:title="label: FinancialLiabilitiesAtFairValue to label_FinancialLiabilitiesAtFairValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:label="FinancialLiabilitiesAtAmortisedCost" xlink:title="FinancialLiabilitiesAtAmortisedCost"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtAmortisedCost" xml:lang="en-US" id="label_FinancialLiabilitiesAtAmortisedCost">Financial liabilities at amortised cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCost" xlink:to="label_FinancialLiabilitiesAtAmortisedCost" xlink:title="label: FinancialLiabilitiesAtAmortisedCost to label_FinancialLiabilitiesAtAmortisedCost"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCost_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtAmortisedCost" xml:lang="en-US" id="label_FinancialLiabilitiesAtAmortisedCost_2">Debt at amortised cost (long &amp; short-term borrowings)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCost" xlink:to="label_FinancialLiabilitiesAtAmortisedCost_2" xlink:title="label: FinancialLiabilitiesAtAmortisedCost to label_FinancialLiabilitiesAtAmortisedCost"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit">Sensitivity Analysis For Each Type Of Market Risk Negative Effect On Profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_2">Amount of the negative effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_2" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_3">Effect on loss (Increase in Libor)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_3" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <label xlink:type="resource" xlink:label="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xml:lang="en-US" id="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_4">Effect on loss (Increase in Euro exchange rate)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:to="label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit_4" xlink:title="label: SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit to label_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="NoncurrentFinancialLiabilities" xlink:title="NoncurrentFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentFinancialLiabilities">Non-current financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentFinancialLiabilities" xlink:to="label_NoncurrentFinancialLiabilities" xlink:title="label: NoncurrentFinancialLiabilities to label_NoncurrentFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentFinancialLiabilities_2">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentFinancialLiabilities" xlink:to="label_NoncurrentFinancialLiabilities_2" xlink:title="label: NoncurrentFinancialLiabilities to label_NoncurrentFinancialLiabilities"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_DirectorsCompensationSharebasedPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DirectorsCompensationSharebasedPayment" xml:lang="en-US" id="label_DirectorsCompensationSharebasedPayment">The amount of compensation to directors in the form of share-based payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsCompensationSharebasedPayment" xlink:to="label_DirectorsCompensationSharebasedPayment" xlink:title="label: DirectorsCompensationSharebasedPayment to label_DirectorsCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_DirectorsCompensationSharebasedPayment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DirectorsCompensationSharebasedPayment" xml:lang="en-US" id="label_DirectorsCompensationSharebasedPayment_2">Directors Compensation Share based Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsCompensationSharebasedPayment" xlink:to="label_DirectorsCompensationSharebasedPayment_2" xlink:title="label: DirectorsCompensationSharebasedPayment to label_DirectorsCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_DirectorsCompensationSharebasedPayment_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DirectorsCompensationSharebasedPayment" xml:lang="en-US" id="label_DirectorsCompensationSharebasedPayment_3">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsCompensationSharebasedPayment" xlink:to="label_DirectorsCompensationSharebasedPayment_3" xlink:title="label: DirectorsCompensationSharebasedPayment to label_DirectorsCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_DirectorsCompensationSharebasedPayment_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DirectorsCompensationSharebasedPayment" xml:lang="en-US" id="label_DirectorsCompensationSharebasedPayment_4">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsCompensationSharebasedPayment" xlink:to="label_DirectorsCompensationSharebasedPayment_4" xlink:title="label: DirectorsCompensationSharebasedPayment to label_DirectorsCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:label="label_DirectorsCompensationSharebasedPayment_5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DirectorsCompensationSharebasedPayment" xml:lang="en-US" id="label_DirectorsCompensationSharebasedPayment_5">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectorsCompensationSharebasedPayment" xlink:to="label_DirectorsCompensationSharebasedPayment_5" xlink:title="label: DirectorsCompensationSharebasedPayment to label_DirectorsCompensationSharebasedPayment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="OtherNoncurrentAssets" xlink:title="OtherNoncurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentAssets" xml:lang="en-US" id="label_OtherNoncurrentAssets">Other Non current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentAssets" xlink:to="label_OtherNoncurrentAssets" xlink:title="label: OtherNoncurrentAssets to label_OtherNoncurrentAssets"/>
    <label xlink:type="resource" xlink:label="label_OtherNoncurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentAssets" xml:lang="en-US" id="label_OtherNoncurrentAssets_2">Other non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentAssets" xlink:to="label_OtherNoncurrentAssets_2" xlink:title="label: OtherNoncurrentAssets to label_OtherNoncurrentAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <label xlink:type="resource" xlink:label="label_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SignificantInvestmentsInSubsidiariesAxis" xml:lang="en-US" id="label_SignificantInvestmentsInSubsidiariesAxis">Significant Investments In Subsidiaries [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="label_SignificantInvestmentsInSubsidiariesAxis" xlink:title="label: SignificantInvestmentsInSubsidiariesAxis to label_SignificantInvestmentsInSubsidiariesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <label xlink:type="resource" xlink:label="label_EntitysTotalForSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForSubsidiariesMember" xml:lang="en-US" id="label_EntitysTotalForSubsidiariesMember">Entitys Total For Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="label_EntitysTotalForSubsidiariesMember" xlink:title="label: EntitysTotalForSubsidiariesMember to label_EntitysTotalForSubsidiariesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:label="UnconsolidatedStructuredEntitiesAxis" xlink:title="UnconsolidatedStructuredEntitiesAxis"/>
    <label xlink:type="resource" xlink:label="label_UnconsolidatedStructuredEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnconsolidatedStructuredEntitiesAxis" xml:lang="en-US" id="label_UnconsolidatedStructuredEntitiesAxis">Consolidated structured entities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnconsolidatedStructuredEntitiesAxis" xlink:to="label_UnconsolidatedStructuredEntitiesAxis" xlink:title="label: UnconsolidatedStructuredEntitiesAxis to label_UnconsolidatedStructuredEntitiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForConsolidatedStructuredEntitiesMember" xlink:label="EntitysTotalForConsolidatedStructuredEntitiesMember" xlink:title="EntitysTotalForConsolidatedStructuredEntitiesMember"/>
    <label xlink:type="resource" xlink:label="label_EntitysTotalForConsolidatedStructuredEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForConsolidatedStructuredEntitiesMember" xml:lang="en-US" id="label_EntitysTotalForConsolidatedStructuredEntitiesMember">Entity's total for consolidated structured entities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForConsolidatedStructuredEntitiesMember" xlink:to="label_EntitysTotalForConsolidatedStructuredEntitiesMember" xlink:title="label: EntitysTotalForConsolidatedStructuredEntitiesMember to label_EntitysTotalForConsolidatedStructuredEntitiesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusMaritimeLimitedMember" xlink:label="GlobusMaritimeLimitedMember" xlink:title="GlobusMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusMaritimeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GlobusMaritimeLimitedMember" xml:lang="en-US" id="label_GlobusMaritimeLimitedMember">Globus Maritime Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusMaritimeLimitedMember" xlink:to="label_GlobusMaritimeLimitedMember" xlink:title="label: GlobusMaritimeLimitedMember to label_GlobusMaritimeLimitedMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusMaritimeLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GlobusMaritimeLimitedMember" xml:lang="en-US" id="label_GlobusMaritimeLimitedMember_2">Globus Maritime Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusMaritimeLimitedMember" xlink:to="label_GlobusMaritimeLimitedMember_2" xlink:title="label: GlobusMaritimeLimitedMember to label_GlobusMaritimeLimitedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:title="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xml:lang="en-US" id="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory">Disclosure of general information about financial statements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:title="label: DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory to label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xml:lang="en-US" id="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_2">Basis of presentation and general information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_2" xlink:title="label: DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory to label_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xml:lang="en-US" id="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory">Disclosure of significant accounting policies [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="label: DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory to label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xml:lang="en-US" id="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_2">Basis of Preparation and Significant Accounting Policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_2" xlink:title="label: DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory to label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:title="DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCashAndCashEquivalentsExplanatory" xml:lang="en-US" id="label_DisclosureOfCashAndCashEquivalentsExplanatory">Disclosure of cash and cash equivalents [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="label_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:title="label: DisclosureOfCashAndCashEquivalentsExplanatory to label_DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCashAndCashEquivalentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCashAndCashEquivalentsExplanatory" xml:lang="en-US" id="label_DisclosureOfCashAndCashEquivalentsExplanatory_2">Cash and cash equivalents and Restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="label_DisclosureOfCashAndCashEquivalentsExplanatory_2" xlink:title="label: DisclosureOfCashAndCashEquivalentsExplanatory to label_DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory">Disclosure of transactions between related parties [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:title="label: DisclosureOfTransactionsBetweenRelatedPartiesExplanatory to label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_2">Transactions with Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_2" xlink:title="label: DisclosureOfTransactionsBetweenRelatedPartiesExplanatory to label_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentExplanatory">Disclosure of property, plant and equipment [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentExplanatory to label_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentExplanatory_2">Vessels, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentExplanatory_2" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentExplanatory to label_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="DisclosureOfInventoriesExplanatory" xlink:title="DisclosureOfInventoriesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInventoriesExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesExplanatory">Disclosure of inventories [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesExplanatory" xlink:to="label_DisclosureOfInventoriesExplanatory" xlink:title="label: DisclosureOfInventoriesExplanatory to label_DisclosureOfInventoriesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInventoriesExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesExplanatory_2">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesExplanatory" xlink:to="label_DisclosureOfInventoriesExplanatory_2" xlink:title="label: DisclosureOfInventoriesExplanatory to label_DisclosureOfInventoriesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:label="DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:title="DisclosureOfPrepaymentsAndOtherAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xml:lang="en-US" id="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory">Disclosure of prepayments and other assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:to="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:title="label: DisclosureOfPrepaymentsAndOtherAssetsExplanatory to label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xml:lang="en-US" id="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_2">Prepayments and other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:to="label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory_2" xlink:title="label: DisclosureOfPrepaymentsAndOtherAssetsExplanatory to label_DisclosureOfPrepaymentsAndOtherAssetsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:label="DisclosureOfTradeAndOtherPayablesExplanatory" xlink:title="DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTradeAndOtherPayablesExplanatory" xml:lang="en-US" id="label_DisclosureOfTradeAndOtherPayablesExplanatory">Disclosure of trade and other payables [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="label_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:title="label: DisclosureOfTradeAndOtherPayablesExplanatory to label_DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfTradeAndOtherPayablesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTradeAndOtherPayablesExplanatory" xml:lang="en-US" id="label_DisclosureOfTradeAndOtherPayablesExplanatory_2">Trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="label_DisclosureOfTradeAndOtherPayablesExplanatory_2" xlink:title="label: DisclosureOfTradeAndOtherPayablesExplanatory to label_DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:label="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:title="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xml:lang="en-US" id="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory">Disclosure of accrued expenses and other liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:to="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:title="label: DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory to label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xml:lang="en-US" id="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_2">Accrued liabilities and other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:to="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_2" xlink:title="label: DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory to label_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:label="DisclosureOfClassesOfShareCapitalExplanatory" xlink:title="DisclosureOfClassesOfShareCapitalExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalExplanatory" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalExplanatory">Disclosure of classes of share capital [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="label_DisclosureOfClassesOfShareCapitalExplanatory" xlink:title="label: DisclosureOfClassesOfShareCapitalExplanatory to label_DisclosureOfClassesOfShareCapitalExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfClassesOfShareCapitalExplanatory" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalExplanatory_2">Authorised share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="label_DisclosureOfClassesOfShareCapitalExplanatory_2" xlink:title="label: DisclosureOfClassesOfShareCapitalExplanatory to label_DisclosureOfClassesOfShareCapitalExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:label="DisclosureOfEarningsPerShareExplanatory" xlink:title="DisclosureOfEarningsPerShareExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEarningsPerShareExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEarningsPerShareExplanatory" xml:lang="en-US" id="label_DisclosureOfEarningsPerShareExplanatory">Disclosure of earnings per share [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEarningsPerShareExplanatory" xlink:to="label_DisclosureOfEarningsPerShareExplanatory" xlink:title="label: DisclosureOfEarningsPerShareExplanatory to label_DisclosureOfEarningsPerShareExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEarningsPerShareExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfEarningsPerShareExplanatory" xml:lang="en-US" id="label_DisclosureOfEarningsPerShareExplanatory_2">Loss per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEarningsPerShareExplanatory" xlink:to="label_DisclosureOfEarningsPerShareExplanatory_2" xlink:title="label: DisclosureOfEarningsPerShareExplanatory to label_DisclosureOfEarningsPerShareExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="DisclosureOfBorrowingsExplanatory" xlink:title="DisclosureOfBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfBorrowingsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfBorrowingsExplanatory" xml:lang="en-US" id="label_DisclosureOfBorrowingsExplanatory">Disclosure of borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBorrowingsExplanatory" xlink:to="label_DisclosureOfBorrowingsExplanatory" xlink:title="label: DisclosureOfBorrowingsExplanatory to label_DisclosureOfBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfBorrowingsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfBorrowingsExplanatory" xml:lang="en-US" id="label_DisclosureOfBorrowingsExplanatory_2">Long-Term Debt, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBorrowingsExplanatory" xlink:to="label_DisclosureOfBorrowingsExplanatory_2" xlink:title="label: DisclosureOfBorrowingsExplanatory to label_DisclosureOfBorrowingsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:title="DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSharebasedPaymentArrangementsExplanatory" xml:lang="en-US" id="label_DisclosureOfSharebasedPaymentArrangementsExplanatory">Disclosure of share-based payment arrangements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="label_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:title="label: DisclosureOfSharebasedPaymentArrangementsExplanatory to label_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSharebasedPaymentArrangementsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSharebasedPaymentArrangementsExplanatory" xml:lang="en-US" id="label_DisclosureOfSharebasedPaymentArrangementsExplanatory_2">Share Based Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="label_DisclosureOfSharebasedPaymentArrangementsExplanatory_2" xlink:title="label: DisclosureOfSharebasedPaymentArrangementsExplanatory to label_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory" xlink:label="DisclosureOfOtherOperatingExpenseExplanatory" xlink:title="DisclosureOfOtherOperatingExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfOtherOperatingExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherOperatingExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfOtherOperatingExpenseExplanatory">Disclosure of other operating expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherOperatingExpenseExplanatory" xlink:to="label_DisclosureOfOtherOperatingExpenseExplanatory" xlink:title="label: DisclosureOfOtherOperatingExpenseExplanatory to label_DisclosureOfOtherOperatingExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfOtherOperatingExpenseExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOtherOperatingExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfOtherOperatingExpenseExplanatory_2">Voyage Expenses and Vessel Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherOperatingExpenseExplanatory" xlink:to="label_DisclosureOfOtherOperatingExpenseExplanatory_2" xlink:title="label: DisclosureOfOtherOperatingExpenseExplanatory to label_DisclosureOfOtherOperatingExpenseExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:title="DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory">Disclosure of general and administrative expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:title="label: DisclosureOfGeneralAndAdministrativeExpenseExplanatory to label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_2">Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_2" xlink:title="label: DisclosureOfGeneralAndAdministrativeExpenseExplanatory to label_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInterestExpenseExplanatory" xlink:label="DisclosureOfInterestExpenseExplanatory" xlink:title="DisclosureOfInterestExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInterestExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestExpenseExplanatory">Disclosure of interest expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInterestExpenseExplanatory" xlink:to="label_DisclosureOfInterestExpenseExplanatory" xlink:title="label: DisclosureOfInterestExpenseExplanatory to label_DisclosureOfInterestExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestExpenseExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInterestExpenseExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestExpenseExplanatory_2">Interest Expense and Finance Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInterestExpenseExplanatory" xlink:to="label_DisclosureOfInterestExpenseExplanatory_2" xlink:title="label: DisclosureOfInterestExpenseExplanatory to label_DisclosureOfInterestExpenseExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDividendsExplanatory" xlink:label="DisclosureOfDividendsExplanatory" xlink:title="DisclosureOfDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDividendsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDividendsExplanatory" xml:lang="en-US" id="label_DisclosureOfDividendsExplanatory">Disclosure of dividends [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDividendsExplanatory" xlink:to="label_DisclosureOfDividendsExplanatory" xlink:title="label: DisclosureOfDividendsExplanatory to label_DisclosureOfDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDividendsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDividendsExplanatory" xml:lang="en-US" id="label_DisclosureOfDividendsExplanatory_2">Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDividendsExplanatory" xlink:to="label_DisclosureOfDividendsExplanatory_2" xlink:title="label: DisclosureOfDividendsExplanatory to label_DisclosureOfDividendsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfContingentLiabilitiesAbstract" xlink:label="DisclosureOfContingentLiabilitiesAbstract" xlink:title="DisclosureOfContingentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentLiabilitiesAbstract" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesAbstract">Disclosure of contingent liabilities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesAbstract" xlink:to="label_DisclosureOfContingentLiabilitiesAbstract" xlink:title="label: DisclosureOfContingentLiabilitiesAbstract to label_DisclosureOfContingentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfContingentLiabilitiesExplanatory" xlink:label="DisclosureOfContingentLiabilitiesExplanatory" xlink:title="DisclosureOfContingentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentLiabilitiesExplanatory" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesExplanatory">Disclosure of contingent liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesExplanatory" xlink:to="label_DisclosureOfContingentLiabilitiesExplanatory" xlink:title="label: DisclosureOfContingentLiabilitiesExplanatory to label_DisclosureOfContingentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfContingentLiabilitiesExplanatory" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesExplanatory_2">Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesExplanatory" xlink:to="label_DisclosureOfContingentLiabilitiesExplanatory_2" xlink:title="label: DisclosureOfContingentLiabilitiesExplanatory to label_DisclosureOfContingentLiabilitiesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCommitmentsExplanatory" xlink:label="DisclosureOfCommitmentsExplanatory" xlink:title="DisclosureOfCommitmentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCommitmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCommitmentsExplanatory" xml:lang="en-US" id="label_DisclosureOfCommitmentsExplanatory">Disclosure of commitments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCommitmentsExplanatory" xlink:to="label_DisclosureOfCommitmentsExplanatory" xlink:title="label: DisclosureOfCommitmentsExplanatory to label_DisclosureOfCommitmentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCommitmentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCommitmentsExplanatory" xml:lang="en-US" id="label_DisclosureOfCommitmentsExplanatory_2">Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCommitmentsExplanatory" xlink:to="label_DisclosureOfCommitmentsExplanatory_2" xlink:title="label: DisclosureOfCommitmentsExplanatory to label_DisclosureOfCommitmentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="DisclosureOfIncomeTaxExplanatory" xlink:title="DisclosureOfIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfIncomeTaxExplanatory" xml:lang="en-US" id="label_DisclosureOfIncomeTaxExplanatory">Disclosure of income tax [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfIncomeTaxExplanatory" xlink:to="label_DisclosureOfIncomeTaxExplanatory" xlink:title="label: DisclosureOfIncomeTaxExplanatory to label_DisclosureOfIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfIncomeTaxExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfIncomeTaxExplanatory" xml:lang="en-US" id="label_DisclosureOfIncomeTaxExplanatory_2">Income Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfIncomeTaxExplanatory" xlink:to="label_DisclosureOfIncomeTaxExplanatory_2" xlink:title="label: DisclosureOfIncomeTaxExplanatory to label_DisclosureOfIncomeTaxExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:label="DisclosureOfFinancialRiskManagementExplanatory" xlink:title="DisclosureOfFinancialRiskManagementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialRiskManagementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialRiskManagementExplanatory" xml:lang="en-US" id="label_DisclosureOfFinancialRiskManagementExplanatory">Disclosure of financial risk management [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialRiskManagementExplanatory" xlink:to="label_DisclosureOfFinancialRiskManagementExplanatory" xlink:title="label: DisclosureOfFinancialRiskManagementExplanatory to label_DisclosureOfFinancialRiskManagementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialRiskManagementExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialRiskManagementExplanatory" xml:lang="en-US" id="label_DisclosureOfFinancialRiskManagementExplanatory_2">Financial risk management objectives and policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialRiskManagementExplanatory" xlink:to="label_DisclosureOfFinancialRiskManagementExplanatory_2" xlink:title="label: DisclosureOfFinancialRiskManagementExplanatory to label_DisclosureOfFinancialRiskManagementExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:label="DisclosureOfFairValueMeasurementExplanatory" xlink:title="DisclosureOfFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValueMeasurementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueMeasurementExplanatory" xml:lang="en-US" id="label_DisclosureOfFairValueMeasurementExplanatory">Disclosure of fair value measurement [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueMeasurementExplanatory" xlink:to="label_DisclosureOfFairValueMeasurementExplanatory" xlink:title="label: DisclosureOfFairValueMeasurementExplanatory to label_DisclosureOfFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValueMeasurementExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFairValueMeasurementExplanatory" xml:lang="en-US" id="label_DisclosureOfFairValueMeasurementExplanatory_2">Fair values</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueMeasurementExplanatory" xlink:to="label_DisclosureOfFairValueMeasurementExplanatory_2" xlink:title="label: DisclosureOfFairValueMeasurementExplanatory to label_DisclosureOfFairValueMeasurementExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract">Disclosure of non-adjusting events after reporting period [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="label: DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract to label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:title="DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEventsAfterReportingPeriodExplanatory" xml:lang="en-US" id="label_DisclosureOfEventsAfterReportingPeriodExplanatory">Disclosure of events after reporting period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="label_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:title="label: DisclosureOfEventsAfterReportingPeriodExplanatory to label_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEventsAfterReportingPeriodExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfEventsAfterReportingPeriodExplanatory" xml:lang="en-US" id="label_DisclosureOfEventsAfterReportingPeriodExplanatory_2">Events after the reporting date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="label_DisclosureOfEventsAfterReportingPeriodExplanatory_2" xlink:title="label: DisclosureOfEventsAfterReportingPeriodExplanatory to label_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:title="DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue">Description of accounting policy for recognition of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:title="label: DescriptionOfAccountingPolicyForRecognitionOfRevenue to label_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue_2">Accounting for revenue and related expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="label_DescriptionOfAccountingPolicyForRecognitionOfRevenue_2" xlink:title="label: DescriptionOfAccountingPolicyForRecognitionOfRevenue to label_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:title="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">Description of accounting policy for foreign currency translation [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory to label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_2">Foreign currency translation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory to label_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory">Description of accounting policy for restricted cash and cash equivalents [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory to label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_2">Cash and cash equivalents:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory to label_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:title="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory">Description of accounting policy for trade and other receivables [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory to label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_2">Trade receivables, net:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory to label_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="DescriptionOfAccountingPolicyForMeasuringInventories" xlink:title="DescriptionOfAccountingPolicyForMeasuringInventories"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForMeasuringInventories" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForMeasuringInventories">Description of accounting policy for measuring inventories [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="label_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:title="label: DescriptionOfAccountingPolicyForMeasuringInventories to label_DescriptionOfAccountingPolicyForMeasuringInventories"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForMeasuringInventories_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForMeasuringInventories" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForMeasuringInventories_2">Inventories:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="label_DescriptionOfAccountingPolicyForMeasuringInventories_2" xlink:title="label: DescriptionOfAccountingPolicyForMeasuringInventories to label_DescriptionOfAccountingPolicyForMeasuringInventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:title="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory">Description of accounting policy for property, plant and equipment [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory to label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_2">Vessels, net:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory to label_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:label="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:title="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory">Description of accounting policy for regulatory deferral accounts [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory to label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory_2">Deferred dry-docking costs:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory to label_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:label="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:title="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory">Description of accounting policy for depreciation expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory to label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory_2">Depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory to label_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:label="DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:title="DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForLeasesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLeasesExplanatory">Description of accounting policy for leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForLeasesExplanatory to label_DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLeasesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForLeasesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLeasesExplanatory_2">Amortization of lease component:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLeasesExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForLeasesExplanatory to label_DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:title="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory">Description of accounting policy for impairment of non-financial assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory to label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_2">Impairment of non-financial assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory to label_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:title="DescriptionOfAccountingPolicyForBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory">Description of accounting policy for borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForBorrowingsExplanatory to label_DescriptionOfAccountingPolicyForBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory_2">Long-term debt:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForBorrowingsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForBorrowingsExplanatory to label_DescriptionOfAccountingPolicyForBorrowingsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:label="DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:title="DescriptionOfAccountingPolicyForFinanceCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory">Description of accounting policy for finance costs [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForFinanceCostsExplanatory to label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory_2">Financing costs:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForFinanceCostsExplanatory to label_DescriptionOfAccountingPolicyForFinanceCostsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:label="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:title="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory">Description of accounting policy for borrowing costs [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForBorrowingCostsExplanatory to label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_2">Borrowing costs:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForBorrowingCostsExplanatory to label_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:title="DescriptionOfAccountingPolicyForSegmentReportingExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory">Description of accounting policy for segment reporting [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForSegmentReportingExplanatory to label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_2">Operating segment:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForSegmentReportingExplanatory to label_DescriptionOfAccountingPolicyForSegmentReportingExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:title="DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForProvisionsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForProvisionsExplanatory">Description of accounting policy for provisions [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForProvisionsExplanatory to label_DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForProvisionsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForProvisionsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForProvisionsExplanatory_2">Provisions and contingencies:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForProvisionsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForProvisionsExplanatory to label_DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTerminationBenefits" xlink:label="DescriptionOfAccountingPolicyForTerminationBenefits" xlink:title="DescriptionOfAccountingPolicyForTerminationBenefits"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForTerminationBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForTerminationBenefits" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForTerminationBenefits">Description of accounting policy for termination benefits [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForTerminationBenefits" xlink:to="label_DescriptionOfAccountingPolicyForTerminationBenefits" xlink:title="label: DescriptionOfAccountingPolicyForTerminationBenefits to label_DescriptionOfAccountingPolicyForTerminationBenefits"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForTerminationBenefits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForTerminationBenefits" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForTerminationBenefits_2">Pension and retirement benefit obligations:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForTerminationBenefits" xlink:to="label_DescriptionOfAccountingPolicyForTerminationBenefits_2" xlink:title="label: DescriptionOfAccountingPolicyForTerminationBenefits to label_DescriptionOfAccountingPolicyForTerminationBenefits"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory">Description of accounting policy for offsetting of financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory_2">Offsetting of financial assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory">Description of accounting policy for derecognition of financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory_2">Derecognition of financial assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyForLessorExplanatory" xlink:label="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:title="DescriptionOfAccountingPolicyForLessorExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLessorExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForLessorExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLessorExplanatory">Description of accounting policy for lessor [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLessorExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForLessorExplanatory to label_DescriptionOfAccountingPolicyForLessorExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLessorExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfAccountingPolicyForLessorExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLessorExplanatory_2">The description of the entity's accounting policy for leases acting as lessor.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLessorExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForLessorExplanatory to label_DescriptionOfAccountingPolicyForLessorExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLessorExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForLessorExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLessorExplanatory_3">Leases - where an entity is the lessor:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLessorExplanatory_3" xlink:title="label: DescriptionOfAccountingPolicyForLessorExplanatory to label_DescriptionOfAccountingPolicyForLessorExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:label="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:title="DescriptionOfAccountingPolicyForLesseeExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForLesseeExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLesseeExplanatory">Description of accounting policy for lessee [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForLesseeExplanatory to label_DescriptionOfAccountingPolicyForLesseeExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLesseeExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfAccountingPolicyForLesseeExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLesseeExplanatory_2">The description of the entity's accounting policy for leases acting as lessee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLesseeExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForLesseeExplanatory to label_DescriptionOfAccountingPolicyForLesseeExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForLesseeExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForLesseeExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForLesseeExplanatory_3">Leases - where the Company is the lessee:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForLesseeExplanatory_3" xlink:title="label: DescriptionOfAccountingPolicyForLesseeExplanatory to label_DescriptionOfAccountingPolicyForLesseeExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts" xlink:label="DescriptionOfAccountingPolicyForInsuranceContracts" xlink:title="DescriptionOfAccountingPolicyForInsuranceContracts"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForInsuranceContracts" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForInsuranceContracts">Description of accounting policy for insurance contracts and related assets, liabilities, income and expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForInsuranceContracts" xlink:to="label_DescriptionOfAccountingPolicyForInsuranceContracts" xlink:title="label: DescriptionOfAccountingPolicyForInsuranceContracts to label_DescriptionOfAccountingPolicyForInsuranceContracts"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForInsuranceContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForInsuranceContracts" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForInsuranceContracts_2">Insurance:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForInsuranceContracts" xlink:to="label_DescriptionOfAccountingPolicyForInsuranceContracts_2" xlink:title="label: DescriptionOfAccountingPolicyForInsuranceContracts to label_DescriptionOfAccountingPolicyForInsuranceContracts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:title="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory">Description of accounting policy for share-based payment transactions [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory to label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_2">Share based compensation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory to label_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:title="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory">Description of accounting policy for issued capital [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForIssuedCapitalExplanatory to label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_2">Share capital:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForIssuedCapitalExplanatory to label_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:label="DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:title="DescriptionOfAccountingPolicyForDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForDividendsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDividendsExplanatory">Description of accounting policy for dividends [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForDividendsExplanatory to label_DescriptionOfAccountingPolicyForDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDividendsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForDividendsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDividendsExplanatory_2">Dividends:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDividendsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForDividendsExplanatory to label_DescriptionOfAccountingPolicyForDividendsExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:label="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:title="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory">Description of accounting policy for non-current assets or disposal groups classified as held for sale [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory to label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_2">Non-current assets held for sale:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory to label_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:label="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:title="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory">Description of accounting policy for fair value measurement [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory to label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_2">Fair value measurement:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory to label_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:label="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:title="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements">Description of accounting policy for determining characteristics of Current Elements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:to="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:title="label: DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements to label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_2">The description of the accounting policy used to determine the characteristics of current and noncurrent elements as in the statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:to="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_2" xlink:title="label: DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements to label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_3">Current versus non-current classification:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:to="label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements_3" xlink:title="label: DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements to label_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:label="DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:title="DescriptionOfInitialApplicationOfStandardsOrInterpretations"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xml:lang="en-US" id="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations">Disclosure of initial application of standards or interpretations [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:to="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:title="label: DescriptionOfInitialApplicationOfStandardsOrInterpretations to label_DescriptionOfInitialApplicationOfStandardsOrInterpretations"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xml:lang="en-US" id="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations_2">Standards amendments and interpretations:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:to="label_DescriptionOfInitialApplicationOfStandardsOrInterpretations_2" xlink:title="label: DescriptionOfInitialApplicationOfStandardsOrInterpretations to label_DescriptionOfInitialApplicationOfStandardsOrInterpretations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGoingConcernExplanatory" xlink:label="DisclosureOfGoingConcernExplanatory" xlink:title="DisclosureOfGoingConcernExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGoingConcernExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGoingConcernExplanatory" xml:lang="en-US" id="label_DisclosureOfGoingConcernExplanatory">Disclosure of going concern [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGoingConcernExplanatory" xlink:to="label_DisclosureOfGoingConcernExplanatory" xlink:title="label: DisclosureOfGoingConcernExplanatory to label_DisclosureOfGoingConcernExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfGoingConcernExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGoingConcernExplanatory" xml:lang="en-US" id="label_DisclosureOfGoingConcernExplanatory_2">Going concern basis of accounting:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGoingConcernExplanatory" xlink:to="label_DisclosureOfGoingConcernExplanatory_2" xlink:title="label: DisclosureOfGoingConcernExplanatory to label_DisclosureOfGoingConcernExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:label="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:title="DisclosureOfAccountingJudgementsAndEstimatesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xml:lang="en-US" id="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory">Disclosure of accounting judgements and estimates [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:to="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:title="label: DisclosureOfAccountingJudgementsAndEstimatesExplanatory to label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xml:lang="en-US" id="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory_2">Significant accounting policies, judgments, estimates and assumptions:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:to="label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory_2" xlink:title="label: DisclosureOfAccountingJudgementsAndEstimatesExplanatory to label_DisclosureOfAccountingJudgementsAndEstimatesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WagesAndSalaries" xlink:label="WagesAndSalaries" xlink:title="WagesAndSalaries"/>
    <label xlink:type="resource" xlink:label="label_WagesAndSalaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WagesAndSalaries" xml:lang="en-US" id="label_WagesAndSalaries">Wages And Salaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagesAndSalaries" xlink:to="label_WagesAndSalaries" xlink:title="label: WagesAndSalaries to label_WagesAndSalaries"/>
    <label xlink:type="resource" xlink:label="label_WagesAndSalaries_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WagesAndSalaries" xml:lang="en-US" id="label_WagesAndSalaries_2">Crew wages and related costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagesAndSalaries" xlink:to="label_WagesAndSalaries_2" xlink:title="label: WagesAndSalaries to label_WagesAndSalaries"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureLineItems" xlink:label="DisclosureOfCreditRiskExposureLineItems" xlink:title="DisclosureOfCreditRiskExposureLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCreditRiskExposureLineItems" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureLineItems">Disclosure of credit risk exposure [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="label_DisclosureOfCreditRiskExposureLineItems" xlink:title="label: DisclosureOfCreditRiskExposureLineItems to label_DisclosureOfCreditRiskExposureLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureTable" xlink:label="DisclosureOfCreditRiskExposureTable" xlink:title="DisclosureOfCreditRiskExposureTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCreditRiskExposureTable" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureTable">Disclosure of credit risk exposure [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="label_DisclosureOfCreditRiskExposureTable" xlink:title="label: DisclosureOfCreditRiskExposureTable to label_DisclosureOfCreditRiskExposureTable"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConsultingFeesExpense" xlink:label="ConsultingFeesExpense" xlink:title="ConsultingFeesExpense"/>
    <label xlink:type="resource" xlink:label="label_ConsultingFeesExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConsultingFeesExpense" xml:lang="en-US" id="label_ConsultingFeesExpense">The amount of fees paid or payable for consulting fees.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesExpense" xlink:to="label_ConsultingFeesExpense" xlink:title="label: ConsultingFeesExpense to label_ConsultingFeesExpense"/>
    <label xlink:type="resource" xlink:label="label_ConsultingFeesExpense_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConsultingFeesExpense" xml:lang="en-US" id="label_ConsultingFeesExpense_2">Consulting Fees Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesExpense" xlink:to="label_ConsultingFeesExpense_2" xlink:title="label: ConsultingFeesExpense to label_ConsultingFeesExpense"/>
    <label xlink:type="resource" xlink:label="label_ConsultingFeesExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConsultingFeesExpense" xml:lang="en-US" id="label_ConsultingFeesExpense_3">Consulting fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesExpense" xlink:to="label_ConsultingFeesExpense_3" xlink:title="label: ConsultingFeesExpense to label_ConsultingFeesExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="BasicEarningsLossPerShare" xlink:title="BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicEarningsLossPerShare" xml:lang="en-US" id="label_BasicEarningsLossPerShare">Basic earnings (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShare" xlink:to="label_BasicEarningsLossPerShare" xlink:title="label: BasicEarningsLossPerShare to label_BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasicEarningsLossPerShare" xml:lang="en-US" id="label_BasicEarningsLossPerShare_2">- Basic loss per share for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShare" xlink:to="label_BasicEarningsLossPerShare_2" xlink:title="label: BasicEarningsLossPerShare to label_BasicEarningsLossPerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="DilutedEarningsLossPerShare" xlink:title="DilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutedEarningsLossPerShare" xml:lang="en-US" id="label_DilutedEarningsLossPerShare">Diluted earnings (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare" xlink:title="label: DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutedEarningsLossPerShare" xml:lang="en-US" id="label_DilutedEarningsLossPerShare_2">- Diluted loss per share for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare_2" xlink:title="label: DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity">Increase (decrease) through exercise of warrants, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="label: IncreaseDecreaseThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_2">Issuance of common stock due to exercise of warrants (note 10)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_2" xlink:title="label: IncreaseDecreaseThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_3">Issuance of common stock due to exercise of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseThroughExerciseOfWarrantsEquity_3" xlink:title="label: IncreaseDecreaseThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssueOfEquity" xml:lang="en-US" id="label_IssueOfEquity">Issue of equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity" xlink:title="label: IssueOfEquity to label_IssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IssueOfEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssueOfEquity" xml:lang="en-US" id="label_IssueOfEquity_2">Issuance of common shares (note 10)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity_2" xlink:title="label: IssueOfEquity to label_IssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IssueOfEquity_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IssueOfEquity" xml:lang="en-US" id="label_IssueOfEquity_3">Issuance of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity_3" xlink:title="label: IssueOfEquity to label_IssueOfEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuingShares" xml:lang="en-US" id="label_ProceedsFromIssuingShares">Proceeds from issuing shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares" xlink:title="label: ProceedsFromIssuingShares to label_ProceedsFromIssuingShares"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuingShares" xml:lang="en-US" id="label_ProceedsFromIssuingShares_2">Proceeds from issuance of share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares_2" xlink:title="label: ProceedsFromIssuingShares to label_ProceedsFromIssuingShares"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xml:lang="en-US" id="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities">Purchase of other long-term assets, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="label: PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities to label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xml:lang="en-US" id="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_2">Purchases of office furniture and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_2" xlink:title="label: PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities to label_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="AdjustedWeightedAverageShares" xlink:title="AdjustedWeightedAverageShares"/>
    <label xlink:type="resource" xlink:label="label_AdjustedWeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustedWeightedAverageShares" xml:lang="en-US" id="label_AdjustedWeightedAverageShares">Adjusted weighted average number of ordinary shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedWeightedAverageShares" xlink:to="label_AdjustedWeightedAverageShares" xlink:title="label: AdjustedWeightedAverageShares to label_AdjustedWeightedAverageShares"/>
    <label xlink:type="resource" xlink:label="label_AdjustedWeightedAverageShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustedWeightedAverageShares" xml:lang="en-US" id="label_AdjustedWeightedAverageShares_2">Weighted average number of shares for diluted LPS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustedWeightedAverageShares" xlink:to="label_AdjustedWeightedAverageShares_2" xlink:title="label: AdjustedWeightedAverageShares to label_AdjustedWeightedAverageShares"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererEMember" xlink:label="MajorChartererEMember" xlink:title="MajorChartererEMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererEMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorChartererEMember" xml:lang="en-US" id="label_MajorChartererEMember">Major Charterer E [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererEMember" xlink:to="label_MajorChartererEMember" xlink:title="label: MajorChartererEMember to label_MajorChartererEMember"/>
    <label xlink:type="resource" xlink:label="label_MajorChartererEMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorChartererEMember" xml:lang="en-US" id="label_MajorChartererEMember_2">E</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorChartererEMember" xlink:to="label_MajorChartererEMember_2" xlink:title="label: MajorChartererEMember to label_MajorChartererEMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions">Increase Decrease In Number Of Ordinary Shares Issued Through Share based Payment Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_2">Issued during the year for share based compensation (note 13)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_2" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_3">The increase (decrease) in the number of ordinary shares issued resulting from share-based payment transactions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_3" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_4">Increase/decrease in number of ordinary shares issued through share based payment transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions_4" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity">Increase Decrease In Number Of Ordinary Shares Issued Issue Of Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_2">Issuance of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_2" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_3">The increase (decrease) in the number of ordinary shares issued through the issue of equity instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity_3" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity">Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_2">Issuance of common stock due to exercise of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_2" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xml:lang="en-US" id="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_3">The increase (decrease) in the number of ordinary shares resulting from the exercise of warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:to="label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity_3" xlink:title="label: IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity to label_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:label="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants">Maximum Proportion Of Ownership Interests Held By Investors After Exercise Of Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:to="label_ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="label: ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants to label_ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <label xlink:type="resource" xlink:label="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xml:lang="en-US" id="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants">Maximum proportion of owneship interest by a warrant holder after warrants exercises</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:to="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="label: MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants to label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <label xlink:type="resource" xlink:label="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xml:lang="en-US" id="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants_2">The maximum proportion of ownership interest held by a warrant holder after the exercise of the warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:to="label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants_2" xlink:title="label: MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants to label_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017WarrantsMember" xlink:label="February2017WarrantsMember" xlink:title="February2017WarrantsMember"/>
    <label xlink:type="resource" xlink:label="label_February2017WarrantsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2017WarrantsMember" xml:lang="en-US" id="label_February2017WarrantsMember">February 2017 Warrants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017WarrantsMember" xlink:to="label_February2017WarrantsMember" xlink:title="label: February2017WarrantsMember to label_February2017WarrantsMember"/>
    <label xlink:type="resource" xlink:label="label_February2017WarrantsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2017WarrantsMember" xml:lang="en-US" id="label_February2017WarrantsMember_2">February 2017 Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017WarrantsMember" xlink:to="label_February2017WarrantsMember_2" xlink:title="label: February2017WarrantsMember to label_February2017WarrantsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsOutstanding" xlink:label="WarrantsOutstanding" xlink:title="WarrantsOutstanding"/>
    <label xlink:type="resource" xlink:label="label_WarrantsOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WarrantsOutstanding" xml:lang="en-US" id="label_WarrantsOutstanding">Number Of Warrants Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsOutstanding" xlink:to="label_WarrantsOutstanding" xlink:title="label: WarrantsOutstanding to label_WarrantsOutstanding"/>
    <label xlink:type="resource" xlink:label="label_NumberOfWarrantsOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfWarrantsOutstanding" xml:lang="en-US" id="label_NumberOfWarrantsOutstanding">Number of outstanding warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsOutstanding" xlink:to="label_NumberOfWarrantsOutstanding" xlink:title="label: NumberOfWarrantsOutstanding to label_NumberOfWarrantsOutstanding"/>
    <label xlink:type="resource" xlink:label="label_NumberOfWarrantsOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfWarrantsOutstanding" xml:lang="en-US" id="label_NumberOfWarrantsOutstanding_2">The number of outstanding warrants that permit the holder the right to purchase equity securities from the issuer at a specified price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsOutstanding" xlink:to="label_NumberOfWarrantsOutstanding_2" xlink:title="label: NumberOfWarrantsOutstanding to label_NumberOfWarrantsOutstanding"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsExercised" xlink:label="NumberOfWarrantsExercised" xlink:title="NumberOfWarrantsExercised"/>
    <label xlink:type="resource" xlink:label="label_NumberOfWarrantsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfWarrantsExercised" xml:lang="en-US" id="label_NumberOfWarrantsExercised">Number Of Warrants Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfWarrantsExercised" xlink:to="label_NumberOfWarrantsExercised" xlink:title="label: NumberOfWarrantsExercised to label_NumberOfWarrantsExercised"/>
    <label xlink:type="resource" xlink:label="label_NumberOfWarrantsExercised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfWarrantsExercised" xml:lang="en-US" id="label_NumberOfWarrantsExercised_2">Number of warrants exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfWarrantsExercised" xlink:to="label_NumberOfWarrantsExercised_2" xlink:title="label: NumberOfWarrantsExercised to label_NumberOfWarrantsExercised"/>
    <label xlink:type="resource" xlink:label="label_NumberOfWarrantsExercised_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfWarrantsExercised" xml:lang="en-US" id="label_NumberOfWarrantsExercised_3">The number of warrants exercised.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfWarrantsExercised" xlink:to="label_NumberOfWarrantsExercised_3" xlink:title="label: NumberOfWarrantsExercised to label_NumberOfWarrantsExercised"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017WarrantsMember" xlink:label="October2017WarrantsMember" xlink:title="October2017WarrantsMember"/>
    <label xlink:type="resource" xlink:label="label_October2017WarrantsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2017WarrantsMember" xml:lang="en-US" id="label_October2017WarrantsMember">October 2017 Warrants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017WarrantsMember" xlink:to="label_October2017WarrantsMember" xlink:title="label: October2017WarrantsMember to label_October2017WarrantsMember"/>
    <label xlink:type="resource" xlink:label="label_October2017WarrantsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2017WarrantsMember" xml:lang="en-US" id="label_October2017WarrantsMember_2">October 2017 Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017WarrantsMember" xlink:to="label_October2017WarrantsMember_2" xlink:title="label: October2017WarrantsMember to label_October2017WarrantsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProceedsFromWarrantExercises" xlink:label="ProceedsFromWarrantExercises" xlink:title="ProceedsFromWarrantExercises"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromWarrantExercises" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromWarrantExercises" xml:lang="en-US" id="label_ProceedsFromWarrantExercises">Proceeds From Warrant Exercises</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromWarrantExercises" xlink:to="label_ProceedsFromWarrantExercises" xlink:title="label: ProceedsFromWarrantExercises to label_ProceedsFromWarrantExercises"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromWarrantExercises_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromWarrantExercises" xml:lang="en-US" id="label_ProceedsFromWarrantExercises_2">Proceeds from warrant exercises</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromWarrantExercises" xlink:to="label_ProceedsFromWarrantExercises_2" xlink:title="label: ProceedsFromWarrantExercises to label_ProceedsFromWarrantExercises"/>
    <label xlink:type="resource" xlink:label="label_ProceedsFromWarrantExercises_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromWarrantExercises" xml:lang="en-US" id="label_ProceedsFromWarrantExercises_3">The cash inflow associated with the amount received from holders exercising their stock warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromWarrantExercises" xlink:to="label_ProceedsFromWarrantExercises_3" xlink:title="label: ProceedsFromWarrantExercises to label_ProceedsFromWarrantExercises"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesSold" xlink:label="NumberOfSharesSold" xlink:title="NumberOfSharesSold"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesSold" xml:lang="en-US" id="label_NumberOfSharesSold">Number Of Shares Sold</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesSold" xlink:to="label_NumberOfSharesSold" xlink:title="label: NumberOfSharesSold to label_NumberOfSharesSold"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesSold_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesSold" xml:lang="en-US" id="label_NumberOfSharesSold_2">Number of shares sold</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesSold" xlink:to="label_NumberOfSharesSold_2" xlink:title="label: NumberOfSharesSold to label_NumberOfSharesSold"/>
    <label xlink:type="resource" xlink:label="label_NumberOfSharesSold_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesSold" xml:lang="en-US" id="label_NumberOfSharesSold_3">The number of shares sold in a stock transaction.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesSold" xlink:to="label_NumberOfSharesSold_3" xlink:title="label: NumberOfSharesSold to label_NumberOfSharesSold"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementMember" xlink:label="October2017SPAMember" xlink:title="October2017SPAMember"/>
    <label xlink:type="resource" xlink:label="label_October2017SPAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2017SPAMember" xml:lang="en-US" id="label_October2017SPAMember">October 2017 Private Placement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017SPAMember" xlink:to="label_October2017SPAMember" xlink:title="label: October2017SPAMember to label_October2017SPAMember"/>
    <label xlink:type="resource" xlink:label="label_October2017SPAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2017SPAMember" xml:lang="en-US" id="label_October2017SPAMember_2">October 2017 Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017SPAMember" xlink:to="label_October2017SPAMember_2" xlink:title="label: October2017SPAMember to label_October2017SPAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementMember" xlink:label="February2017PrivatePlacementMember" xlink:title="February2017PrivatePlacementMember"/>
    <label xlink:type="resource" xlink:label="label_February2017PrivatePlacementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2017PrivatePlacementMember" xml:lang="en-US" id="label_February2017PrivatePlacementMember">February 2017 Private Placement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017PrivatePlacementMember" xlink:to="label_February2017PrivatePlacementMember" xlink:title="label: February2017PrivatePlacementMember to label_February2017PrivatePlacementMember"/>
    <label xlink:type="resource" xlink:label="label_February2017PrivatePlacementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2017PrivatePlacementMember" xml:lang="en-US" id="label_February2017PrivatePlacementMember_2">February 2017 Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017PrivatePlacementMember" xlink:to="label_February2017PrivatePlacementMember_2" xlink:title="label: February2017PrivatePlacementMember to label_February2017PrivatePlacementMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsMember" xlink:label="LaterThanThreeYearsMember" xlink:title="LaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsMember">Later than three years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsMember" xlink:to="label_LaterThanThreeYearsMember" xlink:title="label: LaterThanThreeYearsMember to label_LaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanThreeYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsMember_2">Later than three years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsMember" xlink:to="label_LaterThanThreeYearsMember_2" xlink:title="label: LaterThanThreeYearsMember to label_LaterThanThreeYearsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LaterThanTwoYearsMember" xlink:label="LaterThanTwoYearsMember" xlink:title="LaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanTwoYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsMember">Later Than Two Years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsMember" xlink:to="label_LaterThanTwoYearsMember" xlink:title="label: LaterThanTwoYearsMember to label_LaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:label="label_LaterThanTwoYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsMember_2">Later than two years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsMember" xlink:to="label_LaterThanTwoYearsMember_2" xlink:title="label: LaterThanTwoYearsMember to label_LaterThanTwoYearsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferralFeePercentage" xlink:label="DeferralFeePercentage" xlink:title="DeferralFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_DeferralFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferralFeePercentage" xml:lang="en-US" id="label_DeferralFeePercentage">Deferral Fee Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferralFeePercentage" xlink:to="label_DeferralFeePercentage" xlink:title="label: DeferralFeePercentage to label_DeferralFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_DeferralFeePercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferralFeePercentage" xml:lang="en-US" id="label_DeferralFeePercentage_2">Deferral fee, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferralFeePercentage" xlink:to="label_DeferralFeePercentage_2" xlink:title="label: DeferralFeePercentage to label_DeferralFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_DeferralFeePercentage_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferralFeePercentage" xml:lang="en-US" id="label_DeferralFeePercentage_3">The deferral fee per annum, as a percentage of the additional amounts deferred.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferralFeePercentage" xlink:to="label_DeferralFeePercentage_3" xlink:title="label: DeferralFeePercentage to label_DeferralFeePercentage"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LoanPrincipalAmountDeferred" xlink:label="LoanPrincipalAmountDeferred" xlink:title="LoanPrincipalAmountDeferred"/>
    <label xlink:type="resource" xlink:label="label_LoanPrincipalAmountDeferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanPrincipalAmountDeferred" xml:lang="en-US" id="label_LoanPrincipalAmountDeferred">Loan Principal Amount Deferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanPrincipalAmountDeferred" xlink:to="label_LoanPrincipalAmountDeferred" xlink:title="label: LoanPrincipalAmountDeferred to label_LoanPrincipalAmountDeferred"/>
    <label xlink:type="resource" xlink:label="label_LoanPrincipalAmountDeferred_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanPrincipalAmountDeferred" xml:lang="en-US" id="label_LoanPrincipalAmountDeferred_2">Amount deferred to the last scheduled repayment date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanPrincipalAmountDeferred" xlink:to="label_LoanPrincipalAmountDeferred_2" xlink:title="label: LoanPrincipalAmountDeferred to label_LoanPrincipalAmountDeferred"/>
    <label xlink:type="resource" xlink:label="label_LoanPrincipalAmountDeferred_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanPrincipalAmountDeferred" xml:lang="en-US" id="label_LoanPrincipalAmountDeferred_3">The loan principal amount deferred to the last scheduled repayment date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanPrincipalAmountDeferred" xlink:to="label_LoanPrincipalAmountDeferred_3" xlink:title="label: LoanPrincipalAmountDeferred to label_LoanPrincipalAmountDeferred"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_WarrantsExpense" xlink:label="WarrantsExpense" xlink:title="WarrantsExpense"/>
    <label xlink:type="resource" xlink:label="label_WarrantsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WarrantsExpense" xml:lang="en-US" id="label_WarrantsExpense">Warrants Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsExpense" xlink:to="label_WarrantsExpense" xlink:title="label: WarrantsExpense to label_WarrantsExpense"/>
    <label xlink:type="resource" xlink:label="label_WarrantsExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WarrantsExpense" xml:lang="en-US" id="label_WarrantsExpense_2">Warrants expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsExpense" xlink:to="label_WarrantsExpense_2" xlink:title="label: WarrantsExpense to label_WarrantsExpense"/>
    <label xlink:type="resource" xlink:label="label_WarrantsExpense_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WarrantsExpense" xml:lang="en-US" id="label_WarrantsExpense_3">The expense related to the warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarrantsExpense" xlink:to="label_WarrantsExpense_3" xlink:title="label: WarrantsExpense to label_WarrantsExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BackEndFeePercentage" xlink:label="BackEndFeePercentage" xlink:title="BackEndFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_BackEndFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BackEndFeePercentage" xml:lang="en-US" id="label_BackEndFeePercentage">Back End Fee Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BackEndFeePercentage" xlink:to="label_BackEndFeePercentage" xlink:title="label: BackEndFeePercentage to label_BackEndFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_BackEndFeePercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BackEndFeePercentage" xml:lang="en-US" id="label_BackEndFeePercentage_2">Back-end fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BackEndFeePercentage" xlink:to="label_BackEndFeePercentage_2" xlink:title="label: BackEndFeePercentage to label_BackEndFeePercentage"/>
    <label xlink:type="resource" xlink:label="label_BackEndFeePercentage_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BackEndFeePercentage" xml:lang="en-US" id="label_BackEndFeePercentage_3">Back-end fee calculated as a percentage per annum of the outstanding principal amount of the loan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BackEndFeePercentage" xlink:to="label_BackEndFeePercentage_3" xlink:title="label: BackEndFeePercentage to label_BackEndFeePercentage"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAndDVBBankMember" xlink:label="HSHNordbankAndDVBBankMember" xlink:title="HSHNordbankAndDVBBankMember"/>
    <label xlink:type="resource" xlink:label="label_HSHNordbankAndDVBBankMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HSHNordbankAndDVBBankMember" xml:lang="en-US" id="label_HSHNordbankAndDVBBankMember">HSH Nordbank And DVB Bank [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HSHNordbankAndDVBBankMember" xlink:to="label_HSHNordbankAndDVBBankMember" xlink:title="label: HSHNordbankAndDVBBankMember to label_HSHNordbankAndDVBBankMember"/>
    <label xlink:type="resource" xlink:label="label_HSHNordbankAndDVBBankMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HSHNordbankAndDVBBankMember" xml:lang="en-US" id="label_HSHNordbankAndDVBBankMember_2">HSH Nordbank AG and DVB Bank SE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HSHNordbankAndDVBBankMember" xlink:to="label_HSHNordbankAndDVBBankMember_2" xlink:title="label: HSHNordbankAndDVBBankMember to label_HSHNordbankAndDVBBankMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <label xlink:type="resource" xlink:label="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xml:lang="en-US" id="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares">Dilutive effect of share options on number of ordinary shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="label: DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares to label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <label xlink:type="resource" xlink:label="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xml:lang="en-US" id="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_2">Dilutive effect of warrants on number of ordinary shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_2" xlink:title="label: DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares to label_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants">Difference Between Market Adjusted Net Worth And Amount Required By Loan Agreement Covenants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="label: DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_2">The difference between the company's market adjusted net worth and the required amount by loan agreement covenants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_2" xlink:title="label: DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_3">Difference between the company's market adjusted net worth and initial requirement by loan agreement covenants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants_3" xlink:title="label: DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants">Difference Between Cash And Cash Equivalents And Amount Required By Loan Agreement Covenants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="label: DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_2">The difference between the company's cash and cash equivalents and the required amount by loan agreement covenants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_2" xlink:title="label: DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <label xlink:type="resource" xlink:label="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xml:lang="en-US" id="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_3">Difference between the company's cash and cash equivalents and initial requirement by loan agreement covenants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:to="label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants_3" xlink:title="label: DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants to label_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="NonadjustingEventsAfterReportingPeriodAxis" xlink:title="NonadjustingEventsAfterReportingPeriodAxis"/>
    <label xlink:type="resource" xlink:label="label_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonadjustingEventsAfterReportingPeriodAxis" xml:lang="en-US" id="label_NonadjustingEventsAfterReportingPeriodAxis">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsAfterReportingPeriodAxis" xlink:to="label_NonadjustingEventsAfterReportingPeriodAxis" xlink:title="label: NonadjustingEventsAfterReportingPeriodAxis to label_NonadjustingEventsAfterReportingPeriodAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="NonadjustingEventsMember" xlink:title="NonadjustingEventsMember"/>
    <label xlink:type="resource" xlink:label="label_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonadjustingEventsMember" xml:lang="en-US" id="label_NonadjustingEventsMember">Non-adjusting events after reporting period [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsMember" xlink:to="label_NonadjustingEventsMember" xlink:title="label: NonadjustingEventsMember to label_NonadjustingEventsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PotentialOrdinaryShareTransactionsMember" xlink:label="PotentialOrdinaryShareTransactionsMember" xlink:title="PotentialOrdinaryShareTransactionsMember"/>
    <label xlink:type="resource" xlink:label="label_PotentialOrdinaryShareTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PotentialOrdinaryShareTransactionsMember" xml:lang="en-US" id="label_PotentialOrdinaryShareTransactionsMember">Potential ordinary share transactions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialOrdinaryShareTransactionsMember" xlink:to="label_PotentialOrdinaryShareTransactionsMember" xlink:title="label: PotentialOrdinaryShareTransactionsMember to label_PotentialOrdinaryShareTransactionsMember"/>
    <label xlink:type="resource" xlink:label="label_PotentialOrdinaryShareTransactionsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PotentialOrdinaryShareTransactionsMember" xml:lang="en-US" id="label_PotentialOrdinaryShareTransactionsMember_2">Potential ordinary share transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialOrdinaryShareTransactionsMember" xlink:to="label_PotentialOrdinaryShareTransactionsMember_2" xlink:title="label: PotentialOrdinaryShareTransactionsMember to label_PotentialOrdinaryShareTransactionsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems">Disclosure of non-adjusting events after reporting period [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="label: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable">Disclosure of non-adjusting events after reporting period [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="label: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory">Disclosure of subsidiaries [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory to label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_2">Basis of presentation and general information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_2" xlink:title="label: DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory to label_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCashAndBankBalancesExplanatory" xlink:label="DisclosureOfCashAndBankBalancesExplanatory" xlink:title="DisclosureOfCashAndBankBalancesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCashAndBankBalancesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCashAndBankBalancesExplanatory" xml:lang="en-US" id="label_DisclosureOfCashAndBankBalancesExplanatory">Disclosure Of Cash And Bank Balances At Central Banks Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCashAndBankBalancesExplanatory" xlink:to="label_DisclosureOfCashAndBankBalancesExplanatory" xlink:title="label: DisclosureOfCashAndBankBalancesExplanatory to label_DisclosureOfCashAndBankBalancesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCashAndBankBalancesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCashAndBankBalancesExplanatory" xml:lang="en-US" id="label_DisclosureOfCashAndBankBalancesExplanatory_2">Cash and cash equivalents and Restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCashAndBankBalancesExplanatory" xlink:to="label_DisclosureOfCashAndBankBalancesExplanatory_2" xlink:title="label: DisclosureOfCashAndBankBalancesExplanatory to label_DisclosureOfCashAndBankBalancesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCashAndBankBalancesExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCashAndBankBalancesExplanatory" xml:lang="en-US" id="label_DisclosureOfCashAndBankBalancesExplanatory_3">The disclosure for cash on hand and at banks.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCashAndBankBalancesExplanatory" xlink:to="label_DisclosureOfCashAndBankBalancesExplanatory_3" xlink:title="label: DisclosureOfCashAndBankBalancesExplanatory to label_DisclosureOfCashAndBankBalancesExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCompensationOfNonExecutiveDirectors" xlink:label="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:title="DisclosureOfCompensationOfNonExecutiveDirectors"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfNonExecutiveDirectors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCompensationOfNonExecutiveDirectors" xml:lang="en-US" id="label_DisclosureOfCompensationOfNonExecutiveDirectors">Disclosure Of Compensation Of Non Executive Directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:to="label_DisclosureOfCompensationOfNonExecutiveDirectors" xlink:title="label: DisclosureOfCompensationOfNonExecutiveDirectors to label_DisclosureOfCompensationOfNonExecutiveDirectors"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfNonExecutiveDirectors_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCompensationOfNonExecutiveDirectors" xml:lang="en-US" id="label_DisclosureOfCompensationOfNonExecutiveDirectors_2">Compensation of non-executive directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:to="label_DisclosureOfCompensationOfNonExecutiveDirectors_2" xlink:title="label: DisclosureOfCompensationOfNonExecutiveDirectors to label_DisclosureOfCompensationOfNonExecutiveDirectors"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfNonExecutiveDirectors_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCompensationOfNonExecutiveDirectors" xml:lang="en-US" id="label_DisclosureOfCompensationOfNonExecutiveDirectors_3">The entire disclosure for compensation of non-executive directors.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:to="label_DisclosureOfCompensationOfNonExecutiveDirectors_3" xlink:title="label: DisclosureOfCompensationOfNonExecutiveDirectors to label_DisclosureOfCompensationOfNonExecutiveDirectors"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCompensationOfExecutiveDirector" xlink:label="DisclosureOfCompensationOfExecutiveDirector" xlink:title="DisclosureOfCompensationOfExecutiveDirector"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfExecutiveDirector" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCompensationOfExecutiveDirector" xml:lang="en-US" id="label_DisclosureOfCompensationOfExecutiveDirector">Disclosure Of Compensation Of Executive Director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfExecutiveDirector" xlink:to="label_DisclosureOfCompensationOfExecutiveDirector" xlink:title="label: DisclosureOfCompensationOfExecutiveDirector to label_DisclosureOfCompensationOfExecutiveDirector"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfExecutiveDirector_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCompensationOfExecutiveDirector" xml:lang="en-US" id="label_DisclosureOfCompensationOfExecutiveDirector_2">Compensation of executive director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfExecutiveDirector" xlink:to="label_DisclosureOfCompensationOfExecutiveDirector_2" xlink:title="label: DisclosureOfCompensationOfExecutiveDirector to label_DisclosureOfCompensationOfExecutiveDirector"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompensationOfExecutiveDirector_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCompensationOfExecutiveDirector" xml:lang="en-US" id="label_DisclosureOfCompensationOfExecutiveDirector_3">The entire disclosure for compensation of executive director.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationOfExecutiveDirector" xlink:to="label_DisclosureOfCompensationOfExecutiveDirector_3" xlink:title="label: DisclosureOfCompensationOfExecutiveDirector to label_DisclosureOfCompensationOfExecutiveDirector"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory">Disclosure Of Property Plant And Equipment Consolidated Statement Of Financial Position Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_2">Vessels, net - Consolidated statement of financial position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_3">The disclosure for the amounts of property, plant and equipment in the consolidated statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory">Disclosure Of Property Plant And Equipment Consolidated Statement Of Comprehensive Income Loss Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_2">Vessels, net - Consolidated statement of comprehensive loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_2" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_3">The disclosure for the amounts of property, plant and equipment in the consolidated statement of comprehensive income / (loss).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory_3" xlink:title="label: DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory to label_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfImpairmentOfAssetsExplanatory" xlink:label="DisclosureOfImpairmentOfAssetsExplanatory" xlink:title="DisclosureOfImpairmentOfAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfImpairmentOfAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfImpairmentOfAssetsExplanatory" xml:lang="en-US" id="label_DisclosureOfImpairmentOfAssetsExplanatory">Disclosure of impairment of assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfImpairmentOfAssetsExplanatory" xlink:to="label_DisclosureOfImpairmentOfAssetsExplanatory" xlink:title="label: DisclosureOfImpairmentOfAssetsExplanatory to label_DisclosureOfImpairmentOfAssetsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfImpairmentOfAssetsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfImpairmentOfAssetsExplanatory" xml:lang="en-US" id="label_DisclosureOfImpairmentOfAssetsExplanatory_2">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfImpairmentOfAssetsExplanatory" xlink:to="label_DisclosureOfImpairmentOfAssetsExplanatory_2" xlink:title="label: DisclosureOfImpairmentOfAssetsExplanatory to label_DisclosureOfImpairmentOfAssetsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory">Disclosure Of Inventories Consolidated Statement Of Financial Position Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="label: DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_2">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:title="label: DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_3">The disclosure for the amounts of inventories in the consolidated statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:title="label: DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory">Disclosure Of Prepayments And Other Assets Consolidated Statement Of Financial Position Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="label: DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_2">Prepayments and other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:title="label: DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_3">The disclosure for the amounts of prepayments and other assets in the consolidated statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:title="label: DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory">Disclosure Of Accrued Expenses And Other Liabilities Consolidated Statement Of Financial Position Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="label: DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_2">Accrued liabilities and other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_2" xlink:title="label: DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xml:lang="en-US" id="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_3">The disclosure for the amounts of accrued liabilities and other payables in the consolidated statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:to="label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory_3" xlink:title="label: DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory to label_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:label="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:title="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xml:lang="en-US" id="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory">Disclosure of share capital, reserves and other equity interest [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:title="label: DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory to label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xml:lang="en-US" id="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_2">Share Capital and Share Premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_2" xlink:title="label: DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory to label_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCommonSharesExplanatory" xlink:label="DisclosureOfCommonSharesExplanatory" xlink:title="DisclosureOfCommonSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCommonSharesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCommonSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfCommonSharesExplanatory">Disclosure Of Common Shares Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCommonSharesExplanatory" xlink:to="label_DisclosureOfCommonSharesExplanatory" xlink:title="label: DisclosureOfCommonSharesExplanatory to label_DisclosureOfCommonSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCommonSharesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCommonSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfCommonSharesExplanatory_2">Common shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCommonSharesExplanatory" xlink:to="label_DisclosureOfCommonSharesExplanatory_2" xlink:title="label: DisclosureOfCommonSharesExplanatory to label_DisclosureOfCommonSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCommonSharesExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCommonSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfCommonSharesExplanatory_3">The disclosure of common shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCommonSharesExplanatory" xlink:to="label_DisclosureOfCommonSharesExplanatory_3" xlink:title="label: DisclosureOfCommonSharesExplanatory to label_DisclosureOfCommonSharesExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPreferredSharesExplanatory" xlink:label="DisclosureOfPreferredSharesExplanatory" xlink:title="DisclosureOfPreferredSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPreferredSharesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPreferredSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfPreferredSharesExplanatory">Disclosure Of Preferred Shares Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPreferredSharesExplanatory" xlink:to="label_DisclosureOfPreferredSharesExplanatory" xlink:title="label: DisclosureOfPreferredSharesExplanatory to label_DisclosureOfPreferredSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPreferredSharesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPreferredSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfPreferredSharesExplanatory_2">Series A Preferred Shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPreferredSharesExplanatory" xlink:to="label_DisclosureOfPreferredSharesExplanatory_2" xlink:title="label: DisclosureOfPreferredSharesExplanatory to label_DisclosureOfPreferredSharesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfPreferredSharesExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfPreferredSharesExplanatory" xml:lang="en-US" id="label_DisclosureOfPreferredSharesExplanatory_3">The disclosure of preferred shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPreferredSharesExplanatory" xlink:to="label_DisclosureOfPreferredSharesExplanatory_3" xlink:title="label: DisclosureOfPreferredSharesExplanatory to label_DisclosureOfPreferredSharesExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfEarningsPerShareTableExplanatory" xlink:label="DisclosureOfEarningsPerShareTableExplanatory" xlink:title="DisclosureOfEarningsPerShareTableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEarningsPerShareTableExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEarningsPerShareTableExplanatory" xml:lang="en-US" id="label_DisclosureOfEarningsPerShareTableExplanatory">Disclosure Of Earnings Per Share Table Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEarningsPerShareTableExplanatory" xlink:to="label_DisclosureOfEarningsPerShareTableExplanatory" xlink:title="label: DisclosureOfEarningsPerShareTableExplanatory to label_DisclosureOfEarningsPerShareTableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEarningsPerShareTableExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfEarningsPerShareTableExplanatory" xml:lang="en-US" id="label_DisclosureOfEarningsPerShareTableExplanatory_2">Loss per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEarningsPerShareTableExplanatory" xlink:to="label_DisclosureOfEarningsPerShareTableExplanatory_2" xlink:title="label: DisclosureOfEarningsPerShareTableExplanatory to label_DisclosureOfEarningsPerShareTableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfEarningsPerShareTableExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfEarningsPerShareTableExplanatory" xml:lang="en-US" id="label_DisclosureOfEarningsPerShareTableExplanatory_3">The disclosure for earnings per share.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEarningsPerShareTableExplanatory" xlink:to="label_DisclosureOfEarningsPerShareTableExplanatory_3" xlink:title="label: DisclosureOfEarningsPerShareTableExplanatory to label_DisclosureOfEarningsPerShareTableExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:label="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:title="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xml:lang="en-US" id="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition">Disclosure Of Borrowings Consolidated Statement Of Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:to="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:title="label: DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition to label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xml:lang="en-US" id="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_2">Long-Term Debt, net - Consolidated statement of financial position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:to="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_2" xlink:title="label: DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition to label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xml:lang="en-US" id="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_3">The disclosure for the amounts of long-term debt in the consolidated statement of financial position.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:to="label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition_3" xlink:title="label: DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition to label_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:label="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:title="DisclosureOfLongTermDebtAnnualPrincipalPayments"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfLongTermDebtAnnualPrincipalPayments" xml:lang="en-US" id="label_DisclosureOfLongTermDebtAnnualPrincipalPayments">Disclosure Of Long Term Debt Annual Principal Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:to="label_DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:title="label: DisclosureOfLongTermDebtAnnualPrincipalPayments to label_DisclosureOfLongTermDebtAnnualPrincipalPayments"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfLongTermDebtAnnualPrincipalPayments" xml:lang="en-US" id="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_2">Long-Term Debt, net - Annual loan principal paymetns</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:to="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_2" xlink:title="label: DisclosureOfLongTermDebtAnnualPrincipalPayments to label_DisclosureOfLongTermDebtAnnualPrincipalPayments"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfLongTermDebtAnnualPrincipalPayments" xml:lang="en-US" id="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_3">The disclosure of annual loan principal payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:to="label_DisclosureOfLongTermDebtAnnualPrincipalPayments_3" xlink:title="label: DisclosureOfLongTermDebtAnnualPrincipalPayments to label_DisclosureOfLongTermDebtAnnualPrincipalPayments"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfShareBasedPayment" xlink:label="DisclosureOfShareBasedPaymentTable" xlink:title="DisclosureOfShareBasedPaymentTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfShareBasedPaymentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfShareBasedPaymentTable" xml:lang="en-US" id="label_DisclosureOfShareBasedPaymentTable">Disclosure Of Share Based Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfShareBasedPaymentTable" xlink:to="label_DisclosureOfShareBasedPaymentTable" xlink:title="label: DisclosureOfShareBasedPaymentTable to label_DisclosureOfShareBasedPaymentTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfShareBasedPaymentTable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfShareBasedPaymentTable" xml:lang="en-US" id="label_DisclosureOfShareBasedPaymentTable_2">Share Based Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfShareBasedPaymentTable" xlink:to="label_DisclosureOfShareBasedPaymentTable_2" xlink:title="label: DisclosureOfShareBasedPaymentTable to label_DisclosureOfShareBasedPaymentTable"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfShareBasedPaymentTable_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfShareBasedPaymentTable" xml:lang="en-US" id="label_DisclosureOfShareBasedPaymentTable_3">The disclosure of share based payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfShareBasedPaymentTable" xlink:to="label_DisclosureOfShareBasedPaymentTable_3" xlink:title="label: DisclosureOfShareBasedPaymentTable to label_DisclosureOfShareBasedPaymentTable"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfVoyageAndVesselOperatingExpenses" xlink:label="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:title="DisclosureOfVoayageAndVesselOperatingExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfVoayageAndVesselOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfVoayageAndVesselOperatingExpenses" xml:lang="en-US" id="label_DisclosureOfVoayageAndVesselOperatingExpenses">Disclosure Of Voyage And Vessel Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:to="label_DisclosureOfVoayageAndVesselOperatingExpenses" xlink:title="label: DisclosureOfVoayageAndVesselOperatingExpenses to label_DisclosureOfVoayageAndVesselOperatingExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfVoyageAndVesselOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfVoyageAndVesselOperatingExpenses" xml:lang="en-US" id="label_DisclosureOfVoyageAndVesselOperatingExpenses">Voyage Expenses and Vessel Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:to="label_DisclosureOfVoyageAndVesselOperatingExpenses" xlink:title="label: DisclosureOfVoyageAndVesselOperatingExpenses to label_DisclosureOfVoyageAndVesselOperatingExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfVoyageAndVesselOperatingExpenses_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfVoyageAndVesselOperatingExpenses" xml:lang="en-US" id="label_DisclosureOfVoyageAndVesselOperatingExpenses_2">The disclosure for voayage expenses and vessel operating expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:to="label_DisclosureOfVoyageAndVesselOperatingExpenses_2" xlink:title="label: DisclosureOfVoyageAndVesselOperatingExpenses to label_DisclosureOfVoyageAndVesselOperatingExpenses"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfAdministrativeExpenses" xlink:label="DisclosureOfAdministrativeExpenses" xlink:title="DisclosureOfAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAdministrativeExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAdministrativeExpenses" xml:lang="en-US" id="label_DisclosureOfAdministrativeExpenses">Disclosure Of Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAdministrativeExpenses" xlink:to="label_DisclosureOfAdministrativeExpenses" xlink:title="label: DisclosureOfAdministrativeExpenses to label_DisclosureOfAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAdministrativeExpenses_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfAdministrativeExpenses" xml:lang="en-US" id="label_DisclosureOfAdministrativeExpenses_2">Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAdministrativeExpenses" xlink:to="label_DisclosureOfAdministrativeExpenses_2" xlink:title="label: DisclosureOfAdministrativeExpenses to label_DisclosureOfAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfAdministrativeExpenses_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfAdministrativeExpenses" xml:lang="en-US" id="label_DisclosureOfAdministrativeExpenses_3">The disclosure of administrative expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAdministrativeExpenses" xlink:to="label_DisclosureOfAdministrativeExpenses_3" xlink:title="label: DisclosureOfAdministrativeExpenses to label_DisclosureOfAdministrativeExpenses"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:label="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:title="DisclosureOfInterestExpenseAndFinanceCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory">Disclosure Of Interest Expense And Finance Costs Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:to="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:title="label: DisclosureOfInterestExpenseAndFinanceCostsExplanatory to label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_2">Interest Expense and Finance Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:to="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_2" xlink:title="label: DisclosureOfInterestExpenseAndFinanceCostsExplanatory to label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_3">The disclosure of interest expense and finance costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:to="label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory_3" xlink:title="label: DisclosureOfInterestExpenseAndFinanceCostsExplanatory to label_DisclosureOfInterestExpenseAndFinanceCostsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfDividends" xlink:label="DisclosureOfDividendsExplanatory_2" xlink:title="DisclosureOfDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDividendsExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDividendsExplanatory" xml:lang="en-US" id="label_DisclosureOfDividendsExplanatory_3">Disclosure Of Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDividendsExplanatory_2" xlink:to="label_DisclosureOfDividendsExplanatory_3" xlink:title="label: DisclosureOfDividendsExplanatory to label_DisclosureOfDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDividendsExplanatory_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDividendsExplanatory" xml:lang="en-US" id="label_DisclosureOfDividendsExplanatory_4">Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDividendsExplanatory_2" xlink:to="label_DisclosureOfDividendsExplanatory_4" xlink:title="label: DisclosureOfDividendsExplanatory to label_DisclosureOfDividendsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfDividendsExplanatory_5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfDividendsExplanatory" xml:lang="en-US" id="label_DisclosureOfDividendsExplanatory_5">The disclosure of dividends.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDividendsExplanatory_2" xlink:to="label_DisclosureOfDividendsExplanatory_5" xlink:title="label: DisclosureOfDividendsExplanatory to label_DisclosureOfDividendsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:label="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:title="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory">Disclosure Of Future Minimum Lease Revenues Receivable Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:title="label: DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory to label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_2">Future minimum lease revenues receivable under non-cancellable operating leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_2" xlink:title="label: DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory to label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_3">The disclosure of future minimum lease revenues receivable under non-cancellable operating leases.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory_3" xlink:title="label: DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory to label_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:label="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:title="DisclosureOfFutureMinimumLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory">Disclosure Of Future Minimum Lease Payments Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:title="label: DisclosureOfFutureMinimumLeasePaymentsExplanatory to label_DisclosureOfFutureMinimumLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_2">Future minimum lease payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_2" xlink:title="label: DisclosureOfFutureMinimumLeasePaymentsExplanatory to label_DisclosureOfFutureMinimumLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xml:lang="en-US" id="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_3">The disclosure of future minimum lease payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:to="label_DisclosureOfFutureMinimumLeasePaymentsExplanatory_3" xlink:title="label: DisclosureOfFutureMinimumLeasePaymentsExplanatory to label_DisclosureOfFutureMinimumLeasePaymentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInterestRateRiskExplanatory" xlink:label="DisclosurOfInterestRateRiskExplanatory" xlink:title="DisclosurOfInterestRateRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosurOfInterestRateRiskExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosurOfInterestRateRiskExplanatory" xml:lang="en-US" id="label_DisclosurOfInterestRateRiskExplanatory">Disclosure Of Interest Rate Risk Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosurOfInterestRateRiskExplanatory" xlink:to="label_DisclosurOfInterestRateRiskExplanatory" xlink:title="label: DisclosurOfInterestRateRiskExplanatory to label_DisclosurOfInterestRateRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestRateRiskExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInterestRateRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestRateRiskExplanatory">Interest rate risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosurOfInterestRateRiskExplanatory" xlink:to="label_DisclosureOfInterestRateRiskExplanatory" xlink:title="label: DisclosureOfInterestRateRiskExplanatory to label_DisclosureOfInterestRateRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfInterestRateRiskExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfInterestRateRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfInterestRateRiskExplanatory_2">The disclosure of interest rate risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosurOfInterestRateRiskExplanatory" xlink:to="label_DisclosureOfInterestRateRiskExplanatory_2" xlink:title="label: DisclosureOfInterestRateRiskExplanatory to label_DisclosureOfInterestRateRiskExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfForeignCurrencyRiskExplanatory" xlink:label="DisclosureOfForeignCurrencyRiskExplanatory" xlink:title="DisclosureOfForeignCurrencyRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRiskExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignCurrencyRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRiskExplanatory">Disclosure Of Foreign Currency Risk Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRiskExplanatory" xlink:to="label_DisclosureOfForeignCurrencyRiskExplanatory" xlink:title="label: DisclosureOfForeignCurrencyRiskExplanatory to label_DisclosureOfForeignCurrencyRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRiskExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignCurrencyRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRiskExplanatory_2">Foreign currency risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRiskExplanatory" xlink:to="label_DisclosureOfForeignCurrencyRiskExplanatory_2" xlink:title="label: DisclosureOfForeignCurrencyRiskExplanatory to label_DisclosureOfForeignCurrencyRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRiskExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignCurrencyRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRiskExplanatory_3">The disclosure of foreign currency risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRiskExplanatory" xlink:to="label_DisclosureOfForeignCurrencyRiskExplanatory_3" xlink:title="label: DisclosureOfForeignCurrencyRiskExplanatory to label_DisclosureOfForeignCurrencyRiskExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:label="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:title="DisclosureOfConcentrationOfCreditRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfConcentrationOfCreditRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfConcentrationOfCreditRiskExplanatory">Disclosure Of Concentration Of Credit Risk Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:to="label_DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:title="label: DisclosureOfConcentrationOfCreditRiskExplanatory to label_DisclosureOfConcentrationOfCreditRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfConcentrationOfCreditRiskExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfConcentrationOfCreditRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfConcentrationOfCreditRiskExplanatory_2">Concentration of credit risk table</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:to="label_DisclosureOfConcentrationOfCreditRiskExplanatory_2" xlink:title="label: DisclosureOfConcentrationOfCreditRiskExplanatory to label_DisclosureOfConcentrationOfCreditRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfConcentrationOfCreditRiskExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfConcentrationOfCreditRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfConcentrationOfCreditRiskExplanatory_3">The disclosure of concentration of credit risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:to="label_DisclosureOfConcentrationOfCreditRiskExplanatory_3" xlink:title="label: DisclosureOfConcentrationOfCreditRiskExplanatory to label_DisclosureOfConcentrationOfCreditRiskExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfLiquidityRisksExplanatory" xlink:label="DisclosureOfLiquidityRiskExplanatory" xlink:title="DisclosureOfLiquidityRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLiquidityRiskExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfLiquidityRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfLiquidityRiskExplanatory">Disclosure Of Liquidity Risk Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLiquidityRiskExplanatory" xlink:to="label_DisclosureOfLiquidityRiskExplanatory" xlink:title="label: DisclosureOfLiquidityRiskExplanatory to label_DisclosureOfLiquidityRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLiquidityRiskExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfLiquidityRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfLiquidityRiskExplanatory_2">Liquidity risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLiquidityRiskExplanatory" xlink:to="label_DisclosureOfLiquidityRiskExplanatory_2" xlink:title="label: DisclosureOfLiquidityRiskExplanatory to label_DisclosureOfLiquidityRiskExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfLiquidityRiskExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfLiquidityRiskExplanatory" xml:lang="en-US" id="label_DisclosureOfLiquidityRiskExplanatory_3">The disclosure of liquidity risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLiquidityRiskExplanatory" xlink:to="label_DisclosureOfLiquidityRiskExplanatory_3" xlink:title="label: DisclosureOfLiquidityRiskExplanatory to label_DisclosureOfLiquidityRiskExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCapitalManagementExplanatory" xlink:label="DisclosureOfCapitalManagementExplanatory" xlink:title="DisclosureOfCapitalManagementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCapitalManagementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCapitalManagementExplanatory" xml:lang="en-US" id="label_DisclosureOfCapitalManagementExplanatory">Disclosure Of Capital Management Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCapitalManagementExplanatory" xlink:to="label_DisclosureOfCapitalManagementExplanatory" xlink:title="label: DisclosureOfCapitalManagementExplanatory to label_DisclosureOfCapitalManagementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCapitalManagementExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCapitalManagementExplanatory" xml:lang="en-US" id="label_DisclosureOfCapitalManagementExplanatory_2">Capital management</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCapitalManagementExplanatory" xlink:to="label_DisclosureOfCapitalManagementExplanatory_2" xlink:title="label: DisclosureOfCapitalManagementExplanatory to label_DisclosureOfCapitalManagementExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCapitalManagementExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCapitalManagementExplanatory" xml:lang="en-US" id="label_DisclosureOfCapitalManagementExplanatory_3">The disclosure of capital management.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCapitalManagementExplanatory" xlink:to="label_DisclosureOfCapitalManagementExplanatory_3" xlink:title="label: DisclosureOfCapitalManagementExplanatory to label_DisclosureOfCapitalManagementExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFairValuesExplanatory" xlink:label="DisclosureOfFairValuesExplanatory" xlink:title="DisclosureOfFairValuesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValuesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValuesExplanatory" xml:lang="en-US" id="label_DisclosureOfFairValuesExplanatory">Disclosure Of Fair Values Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValuesExplanatory" xlink:to="label_DisclosureOfFairValuesExplanatory" xlink:title="label: DisclosureOfFairValuesExplanatory to label_DisclosureOfFairValuesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValuesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFairValuesExplanatory" xml:lang="en-US" id="label_DisclosureOfFairValuesExplanatory_2">Fair value measurement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValuesExplanatory" xlink:to="label_DisclosureOfFairValuesExplanatory_2" xlink:title="label: DisclosureOfFairValuesExplanatory to label_DisclosureOfFairValuesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFairValuesExplanatory_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfFairValuesExplanatory" xml:lang="en-US" id="label_DisclosureOfFairValuesExplanatory_3">The disclosure of fair values.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValuesExplanatory" xlink:to="label_DisclosureOfFairValuesExplanatory_3" xlink:title="label: DisclosureOfFairValuesExplanatory to label_DisclosureOfFairValuesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfManagingLiquidityRisk" xlink:label="DescriptionOfManagingLiquidityRisk" xlink:title="DescriptionOfManagingLiquidityRisk"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfManagingLiquidityRisk" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfManagingLiquidityRisk" xml:lang="en-US" id="label_DescriptionOfManagingLiquidityRisk">Disclosure of how entity manages liquidity risk [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfManagingLiquidityRisk" xlink:to="label_DescriptionOfManagingLiquidityRisk" xlink:title="label: DescriptionOfManagingLiquidityRisk to label_DescriptionOfManagingLiquidityRisk"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfManagingLiquidityRisk_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfManagingLiquidityRisk" xml:lang="en-US" id="label_DescriptionOfManagingLiquidityRisk_2">Liquidity risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfManagingLiquidityRisk" xlink:to="label_DescriptionOfManagingLiquidityRisk_2" xlink:title="label: DescriptionOfManagingLiquidityRisk to label_DescriptionOfManagingLiquidityRisk"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <label xlink:type="resource" xlink:label="label_EntitysTotalForRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForRelatedPartiesMember" xml:lang="en-US" id="label_EntitysTotalForRelatedPartiesMember">Entity's total for related parties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="label_EntitysTotalForRelatedPartiesMember" xlink:title="label: EntitysTotalForRelatedPartiesMember to label_EntitysTotalForRelatedPartiesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusMaritimeLtdMember" xlink:label="GlobusMaritimeLtdMember" xlink:title="GlobusMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusMaritimeLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GlobusMaritimeLtdMember" xml:lang="en-US" id="label_GlobusMaritimeLtdMember">Globus Maritime Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusMaritimeLtdMember" xlink:to="label_GlobusMaritimeLtdMember" xlink:title="label: GlobusMaritimeLtdMember to label_GlobusMaritimeLtdMember"/>
    <label xlink:type="resource" xlink:label="label_GlobusMaritimeLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GlobusMaritimeLtdMember" xml:lang="en-US" id="label_GlobusMaritimeLtdMember_2">(c) Globus Maritime Ltd.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GlobusMaritimeLtdMember" xlink:to="label_GlobusMaritimeLtdMember_2" xlink:title="label: GlobusMaritimeLtdMember to label_GlobusMaritimeLtdMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncLoanAgreementMember" xlink:label="FirmentShippingIncLoanAgreementMember" xlink:title="FirmentShippingIncLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentShippingIncLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirmentShippingIncLoanAgreementMember" xml:lang="en-US" id="label_FirmentShippingIncLoanAgreementMember">Firment Shipping Inc Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentShippingIncLoanAgreementMember" xlink:to="label_FirmentShippingIncLoanAgreementMember" xlink:title="label: FirmentShippingIncLoanAgreementMember to label_FirmentShippingIncLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentShippingIncLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirmentShippingIncLoanAgreementMember" xml:lang="en-US" id="label_FirmentShippingIncLoanAgreementMember_2">Firment Shipping Inc.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentShippingIncLoanAgreementMember" xlink:to="label_FirmentShippingIncLoanAgreementMember_2" xlink:title="label: FirmentShippingIncLoanAgreementMember to label_FirmentShippingIncLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementMember" xlink:label="HamburgCommercialBankAGLoanAgreementMember" xlink:title="HamburgCommercialBankAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_HamburgCommercialBankAGLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HamburgCommercialBankAGLoanAgreementMember" xml:lang="en-US" id="label_HamburgCommercialBankAGLoanAgreementMember">Hamburg Commercial Bank AG Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HamburgCommercialBankAGLoanAgreementMember" xlink:to="label_HamburgCommercialBankAGLoanAgreementMember" xlink:title="label: HamburgCommercialBankAGLoanAgreementMember to label_HamburgCommercialBankAGLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_HamburgCommercialBankAGLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HamburgCommercialBankAGLoanAgreementMember" xml:lang="en-US" id="label_HamburgCommercialBankAGLoanAgreementMember_2">Hamburg Commercial Bank AG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HamburgCommercialBankAGLoanAgreementMember" xlink:to="label_HamburgCommercialBankAGLoanAgreementMember_2" xlink:title="label: HamburgCommercialBankAGLoanAgreementMember to label_HamburgCommercialBankAGLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:label="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MacquarieBankInternationalLimitedLoanAgreementMember" xml:lang="en-US" id="label_MacquarieBankInternationalLimitedLoanAgreementMember">Macquarie Bank International Limited Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:to="label_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="label: MacquarieBankInternationalLimitedLoanAgreementMember to label_MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <label xlink:type="resource" xlink:label="label_MacquarieBankInternationalLimitedLoanAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MacquarieBankInternationalLimitedLoanAgreementMember" xml:lang="en-US" id="label_MacquarieBankInternationalLimitedLoanAgreementMember_2">Macquarie Bank International Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:to="label_MacquarieBankInternationalLimitedLoanAgreementMember_2" xlink:title="label: MacquarieBankInternationalLimitedLoanAgreementMember to label_MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceAMember" xlink:label="AdvanceAMember" xlink:title="AdvanceAMember"/>
    <label xlink:type="resource" xlink:label="label_AdvanceAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdvanceAMember" xml:lang="en-US" id="label_AdvanceAMember">Advance A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceAMember" xlink:to="label_AdvanceAMember" xlink:title="label: AdvanceAMember to label_AdvanceAMember"/>
    <label xlink:type="resource" xlink:label="label_AdvanceAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdvanceAMember" xml:lang="en-US" id="label_AdvanceAMember_2">Advance (A)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceAMember" xlink:to="label_AdvanceAMember_2" xlink:title="label: AdvanceAMember to label_AdvanceAMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceBMember" xlink:label="AdvanceBMember" xlink:title="AdvanceBMember"/>
    <label xlink:type="resource" xlink:label="label_AdvanceBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdvanceBMember" xml:lang="en-US" id="label_AdvanceBMember">Advance B [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceBMember" xlink:to="label_AdvanceBMember" xlink:title="label: AdvanceBMember to label_AdvanceBMember"/>
    <label xlink:type="resource" xlink:label="label_AdvanceBMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdvanceBMember" xml:lang="en-US" id="label_AdvanceBMember_2">Advance (B)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceBMember" xlink:to="label_AdvanceBMember_2" xlink:title="label: AdvanceBMember to label_AdvanceBMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankAndHamburgCommercialBankAGMember" xlink:label="MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="MacquarieBankAndHamburgCommercialBankAGMember"/>
    <label xlink:type="resource" xlink:label="label_MacquarieBankAndHamburgCommercialBankAGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MacquarieBankAndHamburgCommercialBankAGMember" xml:lang="en-US" id="label_MacquarieBankAndHamburgCommercialBankAGMember">Macquarie Bank And Hamburg Commercial Bank AG [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MacquarieBankAndHamburgCommercialBankAGMember" xlink:to="label_MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="label: MacquarieBankAndHamburgCommercialBankAGMember to label_MacquarieBankAndHamburgCommercialBankAGMember"/>
    <label xlink:type="resource" xlink:label="label_MacquarieBankAndHamburgCommercialBankAGMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MacquarieBankAndHamburgCommercialBankAGMember" xml:lang="en-US" id="label_MacquarieBankAndHamburgCommercialBankAGMember_2">Macquarie Bank and Hamburg Commercial Bank AG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MacquarieBankAndHamburgCommercialBankAGMember" xlink:to="label_MacquarieBankAndHamburgCommercialBankAGMember_2" xlink:title="label: MacquarieBankAndHamburgCommercialBankAGMember to label_MacquarieBankAndHamburgCommercialBankAGMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageRevenues" xlink:label="IncreaseDecreaseVoyageRevenues" xlink:title="IncreaseDecreaseVoyageRevenues"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageRevenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseVoyageRevenues" xml:lang="en-US" id="label_IncreaseDecreaseVoyageRevenues">Increase Decrease Voyage Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageRevenues" xlink:to="label_IncreaseDecreaseVoyageRevenues" xlink:title="label: IncreaseDecreaseVoyageRevenues to label_IncreaseDecreaseVoyageRevenues"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageRevenues_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseVoyageRevenues" xml:lang="en-US" id="label_IncreaseDecreaseVoyageRevenues_2">Increase/ decrease in voyage revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageRevenues" xlink:to="label_IncreaseDecreaseVoyageRevenues_2" xlink:title="label: IncreaseDecreaseVoyageRevenues to label_IncreaseDecreaseVoyageRevenues"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageRevenues_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseVoyageRevenues" xml:lang="en-US" id="label_IncreaseDecreaseVoyageRevenues_3">The increase (decrease) during the reporting period in revenues arising from rendering of services.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageRevenues" xlink:to="label_IncreaseDecreaseVoyageRevenues_3" xlink:title="label: IncreaseDecreaseVoyageRevenues to label_IncreaseDecreaseVoyageRevenues"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageExpenses" xlink:label="IncreaseDecreaseVoyageExpenses" xlink:title="IncreaseDecreaseVoyageExpenses"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseVoyageExpenses" xml:lang="en-US" id="label_IncreaseDecreaseVoyageExpenses">Increase Decrease Voyage Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageExpenses" xlink:to="label_IncreaseDecreaseVoyageExpenses" xlink:title="label: IncreaseDecreaseVoyageExpenses to label_IncreaseDecreaseVoyageExpenses"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageExpenses_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseVoyageExpenses" xml:lang="en-US" id="label_IncreaseDecreaseVoyageExpenses_2">Increase/ decrease in voyage expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageExpenses" xlink:to="label_IncreaseDecreaseVoyageExpenses_2" xlink:title="label: IncreaseDecreaseVoyageExpenses to label_IncreaseDecreaseVoyageExpenses"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageExpenses_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseVoyageExpenses" xml:lang="en-US" id="label_IncreaseDecreaseVoyageExpenses_3">The increase (decrease) during the reporting period in expenses arising from rendering of services.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageExpenses" xlink:to="label_IncreaseDecreaseVoyageExpenses_3" xlink:title="label: IncreaseDecreaseVoyageExpenses to label_IncreaseDecreaseVoyageExpenses"/>
    <label xlink:type="resource" xlink:label="label_IncreaseDecreaseVoyageExpenses_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseVoyageExpenses" xml:lang="en-US" id="label_IncreaseDecreaseVoyageExpenses_4">Voyage expenses decreased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseVoyageExpenses" xlink:to="label_IncreaseDecreaseVoyageExpenses_4" xlink:title="label: IncreaseDecreaseVoyageExpenses to label_IncreaseDecreaseVoyageExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives">Gains (losses) on change in fair value of derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="label: GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives"/>
    <label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives_2">Loss on derivative financial instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives_2" xlink:title="label: GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="CurrentDerivativeFinancialLiabilities" xlink:title="CurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_CurrentDerivativeFinancialLiabilities">Current derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialLiabilities" xlink:to="label_CurrentDerivativeFinancialLiabilities" xlink:title="label: CurrentDerivativeFinancialLiabilities to label_CurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_CurrentDerivativeFinancialLiabilities_2">Fair value of derivative financial instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialLiabilities" xlink:to="label_CurrentDerivativeFinancialLiabilities_2" xlink:title="label: CurrentDerivativeFinancialLiabilities to label_CurrentDerivativeFinancialLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:label="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xml:lang="en-US" id="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives">Adjustments for gains (losses) on change in fair value of derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="label: AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives to label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives"/>
    <label xlink:type="resource" xlink:label="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xml:lang="en-US" id="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_2">Loss on derivative financial instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_2" xlink:title="label: AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives to label_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsForDebtIssueCosts" xlink:label="PaymentsForDebtIssueCosts" xlink:title="PaymentsForDebtIssueCosts"/>
    <label xlink:type="resource" xlink:label="label_PaymentsForDebtIssueCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForDebtIssueCosts" xml:lang="en-US" id="label_PaymentsForDebtIssueCosts">Payments for debt issue costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForDebtIssueCosts" xlink:to="label_PaymentsForDebtIssueCosts" xlink:title="label: PaymentsForDebtIssueCosts to label_PaymentsForDebtIssueCosts"/>
    <label xlink:type="resource" xlink:label="label_PaymentsForDebtIssueCosts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForDebtIssueCosts" xml:lang="en-US" id="label_PaymentsForDebtIssueCosts_2">Payment of financing costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForDebtIssueCosts" xlink:to="label_PaymentsForDebtIssueCosts_2" xlink:title="label: PaymentsForDebtIssueCosts to label_PaymentsForDebtIssueCosts"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RestrictedCashCollateralBreached" xlink:label="RestrictedCashCollateralBreached" xlink:title="RestrictedCashCollateralBreached"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashCollateralBreached" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashCollateralBreached" xml:lang="en-US" id="label_RestrictedCashCollateralBreached">Restricted Cash Collateral Breached</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashCollateralBreached" xlink:to="label_RestrictedCashCollateralBreached" xlink:title="label: RestrictedCashCollateralBreached to label_RestrictedCashCollateralBreached"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashCollateralBreached_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashCollateralBreached" xml:lang="en-US" id="label_RestrictedCashCollateralBreached_2">Breached restricted cash collateral</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashCollateralBreached" xlink:to="label_RestrictedCashCollateralBreached_2" xlink:title="label: RestrictedCashCollateralBreached to label_RestrictedCashCollateralBreached"/>
    <label xlink:type="resource" xlink:label="label_RestrictedCashCollateralBreached_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedCashCollateralBreached" xml:lang="en-US" id="label_RestrictedCashCollateralBreached_3">The amount of collateral requirements that should have been pledged in a restricted cash account, related with covenants that have been breached.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashCollateralBreached" xlink:to="label_RestrictedCashCollateralBreached_3" xlink:title="label: RestrictedCashCollateralBreached to label_RestrictedCashCollateralBreached"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentShippingIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirmentShippingIncMember" xml:lang="en-US" id="label_FirmentShippingIncMember">Firment Shipping Inc [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentShippingIncMember" xlink:to="label_FirmentShippingIncMember" xlink:title="label: FirmentShippingIncMember to label_FirmentShippingIncMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentShippingIncMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirmentShippingIncMember" xml:lang="en-US" id="label_FirmentShippingIncMember_2">Firment Shipping Inc.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentShippingIncMember" xlink:to="label_FirmentShippingIncMember_2" xlink:title="label: FirmentShippingIncMember to label_FirmentShippingIncMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndiscountedFinanceLeasePaymentsToBeReceived" xlink:label="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="UndiscountedFinanceLeasePaymentsToBeReceived"/>
    <label xlink:type="resource" xlink:label="label_UndiscountedFinanceLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UndiscountedFinanceLeasePaymentsToBeReceived" xml:lang="en-US" id="label_UndiscountedFinanceLeasePaymentsToBeReceived">Undiscounted finance lease payments to be received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:to="label_UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="label: UndiscountedFinanceLeasePaymentsToBeReceived to label_UndiscountedFinanceLeasePaymentsToBeReceived"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RightofuseAssets" xlink:label="RightofuseAssets" xlink:title="RightofuseAssets"/>
    <label xlink:type="resource" xlink:label="label_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RightofuseAssets" xml:lang="en-US" id="label_RightofuseAssets">Right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets" xlink:title="label: RightofuseAssets to label_RightofuseAssets"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyDepreciationRightofuseAssets" xlink:label="MonthlyDepreciationRightofuseAssets" xlink:title="MonthlyDepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:label="label_MonthlyDepreciationRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonthlyDepreciationRightofuseAssets" xml:lang="en-US" id="label_MonthlyDepreciationRightofuseAssets">Monthly Depreciation Right of use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyDepreciationRightofuseAssets" xlink:to="label_MonthlyDepreciationRightofuseAssets" xlink:title="label: MonthlyDepreciationRightofuseAssets to label_MonthlyDepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:label="label_MonthlyDepreciationRightofuseAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MonthlyDepreciationRightofuseAssets" xml:lang="en-US" id="label_MonthlyDepreciationRightofuseAssets_2">Monthly depreciation right of use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyDepreciationRightofuseAssets" xlink:to="label_MonthlyDepreciationRightofuseAssets_2" xlink:title="label: MonthlyDepreciationRightofuseAssets to label_MonthlyDepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:label="label_MonthlyDepreciationRightofuseAssets_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonthlyDepreciationRightofuseAssets" xml:lang="en-US" id="label_MonthlyDepreciationRightofuseAssets_3">The amount of monthly depreciation of right-of-use assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyDepreciationRightofuseAssets" xlink:to="label_MonthlyDepreciationRightofuseAssets_3" xlink:title="label: MonthlyDepreciationRightofuseAssets to label_MonthlyDepreciationRightofuseAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:label="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="DateAsAtWhichEntityPlansToApplyNewIFRSInitially"/>
    <label xlink:type="resource" xlink:label="label_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xml:lang="en-US" id="label_DateAsAtWhichEntityPlansToApplyNewIFRSInitially">Date as at which entity plans to apply new IFRS initially</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:to="label_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="label: DateAsAtWhichEntityPlansToApplyNewIFRSInitially to label_DateAsAtWhichEntityPlansToApplyNewIFRSInitially"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TitleOfNewIFRS" xlink:label="TitleOfNewIFRS" xlink:title="TitleOfNewIFRS"/>
    <label xlink:type="resource" xlink:label="label_TitleOfNewIFRS" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TitleOfNewIFRS" xml:lang="en-US" id="label_TitleOfNewIFRS">Title of new IFRS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TitleOfNewIFRS" xlink:to="label_TitleOfNewIFRS" xlink:title="label: TitleOfNewIFRS to label_TitleOfNewIFRS"/>
    <label xlink:type="resource" xlink:label="label_TitleOfNewIFRS_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TitleOfNewIFRS" xml:lang="en-US" id="label_TitleOfNewIFRS_2">Title of new IFRS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TitleOfNewIFRS" xlink:to="label_TitleOfNewIFRS_2" xlink:title="label: TitleOfNewIFRS to label_TitleOfNewIFRS"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired" xlink:label="DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="DateByWhichApplicationOfNewIFRSIsRequired"/>
    <label xlink:type="resource" xlink:label="label_DateByWhichApplicationOfNewIFRSIsRequired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DateByWhichApplicationOfNewIFRSIsRequired" xml:lang="en-US" id="label_DateByWhichApplicationOfNewIFRSIsRequired">Date by which application of new IFRS is required</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DateByWhichApplicationOfNewIFRSIsRequired" xlink:to="label_DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="label: DateByWhichApplicationOfNewIFRSIsRequired to label_DateByWhichApplicationOfNewIFRSIsRequired"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsAxis" xlink:label="NewIFRSsAxis" xlink:title="NewIFRSsAxis"/>
    <label xlink:type="resource" xlink:label="label_NewIFRSsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewIFRSsAxis" xml:lang="en-US" id="label_NewIFRSsAxis">New IFRSs [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsAxis" xlink:to="label_NewIFRSsAxis" xlink:title="label: NewIFRSsAxis to label_NewIFRSsAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsMember" xlink:label="NewIFRSsMember" xlink:title="NewIFRSsMember"/>
    <label xlink:type="resource" xlink:label="label_NewIFRSsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewIFRSsMember" xml:lang="en-US" id="label_NewIFRSsMember">New IFRSs [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsMember" xlink:to="label_NewIFRSsMember" xlink:title="label: NewIFRSsMember to label_NewIFRSsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IFRS16LeasesMember" xlink:label="IFRS16LeasesMember" xlink:title="IFRS16LeasesMember"/>
    <label xlink:type="resource" xlink:label="label_IFRS16LeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IFRS16LeasesMember" xml:lang="en-US" id="label_IFRS16LeasesMember">IFRS 16 Leases [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IFRS16LeasesMember" xlink:to="label_IFRS16LeasesMember" xlink:title="label: IFRS16LeasesMember to label_IFRS16LeasesMember"/>
    <label xlink:type="resource" xlink:label="label_IFRS16LeasesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IFRS16LeasesMember" xml:lang="en-US" id="label_IFRS16LeasesMember_2">Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IFRS16LeasesMember" xlink:to="label_IFRS16LeasesMember_2" xlink:title="label: IFRS16LeasesMember to label_IFRS16LeasesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:label="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2" xlink:title="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements"/>
    <label xlink:type="resource" xlink:label="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xml:lang="en-US" id="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2">Discussion of impact that initial application of new IFRS is expected to have on financial statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2" xlink:to="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2" xlink:title="label: DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements to label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements"/>
    <label xlink:type="resource" xlink:label="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xml:lang="en-US" id="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_3">Discussion of impact that initial application of new IFRS is expected to have on financial statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_2" xlink:to="label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements_3" xlink:title="label: DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements to label_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesAxis" xlink:label="AccountingEstimatesAxis" xlink:title="AccountingEstimatesAxis"/>
    <label xlink:type="resource" xlink:label="label_AccountingEstimatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountingEstimatesAxis" xml:lang="en-US" id="label_AccountingEstimatesAxis">Accounting estimates [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountingEstimatesAxis" xlink:to="label_AccountingEstimatesAxis" xlink:title="label: AccountingEstimatesAxis to label_AccountingEstimatesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesMember" xlink:label="AccountingEstimatesMember" xlink:title="AccountingEstimatesMember"/>
    <label xlink:type="resource" xlink:label="label_AccountingEstimatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountingEstimatesMember" xml:lang="en-US" id="label_AccountingEstimatesMember">Accounting estimates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountingEstimatesMember" xlink:to="label_AccountingEstimatesMember" xlink:title="label: AccountingEstimatesMember to label_AccountingEstimatesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LeaseComponentMember" xlink:label="LeaseComponentMember" xlink:title="LeaseComponentMember"/>
    <label xlink:type="resource" xlink:label="label_LeaseComponentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseComponentMember" xml:lang="en-US" id="label_LeaseComponentMember">Lease Component [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseComponentMember" xlink:to="label_LeaseComponentMember" xlink:title="label: LeaseComponentMember to label_LeaseComponentMember"/>
    <label xlink:type="resource" xlink:label="label_LeaseComponentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseComponentMember" xml:lang="en-US" id="label_LeaseComponentMember_2">Lease Component</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseComponentMember" xlink:to="label_LeaseComponentMember_2" xlink:title="label: LeaseComponentMember to label_LeaseComponentMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonLeaseComponentMember" xlink:label="NonLeaseComponentMember" xlink:title="NonLeaseComponentMember"/>
    <label xlink:type="resource" xlink:label="label_NonLeaseComponentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonLeaseComponentMember" xml:lang="en-US" id="label_NonLeaseComponentMember">Non Lease Component [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonLeaseComponentMember" xlink:to="label_NonLeaseComponentMember" xlink:title="label: NonLeaseComponentMember to label_NonLeaseComponentMember"/>
    <label xlink:type="resource" xlink:label="label_NonLeaseComponentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonLeaseComponentMember" xml:lang="en-US" id="label_NonLeaseComponentMember_2">Non-Lease Component</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonLeaseComponentMember" xlink:to="label_NonLeaseComponentMember_2" xlink:title="label: NonLeaseComponentMember to label_NonLeaseComponentMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_UnrealizedCashAndCashEquivalents" xlink:label="UnrealizedCashAndCashEquivalents" xlink:title="UnrealizedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_UnrealizedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnrealizedCashAndCashEquivalents" xml:lang="en-US" id="label_UnrealizedCashAndCashEquivalents">Unrealized Cash And Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedCashAndCashEquivalents" xlink:to="label_UnrealizedCashAndCashEquivalents" xlink:title="label: UnrealizedCashAndCashEquivalents to label_UnrealizedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_UnrealizedCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnrealizedCashAndCashEquivalents" xml:lang="en-US" id="label_UnrealizedCashAndCashEquivalents_2">Cash and cash equivalents, unrealized amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedCashAndCashEquivalents" xlink:to="label_UnrealizedCashAndCashEquivalents_2" xlink:title="label: UnrealizedCashAndCashEquivalents to label_UnrealizedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:label="label_UnrealizedCashAndCashEquivalents_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnrealizedCashAndCashEquivalents" xml:lang="en-US" id="label_UnrealizedCashAndCashEquivalents_3">The amount of cash and cash equivalents that the entity should have disclosed in its statements.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedCashAndCashEquivalents" xlink:to="label_UnrealizedCashAndCashEquivalents_3" xlink:title="label: UnrealizedCashAndCashEquivalents to label_UnrealizedCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAAndTrancheBMember" xlink:label="TrancheAAndTrancheBMember" xlink:title="TrancheAAndTrancheBMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheAAndTrancheBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TrancheAAndTrancheBMember" xml:lang="en-US" id="label_TrancheAAndTrancheBMember">Tranche A and Tranche B [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheAAndTrancheBMember" xlink:to="label_TrancheAAndTrancheBMember" xlink:title="label: TrancheAAndTrancheBMember to label_TrancheAAndTrancheBMember"/>
    <label xlink:type="resource" xlink:label="label_TrancheAAndTrancheBMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TrancheAAndTrancheBMember" xml:lang="en-US" id="label_TrancheAAndTrancheBMember_2">Tranche A and Tranche B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrancheAAndTrancheBMember" xlink:to="label_TrancheAAndTrancheBMember_2" xlink:title="label: TrancheAAndTrancheBMember to label_TrancheAAndTrancheBMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulAdvanceMember" xlink:label="ArtfulAdvanceMember" xlink:title="ArtfulAdvanceMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulAdvanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ArtfulAdvanceMember" xml:lang="en-US" id="label_ArtfulAdvanceMember">Artful Advance [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulAdvanceMember" xlink:to="label_ArtfulAdvanceMember" xlink:title="label: ArtfulAdvanceMember to label_ArtfulAdvanceMember"/>
    <label xlink:type="resource" xlink:label="label_ArtfulAdvanceMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ArtfulAdvanceMember" xml:lang="en-US" id="label_ArtfulAdvanceMember_2">Artful Advance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ArtfulAdvanceMember" xlink:to="label_ArtfulAdvanceMember_2" xlink:title="label: ArtfulAdvanceMember to label_ArtfulAdvanceMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityAdvanceMember" xlink:label="LongevityAdvanceMember" xlink:title="LongevityAdvanceMember"/>
    <label xlink:type="resource" xlink:label="label_LongevityAdvanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongevityAdvanceMember" xml:lang="en-US" id="label_LongevityAdvanceMember">Longevity Advance [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongevityAdvanceMember" xlink:to="label_LongevityAdvanceMember" xlink:title="label: LongevityAdvanceMember to label_LongevityAdvanceMember"/>
    <label xlink:type="resource" xlink:label="label_LongevityAdvanceMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongevityAdvanceMember" xml:lang="en-US" id="label_LongevityAdvanceMember_2">Longevity Advance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongevityAdvanceMember" xlink:to="label_LongevityAdvanceMember_2" xlink:title="label: LongevityAdvanceMember to label_LongevityAdvanceMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsDefaultInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsDefaultInterestRate" xml:lang="en-US" id="label_BorrowingsDefaultInterestRate">Borrowings Default Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDefaultInterestRate" xlink:to="label_BorrowingsDefaultInterestRate" xlink:title="label: BorrowingsDefaultInterestRate to label_BorrowingsDefaultInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsDefaultInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsDefaultInterestRate" xml:lang="en-US" id="label_BorrowingsDefaultInterestRate_2">Default Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDefaultInterestRate" xlink:to="label_BorrowingsDefaultInterestRate_2" xlink:title="label: BorrowingsDefaultInterestRate to label_BorrowingsDefaultInterestRate"/>
    <label xlink:type="resource" xlink:label="label_BorrowingsDefaultInterestRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsDefaultInterestRate" xml:lang="en-US" id="label_BorrowingsDefaultInterestRate_3">The default interest per annum above the regular interest charged, in case of failure to repay.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDefaultInterestRate" xlink:to="label_BorrowingsDefaultInterestRate_3" xlink:title="label: BorrowingsDefaultInterestRate to label_BorrowingsDefaultInterestRate"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OperatingExpense1" xlink:label="OperatingExpense_2" xlink:title="OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_4">Vessel operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense_2" xlink:to="label_OperatingExpense_4" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_5">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense_2" xlink:to="label_OperatingExpense_5" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_6">The amount of all operating expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense_2" xlink:to="label_OperatingExpense_6" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <label xlink:type="resource" xlink:label="label_OperatingExpense_7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpense" xml:lang="en-US" id="label_OperatingExpense_7">Operating expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense_2" xlink:to="label_OperatingExpense_7" xlink:title="label: OperatingExpense to label_OperatingExpense"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesOutstandingMember" xlink:label="ClassBCommonSharesOutstandingMember" xlink:title="ClassBCommonSharesOutstandingMember"/>
    <label xlink:type="resource" xlink:label="label_ClassBCommonSharesOutstandingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassBCommonSharesOutstandingMember" xml:lang="en-US" id="label_ClassBCommonSharesOutstandingMember">Class B Common Shares Outstanding [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassBCommonSharesOutstandingMember" xlink:to="label_ClassBCommonSharesOutstandingMember" xlink:title="label: ClassBCommonSharesOutstandingMember to label_ClassBCommonSharesOutstandingMember"/>
    <label xlink:type="resource" xlink:label="label_ClassBCommonSharesOutstandingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassBCommonSharesOutstandingMember" xml:lang="en-US" id="label_ClassBCommonSharesOutstandingMember_2">Class B common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassBCommonSharesOutstandingMember" xlink:to="label_ClassBCommonSharesOutstandingMember_2" xlink:title="label: ClassBCommonSharesOutstandingMember to label_ClassBCommonSharesOutstandingMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:label="DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:title="DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xml:lang="en-US" id="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory">Description of compound financial instruments with multiple embedded derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:to="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:title="label: DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory to label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xml:lang="en-US" id="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory_2">Embedded Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory" xlink:to="label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory_2" xlink:title="label: DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory to label_DisclosureOfCompoundFinancialInstrumentsWithMultipleEmbeddedDerivativesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory">Description of accounting policy for derivative financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_2">Embedded Derivatives:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory to label_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentConvertibleConversionPrice" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionPrice">Debt Instrument Convertible Conversion Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionPrice" xlink:to="label_DebtInstrumentConvertibleConversionPrice" xlink:title="label: DebtInstrumentConvertibleConversionPrice to label_DebtInstrumentConvertibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionPrice_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentConvertibleConversionPrice" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionPrice_2">The price per share of the conversion feature embedded in the debt instrument.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionPrice" xlink:to="label_DebtInstrumentConvertibleConversionPrice_2" xlink:title="label: DebtInstrumentConvertibleConversionPrice to label_DebtInstrumentConvertibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionPrice_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentConvertibleConversionPrice" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionPrice_3">Conversion price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionPrice" xlink:to="label_DebtInstrumentConvertibleConversionPrice_3" xlink:title="label: DebtInstrumentConvertibleConversionPrice to label_DebtInstrumentConvertibleConversionPrice"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleThresholdTradingDays" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentConvertibleThresholdTradingDays" xml:lang="en-US" id="label_DebtInstrumentConvertibleThresholdTradingDays">Debt Instrument Convertible Threshold Trading Days</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleThresholdTradingDays" xlink:to="label_DebtInstrumentConvertibleThresholdTradingDays" xlink:title="label: DebtInstrumentConvertibleThresholdTradingDays to label_DebtInstrumentConvertibleThresholdTradingDays"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleThresholdTradingDays_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentConvertibleThresholdTradingDays" xml:lang="en-US" id="label_DebtInstrumentConvertibleThresholdTradingDays_2">Threshold number of specified consecutive trading days immediately preceding the date on which the Conversion Notice was executed.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleThresholdTradingDays" xlink:to="label_DebtInstrumentConvertibleThresholdTradingDays_2" xlink:title="label: DebtInstrumentConvertibleThresholdTradingDays to label_DebtInstrumentConvertibleThresholdTradingDays"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleThresholdTradingDays_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentConvertibleThresholdTradingDays" xml:lang="en-US" id="label_DebtInstrumentConvertibleThresholdTradingDays_3">Threshold trading days</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleThresholdTradingDays" xlink:to="label_DebtInstrumentConvertibleThresholdTradingDays_3" xlink:title="label: DebtInstrumentConvertibleThresholdTradingDays to label_DebtInstrumentConvertibleThresholdTradingDays"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionMultiplier" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentConvertibleConversionMultiplier" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionMultiplier">Debt Instrument Convertible Conversion Multiplier</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionMultiplier" xlink:to="label_DebtInstrumentConvertibleConversionMultiplier" xlink:title="label: DebtInstrumentConvertibleConversionMultiplier to label_DebtInstrumentConvertibleConversionMultiplier"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionMultiplier_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentConvertibleConversionMultiplier" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionMultiplier_2">Pricing period multiplied</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionMultiplier" xlink:to="label_DebtInstrumentConvertibleConversionMultiplier_2" xlink:title="label: DebtInstrumentConvertibleConversionMultiplier to label_DebtInstrumentConvertibleConversionMultiplier"/>
    <label xlink:type="resource" xlink:label="label_DebtInstrumentConvertibleConversionMultiplier_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentConvertibleConversionMultiplier" xml:lang="en-US" id="label_DebtInstrumentConvertibleConversionMultiplier_3">The multiplier used in order to calculate the price per share of the conversion feature embedded in the debt instrument.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentConvertibleConversionMultiplier" xlink:to="label_DebtInstrumentConvertibleConversionMultiplier_3" xlink:title="label: DebtInstrumentConvertibleConversionMultiplier to label_DebtInstrumentConvertibleConversionMultiplier"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities">Non-current derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities" xlink:title="label: NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities_2">Derivative financial instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities_2" xlink:title="label: NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities_3">Fair value of derivative financial instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities_3" xlink:title="label: NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteMember" xlink:label="ConvertibleNoteMember" xlink:title="ConvertibleNoteMember"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNoteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertibleNoteMember" xml:lang="en-US" id="label_ConvertibleNoteMember">Convertible Note [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNoteMember" xlink:to="label_ConvertibleNoteMember" xlink:title="label: ConvertibleNoteMember to label_ConvertibleNoteMember"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNoteMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertibleNoteMember" xml:lang="en-US" id="label_ConvertibleNoteMember_2">Convertible Note</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNoteMember" xlink:to="label_ConvertibleNoteMember_2" xlink:title="label: ConvertibleNoteMember to label_ConvertibleNoteMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IntervalBetweenVesselDrydockingSpecialSurvey" xlink:label="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <label xlink:type="resource" xlink:label="label_IntervalBetweenVesselDrydockingSpecialSurvey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntervalBetweenVesselDrydockingSpecialSurvey" xml:lang="en-US" id="label_IntervalBetweenVesselDrydockingSpecialSurvey">Interval Between Vessel Drydocking Special Survey</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:to="label_IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="label: IntervalBetweenVesselDrydockingSpecialSurvey to label_IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <label xlink:type="resource" xlink:label="label_IntervalBetweenVesselDrydockingSpecialSurvey_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntervalBetweenVesselDrydockingSpecialSurvey" xml:lang="en-US" id="label_IntervalBetweenVesselDrydockingSpecialSurvey_2">Interval between vessel drydockings / special surveys</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:to="label_IntervalBetweenVesselDrydockingSpecialSurvey_2" xlink:title="label: IntervalBetweenVesselDrydockingSpecialSurvey to label_IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <label xlink:type="resource" xlink:label="label_IntervalBetweenVesselDrydockingSpecialSurvey_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IntervalBetweenVesselDrydockingSpecialSurvey" xml:lang="en-US" id="label_IntervalBetweenVesselDrydockingSpecialSurvey_3">Refers to the period of review of drydocking and special survey costs in order to be amortized or deferred.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:to="label_IntervalBetweenVesselDrydockingSpecialSurvey_3" xlink:title="label: IntervalBetweenVesselDrydockingSpecialSurvey to label_IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="Level3OfFairValueHierarchyMember" xlink:title="Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:label="label_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Level3OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level3OfFairValueHierarchyMember">Level 3 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level3OfFairValueHierarchyMember" xlink:to="label_Level3OfFairValueHierarchyMember" xlink:title="label: Level3OfFairValueHierarchyMember to label_Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:label="label_Level3OfFairValueHierarchyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Level3OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level3OfFairValueHierarchyMember_2">Level 3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level3OfFairValueHierarchyMember" xlink:to="label_Level3OfFairValueHierarchyMember_2" xlink:title="label: Level3OfFairValueHierarchyMember to label_Level3OfFairValueHierarchyMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInNumberOfSharesOutstandingAbstract" xlink:label="ChangesInNumberOfSharesOutstandingAbstract" xlink:title="ChangesInNumberOfSharesOutstandingAbstract"/>
    <label xlink:type="resource" xlink:label="label_ChangesInNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInNumberOfSharesOutstandingAbstract" xml:lang="en-US" id="label_ChangesInNumberOfSharesOutstandingAbstract">Changes in number of shares outstanding [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInNumberOfSharesOutstandingAbstract" xlink:to="label_ChangesInNumberOfSharesOutstandingAbstract" xlink:title="label: ChangesInNumberOfSharesOutstandingAbstract to label_ChangesInNumberOfSharesOutstandingAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:label="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:title="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract">Disclosure of financial assets at date of initial application of IFRS 9 [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:to="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:title="label: DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract to label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xlink:label="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xlink:title="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table">Disclosure of financial assets at date of initial application of IFRS 9 [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xlink:to="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table" xlink:title="label: DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table to label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Table"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ClassesOfFinancialAssetsAxis" xlink:title="ClassesOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfFinancialAssetsAxis" xml:lang="en-US" id="label_ClassesOfFinancialAssetsAxis">Classes of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialAssetsAxis" xlink:to="label_ClassesOfFinancialAssetsAxis" xlink:title="label: ClassesOfFinancialAssetsAxis to label_ClassesOfFinancialAssetsAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsMember" xlink:label="FinancialAssetsMember" xlink:title="FinancialAssetsMember"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsMember" xml:lang="en-US" id="label_FinancialAssetsMember">Financial assets, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMember" xlink:to="label_FinancialAssetsMember" xlink:title="label: FinancialAssetsMember to label_FinancialAssetsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtAmortisedCostMember" xlink:label="FinancialAssetsAtAmortisedCostMember" xlink:title="FinancialAssetsAtAmortisedCostMember"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtAmortisedCostMember" xml:lang="en-US" id="label_FinancialAssetsAtAmortisedCostMember">Financial assets at amortised cost, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCostMember" xlink:to="label_FinancialAssetsAtAmortisedCostMember" xlink:title="label: FinancialAssetsAtAmortisedCostMember to label_FinancialAssetsAtAmortisedCostMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeReceivablesMember" xlink:label="TradeReceivablesMember" xlink:title="TradeReceivablesMember"/>
    <label xlink:type="resource" xlink:label="label_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeReceivablesMember" xml:lang="en-US" id="label_TradeReceivablesMember">Trade receivables [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesMember" xlink:to="label_TradeReceivablesMember" xlink:title="label: TradeReceivablesMember to label_TradeReceivablesMember"/>
    <label xlink:type="resource" xlink:label="label_TradeReceivablesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeReceivablesMember" xml:lang="en-US" id="label_TradeReceivablesMember_2">Trade accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesMember" xlink:to="label_TradeReceivablesMember_2" xlink:title="label: TradeReceivablesMember to label_TradeReceivablesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashAndCashEquivalentsMember" xlink:label="CashAndCashEquivalentsMember" xlink:title="CashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsMember" xml:lang="en-US" id="label_CashAndCashEquivalentsMember">Cash And Cash Equivalents [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsMember" xlink:to="label_CashAndCashEquivalentsMember" xlink:title="label: CashAndCashEquivalentsMember to label_CashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsMember" xml:lang="en-US" id="label_CashAndCashEquivalentsMember_2">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsMember" xlink:to="label_CashAndCashEquivalentsMember_2" xlink:title="label: CashAndCashEquivalentsMember to label_CashAndCashEquivalentsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xlink:label="DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xlink:title="DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems">Disclosure of financial liabilities at date of initial application of IFRS 9 [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xlink:to="label_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems" xlink:title="label: DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems to label_DisclosureOfFinancialLiabilitiesAtDateOfInitialApplicationOfIFRS9LineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:label="FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9">Financial liabilities, measurement category immediately before initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="label: FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2">Original carrying amount under IAS 39</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:title="label: FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialLiabilitiesMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:label="FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9">Financial liabilities, carrying amount immediately before initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="label: FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2">New carrying amount under IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:title="label: FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialLiabilitiesCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:label="FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9">Financial assets, measurement category immediately before initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="label: FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2">Original classification under IAS 39</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:title="label: FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialAssetsMeasurementCategoryImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:label="FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9">Financial assets, carrying amount immediately before initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:title="label: FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2">Original carrying amount under IAS 39</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9_2" xlink:title="label: FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9 to label_FinancialAssetsCarryingAmountImmediatelyBeforeInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:label="FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:title="FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9">Financial assets, measurement category immediately after initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:title="label: FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9 to label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9_2">New classification under IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9_2" xlink:title="label: FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9 to label_FinancialAssetsMeasurementCategoryImmediatelyAfterInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:label="FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:title="FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9">Financial assets, carrying amount immediately after initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:title="label: FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9 to label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9"/>
    <label xlink:type="resource" xlink:label="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xml:lang="en-US" id="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9_2">New carrying amount under IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9" xlink:to="label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9_2" xlink:title="label: FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9 to label_FinancialAssetsCarryingAmountImmediatelyAfterInitialApplicationOfIFRS9"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementAfterReverseStockSplitsMember" xlink:label="October2017PrivatePlacementAfterReverseSplits" xlink:title="October2017PrivatePlacementAfterReverseSplits"/>
    <label xlink:type="resource" xlink:label="label_October2017PrivatePlacementAfterReverseSplits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2017PrivatePlacementAfterReverseSplits" xml:lang="en-US" id="label_October2017PrivatePlacementAfterReverseSplits">October 2017 Private Placement After Reverse Splits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017PrivatePlacementAfterReverseSplits" xlink:to="label_October2017PrivatePlacementAfterReverseSplits" xlink:title="label: October2017PrivatePlacementAfterReverseSplits to label_October2017PrivatePlacementAfterReverseSplits"/>
    <label xlink:type="resource" xlink:label="label_October2017PrivatePlacementAfterReverseSplitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2017PrivatePlacementAfterReverseSplitsMember" xml:lang="en-US" id="label_October2017PrivatePlacementAfterReverseSplitsMember">October 2017 Private Placement -After Reverse Stock Splits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2017PrivatePlacementAfterReverseSplits" xlink:to="label_October2017PrivatePlacementAfterReverseSplitsMember" xlink:title="label: October2017PrivatePlacementAfterReverseSplitsMember to label_October2017PrivatePlacementAfterReverseSplitsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ClassesOfFinancialLiabilitiesAxis" xlink:title="ClassesOfFinancialLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:label="label_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfFinancialLiabilitiesAxis" xml:lang="en-US" id="label_ClassesOfFinancialLiabilitiesAxis">Classes of financial liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialLiabilitiesAxis" xlink:to="label_ClassesOfFinancialLiabilitiesAxis" xlink:title="label: ClassesOfFinancialLiabilitiesAxis to label_ClassesOfFinancialLiabilitiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="FinancialLiabilitiesMember" xlink:title="FinancialLiabilitiesMember"/>
    <label xlink:type="resource" xlink:label="label_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesMember" xml:lang="en-US" id="label_FinancialLiabilitiesMember">Financial liabilities, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesMember" xlink:to="label_FinancialLiabilitiesMember" xlink:title="label: FinancialLiabilitiesMember to label_FinancialLiabilitiesMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherFinanciaLliabilitiesMember" xlink:label="OtherFinanciaLliabilitiesMember" xlink:title="OtherFinanciaLliabilitiesMember"/>
    <label xlink:type="resource" xlink:label="label_OtherFinanciaLliabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinanciaLliabilitiesMember" xml:lang="en-US" id="label_OtherFinanciaLliabilitiesMember">Other Financia Lliabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinanciaLliabilitiesMember" xlink:to="label_OtherFinanciaLliabilitiesMember" xlink:title="label: OtherFinanciaLliabilitiesMember to label_OtherFinanciaLliabilitiesMember"/>
    <label xlink:type="resource" xlink:label="label_OtherFinanciaLliabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinanciaLliabilitiesMember" xml:lang="en-US" id="label_OtherFinanciaLliabilitiesMember_2">Carrying amount-Other financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinanciaLliabilitiesMember" xlink:to="label_OtherFinanciaLliabilitiesMember_2" xlink:title="label: OtherFinanciaLliabilitiesMember to label_OtherFinanciaLliabilitiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:label="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:title="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory">Disclosure of financial assets at date of initial application of IFRS 9 [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:to="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:title="label: DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory to label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory"/>
    <label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory_2">Disclosure of financial assets at date of initial application of IFRS 9</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:to="label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory_2" xlink:title="label: DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory to label_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteIIMember" xlink:label="ConvertibleNoteIIMember" xlink:title="ConvertibleNoteIIMember"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNoteIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertibleNoteIIMember" xml:lang="en-US" id="label_ConvertibleNoteIIMember">Convertible Note II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNoteIIMember" xlink:to="label_ConvertibleNoteIIMember" xlink:title="label: ConvertibleNoteIIMember to label_ConvertibleNoteIIMember"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNoteIIMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertibleNoteIIMember" xml:lang="en-US" id="label_ConvertibleNoteIIMember_2">Convertible Note</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNoteIIMember" xlink:to="label_ConvertibleNoteIIMember_2" xlink:title="label: ConvertibleNoteIIMember to label_ConvertibleNoteIIMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MeasurementAxis" xlink:label="MeasurementAxis" xlink:title="MeasurementAxis"/>
    <label xlink:type="resource" xlink:label="label_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MeasurementAxis" xml:lang="en-US" id="label_MeasurementAxis">Measurement [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeasurementAxis" xlink:to="label_MeasurementAxis" xlink:title="label: MeasurementAxis to label_MeasurementAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="AggregatedMeasurementMember" xlink:title="AggregatedMeasurementMember"/>
    <label xlink:type="resource" xlink:label="label_AggregatedMeasurementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AggregatedMeasurementMember" xml:lang="en-US" id="label_AggregatedMeasurementMember">Aggregated measurement [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedMeasurementMember" xlink:to="label_AggregatedMeasurementMember" xlink:title="label: AggregatedMeasurementMember to label_AggregatedMeasurementMember"/>
    <label xlink:type="resource" xlink:label="label_AggregatedMeasurementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AggregatedMeasurementMember" xml:lang="en-US" id="label_AggregatedMeasurementMember_2">Financial liabilities not measured at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedMeasurementMember" xlink:to="label_AggregatedMeasurementMember_2" xlink:title="label: AggregatedMeasurementMember to label_AggregatedMeasurementMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AtFairValueMember" xlink:label="AtFairValueMember" xlink:title="AtFairValueMember"/>
    <label xlink:type="resource" xlink:label="label_AtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AtFairValueMember" xml:lang="en-US" id="label_AtFairValueMember">At fair value [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtFairValueMember" xlink:to="label_AtFairValueMember" xlink:title="label: AtFairValueMember to label_AtFairValueMember"/>
    <label xlink:type="resource" xlink:label="label_AtFairValueMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AtFairValueMember" xml:lang="en-US" id="label_AtFairValueMember_2">Financial liabilities measured at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtFairValueMember" xlink:to="label_AtFairValueMember_2" xlink:title="label: AtFairValueMember to label_AtFairValueMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:label="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <label xlink:type="resource" xlink:label="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xml:lang="en-US" id="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">Not measured at fair value in statement of financial position but for which fair value is disclosed [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:to="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="label: NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember to label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <label xlink:type="resource" xlink:label="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xml:lang="en-US" id="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_2">Financial liabilities not measured at fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:to="label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_2" xlink:title="label: NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember to label_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:label="label_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityEmergingGrowthCompany" xml:lang="en-US" id="label_EntityEmergingGrowthCompany">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="label_EntityEmergingGrowthCompany" xlink:title="label: EntityEmergingGrowthCompany to label_EntityEmergingGrowthCompany"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityShellCompany" xlink:label="EntityShellCompany" xlink:title="EntityShellCompany"/>
    <label xlink:type="resource" xlink:label="label_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityShellCompany" xml:lang="en-US" id="label_EntityShellCompany">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityShellCompany" xlink:to="label_EntityShellCompany" xlink:title="label: EntityShellCompany to label_EntityShellCompany"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TimePeriodConsidered" xlink:label="TimePeriodConsidered" xlink:title="TimePeriodConsidered"/>
    <label xlink:type="resource" xlink:label="label_TimePeriodConsidered" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TimePeriodConsidered" xml:lang="en-US" id="label_TimePeriodConsidered">Time Period Considered</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimePeriodConsidered" xlink:to="label_TimePeriodConsidered" xlink:title="label: TimePeriodConsidered to label_TimePeriodConsidered"/>
    <label xlink:type="resource" xlink:label="label_TimePeriodConsidered_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TimePeriodConsidered" xml:lang="en-US" id="label_TimePeriodConsidered_2">The period of time charter rates used to create an average to calculate cash flows for impairment purposes.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimePeriodConsidered" xlink:to="label_TimePeriodConsidered_2" xlink:title="label: TimePeriodConsidered to label_TimePeriodConsidered"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VotingRights" xlink:label="VotingRights" xlink:title="VotingRights"/>
    <label xlink:type="resource" xlink:label="label_VotingRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VotingRights" xml:lang="en-US" id="label_VotingRights">Voting Rights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VotingRights" xlink:to="label_VotingRights" xlink:title="label: VotingRights to label_VotingRights"/>
    <label xlink:type="resource" xlink:label="label_VotingRights_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VotingRights" xml:lang="en-US" id="label_VotingRights_2">Description of voting rights of common stock. Includes eligibility to vote and votes per share owned.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VotingRights" xlink:to="label_VotingRights_2" xlink:title="label: VotingRights to label_VotingRights"/>
    <label xlink:type="resource" xlink:label="label_VotingRights_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VotingRights" xml:lang="en-US" id="label_VotingRights_3">Voting rights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VotingRights" xlink:to="label_VotingRights_3" xlink:title="label: VotingRights to label_VotingRights"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ThreeVesselsMember" xlink:label="ThreeVesselsMember" xlink:title="ThreeVesselsMember"/>
    <label xlink:type="resource" xlink:label="label_ThreeVesselsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ThreeVesselsMember" xml:lang="en-US" id="label_ThreeVesselsMember">Three Vessels [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThreeVesselsMember" xlink:to="label_ThreeVesselsMember" xlink:title="label: ThreeVesselsMember to label_ThreeVesselsMember"/>
    <label xlink:type="resource" xlink:label="label_ThreeVesselsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ThreeVesselsMember" xml:lang="en-US" id="label_ThreeVesselsMember_2">Three Vessels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThreeVesselsMember" xlink:to="label_ThreeVesselsMember_2" xlink:title="label: ThreeVesselsMember to label_ThreeVesselsMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EventOfDefaultMember" xlink:label="EventOfDefaultMember" xlink:title="EventOfDefaultMember"/>
    <label xlink:type="resource" xlink:label="label_EventOfDefaultMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EventOfDefaultMember" xml:lang="en-US" id="label_EventOfDefaultMember">Event Of Default [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventOfDefaultMember" xlink:to="label_EventOfDefaultMember" xlink:title="label: EventOfDefaultMember to label_EventOfDefaultMember"/>
    <label xlink:type="resource" xlink:label="label_EventOfDefaultMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EventOfDefaultMember" xml:lang="en-US" id="label_EventOfDefaultMember_2">Event of Default</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventOfDefaultMember" xlink:to="label_EventOfDefaultMember_2" xlink:title="label: EventOfDefaultMember to label_EventOfDefaultMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChangeInControlMember" xlink:label="ChangeInControlMember" xlink:title="ChangeInControlMember"/>
    <label xlink:type="resource" xlink:label="label_ChangeInControlMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangeInControlMember" xml:lang="en-US" id="label_ChangeInControlMember">Change In Control [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInControlMember" xlink:to="label_ChangeInControlMember" xlink:title="label: ChangeInControlMember to label_ChangeInControlMember"/>
    <label xlink:type="resource" xlink:label="label_ChangeInControlMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChangeInControlMember" xml:lang="en-US" id="label_ChangeInControlMember_2">Change in Control</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInControlMember" xlink:to="label_ChangeInControlMember_2" xlink:title="label: ChangeInControlMember to label_ChangeInControlMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TradingDaysCovenantMember" xlink:label="TradingDaysCovenantMember" xlink:title="TradingDaysCovenantMember"/>
    <label xlink:type="resource" xlink:label="label_TradingDaysCovenantMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradingDaysCovenantMember" xml:lang="en-US" id="label_TradingDaysCovenantMember">Trading Days Covenant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingDaysCovenantMember" xlink:to="label_TradingDaysCovenantMember" xlink:title="label: TradingDaysCovenantMember to label_TradingDaysCovenantMember"/>
    <label xlink:type="resource" xlink:label="label_TradingDaysCovenantMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradingDaysCovenantMember" xml:lang="en-US" id="label_TradingDaysCovenantMember_2">Trading Days Covenant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingDaysCovenantMember" xlink:to="label_TradingDaysCovenantMember_2" xlink:title="label: TradingDaysCovenantMember to label_TradingDaysCovenantMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNotesRedemptionPricePercentage" xlink:label="ConvertibleNotesRedemptionPricePercentage" xlink:title="ConvertibleNotesRedemptionPricePercentage"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNotesRedemptionPricePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertibleNotesRedemptionPricePercentage" xml:lang="en-US" id="label_ConvertibleNotesRedemptionPricePercentage">Convertible Notes Redemption Price Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNotesRedemptionPricePercentage" xlink:to="label_ConvertibleNotesRedemptionPricePercentage" xlink:title="label: ConvertibleNotesRedemptionPricePercentage to label_ConvertibleNotesRedemptionPricePercentage"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNotesRedemptionPricePercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConvertibleNotesRedemptionPricePercentage" xml:lang="en-US" id="label_ConvertibleNotesRedemptionPricePercentage_2">Percentage price of original principal amount of Convertible Notes at which debt can be redeemed by the issuer.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNotesRedemptionPricePercentage" xlink:to="label_ConvertibleNotesRedemptionPricePercentage_2" xlink:title="label: ConvertibleNotesRedemptionPricePercentage to label_ConvertibleNotesRedemptionPricePercentage"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleNotesRedemptionPricePercentage_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertibleNotesRedemptionPricePercentage" xml:lang="en-US" id="label_ConvertibleNotesRedemptionPricePercentage_3">Convertible notes redemption price percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleNotesRedemptionPricePercentage" xlink:to="label_ConvertibleNotesRedemptionPricePercentage_3" xlink:title="label: ConvertibleNotesRedemptionPricePercentage to label_ConvertibleNotesRedemptionPricePercentage"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PercentageBelowFloorPrice" xlink:label="PercentageBelowFloorPrice" xlink:title="PercentageBelowFloorPrice"/>
    <label xlink:type="resource" xlink:label="label_PercentageBelowFloorPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageBelowFloorPrice" xml:lang="en-US" id="label_PercentageBelowFloorPrice">Percentage Below Floor Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageBelowFloorPrice" xlink:to="label_PercentageBelowFloorPrice" xlink:title="label: PercentageBelowFloorPrice to label_PercentageBelowFloorPrice"/>
    <label xlink:type="resource" xlink:label="label_PercentageBelowFloorPrice_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageBelowFloorPrice" xml:lang="en-US" id="label_PercentageBelowFloorPrice_2">The percentage below floor price that common shares can be traded.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageBelowFloorPrice" xlink:to="label_PercentageBelowFloorPrice_2" xlink:title="label: PercentageBelowFloorPrice to label_PercentageBelowFloorPrice"/>
    <label xlink:type="resource" xlink:label="label_PercentageBelowFloorPrice_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageBelowFloorPrice" xml:lang="en-US" id="label_PercentageBelowFloorPrice_3">Percentage below floor price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageBelowFloorPrice" xlink:to="label_PercentageBelowFloorPrice_3" xlink:title="label: PercentageBelowFloorPrice to label_PercentageBelowFloorPrice"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MinimumPossibleConversionPrice" xlink:label="MinimumPossibleConversionPrice" xlink:title="MinimumPossibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_MinimumPossibleConversionPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumPossibleConversionPrice" xml:lang="en-US" id="label_MinimumPossibleConversionPrice">Minimum Possible Conversion Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPossibleConversionPrice" xlink:to="label_MinimumPossibleConversionPrice" xlink:title="label: MinimumPossibleConversionPrice to label_MinimumPossibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_MinimumPossibleConversionPrice_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumPossibleConversionPrice" xml:lang="en-US" id="label_MinimumPossibleConversionPrice_2">Minimum possible conversion price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPossibleConversionPrice" xlink:to="label_MinimumPossibleConversionPrice_2" xlink:title="label: MinimumPossibleConversionPrice to label_MinimumPossibleConversionPrice"/>
    <label xlink:type="resource" xlink:label="label_MinimumPossibleConversionPrice_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MinimumPossibleConversionPrice" xml:lang="en-US" id="label_MinimumPossibleConversionPrice_3">The minimum possible conversion price or Floor Price deemed appropriate by the Company's board of directors.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPossibleConversionPrice" xlink:to="label_MinimumPossibleConversionPrice_3" xlink:title="label: MinimumPossibleConversionPrice to label_MinimumPossibleConversionPrice"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProbabilityOfDefaultAxis" xlink:label="ProbabilityOfDefaultAxis" xlink:title="ProbabilityOfDefaultAxis"/>
    <label xlink:type="resource" xlink:label="label_ProbabilityOfDefaultAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProbabilityOfDefaultAxis" xml:lang="en-US" id="label_ProbabilityOfDefaultAxis">Probability of default [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProbabilityOfDefaultAxis" xlink:to="label_ProbabilityOfDefaultAxis" xlink:title="label: ProbabilityOfDefaultAxis to label_ProbabilityOfDefaultAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForProbabilityOfDefaultMember" xlink:label="EntitysTotalForProbabilityOfDefaultMember" xlink:title="EntitysTotalForProbabilityOfDefaultMember"/>
    <label xlink:type="resource" xlink:label="label_EntitysTotalForProbabilityOfDefaultMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForProbabilityOfDefaultMember" xml:lang="en-US" id="label_EntitysTotalForProbabilityOfDefaultMember">Entity's total for probability of default [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="label_EntitysTotalForProbabilityOfDefaultMember" xlink:title="label: EntitysTotalForProbabilityOfDefaultMember to label_EntitysTotalForProbabilityOfDefaultMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:label="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:title="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory">Description of accounting policy for financial liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory to label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xml:lang="en-US" id="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_2">Financial assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_2" xlink:title="label: DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory to label_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:label="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities">Historical volatility for shares, significant unobservable inputs, liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:to="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="label: HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities to label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities_2">Weighted average expected volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:to="label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities_2" xlink:title="label: HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities to label_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateSignificantUnobservableInputsLiabilities" xlink:label="InterestRateSignificantUnobservableInputsLiabilities" xlink:title="InterestRateSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_InterestRateSignificantUnobservableInputsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_InterestRateSignificantUnobservableInputsLiabilities">Interest rate, significant unobservable inputs, liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateSignificantUnobservableInputsLiabilities" xlink:to="label_InterestRateSignificantUnobservableInputsLiabilities" xlink:title="label: InterestRateSignificantUnobservableInputsLiabilities to label_InterestRateSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_InterestRateSignificantUnobservableInputsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestRateSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_InterestRateSignificantUnobservableInputsLiabilities_2">Risk free rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateSignificantUnobservableInputsLiabilities" xlink:to="label_InterestRateSignificantUnobservableInputsLiabilities_2" xlink:title="label: InterestRateSignificantUnobservableInputsLiabilities to label_InterestRateSignificantUnobservableInputsLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:label="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <label xlink:type="resource" xlink:label="label_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationTechniquesUsedInFairValueMeasurementAxis" xml:lang="en-US" id="label_ValuationTechniquesUsedInFairValueMeasurementAxis">Valuation techniques used in fair value measurement [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="label_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="label: ValuationTechniquesUsedInFairValueMeasurementAxis to label_ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesMember" xlink:label="ValuationTechniquesMember" xlink:title="ValuationTechniquesMember"/>
    <label xlink:type="resource" xlink:label="label_ValuationTechniquesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationTechniquesMember" xml:lang="en-US" id="label_ValuationTechniquesMember">Valuation techniques [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationTechniquesMember" xlink:to="label_ValuationTechniquesMember" xlink:title="label: ValuationTechniquesMember to label_ValuationTechniquesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeApproachMember" xlink:label="IncomeApproachMember" xlink:title="IncomeApproachMember"/>
    <label xlink:type="resource" xlink:label="label_IncomeApproachMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeApproachMember" xml:lang="en-US" id="label_IncomeApproachMember">Income approach [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeApproachMember" xlink:to="label_IncomeApproachMember" xlink:title="label: IncomeApproachMember to label_IncomeApproachMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OptionPricingModelMember" xlink:label="OptionPricingModelMember" xlink:title="OptionPricingModelMember"/>
    <label xlink:type="resource" xlink:label="label_OptionPricingModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OptionPricingModelMember" xml:lang="en-US" id="label_OptionPricingModelMember">Option pricing model [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionPricingModelMember" xlink:to="label_OptionPricingModelMember" xlink:title="label: OptionPricingModelMember to label_OptionPricingModelMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:label="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeLifeSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_DerivativeLifeSignificantUnobservableInputsLiabilities">Derivative Life Significant Unobservable Inputs Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:to="label_DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="label: DerivativeLifeSignificantUnobservableInputsLiabilities to label_DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_DerivativeLifeSignificantUnobservableInputsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DerivativeLifeSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_DerivativeLifeSignificantUnobservableInputsLiabilities_2">The derivative life used as a significant Level 3 unobservable input for liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:to="label_DerivativeLifeSignificantUnobservableInputsLiabilities_2" xlink:title="label: DerivativeLifeSignificantUnobservableInputsLiabilities to label_DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_DerivativeLifeSignificantUnobservableInputsLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeLifeSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_DerivativeLifeSignificantUnobservableInputsLiabilities_3">Expected life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:to="label_DerivativeLifeSignificantUnobservableInputsLiabilities_3" xlink:title="label: DerivativeLifeSignificantUnobservableInputsLiabilities to label_DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:label="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="ExpectedDividendYieldSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities">The expected dividend yield  used as a significant Level 3 unobservable input for liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:to="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="label: ExpectedDividendYieldSignificantUnobservableInputsLiabilities to label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities"/>
    <label xlink:type="resource" xlink:label="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xml:lang="en-US" id="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities_2">Expected Dividend Yield Significant Unobservable Inputs Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:to="label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities_2" xlink:title="label: ExpectedDividendYieldSignificantUnobservableInputsLiabilities to label_ExpectedDividendYieldSignificantUnobservableInputsLiabilities"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BlackScholesOptionPricingModelMember" xlink:label="BlackScholesOptionPricingModelMember" xlink:title="BlackScholesOptionPricingModelMember"/>
    <label xlink:type="resource" xlink:label="label_BlackScholesOptionPricingModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BlackScholesOptionPricingModelMember" xml:lang="en-US" id="label_BlackScholesOptionPricingModelMember">Black Scholes Option Pricing Model [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BlackScholesOptionPricingModelMember" xlink:to="label_BlackScholesOptionPricingModelMember" xlink:title="label: BlackScholesOptionPricingModelMember to label_BlackScholesOptionPricingModelMember"/>
    <label xlink:type="resource" xlink:label="label_BlackScholesOptionPricingModelMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BlackScholesOptionPricingModelMember" xml:lang="en-US" id="label_BlackScholesOptionPricingModelMember_2">Black-Scholes option pricing model</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BlackScholesOptionPricingModelMember" xlink:to="label_BlackScholesOptionPricingModelMember_2" xlink:title="label: BlackScholesOptionPricingModelMember to label_BlackScholesOptionPricingModelMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageSharePrice" xlink:label="WeightedAverageSharePrice" xlink:title="WeightedAverageSharePrice"/>
    <label xlink:type="resource" xlink:label="label_WeightedAverageSharePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageSharePrice" xml:lang="en-US" id="label_WeightedAverageSharePrice">Weighted average share price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageSharePrice" xlink:to="label_WeightedAverageSharePrice" xlink:title="label: WeightedAverageSharePrice to label_WeightedAverageSharePrice"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementIIMember" xlink:label="HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="HamburgCommercialBankAGLoanAgreementIIMember"/>
    <label xlink:type="resource" xlink:label="label_HamburgCommercialBankAGLoanAgreementIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HamburgCommercialBankAGLoanAgreementIIMember" xml:lang="en-US" id="label_HamburgCommercialBankAGLoanAgreementIIMember">Hamburg Commercial Bank AG Loan AgreementII [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HamburgCommercialBankAGLoanAgreementIIMember" xlink:to="label_HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="label: HamburgCommercialBankAGLoanAgreementIIMember to label_HamburgCommercialBankAGLoanAgreementIIMember"/>
    <label xlink:type="resource" xlink:label="label_HamburgCommercialBankAGLoanAgreementIIMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HamburgCommercialBankAGLoanAgreementIIMember" xml:lang="en-US" id="label_HamburgCommercialBankAGLoanAgreementIIMember_2">Hamburg Commercial Bank AG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HamburgCommercialBankAGLoanAgreementIIMember" xlink:to="label_HamburgCommercialBankAGLoanAgreementIIMember_2" xlink:title="label: HamburgCommercialBankAGLoanAgreementIIMember to label_HamburgCommercialBankAGLoanAgreementIIMember"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="EntityExTransitionPeriod" xlink:title="EntityExTransitionPeriod"/>
    <label xlink:type="resource" xlink:label="label_EntityExTransitionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityExTransitionPeriod" xml:lang="en-US" id="label_EntityExTransitionPeriod">Entity Ex Transition Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityExTransitionPeriod" xlink:to="label_EntityExTransitionPeriod" xlink:title="label: EntityExTransitionPeriod to label_EntityExTransitionPeriod"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementIIMember" xlink:label="February2017PrivatePlacementIIMember" xlink:title="February2017PrivatePlacementIIMember"/>
    <label xlink:type="resource" xlink:label="label_February2017PrivatePlacementIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2017PrivatePlacementIIMember" xml:lang="en-US" id="label_February2017PrivatePlacementIIMember">February 2017 Private Placement II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017PrivatePlacementIIMember" xlink:to="label_February2017PrivatePlacementIIMember" xlink:title="label: February2017PrivatePlacementIIMember to label_February2017PrivatePlacementIIMember"/>
    <label xlink:type="resource" xlink:label="label_February2017PrivatePlacementIIMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2017PrivatePlacementIIMember" xml:lang="en-US" id="label_February2017PrivatePlacementIIMember_2">February 2017 Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2017PrivatePlacementIIMember" xlink:to="label_February2017PrivatePlacementIIMember_2" xlink:title="label: February2017PrivatePlacementIIMember to label_February2017PrivatePlacementIIMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedIIMember" xlink:label="FirmentTradingLimitedIIMember" xlink:title="FirmentTradingLimitedIIMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirmentTradingLimitedIIMember" xml:lang="en-US" id="label_FirmentTradingLimitedIIMember">Firment Trading Limited II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedIIMember" xlink:to="label_FirmentTradingLimitedIIMember" xlink:title="label: FirmentTradingLimitedIIMember to label_FirmentTradingLimitedIIMember"/>
    <label xlink:type="resource" xlink:label="label_FirmentTradingLimitedIIMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirmentTradingLimitedIIMember" xml:lang="en-US" id="label_FirmentTradingLimitedIIMember_2">Firment Trading Limited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirmentTradingLimitedIIMember" xlink:to="label_FirmentTradingLimitedIIMember_2" xlink:title="label: FirmentTradingLimitedIIMember to label_FirmentTradingLimitedIIMember"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleDebtIncludingEmbeddedDerivative" xlink:label="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="ConvertibleDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleDebtIncludingEmbeddedDerivative" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertibleDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_ConvertibleDebtIncludingEmbeddedDerivative">Convertible Debt Including Embedded Derivative</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleDebtIncludingEmbeddedDerivative" xlink:to="label_ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="label: ConvertibleDebtIncludingEmbeddedDerivative to label_ConvertibleDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleDebtIncludingEmbeddedDerivative_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertibleDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_ConvertibleDebtIncludingEmbeddedDerivative_2">Loan Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleDebtIncludingEmbeddedDerivative" xlink:to="label_ConvertibleDebtIncludingEmbeddedDerivative_2" xlink:title="label: ConvertibleDebtIncludingEmbeddedDerivative to label_ConvertibleDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleDebtIncludingEmbeddedDerivative_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConvertibleDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_ConvertibleDebtIncludingEmbeddedDerivative_3">Amount of convertible debt, including the amount of the embedded derivative component.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleDebtIncludingEmbeddedDerivative" xlink:to="label_ConvertibleDebtIncludingEmbeddedDerivative_3" xlink:title="label: ConvertibleDebtIncludingEmbeddedDerivative to label_ConvertibleDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_ConvertibleDebtIncludingEmbeddedDerivative_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ConvertibleDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_ConvertibleDebtIncludingEmbeddedDerivative_4">Interest bearing loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleDebtIncludingEmbeddedDerivative" xlink:to="label_ConvertibleDebtIncludingEmbeddedDerivative_4" xlink:title="label: ConvertibleDebtIncludingEmbeddedDerivative to label_ConvertibleDebtIncludingEmbeddedDerivative"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtIncludingEmbeddedDerivative" xlink:label="NetDebtIncludingEmbeddedDerivative" xlink:title="NetDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_NetDebtIncludingEmbeddedDerivative" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_NetDebtIncludingEmbeddedDerivative">Net Debt Including Embedded Derivative</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtIncludingEmbeddedDerivative" xlink:to="label_NetDebtIncludingEmbeddedDerivative" xlink:title="label: NetDebtIncludingEmbeddedDerivative to label_NetDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_NetDebtIncludingEmbeddedDerivative_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NetDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_NetDebtIncludingEmbeddedDerivative_2">Net debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtIncludingEmbeddedDerivative" xlink:to="label_NetDebtIncludingEmbeddedDerivative_2" xlink:title="label: NetDebtIncludingEmbeddedDerivative to label_NetDebtIncludingEmbeddedDerivative"/>
    <label xlink:type="resource" xlink:label="label_NetDebtIncludingEmbeddedDerivative_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetDebtIncludingEmbeddedDerivative" xml:lang="en-US" id="label_NetDebtIncludingEmbeddedDerivative_3">Net debt including embedded derivative component.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDebtIncludingEmbeddedDerivative" xlink:to="label_NetDebtIncludingEmbeddedDerivative_3" xlink:title="label: NetDebtIncludingEmbeddedDerivative to label_NetDebtIncludingEmbeddedDerivative"/>
  </labelLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>12
<FILENAME>glbs-20181231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0228 -->
<!--
Taxonomy Presentation Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 09:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2018 UBmatrix inc., All Rights Reserved
Produced on 2018-01-09 12:04:48
-->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://xbrl.sec.gov/dei/role/document/EntityInformation" xlink:type="simple" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#ent"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementCashFlows"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CashAndCashEquivalentsAndRestrictedCashDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShareDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TradeAccountsPayableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetImpairmentTableDetails"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementComprehensiveIncomeLoss"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementOfFinancialPosition"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#InventoriesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#PrepaymentsAndOtherAssetsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CashAndCashEquivalentsAndRestrictedCashTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#AccruedLiabilitiesAndOtherPayablesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity" xlink:type="simple" xlink:href="glbs-20181231.xsd#ConsolidatedStatementChangesInEquity"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationAndGeneralInformationTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationAndGeneralInformationDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetTableDetails"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumCommonSharesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumPreferredSharesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShareTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetDevoceanDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#AdministrativeExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsFutureMinimumPaymentsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsFutureMinimumReceivablesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DividendsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#DividendsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DividendsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#DividendsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/IncomeTaxDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#IncomeTaxDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#InterestExpenseAndFinanceCostsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPaymentDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPaymentTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DocumentAndEntityInformation" xlink:type="simple" xlink:href="glbs-20181231.xsd#DocumentAndEntityInformation"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetDVBLoanAgreementDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetKeltyLoanAgreementDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNetKeltyLoanAgreementDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FairValueMeasurementsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FairValueMeasurementsTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesTableDetails"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPolicies" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPolicies"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformation" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationAndGeneralInformation"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayables" xlink:type="simple" xlink:href="glbs-20181231.xsd#AccruedLiabilitiesAndOtherPayables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpenses" xlink:type="simple" xlink:href="glbs-20181231.xsd#AdministrativeExpenses"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesPolicy" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesPolicy"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCash" xlink:type="simple" xlink:href="glbs-20181231.xsd#CashAndCashEquivalentsAndRestrictedCash"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/Commitments" xlink:type="simple" xlink:href="glbs-20181231.xsd#Commitments"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/Contingencies" xlink:type="simple" xlink:href="glbs-20181231.xsd#Contingencies"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/Dividends" xlink:type="simple" xlink:href="glbs-20181231.xsd#Dividends"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShare" xlink:type="simple" xlink:href="glbs-20181231.xsd#EarningsLossPerShare"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/EventsAfterTheReportingPeriod" xlink:type="simple" xlink:href="glbs-20181231.xsd#EventsAfterTheReportingPeriod"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FairValue" xlink:type="simple" xlink:href="glbs-20181231.xsd#FairValue"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPolicies" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPolicies"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/IncomeTax" xlink:type="simple" xlink:href="glbs-20181231.xsd#IncomeTax"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCosts" xlink:type="simple" xlink:href="glbs-20181231.xsd#InterestExpenseAndFinanceCosts"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/Inventories" xlink:type="simple" xlink:href="glbs-20181231.xsd#Inventories"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtNet" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtNet"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssets" xlink:type="simple" xlink:href="glbs-20181231.xsd#PrepaymentsAndOtherAssets"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPayment" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPayment"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremium" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremium"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayable" xlink:type="simple" xlink:href="glbs-20181231.xsd#TradeAccountsPayable"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedParties" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedParties"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNet" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNet"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpenses" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpenses"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#SubsequentEventsDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#AccruedLiabilitiesAndOtherPayablesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPresentationTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#CashAndCashEquivalentsTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InventoriesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#InventoriesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#PrepaymentsAndOtherAssetsTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareCapitalAndSharePremiumTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#TransactionsWithRelatedPartiesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VesselsNetTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#VesselsNetTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#AdministrativeExpensesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/CommitmentsTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#CommitmentsTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/DividendsTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#DividendsTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FairValuesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#FairValuesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#FinancialRiskManagementObjectivesAndPoliciesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#InterestExpenseAndFinanceCostsTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LongTermDebtTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#LongTermDebtTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/LossPerShareTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#LossPerShareTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#ShareBasedPaymentTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesTables" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesTables"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTableDetails" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesTableDetails"/>
  <roleRef roleURI="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTextBlock" xlink:type="simple" xlink:href="glbs-20181231.xsd#BasisOfPreparationAndSignificantAccountingPoliciesTables"/>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashAndCashEquivalentsFairValueDisclosure" xlink:label="CashAndCashEquivalentsFairValueDisclosure" xlink:title="CashAndCashEquivalentsFairValueDisclosure"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="CashAndCashEquivalentsFairValueDisclosure" xlink:title="presentation: CashAndCashEquivalentsAbstract to CashAndCashEquivalentsFairValueDisclosure" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="UndrawnBorrowingFacilities" xlink:title="presentation: CashAndCashEquivalentsAbstract to UndrawnBorrowingFacilities" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="RestrictedCashAndCashEquivalents" xlink:title="presentation: CashAndCashEquivalentsAbstract to RestrictedCashAndCashEquivalents" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:label="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:title="RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:title="presentation: CashAndCashEquivalentsAbstract to RestrictedCashAndCashEquivalentsFairValueDisclosure" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RestrictedCashCollateralBreached" xlink:label="RestrictedCashCollateralBreached" xlink:title="RestrictedCashCollateralBreached"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="RestrictedCashCollateralBreached" xlink:title="presentation: CashAndCashEquivalentsAbstract to RestrictedCashCollateralBreached" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCash">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:title="DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:title="presentation: CashAndCashEquivalentsAbstract to DisclosureOfCashAndCashEquivalentsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCashAndBankBalancesExplanatory" xlink:label="DisclosureOfCashAndBankBalancesExplanatory" xlink:title="DisclosureOfCashAndBankBalancesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="DisclosureOfCashAndBankBalancesExplanatory" xlink:title="presentation: CashAndCashEquivalentsAbstract to DisclosureOfCashAndBankBalancesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherPayablesAbstract" xlink:label="TradeAndOtherPayablesAbstract" xlink:title="TradeAndOtherPayablesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TradeAndOtherPayablesAbstract" xlink:to="TradeAndOtherCurrentPayables" xlink:title="presentation: TradeAndOtherPayablesAbstract to TradeAndOtherCurrentPayables" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TradeAccountsPayable">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherPayablesAbstract" xlink:label="TradeAndOtherPayablesAbstract" xlink:title="TradeAndOtherPayablesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:label="DisclosureOfTradeAndOtherPayablesExplanatory" xlink:title="DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TradeAndOtherPayablesAbstract" xlink:to="DisclosureOfTradeAndOtherPayablesExplanatory" xlink:title="presentation: TradeAndOtherPayablesAbstract to DisclosureOfTradeAndOtherPayablesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to DisclosureOfTransactionsBetweenRelatedPartiesTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CyberonicaSAMember" xlink:label="CyberonicaSAMember" xlink:title="CyberonicaSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="CyberonicaSAMember" xlink:title="presentation: RelatedPartiesMember to CyberonicaSAMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to DisclosureOfTransactionsBetweenRelatedPartiesLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyRentalExpense" xlink:label="MonthlyRentalExpense" xlink:title="MonthlyRentalExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="MonthlyRentalExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to MonthlyRentalExpense" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeasesAsLesseeRelatedPartyTransactions" xlink:label="LeasesAsLesseeRelatedPartyTransactions" xlink:title="LeasesAsLesseeRelatedPartyTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LeasesAsLesseeRelatedPartyTransactions" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LeasesAsLesseeRelatedPartyTransactions" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="AverageForeignExchangeRate" xlink:title="AverageForeignExchangeRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AverageForeignExchangeRate" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AverageForeignExchangeRate" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/IncomeTaxDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="TaxExpenseOtherThanIncomeTaxExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="presentation: MajorComponentsOfTaxExpenseIncomeAbstract to TaxExpenseOtherThanIncomeTaxExpense" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/IncomeTax">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="DisclosureOfIncomeTaxExplanatory" xlink:title="DisclosureOfIncomeTaxExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="DisclosureOfIncomeTaxExplanatory" xlink:title="presentation: MajorComponentsOfTaxExpenseIncomeAbstract to DisclosureOfIncomeTaxExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/DocumentAndEntityInformation">
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DocumentEntityInformationAbstract" xlink:label="DocumentEntityInformationAbstract" xlink:title="DocumentEntityInformationAbstract"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityRegistrantName" xlink:title="presentation: DocumentEntityInformationAbstract to EntityRegistrantName" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="TradingSymbol" xlink:title="presentation: DocumentEntityInformationAbstract to TradingSymbol" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityCentralIndexKey" xlink:title="presentation: DocumentEntityInformationAbstract to EntityCentralIndexKey" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="DocumentType" xlink:title="presentation: DocumentEntityInformationAbstract to DocumentType" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="DocumentPeriodEndDate" xlink:title="presentation: DocumentEntityInformationAbstract to DocumentPeriodEndDate" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="AmendmentFlag" xlink:title="presentation: DocumentEntityInformationAbstract to AmendmentFlag" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="DocumentFiscalYearFocus" xlink:title="presentation: DocumentEntityInformationAbstract to DocumentFiscalYearFocus" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="DocumentFiscalPeriodFocus" xlink:title="presentation: DocumentEntityInformationAbstract to DocumentFiscalPeriodFocus" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="CurrentFiscalYearEndDate" xlink:title="presentation: DocumentEntityInformationAbstract to CurrentFiscalYearEndDate" use="optional" order="9.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="EntityWellKnownSeasonedIssuer" xlink:title="EntityWellKnownSeasonedIssuer"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityWellKnownSeasonedIssuer" xlink:title="presentation: DocumentEntityInformationAbstract to EntityWellKnownSeasonedIssuer" use="optional" order="10.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="EntityVoluntaryFilers" xlink:title="EntityVoluntaryFilers"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityVoluntaryFilers" xlink:title="presentation: DocumentEntityInformationAbstract to EntityVoluntaryFilers" use="optional" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityCurrentReportingStatus" xlink:title="presentation: DocumentEntityInformationAbstract to EntityCurrentReportingStatus" use="optional" order="12.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityFilerCategory" xlink:title="presentation: DocumentEntityInformationAbstract to EntityFilerCategory" use="optional" order="13.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityCommonStockSharesOutstanding" xlink:title="presentation: DocumentEntityInformationAbstract to EntityCommonStockSharesOutstanding" use="optional" order="17.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityEmergingGrowthCompany" xlink:title="presentation: DocumentEntityInformationAbstract to EntityEmergingGrowthCompany" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityShellCompany" xlink:label="EntityShellCompany" xlink:title="EntityShellCompany"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityShellCompany" xlink:title="presentation: DocumentEntityInformationAbstract to EntityShellCompany" order="15.0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="EntityExTransitionPeriod" xlink:title="EntityExTransitionPeriod"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DocumentEntityInformationAbstract" xlink:to="EntityExTransitionPeriod" xlink:title="presentation: DocumentEntityInformationAbstract to EntityExTransitionPeriod" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPolicies">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:label="DisclosureOfFinancialRiskManagementExplanatory" xlink:title="DisclosureOfFinancialRiskManagementExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfFinancialRiskManagementExplanatory" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfFinancialRiskManagementExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FairValue">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:label="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:title="DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:label="DisclosureOfFairValueMeasurementExplanatory" xlink:title="DisclosureOfFairValueMeasurementExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="DisclosureOfFairValueMeasurementExplanatory" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsAbstract to DisclosureOfFairValueMeasurementExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformation">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:title="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesAbstract to DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesAbstract to DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPolicies">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesPolicy">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:title="DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForRecognitionOfRevenue" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:title="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:title="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="DescriptionOfAccountingPolicyForMeasuringInventories" xlink:title="DescriptionOfAccountingPolicyForMeasuringInventories"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForMeasuringInventories" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForMeasuringInventories" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:title="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:label="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:title="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:label="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:title="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:label="DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:title="DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForLeasesExplanatory" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:title="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:title="DescriptionOfAccountingPolicyForBorrowingsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForBorrowingsExplanatory" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:label="DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:title="DescriptionOfAccountingPolicyForFinanceCostsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForFinanceCostsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForFinanceCostsExplanatory" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:label="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:title="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:title="DescriptionOfAccountingPolicyForSegmentReportingExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForSegmentReportingExplanatory" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:title="DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForProvisionsExplanatory" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTerminationBenefits" xlink:label="DescriptionOfAccountingPolicyForTerminationBenefits" xlink:title="DescriptionOfAccountingPolicyForTerminationBenefits"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForTerminationBenefits" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForTerminationBenefits" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory" order="20.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:label="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:title="DescriptionOfAccountingPolicyForLesseeExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForLesseeExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForLesseeExplanatory" order="22.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyForLessorExplanatory" xlink:label="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:title="DescriptionOfAccountingPolicyForLessorExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForLessorExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForLessorExplanatory" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts" xlink:label="DescriptionOfAccountingPolicyForInsuranceContracts" xlink:title="DescriptionOfAccountingPolicyForInsuranceContracts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForInsuranceContracts" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForInsuranceContracts" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:title="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:title="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:label="DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:title="DescriptionOfAccountingPolicyForDividendsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForDividendsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForDividendsExplanatory" order="27.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:label="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:title="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" order="28.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:label="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:title="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" order="29.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:label="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:title="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements" order="30.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:label="DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:title="DescriptionOfInitialApplicationOfStandardsOrInterpretations"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfInitialApplicationOfStandardsOrInterpretations" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfInitialApplicationOfStandardsOrInterpretations" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGoingConcernExplanatory" xlink:label="DisclosureOfGoingConcernExplanatory" xlink:title="DisclosureOfGoingConcernExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DisclosureOfGoingConcernExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DisclosureOfGoingConcernExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:label="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:title="DisclosureOfAccountingJudgementsAndEstimatesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DisclosureOfAccountingJudgementsAndEstimatesExplanatory" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:label="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:title="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" order="32.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:label="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:title="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedParties">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCompensationOfNonExecutiveDirectors" xlink:label="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:title="DisclosureOfCompensationOfNonExecutiveDirectors"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfCompensationOfNonExecutiveDirectors" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfCompensationOfNonExecutiveDirectors" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCompensationOfExecutiveDirector" xlink:label="DisclosureOfCompensationOfExecutiveDirector" xlink:title="DisclosureOfCompensationOfExecutiveDirector"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfCompensationOfExecutiveDirector" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfCompensationOfExecutiveDirector" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNet">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfPropertyPlantAndEquipmentExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:label="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:title="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfImpairmentOfAssetsExplanatory" xlink:label="DisclosureOfImpairmentOfAssetsExplanatory" xlink:title="DisclosureOfImpairmentOfAssetsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfImpairmentOfAssetsExplanatory" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfImpairmentOfAssetsExplanatory" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/Inventories">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ClassesOfInventoriesAbstract" xlink:title="ClassesOfInventoriesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="DisclosureOfInventoriesExplanatory" xlink:title="DisclosureOfInventoriesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="DisclosureOfInventoriesExplanatory" xlink:title="presentation: ClassesOfInventoriesAbstract to DisclosureOfInventoriesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InventoriesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ClassesOfInventoriesAbstract" xlink:title="ClassesOfInventoriesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="presentation: ClassesOfInventoriesAbstract to DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssets">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentAssetsAbstract" xlink:label="MiscellaneousCurrentAssetsAbstract" xlink:title="MiscellaneousCurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:label="DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:title="DisclosureOfPrepaymentsAndOtherAssetsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="DisclosureOfPrepaymentsAndOtherAssetsExplanatory" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to DisclosureOfPrepaymentsAndOtherAssetsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentAssetsAbstract" xlink:label="MiscellaneousCurrentAssetsAbstract" xlink:title="MiscellaneousCurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentLiabilitiesAbstract" xlink:label="MiscellaneousCurrentLiabilitiesAbstract" xlink:title="MiscellaneousCurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:label="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:title="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentLiabilitiesAbstract" xlink:label="MiscellaneousCurrentLiabilitiesAbstract" xlink:title="MiscellaneousCurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:label="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremium">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:label="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:title="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:label="DisclosureOfClassesOfShareCapitalExplanatory" xlink:title="DisclosureOfClassesOfShareCapitalExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfClassesOfShareCapitalExplanatory" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfClassesOfShareCapitalExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCommonSharesExplanatory" xlink:label="DisclosureOfCommonSharesExplanatory" xlink:title="DisclosureOfCommonSharesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfCommonSharesExplanatory" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfCommonSharesExplanatory" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfPreferredSharesExplanatory" xlink:label="DisclosureOfPreferredSharesExplanatory" xlink:title="DisclosureOfPreferredSharesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfPreferredSharesExplanatory" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfPreferredSharesExplanatory" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShare">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:label="DisclosureOfEarningsPerShareExplanatory" xlink:title="DisclosureOfEarningsPerShareExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="DisclosureOfEarningsPerShareExplanatory" xlink:title="presentation: EarningsPerShareAbstract to DisclosureOfEarningsPerShareExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNet">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="DisclosureOfBorrowingsExplanatory" xlink:title="DisclosureOfBorrowingsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfBorrowingsExplanatory" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfBorrowingsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPayment">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:title="DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to DisclosureOfSharebasedPaymentArrangementsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpenses">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory" xlink:label="DisclosureOfOtherOperatingExpenseExplanatory" xlink:title="DisclosureOfOtherOperatingExpenseExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="DisclosureOfOtherOperatingExpenseExplanatory" xlink:title="presentation: ExpenseByNatureAbstract to DisclosureOfOtherOperatingExpenseExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AdministrativeExpenses">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract" xlink:label="SellingGeneralAndAdministrativeExpenseAbstract" xlink:title="SellingGeneralAndAdministrativeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:title="DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to DisclosureOfGeneralAndAdministrativeExpenseExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCosts">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestCostsAbstract" xlink:label="InterestCostsAbstract" xlink:title="InterestCostsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInterestExpenseExplanatory" xlink:label="DisclosureOfInterestExpenseExplanatory" xlink:title="DisclosureOfInterestExpenseExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="DisclosureOfInterestExpenseExplanatory" xlink:title="presentation: InterestCostsAbstract to DisclosureOfInterestExpenseExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/Dividends">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousLiabilitiesAbstract" xlink:label="MiscellaneousLiabilitiesAbstract" xlink:title="MiscellaneousLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDividendsExplanatory" xlink:label="DisclosureOfDividendsExplanatory" xlink:title="DisclosureOfDividendsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousLiabilitiesAbstract" xlink:to="DisclosureOfDividendsExplanatory" xlink:title="presentation: MiscellaneousLiabilitiesAbstract to DisclosureOfDividendsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/Contingencies">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfContingentLiabilitiesAbstract" xlink:label="DisclosureOfContingentLiabilitiesAbstract" xlink:title="DisclosureOfContingentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfContingentLiabilitiesExplanatory" xlink:label="DisclosureOfContingentLiabilitiesExplanatory" xlink:title="DisclosureOfContingentLiabilitiesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfContingentLiabilitiesAbstract" xlink:to="DisclosureOfContingentLiabilitiesExplanatory" xlink:title="presentation: DisclosureOfContingentLiabilitiesAbstract to DisclosureOfContingentLiabilitiesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/Commitments">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCommitmentsExplanatory" xlink:label="DisclosureOfCommitmentsExplanatory" xlink:title="DisclosureOfCommitmentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="DisclosureOfCommitmentsExplanatory" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to DisclosureOfCommitmentsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EventsAfterTheReportingPeriod">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:title="DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract to DisclosureOfEventsAfterReportingPeriodExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LossPerShareTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfEarningsPerShareTableExplanatory" xlink:label="DisclosureOfEarningsPerShareTableExplanatory" xlink:title="DisclosureOfEarningsPerShareTableExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="DisclosureOfEarningsPerShareTableExplanatory" xlink:title="presentation: EarningsPerShareAbstract to DisclosureOfEarningsPerShareTableExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:label="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:title="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:label="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:title="DisclosureOfLongTermDebtAnnualPrincipalPayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfLongTermDebtAnnualPrincipalPayments" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfLongTermDebtAnnualPrincipalPayments" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfShareBasedPayment" xlink:label="DisclosureOfShareBasedPaymentTable" xlink:title="DisclosureOfShareBasedPaymentTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="DisclosureOfShareBasedPaymentTable" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to DisclosureOfShareBasedPaymentTable" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfVoyageAndVesselOperatingExpenses" xlink:label="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:title="DisclosureOfVoayageAndVesselOperatingExpenses"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="DisclosureOfVoayageAndVesselOperatingExpenses" xlink:title="presentation: ExpenseByNatureAbstract to DisclosureOfVoayageAndVesselOperatingExpenses" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract" xlink:label="SellingGeneralAndAdministrativeExpenseAbstract" xlink:title="SellingGeneralAndAdministrativeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfAdministrativeExpenses" xlink:label="DisclosureOfAdministrativeExpenses" xlink:title="DisclosureOfAdministrativeExpenses"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="DisclosureOfAdministrativeExpenses" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to DisclosureOfAdministrativeExpenses" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestCostsAbstract" xlink:label="InterestCostsAbstract" xlink:title="InterestCostsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:label="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:title="DisclosureOfInterestExpenseAndFinanceCostsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="DisclosureOfInterestExpenseAndFinanceCostsExplanatory" xlink:title="presentation: InterestCostsAbstract to DisclosureOfInterestExpenseAndFinanceCostsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/DividendsTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousLiabilitiesAbstract" xlink:label="MiscellaneousLiabilitiesAbstract" xlink:title="MiscellaneousLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfDividends" xlink:label="DisclosureOfDividendsExplanatory" xlink:title="DisclosureOfDividendsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousLiabilitiesAbstract" xlink:to="DisclosureOfDividendsExplanatory" xlink:title="presentation: MiscellaneousLiabilitiesAbstract to DisclosureOfDividendsExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:label="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:title="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:label="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:title="DisclosureOfFutureMinimumLeasePaymentsExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="DisclosureOfFutureMinimumLeasePaymentsExplanatory" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to DisclosureOfFutureMinimumLeasePaymentsExplanatory" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfInterestRateRiskExplanatory" xlink:label="DisclosurOfInterestRateRiskExplanatory" xlink:title="DisclosurOfInterestRateRiskExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosurOfInterestRateRiskExplanatory" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosurOfInterestRateRiskExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfForeignCurrencyRiskExplanatory" xlink:label="DisclosureOfForeignCurrencyRiskExplanatory" xlink:title="DisclosureOfForeignCurrencyRiskExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfForeignCurrencyRiskExplanatory" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfForeignCurrencyRiskExplanatory" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:label="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:title="DisclosureOfConcentrationOfCreditRiskExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfConcentrationOfCreditRiskExplanatory" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfConcentrationOfCreditRiskExplanatory" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfCapitalManagementExplanatory" xlink:label="DisclosureOfCapitalManagementExplanatory" xlink:title="DisclosureOfCapitalManagementExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfCapitalManagementExplanatory" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfCapitalManagementExplanatory" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfManagingLiquidityRisk" xlink:label="DescriptionOfManagingLiquidityRisk" xlink:title="DescriptionOfManagingLiquidityRisk"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DescriptionOfManagingLiquidityRisk" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DescriptionOfManagingLiquidityRisk" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FairValuesTables">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:label="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:title="DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DisclosureOfFairValuesExplanatory" xlink:label="DisclosureOfFairValuesExplanatory" xlink:title="DisclosureOfFairValuesExplanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="DisclosureOfFairValuesExplanatory" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsAbstract to DisclosureOfFairValuesExplanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageExpenses" xlink:label="IncreaseDecreaseVoyageExpenses" xlink:title="IncreaseDecreaseVoyageExpenses"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="IncreaseDecreaseVoyageExpenses" xlink:title="presentation: ExpenseByNatureAbstract to IncreaseDecreaseVoyageExpenses" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueAbstract" xlink:label="RevenueAbstract" xlink:title="RevenueAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="RevenueFromRenderingOfServices" xlink:title="RevenueFromRenderingOfServices"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="RevenueFromRenderingOfServices" xlink:title="presentation: RevenueAbstract to RevenueFromRenderingOfServices" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="Revenue" xlink:title="Revenue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="Revenue" xlink:title="presentation: RevenueAbstract to Revenue" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaterialIncomeAndExpenseAbstract" xlink:label="MaterialIncomeAndExpenseAbstract" xlink:title="MaterialIncomeAndExpenseAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="MaterialIncomeAndExpenseAbstract" xlink:title="presentation: RevenueAbstract to MaterialIncomeAndExpenseAbstract" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="DepreciationExpense" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to DepreciationExpense" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfDryDockingCosts" xlink:label="DepreciationOfDryDockingCosts" xlink:title="DepreciationOfDryDockingCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="DepreciationOfDryDockingCosts" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to DepreciationOfDryDockingCosts" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="AmortisationExpense" xlink:title="AmortisationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="AmortisationExpense" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to AmortisationExpense" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="AdministrativeExpense" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to AdministrativeExpense" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdministrativeExpenseRelatedPartyTransactions" xlink:label="AdministrativeExpenseRelatedPartyTransactions" xlink:title="AdministrativeExpenseRelatedPartyTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="AdministrativeExpenseRelatedPartyTransactions" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to AdministrativeExpenseRelatedPartyTransactions" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:label="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="GainsLossesRecognisedWhenControlInSubsidiaryIsLost"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="GainsLossesRecognisedWhenControlInSubsidiaryIsLost" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to GainsLossesRecognisedWhenControlInSubsidiaryIsLost" use="optional" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="OtherOperatingIncomeExpense" xlink:title="OtherOperatingIncomeExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="OtherOperatingIncomeExpense" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to OtherOperatingIncomeExpense" use="optional" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ProfitLossFromOperatingActivities" xlink:title="ProfitLossFromOperatingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="ProfitLossFromOperatingActivities" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to ProfitLossFromOperatingActivities" use="optional" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromInterest" xlink:label="RevenueFromInterest" xlink:title="RevenueFromInterest"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="RevenueFromInterest" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to RevenueFromInterest" use="optional" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="FinanceCosts" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to FinanceCosts" use="optional" order="14.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" use="optional" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesExpense" xlink:label="ServicesExpense" xlink:title="ServicesExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="ServicesExpense" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to ServicesExpense" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to DirectorsCompensationSharebasedPayment" order="8.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to GainsLossesOnChangeInFairValueOfDerivatives" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OperatingExpense1" xlink:label="OperatingExpense_2" xlink:title="OperatingExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaterialIncomeAndExpenseAbstract" xlink:to="OperatingExpense_2" xlink:title="presentation: MaterialIncomeAndExpenseAbstract to OperatingExpense" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="ProfitLoss" xlink:title="presentation: RevenueAbstract to ProfitLoss" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="OtherComprehensiveIncome" xlink:title="presentation: RevenueAbstract to OtherComprehensiveIncome" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="ComprehensiveIncome" xlink:title="presentation: RevenueAbstract to ComprehensiveIncome" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:label="BasicAndDilutedEarningsPerShareAbstract" xlink:title="BasicAndDilutedEarningsPerShareAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="BasicAndDilutedEarningsPerShareAbstract" xlink:title="presentation: RevenueAbstract to BasicAndDilutedEarningsPerShareAbstract" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="BasicAndDilutedEarningsLossPerShare" xlink:title="BasicAndDilutedEarningsLossPerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BasicAndDilutedEarningsPerShareAbstract" xlink:to="BasicAndDilutedEarningsLossPerShare" xlink:title="presentation: BasicAndDilutedEarningsPerShareAbstract to BasicAndDilutedEarningsLossPerShare" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="BasicEarningsLossPerShare" xlink:title="BasicEarningsLossPerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BasicAndDilutedEarningsPerShareAbstract" xlink:to="BasicEarningsLossPerShare" xlink:title="presentation: BasicAndDilutedEarningsPerShareAbstract to BasicEarningsLossPerShare" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="DilutedEarningsLossPerShare" xlink:title="DilutedEarningsLossPerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BasicAndDilutedEarningsPerShareAbstract" xlink:to="DilutedEarningsLossPerShare" xlink:title="presentation: BasicAndDilutedEarningsPerShareAbstract to DilutedEarningsLossPerShare" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenueAbstract" xlink:to="FeeAndCommissionIncome" xlink:title="presentation: RevenueAbstract to FeeAndCommissionIncome" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="AssetsAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to AssetsAbstract" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="NoncurrentAssetsAbstract" xlink:title="NoncurrentAssetsAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="NoncurrentAssetsAbstract" xlink:title="presentation: AssetsAbstract to NoncurrentAssetsAbstract" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentAssetsAbstract" xlink:to="Ships" xlink:title="presentation: NoncurrentAssetsAbstract to Ships" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OfficeEquipment" xlink:label="OfficeEquipment" xlink:title="OfficeEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentAssetsAbstract" xlink:to="OfficeEquipment" xlink:title="presentation: NoncurrentAssetsAbstract to OfficeEquipment" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="NoncurrentAssets" xlink:title="NoncurrentAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentAssetsAbstract" xlink:to="NoncurrentAssets" xlink:title="presentation: NoncurrentAssetsAbstract to NoncurrentAssets" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="OtherNoncurrentAssets" xlink:title="OtherNoncurrentAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentAssetsAbstract" xlink:to="OtherNoncurrentAssets" xlink:title="presentation: NoncurrentAssetsAbstract to OtherNoncurrentAssets" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsAbstract" xlink:label="CurrentAssetsAbstract" xlink:title="CurrentAssetsAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="CurrentAssetsAbstract" xlink:title="presentation: AssetsAbstract to CurrentAssetsAbstract" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="TradeAndOtherCurrentReceivables" xlink:title="TradeAndOtherCurrentReceivables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="TradeAndOtherCurrentReceivables" xlink:title="presentation: CurrentAssetsAbstract to TradeAndOtherCurrentReceivables" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="Inventories" xlink:title="Inventories"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="Inventories" xlink:title="presentation: CurrentAssetsAbstract to Inventories" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="CurrentPrepaymentsAndOtherCurrentAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="presentation: CurrentAssetsAbstract to CurrentPrepaymentsAndOtherCurrentAssets" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="RestrictedCashAndCashEquivalents" xlink:title="presentation: CurrentAssetsAbstract to RestrictedCashAndCashEquivalents" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="CashAndCashEquivalents" xlink:title="presentation: CurrentAssetsAbstract to CashAndCashEquivalents" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="CurrentAssets" xlink:title="CurrentAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentAssetsAbstract" xlink:to="CurrentAssets" xlink:title="presentation: CurrentAssetsAbstract to CurrentAssets" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="Assets" xlink:title="presentation: AssetsAbstract to Assets" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="EquityAndLiabilitiesAbstract" xlink:title="EquityAndLiabilitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="EquityAndLiabilitiesAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to EquityAndLiabilitiesAbstract" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="EquityAbstract" xlink:title="presentation: EquityAndLiabilitiesAbstract to EquityAbstract" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAbstract" xlink:to="IssuedCapital" xlink:title="presentation: EquityAbstract to IssuedCapital" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremium" xlink:label="SharePremium" xlink:title="SharePremium"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAbstract" xlink:to="SharePremium" xlink:title="presentation: EquityAbstract to SharePremium" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="RetainedEarnings" xlink:title="RetainedEarnings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAbstract" xlink:to="RetainedEarnings" xlink:title="presentation: EquityAbstract to RetainedEarnings" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAbstract" xlink:to="Equity" xlink:title="presentation: EquityAbstract to Equity" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="NoncurrentLiabilitiesAbstract" xlink:title="NoncurrentLiabilitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="NoncurrentLiabilitiesAbstract" xlink:title="presentation: EquityAndLiabilitiesAbstract to NoncurrentLiabilitiesAbstract" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="LongtermBorrowings" xlink:title="presentation: NoncurrentLiabilitiesAbstract to LongtermBorrowings" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="NoncurrentProvisionsForEmployeeBenefits" xlink:title="NoncurrentProvisionsForEmployeeBenefits"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="NoncurrentProvisionsForEmployeeBenefits" xlink:title="presentation: NoncurrentLiabilitiesAbstract to NoncurrentProvisionsForEmployeeBenefits" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="NoncurrentLiabilities" xlink:title="NoncurrentLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="NoncurrentLiabilities" xlink:title="presentation: NoncurrentLiabilitiesAbstract to NoncurrentLiabilities" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="presentation: NoncurrentLiabilitiesAbstract to NoncurrentDerivativeFinancialLiabilities" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="CurrentLiabilitiesAbstract" xlink:title="CurrentLiabilitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="CurrentLiabilitiesAbstract" xlink:title="presentation: EquityAndLiabilitiesAbstract to CurrentLiabilitiesAbstract" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="presentation: CurrentLiabilitiesAbstract to CurrentPortionOfLongtermBorrowings" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="TradeAndOtherCurrentPayables" xlink:title="presentation: CurrentLiabilitiesAbstract to TradeAndOtherCurrentPayables" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="presentation: CurrentLiabilitiesAbstract to CurrentAccruedExpensesAndOtherCurrentLiabilities" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncome" xlink:label="DeferredIncome" xlink:title="DeferredIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="DeferredIncome" xlink:title="presentation: CurrentLiabilitiesAbstract to DeferredIncome" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="CurrentLiabilities" xlink:title="CurrentLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="CurrentLiabilities" xlink:title="presentation: CurrentLiabilitiesAbstract to CurrentLiabilities" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="CurrentDerivativeFinancialLiabilities" xlink:title="CurrentDerivativeFinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CurrentLiabilitiesAbstract" xlink:to="CurrentDerivativeFinancialLiabilities" xlink:title="presentation: CurrentLiabilitiesAbstract to CurrentDerivativeFinancialLiabilities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="Liabilities" xlink:title="presentation: EquityAndLiabilitiesAbstract to Liabilities" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="EquityAndLiabilities" xlink:title="presentation: EquityAndLiabilitiesAbstract to EquityAndLiabilities" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashOnHand" xlink:label="CashOnHand" xlink:title="CashOnHand"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="CashOnHand" xlink:title="presentation: CashAndCashEquivalentsAbstract to CashOnHand" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BalancesWithBanks" xlink:label="BalancesWithBanks" xlink:title="BalancesWithBanks"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="BalancesWithBanks" xlink:title="presentation: CashAndCashEquivalentsAbstract to BalancesWithBanks" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="ShorttermDepositsClassifiedAsCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="presentation: CashAndCashEquivalentsAbstract to ShorttermDepositsClassifiedAsCashEquivalents" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="CashAndCashEquivalents" xlink:title="presentation: CashAndCashEquivalentsAbstract to CashAndCashEquivalents" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="DepreciationPropertyPlantAndEquipment" xlink:title="DepreciationPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DepreciationPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DepreciationPropertyPlantAndEquipment" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DepreciationOfficeFurnitureAndEquipment" xlink:label="DepreciationOfficeFurnitureAndEquipment" xlink:title="DepreciationOfficeFurnitureAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DepreciationOfficeFurnitureAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DepreciationOfficeFurnitureAndEquipment" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DepreciationExpense" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DepreciationExpense" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ClassesOfInventoriesAbstract" xlink:title="ClassesOfInventoriesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LubricantsInventoryCurrent" xlink:label="LubricantsInventoryCurrent" xlink:title="LubricantsInventoryCurrent"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="LubricantsInventoryCurrent" xlink:title="presentation: ClassesOfInventoriesAbstract to LubricantsInventoryCurrent" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GasCylindersInventoryCurrent" xlink:label="GasCylindersInventoryCurrent" xlink:title="GasCylindersInventoryCurrent"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="GasCylindersInventoryCurrent" xlink:title="presentation: ClassesOfInventoriesAbstract to GasCylindersInventoryCurrent" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BunkerInventoryCurrent" xlink:label="BunkerInventoryCurrent" xlink:title="BunkerInventoryCurrent"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="BunkerInventoryCurrent" xlink:title="presentation: ClassesOfInventoriesAbstract to BunkerInventoryCurrent" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="Inventories" xlink:title="Inventories"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfInventoriesAbstract" xlink:to="Inventories" xlink:title="presentation: ClassesOfInventoriesAbstract to Inventories" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentAssetsAbstract" xlink:label="MiscellaneousCurrentAssetsAbstract" xlink:title="MiscellaneousCurrentAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestReceivable" xlink:label="CurrentInterestReceivable" xlink:title="CurrentInterestReceivable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="CurrentInterestReceivable" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to CurrentInterestReceivable" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAdvancesToSuppliers" xlink:label="CurrentAdvancesToSuppliers" xlink:title="CurrentAdvancesToSuppliers"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="CurrentAdvancesToSuppliers" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to CurrentAdvancesToSuppliers" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepayments" xlink:label="CurrentPrepayments" xlink:title="CurrentPrepayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="CurrentPrepayments" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to CurrentPrepayments" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="CurrentPrepaymentsAndOtherCurrentAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentAssetsAbstract" xlink:to="CurrentPrepaymentsAndOtherCurrentAssets" xlink:title="presentation: MiscellaneousCurrentAssetsAbstract to CurrentPrepaymentsAndOtherCurrentAssets" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousCurrentLiabilitiesAbstract" xlink:label="MiscellaneousCurrentLiabilitiesAbstract" xlink:title="MiscellaneousCurrentLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestPayable" xlink:label="CurrentInterestPayable" xlink:title="CurrentInterestPayable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="CurrentInterestPayable" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to CurrentInterestPayable" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedAuditFeesCurrent" xlink:label="AccruedAuditFeesCurrent" xlink:title="AccruedAuditFeesCurrent"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="AccruedAuditFeesCurrent" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to AccruedAuditFeesCurrent" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherAccruals" xlink:label="OtherAccruals" xlink:title="OtherAccruals"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="OtherAccruals" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to OtherAccruals" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentInsuranceDeductibles" xlink:label="CurrentInsuranceDeductibles" xlink:title="CurrentInsuranceDeductibles"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="CurrentInsuranceDeductibles" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to CurrentInsuranceDeductibles" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDividendPayables" xlink:label="CurrentDividendPayables" xlink:title="CurrentDividendPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="CurrentDividendPayables" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to CurrentDividendPayables" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentPayables" xlink:label="OtherCurrentPayables" xlink:title="OtherCurrentPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="OtherCurrentPayables" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to OtherCurrentPayables" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousCurrentLiabilitiesAbstract" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="presentation: MiscellaneousCurrentLiabilitiesAbstract to CurrentAccruedExpensesAndOtherCurrentLiabilities" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionExpense" xlink:label="FeeAndCommissionExpense" xlink:title="FeeAndCommissionExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="FeeAndCommissionExpense" xlink:title="presentation: ExpenseByNatureAbstract to FeeAndCommissionExpense" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FuelExpense" xlink:label="FuelExpense" xlink:title="FuelExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="FuelExpense" xlink:title="presentation: ExpenseByNatureAbstract to FuelExpense" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherVoyageExpense" xlink:label="OtherVoyageExpense" xlink:title="OtherVoyageExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="OtherVoyageExpense" xlink:title="presentation: ExpenseByNatureAbstract to OtherVoyageExpense" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesExpense" xlink:label="ServicesExpense" xlink:title="ServicesExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="ServicesExpense" xlink:title="presentation: ExpenseByNatureAbstract to ServicesExpense" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceExpense" xlink:label="InsuranceExpense" xlink:title="InsuranceExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="InsuranceExpense" xlink:title="presentation: ExpenseByNatureAbstract to InsuranceExpense" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepairsAndMaintenanceExpense" xlink:label="RepairsAndMaintenanceExpense" xlink:title="RepairsAndMaintenanceExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="RepairsAndMaintenanceExpense" xlink:title="presentation: ExpenseByNatureAbstract to RepairsAndMaintenanceExpense" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="RawMaterialsAndConsumablesUsed" xlink:title="RawMaterialsAndConsumablesUsed"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="RawMaterialsAndConsumablesUsed" xlink:title="presentation: ExpenseByNatureAbstract to RawMaterialsAndConsumablesUsed" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StoresExpense" xlink:label="StoresExpense" xlink:title="StoresExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="StoresExpense" xlink:title="presentation: ExpenseByNatureAbstract to StoresExpense" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="MiscellaneousOtherOperatingExpense" xlink:title="MiscellaneousOtherOperatingExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="MiscellaneousOtherOperatingExpense" xlink:title="presentation: ExpenseByNatureAbstract to MiscellaneousOtherOperatingExpense" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WagesAndSalaries" xlink:label="WagesAndSalaries" xlink:title="WagesAndSalaries"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="WagesAndSalaries" xlink:title="presentation: ExpenseByNatureAbstract to WagesAndSalaries" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OperatingExpense1" xlink:label="OperatingExpense_2" xlink:title="OperatingExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExpenseByNatureAbstract" xlink:to="OperatingExpense_2" xlink:title="presentation: ExpenseByNatureAbstract to OperatingExpense" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract" xlink:label="SellingGeneralAndAdministrativeExpenseAbstract" xlink:title="SellingGeneralAndAdministrativeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PersonnelExpense" xlink:label="PersonnelExpense" xlink:title="PersonnelExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="PersonnelExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to PersonnelExpense" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AuditorsRemuneration" xlink:label="AuditorsRemuneration" xlink:title="AuditorsRemuneration"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="AuditorsRemuneration" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to AuditorsRemuneration" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TravelExpense" xlink:label="TravelExpense" xlink:title="TravelExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="TravelExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to TravelExpense" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CommunicationExpense" xlink:label="CommunicationExpense" xlink:title="CommunicationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="CommunicationExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to CommunicationExpense" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StationeryExpense" xlink:label="StationeryExpense" xlink:title="StationeryExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="StationeryExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to StationeryExpense" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="TaxExpenseOtherThanIncomeTaxExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="TaxExpenseOtherThanIncomeTaxExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to TaxExpenseOtherThanIncomeTaxExpense" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="OtherExpenseByNature" xlink:title="OtherExpenseByNature"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="OtherExpenseByNature" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to OtherExpenseByNature" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="AdministrativeExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to AdministrativeExpense" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConsultingFeesExpense" xlink:label="ConsultingFeesExpense" xlink:title="ConsultingFeesExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SellingGeneralAndAdministrativeExpenseAbstract" xlink:to="ConsultingFeesExpense" xlink:title="presentation: SellingGeneralAndAdministrativeExpenseAbstract to ConsultingFeesExpense" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestCostsAbstract" xlink:label="InterestCostsAbstract" xlink:title="InterestCostsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="InterestExpense" xlink:title="presentation: InterestCostsAbstract to InterestExpense" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BankAndSimilarCharges" xlink:label="BankAndSimilarCharges" xlink:title="BankAndSimilarCharges"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="BankAndSimilarCharges" xlink:title="presentation: InterestCostsAbstract to BankAndSimilarCharges" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmortizationOfDebtDiscount" xlink:label="AmortizationOfDebtDiscount" xlink:title="AmortizationOfDebtDiscount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="AmortizationOfDebtDiscount" xlink:title="presentation: InterestCostsAbstract to AmortizationOfDebtDiscount" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinanceCost" xlink:label="OtherFinanceCost" xlink:title="OtherFinanceCost"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="OtherFinanceCost" xlink:title="presentation: InterestCostsAbstract to OtherFinanceCost" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InterestCostsAbstract" xlink:to="FinanceCosts" xlink:title="presentation: InterestCostsAbstract to FinanceCosts" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to CashFlowsFromUsedInOperatingActivitiesAbstract" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ProfitLoss" xlink:title="presentation: CashFlowsFromUsedInOperatingActivitiesAbstract to ProfitLoss" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="AdjustmentsForReconcileProfitLossAbstract" xlink:title="AdjustmentsForReconcileProfitLossAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="AdjustmentsForReconcileProfitLossAbstract" xlink:title="presentation: CashFlowsFromUsedInOperatingActivitiesAbstract to AdjustmentsForReconcileProfitLossAbstract" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="CashFlowsFromUsedInOperatingActivities" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to CashFlowsFromUsedInOperatingActivities" use="optional" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:label="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables" use="optional" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDepreciationExpense" xlink:label="AdjustmentsForDepreciationExpense" xlink:title="AdjustmentsForDepreciationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForDepreciationExpense" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForDepreciationExpense" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:label="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="AdjustmentsForAmortisationExpense" xlink:title="AdjustmentsForAmortisationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForAmortisationExpense" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForAmortisationExpense" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PaymentsOfDeferredDryDockingCosts" xlink:label="PaymentsOfDeferredDryDockingCosts" xlink:title="PaymentsOfDeferredDryDockingCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="PaymentsOfDeferredDryDockingCosts" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to PaymentsOfDeferredDryDockingCosts" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="AdjustmentsForProvisions" xlink:title="AdjustmentsForProvisions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForProvisions" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForProvisions" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForFinanceCosts" xlink:label="AdjustmentsForFinanceCosts" xlink:title="AdjustmentsForFinanceCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForFinanceCosts" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForFinanceCosts" use="optional" order="9.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="AdjustmentsForInterestIncome" xlink:title="AdjustmentsForInterestIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForInterestIncome" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForInterestIncome" use="optional" order="10.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForUnrealisedForeignExchangeLossesGains" use="optional" order="11.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="AdjustmentsForSharebasedPayments" xlink:title="AdjustmentsForSharebasedPayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForSharebasedPayments" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForSharebasedPayments" use="optional" order="12.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" use="optional" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:label="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForDecreaseIncreaseInOtherAssets" use="optional" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForIncreaseDecreaseInTradeAccountPayable" use="optional" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:label="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="AdjustmentsForIncreaseDecreaseInDeferredRevenue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForIncreaseDecreaseInDeferredRevenue" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForIncreaseDecreaseInDeferredRevenue" use="optional" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="AdjustmentsForDecreaseIncreaseInInventories"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForDecreaseIncreaseInInventories" use="optional" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:label="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:title="presentation: AdjustmentsForReconcileProfitLossAbstract to AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to CashFlowsFromUsedInInvestingActivitiesAbstract" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="presentation: CashFlowsFromUsedInInvestingActivitiesAbstract to CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="presentation: CashFlowsFromUsedInInvestingActivitiesAbstract to PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="InterestReceivedClassifiedAsInvestingActivities" xlink:title="InterestReceivedClassifiedAsInvestingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="InterestReceivedClassifiedAsInvestingActivities" xlink:title="presentation: CashFlowsFromUsedInInvestingActivitiesAbstract to InterestReceivedClassifiedAsInvestingActivities" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="CashFlowsFromUsedInInvestingActivities" xlink:title="presentation: CashFlowsFromUsedInInvestingActivitiesAbstract to CashFlowsFromUsedInInvestingActivities" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:title="presentation: CashFlowsFromUsedInInvestingActivitiesAbstract to PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to CashFlowsFromUsedInFinancingActivitiesAbstract" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to ProceedsFromBorrowingsClassifiedAsFinancingActivities" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" use="optional" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="DividendsPaidClassifiedAsFinancingActivities" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to DividendsPaidClassifiedAsFinancingActivities" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="InterestPaidClassifiedAsFinancingActivities" xlink:title="InterestPaidClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="InterestPaidClassifiedAsFinancingActivities" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to InterestPaidClassifiedAsFinancingActivities" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="CashFlowsFromUsedInFinancingActivities" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to CashFlowsFromUsedInFinancingActivities" use="optional" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ProceedsFromIssuingShares" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to ProceedsFromIssuingShares" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsForDebtIssueCosts" xlink:label="PaymentsForDebtIssueCosts" xlink:title="PaymentsForDebtIssueCosts"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="PaymentsForDebtIssueCosts" xlink:title="presentation: CashFlowsFromUsedInFinancingActivitiesAbstract to PaymentsForDebtIssueCosts" order="6.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="presentation: StatementOfCashFlowsAbstract to IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="presentation: StatementOfCashFlowsAbstract to EffectOfExchangeRateChangesOnCashAndCashEquivalents" use="optional" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashAndCashEquivalents" xlink:title="presentation: StatementOfCashFlowsAbstract to CashAndCashEquivalents" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashAndCashEquivalents" xlink:title="presentation: StatementOfCashFlowsAbstract to CashAndCashEquivalents" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="presentation: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanFiveYearsMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanThreeMonthsMember" xlink:label="NotLaterThanThreeMonthsMember" xlink:title="NotLaterThanThreeMonthsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanThreeMonthsMember" xlink:title="presentation: AggregatedTimeBandsMember to NotLaterThanThreeMonthsMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:label="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="LaterThanThreeMonthsAndNotLaterThanOneYearMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanThreeMonthsAndNotLaterThanOneYearMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:label="DisclosureOfFinancialLiabilitiesTable" xlink:title="DisclosureOfFinancialLiabilitiesTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfFinancialLiabilitiesTable" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfFinancialLiabilitiesTable" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="MaturityAxis" xlink:title="presentation: DisclosureOfFinancialLiabilitiesTable to MaturityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="DisclosureOfFinancialLiabilitiesLineItems" xlink:title="DisclosureOfFinancialLiabilitiesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="DisclosureOfFinancialLiabilitiesLineItems" xlink:title="presentation: DisclosureOfFinancialLiabilitiesTable to DisclosureOfFinancialLiabilitiesLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:label="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:title="presentation: DisclosureOfFinancialLiabilitiesLineItems to CurrentAccruedExpensesAndOtherCurrentLiabilities" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="TradeAndOtherCurrentPayables" xlink:title="presentation: DisclosureOfFinancialLiabilitiesLineItems to TradeAndOtherCurrentPayables" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="FinancialLiabilities" xlink:title="presentation: DisclosureOfFinancialLiabilitiesLineItems to FinancialLiabilities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="NoncurrentFinancialLiabilities" xlink:title="NoncurrentFinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="NoncurrentFinancialLiabilities" xlink:title="presentation: DisclosureOfFinancialLiabilitiesLineItems to NoncurrentFinancialLiabilities" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="Equity" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to Equity" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PropertyPlantAndEquipmentFairValueAdjustment" xlink:label="PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="PropertyPlantAndEquipmentFairValueAdjustment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="PropertyPlantAndEquipmentFairValueAdjustment" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to PropertyPlantAndEquipmentFairValueAdjustment" order="6.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapitalisation" xlink:label="AdjustedBookCapitalisation" xlink:title="AdjustedBookCapitalisation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="AdjustedBookCapitalisation" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to AdjustedBookCapitalisation" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdjustedBookCapiltaisationPlusNetDebt" xlink:label="AdjustedBookCapiltaisationPlusNetDebt" xlink:title="AdjustedBookCapiltaisationPlusNetDebt"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="AdjustedBookCapiltaisationPlusNetDebt" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to AdjustedBookCapiltaisationPlusNetDebt" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:label="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleDebtIncludingEmbeddedDerivative" xlink:label="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="ConvertibleDebtIncludingEmbeddedDerivative"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to ConvertibleDebtIncludingEmbeddedDerivative" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtIncludingEmbeddedDerivative" xlink:label="NetDebtIncludingEmbeddedDerivative" xlink:title="NetDebtIncludingEmbeddedDerivative"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="NetDebtIncludingEmbeddedDerivative" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to NetDebtIncludingEmbeddedDerivative" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="BorrowingsGross" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to BorrowingsGross" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDebt" xlink:label="NetDebt" xlink:title="NetDebt"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="NetDebt" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to NetDebt" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to Borrowings" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/positiveLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentUnamortisedDiscount" xlink:label="DebtInstrumentUnamortisedDiscount" xlink:title="DebtInstrumentUnamortisedDiscount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DebtInstrumentUnamortisedDiscount" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DebtInstrumentUnamortisedDiscount" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfEquityAxis" xlink:to="EquityMember" xlink:title="presentation: ComponentsOfEquityAxis to EquityMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="EquityAttributableToOwnersOfParentMember" xlink:title="EquityAttributableToOwnersOfParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityMember" xlink:to="EquityAttributableToOwnersOfParentMember" xlink:title="presentation: EquityMember to EquityAttributableToOwnersOfParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="IssuedCapitalMember" xlink:title="presentation: EquityAttributableToOwnersOfParentMember to IssuedCapitalMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="SharePremiumMember" xlink:title="presentation: EquityAttributableToOwnersOfParentMember to SharePremiumMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="RetainedEarningsMember" xlink:title="presentation: EquityAttributableToOwnersOfParentMember to RetainedEarningsMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComprehensiveIncome" xlink:to="ProfitLoss" xlink:title="presentation: ComprehensiveIncome to ProfitLoss" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComprehensiveIncome" xlink:to="OtherComprehensiveIncome" xlink:title="presentation: ComprehensiveIncome to OtherComprehensiveIncome" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="StatementOfChangesInEquityAbstract" xlink:title="StatementOfChangesInEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="StatementOfChangesInEquityTable" xlink:title="StatementOfChangesInEquityTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityAbstract" xlink:to="StatementOfChangesInEquityTable" xlink:title="presentation: StatementOfChangesInEquityAbstract to StatementOfChangesInEquityTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityTable" xlink:to="ComponentsOfEquityAxis" xlink:title="presentation: StatementOfChangesInEquityTable to ComponentsOfEquityAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="StatementOfChangesInEquityLineItems" xlink:title="StatementOfChangesInEquityLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityTable" xlink:to="StatementOfChangesInEquityLineItems" xlink:title="presentation: StatementOfChangesInEquityTable to StatementOfChangesInEquityLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="Equity" xlink:title="presentation: StatementOfChangesInEquityLineItems to Equity" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="presentation: StatementOfChangesInEquityLineItems to IncreaseDecreaseThroughSharebasedPaymentTransactions" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="DividendsPaid" xlink:title="presentation: StatementOfChangesInEquityLineItems to DividendsPaid" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="presentation: StatementOfChangesInEquityLineItems to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="IssueOfEquity" xlink:title="presentation: StatementOfChangesInEquityLineItems to IssueOfEquity" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="ComprehensiveIncome" xlink:title="presentation: StatementOfChangesInEquityLineItems to ComprehensiveIncome" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="StatementOfChangesInEquityLineItems" xlink:title="StatementOfChangesInEquityLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="Equity" xlink:title="presentation: StatementOfChangesInEquityLineItems to Equity" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOrdinarySharesMember" xlink:label="NumberOfOrdinarySharesMember" xlink:title="NumberOfOrdinarySharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="NumberOfOrdinarySharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to NumberOfOrdinarySharesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ComponentsOfEquityAxis" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ComponentsOfEquityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfEquityAxis" xlink:to="EquityMember" xlink:title="presentation: ComponentsOfEquityAxis to EquityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EquityMember" xlink:to="SharePremiumMember" xlink:title="presentation: EquityMember to SharePremiumMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ClassesOfShareCapitalAxis" order="2.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to CategoriesOfRelatedPartiesAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssued"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssued" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssued" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to IncreaseDecreaseThroughSharebasedPaymentTransactions" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/positiveLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to ClassesOfShareCapitalAxis" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to CategoriesOfRelatedPartiesAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to StockRedeemedDuringPeriodShares" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="presentation: DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to NumberOfSharesOutstanding" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to DisclosureOfTransactionsBetweenRelatedPartiesLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="DirectorsRemunerationExpense" xlink:title="DirectorsRemunerationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsRemunerationExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsRemunerationExpense" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensation" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensation" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsCompensationSharebasedPayment" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CyberonicaSAMember" xlink:label="CyberonicaSAMember" xlink:title="CyberonicaSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="CyberonicaSAMember" xlink:title="presentation: RelatedPartiesMember to CyberonicaSAMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonExecutiveDirectorsMember" xlink:label="NonExecutiveDirectorsMember" xlink:title="NonExecutiveDirectorsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="NonExecutiveDirectorsMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to NonExecutiveDirectorsMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExecutiveDirectorsMember" xlink:label="ExecutiveDirectorsMember" xlink:title="ExecutiveDirectorsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ExecutiveDirectorsMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to ExecutiveDirectorsMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="presentation: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AffiliatedCompanyOfCompanysCEOMember" xlink:label="AffiliatedCompanyOfCompanysCEOMember" xlink:title="AffiliatedCompanyOfCompanysCEOMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="AffiliatedCompanyOfCompanysCEOMember" xlink:title="presentation: OtherRelatedPartiesMember to AffiliatedCompanyOfCompanysCEOMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EolosShipmanagementSAMember" xlink:label="EolosShipmanagementSAMember" xlink:title="EolosShipmanagementSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="EolosShipmanagementSAMember" xlink:title="presentation: OtherRelatedPartiesMember to EolosShipmanagementSAMember" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentShippingIncMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to DisclosureOfTransactionsBetweenRelatedPartiesLineItems" use="optional" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyRentalExpense" xlink:label="MonthlyRentalExpense" xlink:title="MonthlyRentalExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="MonthlyRentalExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to MonthlyRentalExpense" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeasesAsLesseeRelatedPartyTransactions" xlink:label="LeasesAsLesseeRelatedPartyTransactions" xlink:title="LeasesAsLesseeRelatedPartyTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LeasesAsLesseeRelatedPartyTransactions" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LeasesAsLesseeRelatedPartyTransactions" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="DirectorsRemunerationExpense" xlink:title="DirectorsRemunerationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsRemunerationExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsRemunerationExpense" use="optional" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesHeldByControllingParty" xlink:label="NumberOfSharesHeldByControllingParty" xlink:title="NumberOfSharesHeldByControllingParty"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="NumberOfSharesHeldByControllingParty" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to NumberOfSharesHeldByControllingParty" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:label="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProportionOfOwnershipInterestsHeldByControllingParty" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_RentalAnnualIncreaseRateAboveInflation" xlink:label="RentalAnnualIncreaseRateAboveInflation" xlink:title="RentalAnnualIncreaseRateAboveInflation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="RentalAnnualIncreaseRateAboveInflation" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to RentalAnnualIncreaseRateAboveInflation" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="AmountsPayableRelatedPartyTransactions" xlink:title="AmountsPayableRelatedPartyTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AmountsPayableRelatedPartyTransactions" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AmountsPayableRelatedPartyTransactions" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:label="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityDrawndownAmountsMultiples" use="optional" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ShorttermBorrowings" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ShorttermBorrowings" use="optional" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="InterestExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to InterestExpense" use="optional" order="13.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to LineOfCreditFacilityDecreaseForgiveness" use="optional" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" use="optional" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to NumberOfSharesCalledByWarrants" use="optional" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ExercisePriceOfOutstandingWarrants" use="optional" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="20.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsMaturity" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsMaturity" use="optional" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsInterestRate" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsInterestRate" use="optional" order="22.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DailyConsultingFeeIncome" xlink:label="DailyConsultingFeeIncome" xlink:title="DailyConsultingFeeIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DailyConsultingFeeIncome" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DailyConsultingFeeIncome" use="optional" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="FeeAndCommissionIncome" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to FeeAndCommissionIncome" use="optional" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccruedDirectorsCompensation" xlink:label="AccruedDirectorsCompensation" xlink:title="AccruedDirectorsCompensation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="AccruedDirectorsCompensation" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to AccruedDirectorsCompensation" use="optional" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConsultingFeesExpense" xlink:label="ConsultingFeesExpense" xlink:title="ConsultingFeesExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ConsultingFeesExpense" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ConsultingFeesExpense" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to Borrowings" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ParValuePerShare" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ParValuePerShare" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProceedsFromIssuingShares" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="29.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="BorrowingsDefaultInterestRate" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to BorrowingsDefaultInterestRate" order="30.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleConversionPrice" order="31.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="32.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DebtInstrumentConvertibleConversionMultiplier" order="33.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to UndrawnBorrowingFacilities" use="optional" order="34.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementMember" xlink:label="February2017PrivatePlacementMember" xlink:title="February2017PrivatePlacementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacementMember" xlink:title="presentation: ClassesOfShareCapitalMember to February2017PrivatePlacementMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to RangeAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExecutiveDirectorsMember" xlink:label="ExecutiveDirectorsMember" xlink:title="ExecutiveDirectorsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ExecutiveDirectorsMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to ExecutiveDirectorsMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesTable to DisclosureOfTransactionsBetweenRelatedPartiesLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensation" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensation" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DirectorsCompensationSharebasedPayment" xlink:label="DirectorsCompensationSharebasedPayment" xlink:title="DirectorsCompensationSharebasedPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="DirectorsCompensationSharebasedPayment" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to DirectorsCompensationSharebasedPayment" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesLineItems to KeyManagementPersonnelCompensationShorttermEmployeeBenefits" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:title="presentation: DisclosureOfTransactionsBetweenRelatedPartiesAbstract to DisclosureOfTransactionsBetweenRelatedPartiesTable" use="optional" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="EarningsPerShareTable" xlink:title="presentation: EarningsPerShareAbstract to EarningsPerShareTable" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="EarningsPerShareLineItems" xlink:title="EarningsPerShareLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareTable" xlink:to="EarningsPerShareLineItems" xlink:title="presentation: EarningsPerShareTable to EarningsPerShareLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareLineItems" xlink:to="DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:title="presentation: EarningsPerShareLineItems to DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="SubsidiariesMember" xlink:title="presentation: RelatedPartiesMember to SubsidiariesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:label="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SubsidiariesMember" xlink:to="DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" xlink:title="presentation: SubsidiariesMember to DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:label="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="ArtfulShipholdingSALongevityMaritimeLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SubsidiariesMember" xlink:to="ArtfulShipholdingSALongevityMaritimeLimitedMember" xlink:title="presentation: SubsidiariesMember to ArtfulShipholdingSALongevityMaritimeLimitedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusMaritimeLtdMember" xlink:label="GlobusMaritimeLtdMember" xlink:title="GlobusMaritimeLtdMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SubsidiariesMember" xlink:to="GlobusMaritimeLtdMember" xlink:title="presentation: SubsidiariesMember to GlobusMaritimeLtdMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfDetailedInformationAboutBorrowingsTable" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to DisclosureOfDetailedInformationAboutBorrowingsLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongtermBorrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongtermBorrowings" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsGross" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsGross" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentUnamortisedDiscount" xlink:label="DebtInstrumentUnamortisedDiscount" xlink:title="DebtInstrumentUnamortisedDiscount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentUnamortisedDiscount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentUnamortisedDiscount" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfLongTermBorrowingsGross" xlink:label="CurrentPortionOfLongTermBorrowingsGross" xlink:title="CurrentPortionOfLongTermBorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongTermBorrowingsGross" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongTermBorrowingsGross" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermBorrowingsGross" xlink:label="LongTermBorrowingsGross" xlink:title="LongTermBorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongTermBorrowingsGross" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongTermBorrowingsGross" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:label="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="CurrentPortionOfDebtInstrumentUnamortisedDiscount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfDebtInstrumentUnamortisedDiscount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfDebtInstrumentUnamortisedDiscount" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongTermDebtInstrumentUnamortisedDiscount" xlink:label="LongTermDebtInstrumentUnamortisedDiscount" xlink:title="LongTermDebtInstrumentUnamortisedDiscount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongTermDebtInstrumentUnamortisedDiscount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongTermDebtInstrumentUnamortisedDiscount" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongtermBorrowings" use="optional" order="8.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CategoriesOfRelatedPartiesAxis" use="optional" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="presentation: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentShippingIncMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementIIMember" xlink:label="February2017PrivatePlacementIIMember" xlink:title="February2017PrivatePlacementIIMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacementIIMember" xlink:title="presentation: ClassesOfShareCapitalMember to February2017PrivatePlacementIIMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="presentation: RangesMember to WeightedAverageMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfDetailedInformationAboutBorrowingsTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to DisclosureOfDetailedInformationAboutBorrowingsLineItems" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" order="40.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LongtermBorrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LongtermBorrowings" use="optional" order="37.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFaceAmount" xlink:label="BorrowingsFaceAmount" xlink:title="BorrowingsFaceAmount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFaceAmount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFaceAmount" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPayable" xlink:label="InterestPayable" xlink:title="InterestPayable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="InterestPayable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to InterestPayable" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ManagementDailyFee" xlink:label="ManagementDailyFee" xlink:title="ManagementDailyFee"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ManagementDailyFee" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ManagementDailyFee" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="9.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:label="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorthToTotalAssetsRatio" order="20.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="22.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRateBasis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRateBasis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="BorrowingsAdjustmentToInterestRateBasis" xlink:title="BorrowingsAdjustmentToInterestRateBasis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsAdjustmentToInterestRateBasis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsAdjustmentToInterestRateBasis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:label="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LiquidityToConsolidatedIndebtednessRatio" xlink:label="LiquidityToConsolidatedIndebtednessRatio" xlink:title="LiquidityToConsolidatedIndebtednessRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LiquidityToConsolidatedIndebtednessRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LiquidityToConsolidatedIndebtednessRatio" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountOfEquityToBeRaised" xlink:label="AmountOfEquityToBeRaised" xlink:title="AmountOfEquityToBeRaised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountOfEquityToBeRaised" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountOfEquityToBeRaised" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountDeferredToTheBalloonPayment" xlink:label="AmountDeferredToTheBalloonPayment" xlink:title="AmountDeferredToTheBalloonPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountDeferredToTheBalloonPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountDeferredToTheBalloonPayment" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityDecreaseForgiveness" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ShorttermBorrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ShorttermBorrowings" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to NumberOfSharesCalledByWarrants" order="27.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ExercisePriceOfOutstandingWarrants" order="28.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRate" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRate" order="29.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDrawndownAmountsMultiples" xlink:label="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="LineOfCreditFacilityDrawndownAmountsMultiples"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityDrawndownAmountsMultiples" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityDrawndownAmountsMultiples" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to UndrawnBorrowingFacilities" order="30.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="31.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsDefaultInterestRate" xlink:label="BorrowingsDefaultInterestRate" xlink:title="BorrowingsDefaultInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsDefaultInterestRate" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsDefaultInterestRate" order="32.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to GainsLossesOnChangeInFairValueOfDerivatives" order="33.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleConversionPrice" order="34.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="35.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DebtInstrumentConvertibleConversionMultiplier" order="36.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProportionOfOwnershipInterestsHeldByControllingParty" xlink:label="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="ProportionOfOwnershipInterestsHeldByControllingParty"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProportionOfOwnershipInterestsHeldByControllingParty" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProportionOfOwnershipInterestsHeldByControllingParty" use="optional" order="38.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to NoncurrentDerivativeFinancialLiabilities" order="39.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CategoriesOfRelatedPartiesAxis" order="2.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to ClassesOfShareCapitalAxis" use="optional" order="4.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="presentation: RelatedPartiesMember to KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChiefExecutiveOfficerMember" xlink:label="ChiefExecutiveOfficerMember" xlink:title="ChiefExecutiveOfficerMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ChiefExecutiveOfficerMember" xlink:title="presentation: KeyManagementPersonnelOfEntityOrParentMember to ChiefExecutiveOfficerMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="presentation: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedMember" xlink:label="FirmentTradingLimitedMember" xlink:title="FirmentTradingLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentTradingLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentTradingLimitedMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedMember" xlink:label="SilanerInvestmentsLimitedMember" xlink:title="SilanerInvestmentsLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="SilanerInvestmentsLimitedMember" xlink:title="presentation: OtherRelatedPartiesMember to SilanerInvestmentsLimitedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" use="optional" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017PrivatePlacementMember" xlink:label="February2017PrivatePlacemenntMember" xlink:title="February2017PrivatePlacemenntMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017PrivatePlacemenntMember" xlink:title="presentation: ClassesOfShareCapitalMember to February2017PrivatePlacemenntMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017WarrantsMember" xlink:label="October2017WarrantsMember" xlink:title="October2017WarrantsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017WarrantsMember" xlink:title="presentation: ClassesOfShareCapitalMember to October2017WarrantsMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementMember" xlink:label="October2017SPAMember" xlink:title="October2017SPAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017SPAMember" xlink:title="presentation: ClassesOfShareCapitalMember to October2017SPAMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_February2017WarrantsMember" xlink:label="February2017WarrantsMember" xlink:title="February2017WarrantsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="February2017WarrantsMember" xlink:title="presentation: ClassesOfShareCapitalMember to February2017WarrantsMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesOutstandingMember" xlink:label="ClassBCommonSharesOutstandingMember" xlink:title="ClassBCommonSharesOutstandingMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="ClassBCommonSharesOutstandingMember" xlink:title="presentation: ClassesOfShareCapitalMember to ClassBCommonSharesOutstandingMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_October2017PrivatePlacementAfterReverseStockSplitsMember" xlink:label="October2017PrivatePlacementAfterReverseSplits" xlink:title="October2017PrivatePlacementAfterReverseSplits"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="October2017PrivatePlacementAfterReverseSplits" xlink:title="presentation: ClassesOfShareCapitalMember to October2017PrivatePlacementAfterReverseSplits" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="presentation: RangesMember to TopOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfClassesOfShareCapitalTable" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to DisclosureOfClassesOfShareCapitalLineItems" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharePremium" xlink:label="SharePremium" xlink:title="SharePremium"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="SharePremium" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to SharePremium" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ParValuePerShare" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ParValuePerShare" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesCalledByWarrants" xlink:label="NumberOfSharesCalledByWarrants" xlink:title="NumberOfSharesCalledByWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesCalledByWarrants" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesCalledByWarrants" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:label="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsOutstanding" xlink:label="WarrantsOutstanding" xlink:title="WarrantsOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="WarrantsOutstanding" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to WarrantsOutstanding" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfWarrantsExercised" xlink:label="NumberOfWarrantsExercised" xlink:title="NumberOfWarrantsExercised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfWarrantsExercised" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfWarrantsExercised" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExercisePriceOfOutstandingWarrants" xlink:label="ExercisePriceOfOutstandingWarrants" xlink:title="ExercisePriceOfOutstandingWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ExercisePriceOfOutstandingWarrants" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ExercisePriceOfOutstandingWarrants" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ProceedsFromWarrantExercises" xlink:label="ProceedsFromWarrantExercises" xlink:title="ProceedsFromWarrantExercises"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ProceedsFromWarrantExercises" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ProceedsFromWarrantExercises" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfSharesSold" xlink:label="NumberOfSharesSold" xlink:title="NumberOfSharesSold"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesSold" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesSold" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ProceedsFromIssuingShares" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfSharesOutstanding" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_WarrantsExpense" xlink:label="WarrantsExpense" xlink:title="WarrantsExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="WarrantsExpense" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to WarrantsExpense" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesOutstanding" use="optional" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VotingRights" xlink:label="VotingRights" xlink:title="VotingRights"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="VotingRights" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to VotingRights" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to Borrowings" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityDecreaseForgiveness" xlink:label="LineOfCreditFacilityDecreaseForgiveness" xlink:title="LineOfCreditFacilityDecreaseForgiveness"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="LineOfCreditFacilityDecreaseForgiveness" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to LineOfCreditFacilityDecreaseForgiveness" use="optional" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" order="22.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to RangeAxis" order="3.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to CategoriesOfRelatedPartiesAxis" use="optional" order="4.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="PreferenceSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to PreferenceSharesMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ClassBCommonSharesMember" xlink:label="ClassBCommonSharesMember" xlink:title="ClassBCommonSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="ClassBCommonSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to ClassBCommonSharesMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfClassesOfShareCapitalTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to DisclosureOfClassesOfShareCapitalLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ParValuePerShare" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ParValuePerShare" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesAuthorised" xlink:label="ValueOfSharesAuthorised" xlink:title="ValueOfSharesAuthorised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ValueOfSharesAuthorised" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ValueOfSharesAuthorised" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="NumberOfSharesAuthorised" xlink:title="NumberOfSharesAuthorised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesAuthorised" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesAuthorised" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfClassesOfShareCapitalTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to DisclosureOfClassesOfShareCapitalLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAbstract" xlink:label="NumberOfSharesIssuedAbstract" xlink:title="NumberOfSharesIssuedAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesIssuedAbstract" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesIssuedAbstract" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="NumberOfSharesIssuedAndFullyPaid" xlink:title="NumberOfSharesIssuedAndFullyPaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="NumberOfSharesIssuedAndFullyPaid" xlink:title="presentation: NumberOfSharesIssuedAbstract to NumberOfSharesIssuedAndFullyPaid" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" xlink:title="presentation: NumberOfSharesIssuedAbstract to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" xlink:title="presentation: NumberOfSharesIssuedAbstract to IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" xlink:title="presentation: NumberOfSharesIssuedAbstract to IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesIssuedAbstract" xlink:label="ValueOfSharesIssuedAbstract" xlink:title="ValueOfSharesIssuedAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ValueOfSharesIssuedAbstract" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ValueOfSharesIssuedAbstract" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IssuedCapital" xlink:title="presentation: ValueOfSharesIssuedAbstract to IssuedCapital" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="presentation: ValueOfSharesIssuedAbstract to IncreaseDecreaseThroughSharebasedPaymentTransactions" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:label="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:title="presentation: ValueOfSharesIssuedAbstract to IncreaseDecreaseThroughExerciseOfWarrantsEquity" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IssueOfEquity" xlink:title="presentation: ValueOfSharesIssuedAbstract to IssueOfEquity" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAbstract" xlink:label="NumberOfSharesIssuedAbstract" xlink:title="NumberOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="NumberOfSharesIssuedAndFullyPaid" xlink:title="NumberOfSharesIssuedAndFullyPaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="NumberOfSharesIssuedAndFullyPaid" xlink:title="presentation: NumberOfSharesIssuedAbstract to NumberOfSharesIssuedAndFullyPaid" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesIssuedAbstract" xlink:label="ValueOfSharesIssuedAbstract" xlink:title="ValueOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IssuedCapital" xlink:title="presentation: ValueOfSharesIssuedAbstract to IssuedCapital" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="PreferenceSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to PreferenceSharesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PreferenceSharesMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="presentation: PreferenceSharesMember to SeriesaPreferredSharesMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="DisclosureOfClassesOfShareCapitalTable" xlink:title="presentation: DisclosureOfClassesOfShareCapitalAbstract to DisclosureOfClassesOfShareCapitalTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="presentation: DisclosureOfClassesOfShareCapitalTable to DisclosureOfClassesOfShareCapitalLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAbstract" xlink:label="NumberOfSharesIssuedAbstract" xlink:title="NumberOfSharesIssuedAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="NumberOfSharesIssuedAbstract" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to NumberOfSharesIssuedAbstract" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="NumberOfSharesIssued" xlink:title="NumberOfSharesIssued"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="NumberOfSharesIssued" xlink:title="presentation: NumberOfSharesIssuedAbstract to NumberOfSharesIssued" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:label="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="IncreaseDecreaseInNumberOfPreferredSharesIssued"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="IncreaseDecreaseInNumberOfPreferredSharesIssued" xlink:title="presentation: NumberOfSharesIssuedAbstract to IncreaseDecreaseInNumberOfPreferredSharesIssued" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="presentation: NumberOfSharesIssuedAbstract to StockRedeemedDuringPeriodShares" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesIssuedAbstract" xlink:label="ValueOfSharesIssuedAbstract" xlink:title="ValueOfSharesIssuedAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ValueOfSharesIssuedAbstract" xlink:title="presentation: DisclosureOfClassesOfShareCapitalLineItems to ValueOfSharesIssuedAbstract" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IssuedCapital" xlink:title="presentation: ValueOfSharesIssuedAbstract to IssuedCapital" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodValue" xlink:label="StockRedeemedDuringPeriodValue" xlink:title="StockRedeemedDuringPeriodValue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="StockRedeemedDuringPeriodValue" xlink:title="presentation: ValueOfSharesIssuedAbstract to StockRedeemedDuringPeriodValue" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssuedAbstract" xlink:label="NumberOfSharesIssuedAbstract" xlink:title="NumberOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="NumberOfSharesIssued" xlink:title="NumberOfSharesIssued"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NumberOfSharesIssuedAbstract" xlink:to="NumberOfSharesIssued" xlink:title="presentation: NumberOfSharesIssuedAbstract to NumberOfSharesIssued" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ValueOfSharesIssuedAbstract" xlink:label="ValueOfSharesIssuedAbstract" xlink:title="ValueOfSharesIssuedAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValueOfSharesIssuedAbstract" xlink:to="IssuedCapital" xlink:title="presentation: ValueOfSharesIssuedAbstract to IssuedCapital" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="DividendsPaid" xlink:title="presentation: EarningsPerShareAbstract to DividendsPaid" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedNetLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:label="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="presentation: EarningsPerShareAbstract to ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageShares" xlink:label="WeightedAverageShares" xlink:title="WeightedAverageShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="WeightedAverageShares" xlink:title="presentation: EarningsPerShareAbstract to WeightedAverageShares" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="AdjustedWeightedAverageShares" xlink:title="AdjustedWeightedAverageShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="AdjustedWeightedAverageShares" xlink:title="presentation: EarningsPerShareAbstract to AdjustedWeightedAverageShares" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesAbstract to DisclosureOfSignificantInvestmentsInSubsidiariesTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesTable to SignificantInvestmentsInSubsidiariesAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="presentation: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdMember" xlink:label="DevoceanMaritimeLtdMember" xlink:title="DevoceanMaritimeLtdMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DevoceanMaritimeLtdMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DevoceanMaritimeLtdMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DominaMaritimeLtdMember" xlink:label="DominaMaritimeLtdMember" xlink:title="DominaMaritimeLtdMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DominaMaritimeLtdMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DominaMaritimeLtdMember" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DulacMaritimeSAMember" xlink:label="DulacMaritimeSAMember" xlink:title="DulacMaritimeSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DulacMaritimeSAMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DulacMaritimeSAMember" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_GlobusShipmanagementCorpMember" xlink:label="GlobusShipmanagementCorpMember" xlink:title="GlobusShipmanagementCorpMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="GlobusShipmanagementCorpMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to GlobusShipmanagementCorpMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ElysiumMaritimeLimitedMember" xlink:label="ElysiumMaritimeLimitedMember" xlink:title="ElysiumMaritimeLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="ElysiumMaritimeLimitedMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to ElysiumMaritimeLimitedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulShipholdingSAMember" xlink:label="ArtfulShipholdingSAMember" xlink:title="ArtfulShipholdingSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="ArtfulShipholdingSAMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to ArtfulShipholdingSAMember" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityMaritimeLimitedMember" xlink:label="LongevityMaritimeLimitedMember" xlink:title="LongevityMaritimeLimitedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="LongevityMaritimeLimitedMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to LongevityMaritimeLimitedMember" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesTable to DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="CountryOfIncorporationOrResidenceOfSubsidiary"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="CountryOfIncorporationOrResidenceOfSubsidiary" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to CountryOfIncorporationOrResidenceOfSubsidiary" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselDeliveryDate" xlink:label="VesselDeliveryDate" xlink:title="VesselDeliveryDate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="VesselDeliveryDate" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to VesselDeliveryDate" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="NameOfSubsidiary" xlink:title="NameOfSubsidiary"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="NameOfSubsidiary" xlink:title="presentation: DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to NameOfSubsidiary" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="presentation: RangesMember to WeightedAverageMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="presentation: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselOwningSubsidiariesMember" xlink:label="VesselOwningSubsidiariesMember" xlink:title="VesselOwningSubsidiariesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="VesselOwningSubsidiariesMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to VesselOwningSubsidiariesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="presentation: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DVBBankLoanAgreementMember" xlink:label="DVBBankLoanAgreementMember" xlink:title="DVBBankLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="DVBBankLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to DVBBankLoanAgreementMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:label="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to MacquarieBankInternationalLimitedLoanAgreementMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfDetailedInformationAboutBorrowingsTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to DisclosureOfDetailedInformationAboutBorrowingsLineItems" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" use="optional" order="22.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="6.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorthToTotalAssetsRatio" xlink:label="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="MarketAdjustedNetWorthToTotalAssetsRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorthToTotalAssetsRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorthToTotalAssetsRatio" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LoanPrincipalAmountDeferred" xlink:label="LoanPrincipalAmountDeferred" xlink:title="LoanPrincipalAmountDeferred"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LoanPrincipalAmountDeferred" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LoanPrincipalAmountDeferred" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BackEndFeePercentage" xlink:label="BackEndFeePercentage" xlink:title="BackEndFeePercentage"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BackEndFeePercentage" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BackEndFeePercentage" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="3.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="presentation: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="presentation: CreditFacilityMember to TrancheAMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="presentation: CreditFacilityMember to TrancheBMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheCMember" xlink:label="TrancheCMember" xlink:title="TrancheCMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheCMember" xlink:title="presentation: CreditFacilityMember to TrancheCMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAAndTrancheBMember" xlink:label="TrancheAAndTrancheBMember" xlink:title="TrancheAAndTrancheBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheAAndTrancheBMember" xlink:title="presentation: CreditFacilityMember to TrancheAAndTrancheBMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ArtfulAdvanceMember" xlink:label="ArtfulAdvanceMember" xlink:title="ArtfulAdvanceMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="ArtfulAdvanceMember" xlink:title="presentation: CreditFacilityMember to ArtfulAdvanceMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LongevityAdvanceMember" xlink:label="LongevityAdvanceMember" xlink:title="LongevityAdvanceMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="LongevityAdvanceMember" xlink:title="presentation: CreditFacilityMember to LongevityAdvanceMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to SignificantInvestmentsInSubsidiariesAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CreationDateAxis" xlink:label="CreationDateAxis" xlink:title="CreationDateAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreationDateAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CreationDateAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="DefaultFinancialStatementsDateMember" xlink:title="DefaultFinancialStatementsDateMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreationDateAxis" xlink:to="DefaultFinancialStatementsDateMember" xlink:title="presentation: CreationDateAxis to DefaultFinancialStatementsDateMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_JanuaryToJune2018Member" xlink:label="JanuaryToJune2018Member" xlink:title="JanuaryToJune2018Member"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DefaultFinancialStatementsDateMember" xlink:to="JanuaryToJune2018Member" xlink:title="presentation: DefaultFinancialStatementsDateMember to JanuaryToJune2018Member" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AfterJune2018Member" xlink:label="AfterJune2018Member" xlink:title="AfterJune2018Member"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DefaultFinancialStatementsDateMember" xlink:to="AfterJune2018Member" xlink:title="presentation: DefaultFinancialStatementsDateMember to AfterJune2018Member" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="WeightedAverageMember" xlink:title="presentation: RangesMember to WeightedAverageMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="presentation: RangesMember to TopOfRangeMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="EntitysTotalForSubsidiariesMember" xlink:title="presentation: SignificantInvestmentsInSubsidiariesAxis to EntitysTotalForSubsidiariesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DevoceanMaritimeLtdMember" xlink:label="DevoceanMaritimeLtdMember" xlink:title="DevoceanMaritimeLtdMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DevoceanMaritimeLtdMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DevoceanMaritimeLtdMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DominaMaritimeLtdMember" xlink:label="DominaMaritimeLtdMember" xlink:title="DominaMaritimeLtdMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DominaMaritimeLtdMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DominaMaritimeLtdMember" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DulacMaritimeSAMember" xlink:label="DulacMaritimeSAMember" xlink:title="DulacMaritimeSAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="DulacMaritimeSAMember" xlink:title="presentation: EntitysTotalForSubsidiariesMember to DulacMaritimeSAMember" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="presentation: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditSuisseAGLoanAgreementMember" xlink:label="CreditSuisseAGLoanAgreementMember" xlink:title="CreditSuisseAGLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="CreditSuisseAGLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to CreditSuisseAGLoanAgreementMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementMember" xlink:label="HamburgCommercialBankAGLoanAgreementMember" xlink:title="HamburgCommercialBankAGLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfDetailedInformationAboutBorrowingsTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to DisclosureOfDetailedInformationAboutBorrowingsLineItems" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="Borrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to Borrowings" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CurrentPortionOfLongtermBorrowings" order="22.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:label="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LineOfCreditFacilityMaximumBorrowingCapacity" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RepaymentsOfBorrowingsClassifiedAsFinancingActivities" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsNumberOfPeriodicPayments" xlink:label="BorrowingsNumberOfPeriodicPayments" xlink:title="BorrowingsNumberOfPeriodicPayments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsNumberOfPeriodicPayments" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsNumberOfPeriodicPayments" order="7.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsFrequencyOfPeriodicPayment" xlink:label="BorrowingsFrequencyOfPeriodicPayment" xlink:title="BorrowingsFrequencyOfPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsFrequencyOfPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsFrequencyOfPeriodicPayment" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPayment" xlink:label="BorrowingsPeriodicPayment" xlink:title="BorrowingsPeriodicPayment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPayment" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPayment" order="9.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsMaturity" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsMaturity" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MarketAdjustedNetWorth" xlink:label="MarketAdjustedNetWorth" xlink:title="MarketAdjustedNetWorth"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="MarketAdjustedNetWorth" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to MarketAdjustedNetWorth" order="18.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmountPerVessel" xlink:label="CompensatingBalanceAmountPerVessel" xlink:title="CompensatingBalanceAmountPerVessel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmountPerVessel" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmountPerVessel" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CompensatingBalanceAmount" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CompensatingBalanceAmount" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsInterestRateBasis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsInterestRateBasis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="BorrowingsAdjustmentToInterestRateBasis" xlink:title="BorrowingsAdjustmentToInterestRateBasis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsAdjustmentToInterestRateBasis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsAdjustmentToInterestRateBasis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:label="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to TotalLiabilitiesToMarketAdjustedTotalAssetsRatio" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LiquidityToConsolidatedIndebtednessRatio" xlink:label="LiquidityToConsolidatedIndebtednessRatio" xlink:title="LiquidityToConsolidatedIndebtednessRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LiquidityToConsolidatedIndebtednessRatio" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LiquidityToConsolidatedIndebtednessRatio" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AmountOfEquityToBeRaised" xlink:label="AmountOfEquityToBeRaised" xlink:title="AmountOfEquityToBeRaised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="AmountOfEquityToBeRaised" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to AmountOfEquityToBeRaised" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ProceedsFromBorrowingsClassifiedAsFinancingActivities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LoanPrincipalAmountDeferred" xlink:label="LoanPrincipalAmountDeferred" xlink:title="LoanPrincipalAmountDeferred"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="LoanPrincipalAmountDeferred" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to LoanPrincipalAmountDeferred" order="20.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenCashAndCashEquivalentsAndAmountRequiredByLoanAgreementCovenants" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:label="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DifferenceBetweenMarketAdjustedNetWorthAndAmountRequiredByLoanAgreementCovenants" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="RestrictedCashAndCashEquivalents" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to RestrictedCashAndCashEquivalents" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferralFeePercentage" xlink:label="DeferralFeePercentage" xlink:title="DeferralFeePercentage"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="DeferralFeePercentage" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to DeferralFeePercentage" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="CashAndCashEquivalents" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to CashAndCashEquivalents" use="optional" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_UnrealizedCashAndCashEquivalents" xlink:label="UnrealizedCashAndCashEquivalents" xlink:title="UnrealizedCashAndCashEquivalents"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="UnrealizedCashAndCashEquivalents" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to UnrealizedCashAndCashEquivalents" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to RangeAxis" order="2.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="presentation: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="presentation: CreditFacilityMember to TrancheAMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="presentation: CreditFacilityMember to TrancheBMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheCMember" xlink:label="TrancheCMember" xlink:title="TrancheCMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheCMember" xlink:title="presentation: CreditFacilityMember to TrancheCMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="SignificantInvestmentsInSubsidiariesAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to SignificantInvestmentsInSubsidiariesAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesAxis" xlink:label="PeriodOfInterestRatesAxis" xlink:title="PeriodOfInterestRatesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="PeriodOfInterestRatesAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to PeriodOfInterestRatesAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PeriodOfInterestRatesMember" xlink:label="PeriodOfInterestRatesMember" xlink:title="PeriodOfInterestRatesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PeriodOfInterestRatesAxis" xlink:to="PeriodOfInterestRatesMember" xlink:title="presentation: PeriodOfInterestRatesAxis to PeriodOfInterestRatesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodThreeMonthsMember" xlink:label="InterestPeriodThreeMonthsMember" xlink:title="InterestPeriodThreeMonthsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PeriodOfInterestRatesMember" xlink:to="InterestPeriodThreeMonthsMember" xlink:title="presentation: PeriodOfInterestRatesMember to InterestPeriodThreeMonthsMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_InterestPeriodOneMonthMember" xlink:label="InterestPeriodOneMonthMember" xlink:title="InterestPeriodOneMonthMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PeriodOfInterestRatesMember" xlink:to="InterestPeriodOneMonthMember" xlink:title="presentation: PeriodOfInterestRatesMember to InterestPeriodOneMonthMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="presentation: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="presentation: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanTwoYearsMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanTwoYearsAndNotLaterThanThreeYearsMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanThreeYearsAndNotLaterThanFourYearsMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanFourYearsAndNotLaterThanFiveYearsMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsMember" xlink:label="LaterThanThreeYearsMember" xlink:title="LaterThanThreeYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanThreeYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanThreeYearsMember" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LaterThanTwoYearsMember" xlink:label="LaterThanTwoYearsMember" xlink:title="LaterThanTwoYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanTwoYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanTwoYearsMember" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="presentation: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DVBBankLoanAgreementMember" xlink:label="DVBBankLoanAgreementMember" xlink:title="DVBBankLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="DVBBankLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to DVBBankLoanAgreementMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankInternationalLimitedLoanAgreementMember" xlink:label="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="MacquarieBankInternationalLimitedLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankInternationalLimitedLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to MacquarieBankInternationalLimitedLoanAgreementMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementMember" xlink:label="HamburgCommercialBankAGLoanAgreementMember" xlink:title="HamburgCommercialBankAGLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CommerzbankLoanAgreementMember" xlink:label="CommerzbankLoanAgreementMember" xlink:title="CommerzbankLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="CommerzbankLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to CommerzbankLoanAgreementMember" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAGLoanAgreementMember" xlink:label="HSHNordbankAGLoanAgreementMember" xlink:title="HSHNordbankAGLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="HSHNordbankAGLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to HSHNordbankAGLoanAgreementMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentTradingLimitedLoanAgreementMember" xlink:label="FirmentTradingLimitedLoanAgreementMember" xlink:title="FirmentTradingLimitedLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="FirmentTradingLimitedLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to FirmentTradingLimitedLoanAgreementMember" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SilanerInvestmentsLimitedLoanAgreementMember" xlink:label="SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="SilanerInvestmentsLimitedLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="SilanerInvestmentsLimitedLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to SilanerInvestmentsLimitedLoanAgreementMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncLoanAgreementMember" xlink:label="FirmentShippingIncLoanAgreementMember" xlink:title="FirmentShippingIncLoanAgreementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="FirmentShippingIncLoanAgreementMember" xlink:title="presentation: BorrowingsByNameMember to FirmentShippingIncLoanAgreementMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsAbstract to DisclosureOfDetailedInformationAboutBorrowingsTable" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to DisclosureOfDetailedInformationAboutBorrowingsLineItems" order="4.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="BorrowingsGross" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to BorrowingsGross" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleDebtIncludingEmbeddedDerivative" xlink:label="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="ConvertibleDebtIncludingEmbeddedDerivative"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ConvertibleDebtIncludingEmbeddedDerivative" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsLineItems to ConvertibleDebtIncludingEmbeddedDerivative" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="BorrowingsByNameAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to BorrowingsByNameAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityAxis" xlink:label="CreditFacilityAxis" xlink:title="CreditFacilityAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="CreditFacilityAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to CreditFacilityAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CreditFacilityMember" xlink:label="CreditFacilityMember" xlink:title="CreditFacilityMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityAxis" xlink:to="CreditFacilityMember" xlink:title="presentation: CreditFacilityAxis to CreditFacilityMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheAMember" xlink:label="TrancheAMember" xlink:title="TrancheAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheAMember" xlink:title="presentation: CreditFacilityMember to TrancheAMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TrancheBMember" xlink:label="TrancheBMember" xlink:title="TrancheBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="TrancheBMember" xlink:title="presentation: CreditFacilityMember to TrancheBMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceAMember" xlink:label="AdvanceAMember" xlink:title="AdvanceAMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="AdvanceAMember" xlink:title="presentation: CreditFacilityMember to AdvanceAMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AdvanceBMember" xlink:label="AdvanceBMember" xlink:title="AdvanceBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CreditFacilityMember" xlink:to="AdvanceBMember" xlink:title="presentation: CreditFacilityMember to AdvanceBMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="MaturityAxis" xlink:title="presentation: DisclosureOfDetailedInformationAboutBorrowingsTable to MaturityAxis" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="presentation: RangesMember to TopOfRangeMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsTable" xlink:label="DisclosureOfFinancialInstrumentsTable" xlink:title="DisclosureOfFinancialInstrumentsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfFinancialInstrumentsTable" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfFinancialInstrumentsTable" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfFinancialInstrumentsTable to RangeAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:label="DisclosureOfFinancialInstrumentsLineItems" xlink:title="DisclosureOfFinancialInstrumentsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="DisclosureOfFinancialInstrumentsLineItems" xlink:title="presentation: DisclosureOfFinancialInstrumentsTable to DisclosureOfFinancialInstrumentsLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsPercentageBearingFixedInterestRate" xlink:label="BorrowingsPercentageBearingFixedInterestRate" xlink:title="BorrowingsPercentageBearingFixedInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="BorrowingsPercentageBearingFixedInterestRate" xlink:title="presentation: DisclosureOfFinancialInstrumentsLineItems to BorrowingsPercentageBearingFixedInterestRate" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:label="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" xlink:title="presentation: DisclosureOfFinancialInstrumentsLineItems to NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/DividendsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SeriesaPreferredSharesMember" xlink:label="SeriesaPreferredSharesMember" xlink:title="SeriesaPreferredSharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="SeriesaPreferredSharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to SeriesaPreferredSharesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousLiabilitiesAbstract" xlink:label="MiscellaneousLiabilitiesAbstract" xlink:title="MiscellaneousLiabilitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableTable" xlink:label="DividendsPayableTable" xlink:title="DividendsPayableTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MiscellaneousLiabilitiesAbstract" xlink:to="DividendsPayableTable" xlink:title="presentation: MiscellaneousLiabilitiesAbstract to DividendsPayableTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DividendsPayableLineItems" xlink:label="DividendsPayableLineItems" xlink:title="DividendsPayableLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DividendsPayableTable" xlink:to="DividendsPayableLineItems" xlink:title="presentation: DividendsPayableTable to DividendsPayableLineItems" order="3.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_StockRedeemedDuringPeriodShares" xlink:label="StockRedeemedDuringPeriodShares" xlink:title="StockRedeemedDuringPeriodShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DividendsPayableLineItems" xlink:to="StockRedeemedDuringPeriodShares" xlink:title="presentation: DividendsPayableLineItems to StockRedeemedDuringPeriodShares" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DividendsPayableLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="presentation: DividendsPayableLineItems to NumberOfSharesOutstanding" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DividendsPayableLineItems" xlink:to="DividendsPaidClassifiedAsFinancingActivities" xlink:title="presentation: DividendsPayableLineItems to DividendsPaidClassifiedAsFinancingActivities" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DividendsPayableTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: DividendsPayableTable to ClassesOfShareCapitalAxis" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract to DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:to="MaturityAxis" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable to MaturityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="presentation: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="presentation: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorTable to DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems" xlink:to="MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems to MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MaturityAxis" xlink:to="AggregatedTimeBandsMember" xlink:title="presentation: MaturityAxis to AggregatedTimeBandsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanFiveYearsMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="presentation: AggregatedTimeBandsMember to LaterThanOneYearAndNotLaterThanFiveYearsMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedTimeBandsMember" xlink:to="NotLaterThanOneYearMember" xlink:title="presentation: AggregatedTimeBandsMember to NotLaterThanOneYearMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeAbstract to DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:to="MaturityAxis" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable to MaturityAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:label="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:title="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable" xlink:to="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeTable to DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:label="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems" xlink:to="MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:title="presentation: DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems to MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="presentation: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShipsMember" xlink:label="ShipsMember" xlink:title="ShipsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="ShipsMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to ShipsMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DryDockingMember" xlink:label="DryDockingMember" xlink:title="DryDockingMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="DryDockingMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to DryDockingMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FairValueOfTimeCharterAttachedMember" xlink:label="FairValueOfTimeCharterAttachedMember" xlink:title="FairValueOfTimeCharterAttachedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="FairValueOfTimeCharterAttachedMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to FairValueOfTimeCharterAttachedMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfPropertyPlantAndEquipmentTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentTable to DisclosureOfPropertyPlantAndEquipmentLineItems" use="optional" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="Ships" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to Ships" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedDepreciationPropertyPlantAndEquipment" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="IntangibleAssetsOtherThanGoodwill" xlink:title="IntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="IntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to IntangibleAssetsOtherThanGoodwill" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:label="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="DepreciationAndAmortisationExpense" xlink:title="DepreciationAndAmortisationExpense"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DepreciationAndAmortisationExpense" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to DepreciationAndAmortisationExpense" use="optional" order="8.0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:label="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationSaleOfSubsidiary" xlink:label="AccumulatedDepreciationSaleOfSubsidiary" xlink:title="AccumulatedDepreciationSaleOfSubsidiary"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationSaleOfSubsidiary" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedDepreciationSaleOfSubsidiary" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentTable to CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="CarryingAmountMember" xlink:title="presentation: CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to CarryingAmountMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="GrossCarryingAmountMember" xlink:title="GrossCarryingAmountMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CarryingAmountMember" xlink:to="GrossCarryingAmountMember" xlink:title="presentation: CarryingAmountMember to GrossCarryingAmountMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="AccumulatedDepreciationAmortisationAndImpairmentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CarryingAmountMember" xlink:to="AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:title="presentation: CarryingAmountMember to AccumulatedDepreciationAmortisationAndImpairmentMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_CarryingAmountIMember" xlink:label="CarryingAmountIMember" xlink:title="CarryingAmountIMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CarryingAmountMember" xlink:to="CarryingAmountIMember" xlink:title="presentation: CarryingAmountMember to CarryingAmountIMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Ships" xlink:label="Ships" xlink:title="Ships"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="Ships" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to Ships" use="optional" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedDepreciationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedDepreciationPropertyPlantAndEquipment" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodEndLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="IntangibleAssetsOtherThanGoodwill" xlink:title="IntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="IntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to IntangibleAssetsOtherThanGoodwill" use="optional" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:label="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AccumulatedAmortizationOfIntangibleAssetsOtherThanGoodwill" use="optional" order="12.0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodEndLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/VesselsNetDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="presentation: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SupramaxMember" xlink:label="SupramaxMember" xlink:title="SupramaxMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="SupramaxMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to SupramaxMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PanamaxMember" xlink:label="PanamaxMember" xlink:title="PanamaxMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="PanamaxMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to PanamaxMember" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SunGlobeMember" xlink:label="SunGlobeMember" xlink:title="SunGlobeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="SunGlobeMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to SunGlobeMember" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentAbstract to DisclosureOfPropertyPlantAndEquipmentTable" use="optional" order="1.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentTable to DisclosureOfPropertyPlantAndEquipmentLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:label="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="AssumptionOfAnnualGrowthRatesOfTimeCharterRates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfAnnualGrowthRatesOfTimeCharterRates" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfAnnualGrowthRatesOfTimeCharterRates" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfExpectedRatesOfInflation" xlink:label="AssumptionOfExpectedRatesOfInflation" xlink:title="AssumptionOfExpectedRatesOfInflation"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfExpectedRatesOfInflation" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfExpectedRatesOfInflation" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselCapacity" xlink:label="VesselCapacity" xlink:title="VesselCapacity"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="VesselCapacity" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to VesselCapacity" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AssumptionOfFleetUtilisationRate" xlink:label="AssumptionOfFleetUtilisationRate" xlink:title="AssumptionOfFleetUtilisationRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AssumptionOfFleetUtilisationRate" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AssumptionOfFleetUtilisationRate" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:label="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="AmortisationMethodIntangibleAssetsOtherThanGoodwill"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="AmortisationMethodIntangibleAssetsOtherThanGoodwill" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to AmortisationMethodIntangibleAssetsOtherThanGoodwill" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TimePeriodConsidered" xlink:label="TimePeriodConsidered" xlink:title="TimePeriodConsidered"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="TimePeriodConsidered" xlink:title="presentation: DisclosureOfPropertyPlantAndEquipmentLineItems to TimePeriodConsidered" order="8.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="TypesOfRisksAxis" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to TypesOfRisksAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TypesOfRisksAxis" xlink:to="TypesOfRisksMember" xlink:title="presentation: TypesOfRisksAxis to TypesOfRisksMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="InterestRateRiskMember" xlink:title="InterestRateRiskMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TypesOfRisksMember" xlink:to="InterestRateRiskMember" xlink:title="presentation: TypesOfRisksMember to InterestRateRiskMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInInterestRates" xlink:label="IncreaseInInterestRates" xlink:title="IncreaseInInterestRates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="IncreaseInInterestRates" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to IncreaseInInterestRates" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInInterestRates" xlink:label="DecreaseInInterestRates" xlink:title="DecreaseInInterestRates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DecreaseInInterestRates" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DecreaseInInterestRates" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="TypesOfRisksAxis" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to TypesOfRisksAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TypesOfRisksAxis" xlink:to="TypesOfRisksMember" xlink:title="presentation: TypesOfRisksAxis to TypesOfRisksMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencyRiskMember" xlink:label="CurrencyRiskMember" xlink:title="CurrencyRiskMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TypesOfRisksMember" xlink:to="CurrencyRiskMember" xlink:title="presentation: TypesOfRisksMember to CurrencyRiskMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:label="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable to DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit" xlink:label="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to SensitivityAnalysisForEachTypeOfMarketRiskEffectOnProfit" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit" xlink:label="newItem" xlink:title="newItem"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="newItem" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to newItem" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseInExchangeRates" xlink:label="IncreaseInExchangeRates" xlink:title="IncreaseInExchangeRates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="IncreaseInExchangeRates" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to IncreaseInExchangeRates" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DecreaseInExchangeRates" xlink:label="DecreaseInExchangeRates" xlink:title="DecreaseInExchangeRates"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems" xlink:to="DecreaseInExchangeRates" xlink:title="presentation: DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems to DecreaseInExchangeRates" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:label="DisclosureOfFinancialInstrumentsAbstract" xlink:title="DisclosureOfFinancialInstrumentsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureTable" xlink:label="DisclosureOfCreditRiskExposureTable" xlink:title="DisclosureOfCreditRiskExposureTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialInstrumentsAbstract" xlink:to="DisclosureOfCreditRiskExposureTable" xlink:title="presentation: DisclosureOfFinancialInstrumentsAbstract to DisclosureOfCreditRiskExposureTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesAxis" xlink:label="CounterpartiesAxis" xlink:title="CounterpartiesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="CounterpartiesAxis" xlink:title="presentation: DisclosureOfCreditRiskExposureTable to CounterpartiesAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CounterpartiesMember" xlink:label="CounterpartiesMember" xlink:title="CounterpartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesAxis" xlink:to="CounterpartiesMember" xlink:title="presentation: CounterpartiesAxis to CounterpartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererMember" xlink:label="MajorChartererMember" xlink:title="MajorChartererMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="MajorChartererMember" xlink:title="presentation: CounterpartiesMember to MajorChartererMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererBMember" xlink:label="MajorChartererBMember" xlink:title="MajorChartererBMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="MajorChartererBMember" xlink:title="presentation: CounterpartiesMember to MajorChartererBMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererCMember" xlink:label="MajorChartererCMember" xlink:title="MajorChartererCMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="MajorChartererCMember" xlink:title="presentation: CounterpartiesMember to MajorChartererCMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererDMember" xlink:label="MajorChartererDMember" xlink:title="MajorChartererDMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="MajorChartererDMember" xlink:title="presentation: CounterpartiesMember to MajorChartererDMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_OtherMajorCharterersMember" xlink:label="OtherMajorCharterersMember" xlink:title="OtherMajorCharterersMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="OtherMajorCharterersMember" xlink:title="presentation: CounterpartiesMember to OtherMajorCharterersMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MajorChartererEMember" xlink:label="MajorChartererEMember" xlink:title="MajorChartererEMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartiesMember" xlink:to="MajorChartererEMember" xlink:title="presentation: CounterpartiesMember to MajorChartererEMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCreditRiskExposureLineItems" xlink:label="DisclosureOfCreditRiskExposureLineItems" xlink:title="DisclosureOfCreditRiskExposureLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="DisclosureOfCreditRiskExposureLineItems" xlink:title="presentation: DisclosureOfCreditRiskExposureTable to DisclosureOfCreditRiskExposureLineItems" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="RevenueFromRenderingOfServices" xlink:title="RevenueFromRenderingOfServices"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="RevenueFromRenderingOfServices" xlink:title="presentation: DisclosureOfCreditRiskExposureLineItems to RevenueFromRenderingOfServices" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="PercentageOfEntitysRevenue" xlink:title="PercentageOfEntitysRevenue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="PercentageOfEntitysRevenue" xlink:title="presentation: DisclosureOfCreditRiskExposureLineItems to PercentageOfEntitysRevenue" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:label="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:title="DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:label="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="DisclosureOfFairValueMeasurementOfAssetsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsAbstract to DisclosureOfFairValueMeasurementOfAssetsTable" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="LevelsOfFairValueHierarchyAxis" xlink:title="LevelsOfFairValueHierarchyAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="LevelsOfFairValueHierarchyAxis" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsTable to LevelsOfFairValueHierarchyAxis" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember" xlink:title="AllLevelsOfFairValueHierarchyMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="AllLevelsOfFairValueHierarchyMember" xlink:title="presentation: LevelsOfFairValueHierarchyAxis to AllLevelsOfFairValueHierarchyMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="Level2OfFairValueHierarchyMember" xlink:title="Level2OfFairValueHierarchyMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="Level2OfFairValueHierarchyMember" xlink:title="presentation: AllLevelsOfFairValueHierarchyMember to Level2OfFairValueHierarchyMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="Level3OfFairValueHierarchyMember" xlink:title="Level3OfFairValueHierarchyMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="Level3OfFairValueHierarchyMember" xlink:title="presentation: AllLevelsOfFairValueHierarchyMember to Level3OfFairValueHierarchyMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:label="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:title="DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsTable to DisclosureOfFairValueMeasurementOfAssetsLineItems" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="FinancialLiabilitiesAtFairValue" xlink:title="FinancialLiabilitiesAtFairValue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="FinancialLiabilitiesAtFairValue" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsLineItems to FinancialLiabilitiesAtFairValue" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="NoncurrentDerivativeFinancialLiabilities" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsLineItems to NoncurrentDerivativeFinancialLiabilities" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="BorrowingsGross" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsLineItems to BorrowingsGross" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="FinancialLiabilities" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsLineItems to FinancialLiabilities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MeasurementAxis" xlink:label="MeasurementAxis" xlink:title="MeasurementAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="MeasurementAxis" xlink:title="presentation: DisclosureOfFairValueMeasurementOfAssetsTable to MeasurementAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="AggregatedMeasurementMember" xlink:title="AggregatedMeasurementMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MeasurementAxis" xlink:to="AggregatedMeasurementMember" xlink:title="presentation: MeasurementAxis to AggregatedMeasurementMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AtFairValueMember" xlink:label="AtFairValueMember" xlink:title="AtFairValueMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedMeasurementMember" xlink:to="AtFairValueMember" xlink:title="presentation: AggregatedMeasurementMember to AtFairValueMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:label="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AggregatedMeasurementMember" xlink:to="NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:title="presentation: AggregatedMeasurementMember to NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="presentation: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_FirmentShippingIncMember" xlink:label="FirmentShippingIncMember" xlink:title="FirmentShippingIncMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="FirmentShippingIncMember" xlink:title="presentation: OtherRelatedPartiesMember to FirmentShippingIncMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteMember" xlink:label="ConvertibleNoteMember" xlink:title="ConvertibleNoteMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteMember" xlink:title="presentation: OtherRelatedPartiesMember to ConvertibleNoteMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract" xlink:to="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract to DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="PropertyPlantAndEquipmentMember" xlink:title="presentation: ClassesOfPropertyPlantAndEquipmentAxis to PropertyPlantAndEquipmentMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShipsMember" xlink:label="ShipsMember" xlink:title="ShipsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="ShipsMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to ShipsMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DeferredDryDockingCostsMember" xlink:label="DeferredDryDockingCostsMember" xlink:title="DeferredDryDockingCostsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="DeferredDryDockingCostsMember" xlink:title="presentation: PropertyPlantAndEquipmentMember to DeferredDryDockingCostsMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:label="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:title="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsLiabilities" xlink:label="CurrentAssetsLiabilities" xlink:title="CurrentAssetsLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="CurrentAssetsLiabilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to CurrentAssetsLiabilities" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_AllowanceForDoubtfulTradeReceivables" xlink:label="AllowanceForDoubtfulTradeReceivables" xlink:title="AllowanceForDoubtfulTradeReceivables"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="AllowanceForDoubtfulTradeReceivables" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to AllowanceForDoubtfulTradeReceivables" use="optional" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationMethodPropertyPlantAndEquipment" xlink:label="DepreciationMethodPropertyPlantAndEquipment" xlink:title="DepreciationMethodPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DepreciationMethodPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DepreciationMethodPropertyPlantAndEquipment" use="optional" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" use="optional" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_VesselsScrapRatePerTon" xlink:label="VesselsScrapRatePerTon" xlink:title="VesselsScrapRatePerTon"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="VesselsScrapRatePerTon" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to VesselsScrapRatePerTon" use="optional" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExtraDepreciationPropertyPlantAndEquipment" xlink:label="ExtraDepreciationPropertyPlantAndEquipment" xlink:title="ExtraDepreciationPropertyPlantAndEquipment"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ExtraDepreciationPropertyPlantAndEquipment" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ExtraDepreciationPropertyPlantAndEquipment" use="optional" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="BorrowingCostsCapitalised" xlink:title="BorrowingCostsCapitalised"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="BorrowingCostsCapitalised" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to BorrowingCostsCapitalised" use="optional" order="8.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="NumberOfOperatingSegments" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to NumberOfOperatingSegments" use="optional" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:label="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="DescriptionOfNatureOfBenefitsProvidedByPlan"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DescriptionOfNatureOfBenefitsProvidedByPlan" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DescriptionOfNatureOfBenefitsProvidedByPlan" use="optional" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="LiabilityAssetOfDefinedBenefitPlans" xlink:title="LiabilityAssetOfDefinedBenefitPlans"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="LiabilityAssetOfDefinedBenefitPlans" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to LiabilityAssetOfDefinedBenefitPlans" use="optional" order="11.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="CurrentPortionOfLongtermBorrowings" xlink:title="CurrentPortionOfLongtermBorrowings"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="CurrentPortionOfLongtermBorrowings" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to CurrentPortionOfLongtermBorrowings" order="12.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageRevenues" xlink:label="IncreaseDecreaseVoyageRevenues" xlink:title="IncreaseDecreaseVoyageRevenues"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IncreaseDecreaseVoyageRevenues" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IncreaseDecreaseVoyageRevenues" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IncreaseDecreaseVoyageExpenses" xlink:label="IncreaseDecreaseVoyageExpenses" xlink:title="IncreaseDecreaseVoyageExpenses"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IncreaseDecreaseVoyageExpenses" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IncreaseDecreaseVoyageExpenses" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndiscountedFinanceLeasePaymentsToBeReceived" xlink:label="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="UndiscountedFinanceLeasePaymentsToBeReceived"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UndiscountedFinanceLeasePaymentsToBeReceived" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UndiscountedFinanceLeasePaymentsToBeReceived" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RightofuseAssets" xlink:label="RightofuseAssets" xlink:title="RightofuseAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="RightofuseAssets" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to RightofuseAssets" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MonthlyDepreciationRightofuseAssets" xlink:label="MonthlyDepreciationRightofuseAssets" xlink:title="MonthlyDepreciationRightofuseAssets"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="MonthlyDepreciationRightofuseAssets" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to MonthlyDepreciationRightofuseAssets" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:label="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="DateAsAtWhichEntityPlansToApplyNewIFRSInitially"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DateAsAtWhichEntityPlansToApplyNewIFRSInitially" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DateAsAtWhichEntityPlansToApplyNewIFRSInitially" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TitleOfNewIFRS" xlink:label="TitleOfNewIFRS" xlink:title="TitleOfNewIFRS"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="TitleOfNewIFRS" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to TitleOfNewIFRS" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired" xlink:label="DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="DateByWhichApplicationOfNewIFRSIsRequired"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DateByWhichApplicationOfNewIFRSIsRequired" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DateByWhichApplicationOfNewIFRSIsRequired" order="20.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:label="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:title="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements" order="21.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ProceedsFromIssuingShares" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ParValuePerShare" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ParValuePerShare" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IntervalBetweenVesselDrydockingSpecialSurvey" xlink:label="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="IntervalBetweenVesselDrydockingSpecialSurvey"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="IntervalBetweenVesselDrydockingSpecialSurvey" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to IntervalBetweenVesselDrydockingSpecialSurvey" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="UndrawnBorrowingFacilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to UndrawnBorrowingFacilities" use="optional" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:label="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities" order="27.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateSignificantUnobservableInputsLiabilities" xlink:label="InterestRateSignificantUnobservableInputsLiabilities" xlink:title="InterestRateSignificantUnobservableInputsLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="InterestRateSignificantUnobservableInputsLiabilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to InterestRateSignificantUnobservableInputsLiabilities" order="28.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:label="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="DerivativeLifeSignificantUnobservableInputsLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="DerivativeLifeSignificantUnobservableInputsLiabilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to DerivativeLifeSignificantUnobservableInputsLiabilities" order="29.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:label="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="ExpectedDividendYieldSignificantUnobservableInputsLiabilities"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="ExpectedDividendYieldSignificantUnobservableInputsLiabilities" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to ExpectedDividendYieldSignificantUnobservableInputsLiabilities" order="30.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BorrowingsGross" xlink:label="BorrowingsGross" xlink:title="BorrowingsGross"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="BorrowingsGross" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to BorrowingsGross" order="31.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageSharePrice" xlink:label="WeightedAverageSharePrice" xlink:title="WeightedAverageSharePrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems" xlink:to="WeightedAverageSharePrice" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems to WeightedAverageSharePrice" order="32.0" preferredLabel="http://www.xbrl.org/2003/role/label"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="BorrowingsByNameAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to BorrowingsByNameAxis" order="2.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameAxis" xlink:to="BorrowingsByNameMember" xlink:title="presentation: BorrowingsByNameAxis to BorrowingsByNameMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HSHNordbankAndDVBBankMember" xlink:label="HSHNordbankAndDVBBankMember" xlink:title="HSHNordbankAndDVBBankMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="HSHNordbankAndDVBBankMember" xlink:title="presentation: BorrowingsByNameMember to HSHNordbankAndDVBBankMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MacquarieBankAndHamburgCommercialBankAGMember" xlink:label="MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="MacquarieBankAndHamburgCommercialBankAGMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="MacquarieBankAndHamburgCommercialBankAGMember" xlink:title="presentation: BorrowingsByNameMember to MacquarieBankAndHamburgCommercialBankAGMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_HamburgCommercialBankAGLoanAgreementIIMember" xlink:label="HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="HamburgCommercialBankAGLoanAgreementIIMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="BorrowingsByNameMember" xlink:to="HamburgCommercialBankAGLoanAgreementIIMember" xlink:title="presentation: BorrowingsByNameMember to HamburgCommercialBankAGLoanAgreementIIMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsAxis" xlink:label="NewIFRSsAxis" xlink:title="NewIFRSsAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="NewIFRSsAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to NewIFRSsAxis" order="4.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NewIFRSsMember" xlink:label="NewIFRSsMember" xlink:title="NewIFRSsMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewIFRSsAxis" xlink:to="NewIFRSsMember" xlink:title="presentation: NewIFRSsAxis to NewIFRSsMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_IFRS16LeasesMember" xlink:label="IFRS16LeasesMember" xlink:title="IFRS16LeasesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewIFRSsMember" xlink:to="IFRS16LeasesMember" xlink:title="presentation: NewIFRSsMember to IFRS16LeasesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesAxis" xlink:label="AccountingEstimatesAxis" xlink:title="AccountingEstimatesAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="AccountingEstimatesAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to AccountingEstimatesAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesMember" xlink:label="AccountingEstimatesMember" xlink:title="AccountingEstimatesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingEstimatesAxis" xlink:to="AccountingEstimatesMember" xlink:title="presentation: AccountingEstimatesAxis to AccountingEstimatesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_LeaseComponentMember" xlink:label="LeaseComponentMember" xlink:title="LeaseComponentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingEstimatesMember" xlink:to="LeaseComponentMember" xlink:title="presentation: AccountingEstimatesMember to LeaseComponentMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_NonLeaseComponentMember" xlink:label="NonLeaseComponentMember" xlink:title="NonLeaseComponentMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingEstimatesMember" xlink:to="NonLeaseComponentMember" xlink:title="presentation: AccountingEstimatesMember to NonLeaseComponentMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to CategoriesOfRelatedPartiesAxis" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:label="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable" xlink:to="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:title="presentation: DisclosureOfInitialApplicationOfStandardsOrInterpretationsTable to ValuationTechniquesUsedInFairValueMeasurementAxis" order="7.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesMember" xlink:label="ValuationTechniquesMember" xlink:title="ValuationTechniquesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="ValuationTechniquesMember" xlink:title="presentation: ValuationTechniquesUsedInFairValueMeasurementAxis to ValuationTechniquesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeApproachMember" xlink:label="IncomeApproachMember" xlink:title="IncomeApproachMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ValuationTechniquesMember" xlink:to="IncomeApproachMember" xlink:title="presentation: ValuationTechniquesMember to IncomeApproachMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OptionPricingModelMember" xlink:label="OptionPricingModelMember" xlink:title="OptionPricingModelMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeApproachMember" xlink:to="OptionPricingModelMember" xlink:title="presentation: IncomeApproachMember to OptionPricingModelMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_BlackScholesOptionPricingModelMember" xlink:label="BlackScholesOptionPricingModelMember" xlink:title="BlackScholesOptionPricingModelMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OptionPricingModelMember" xlink:to="BlackScholesOptionPricingModelMember" xlink:title="presentation: OptionPricingModelMember to BlackScholesOptionPricingModelMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="EntitysTotalForRelatedPartiesMember" xlink:title="presentation: CategoriesOfRelatedPartiesAxis to EntitysTotalForRelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="RelatedPartiesMember" xlink:title="presentation: EntitysTotalForRelatedPartiesMember to RelatedPartiesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartiesMember" xlink:to="OtherRelatedPartiesMember" xlink:title="presentation: RelatedPartiesMember to OtherRelatedPartiesMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteMember" xlink:label="ConvertibleNoteMember" xlink:title="ConvertibleNoteMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteMember" xlink:title="presentation: OtherRelatedPartiesMember to ConvertibleNoteMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNoteIIMember" xlink:label="ConvertibleNoteIIMember" xlink:title="ConvertibleNoteIIMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherRelatedPartiesMember" xlink:to="ConvertibleNoteIIMember" xlink:title="presentation: OtherRelatedPartiesMember to ConvertibleNoteIIMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangesMember" xlink:title="presentation: RangeAxis to RangesMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="BottomOfRangeMember" xlink:title="presentation: RangesMember to BottomOfRangeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangesMember" xlink:to="TopOfRangeMember" xlink:title="presentation: RangesMember to TopOfRangeMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract to DisclosureOfNonadjustingEventsAfterReportingPeriodTable" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" order="6.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ProceedsFromIssuingShares" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ProceedsFromIssuingShares" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ParValuePerShare" xlink:title="ParValuePerShare"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ParValuePerShare" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ParValuePerShare" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:label="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="ProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionPrice" xlink:label="DebtInstrumentConvertibleConversionPrice" xlink:title="DebtInstrumentConvertibleConversionPrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleConversionPrice" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleConversionPrice" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="DebtInstrumentConvertibleThresholdTradingDays"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleThresholdTradingDays" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleThresholdTradingDays" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_DebtInstrumentConvertibleConversionMultiplier" xlink:label="DebtInstrumentConvertibleConversionMultiplier" xlink:title="DebtInstrumentConvertibleConversionMultiplier"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="DebtInstrumentConvertibleConversionMultiplier" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to DebtInstrumentConvertibleConversionMultiplier" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="BorrowingsInterestRate" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to BorrowingsInterestRate" use="optional" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ConvertibleNotesRedemptionPricePercentage" xlink:label="ConvertibleNotesRedemptionPricePercentage" xlink:title="ConvertibleNotesRedemptionPricePercentage"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ConvertibleNotesRedemptionPricePercentage" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to ConvertibleNotesRedemptionPricePercentage" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_PercentageBelowFloorPrice" xlink:label="PercentageBelowFloorPrice" xlink:title="PercentageBelowFloorPrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="PercentageBelowFloorPrice" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to PercentageBelowFloorPrice" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_MinimumPossibleConversionPrice" xlink:label="MinimumPossibleConversionPrice" xlink:title="MinimumPossibleConversionPrice"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="MinimumPossibleConversionPrice" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to MinimumPossibleConversionPrice" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="RangeAxis" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to RangeAxis" order="4.0"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="CategoriesOfRelatedPartiesAxis" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to CategoriesOfRelatedPartiesAxis" order="3.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProbabilityOfDefaultAxis" xlink:label="ProbabilityOfDefaultAxis" xlink:title="ProbabilityOfDefaultAxis"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="ProbabilityOfDefaultAxis" xlink:title="presentation: DisclosureOfNonadjustingEventsAfterReportingPeriodTable to ProbabilityOfDefaultAxis" order="5.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForProbabilityOfDefaultMember" xlink:label="EntitysTotalForProbabilityOfDefaultMember" xlink:title="EntitysTotalForProbabilityOfDefaultMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProbabilityOfDefaultAxis" xlink:to="EntitysTotalForProbabilityOfDefaultMember" xlink:title="presentation: ProbabilityOfDefaultAxis to EntitysTotalForProbabilityOfDefaultMember" order="1.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_EventOfDefaultMember" xlink:label="EventOfDefaultMember" xlink:title="EventOfDefaultMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="EventOfDefaultMember" xlink:title="presentation: EntitysTotalForProbabilityOfDefaultMember to EventOfDefaultMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ChangeInControlMember" xlink:label="ChangeInControlMember" xlink:title="ChangeInControlMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="ChangeInControlMember" xlink:title="presentation: EntitysTotalForProbabilityOfDefaultMember to ChangeInControlMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_TradingDaysCovenantMember" xlink:label="TradingDaysCovenantMember" xlink:title="TradingDaysCovenantMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EntitysTotalForProbabilityOfDefaultMember" xlink:to="TradingDaysCovenantMember" xlink:title="presentation: EntitysTotalForProbabilityOfDefaultMember to TradingDaysCovenantMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ClassesOfShareCapitalAxis" xlink:title="ClassesOfShareCapitalAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ClassesOfShareCapitalMember" xlink:title="ClassesOfShareCapitalMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalAxis" xlink:to="ClassesOfShareCapitalMember" xlink:title="presentation: ClassesOfShareCapitalAxis to ClassesOfShareCapitalMember" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ClassesOfShareCapitalMember" xlink:to="OrdinarySharesMember" xlink:title="presentation: ClassesOfShareCapitalMember to OrdinarySharesMember" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="EarningsPerShareTable" xlink:title="EarningsPerShareTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="EarningsPerShareLineItems" xlink:title="EarningsPerShareLineItems"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareTable" xlink:to="EarningsPerShareLineItems" xlink:title="presentation: EarningsPerShareTable to EarningsPerShareLineItems" use="optional" order="2.0"/>
    <loc xlink:type="locator" xlink:href="glbs-20181231.xsd#glbs_ReverseStockSplitConversionRatio" xlink:label="ReverseStockSplitConversionRatio" xlink:title="ReverseStockSplitConversionRatio"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareLineItems" xlink:to="ReverseStockSplitConversionRatio" xlink:title="presentation: EarningsPerShareLineItems to ReverseStockSplitConversionRatio" use="optional" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareLineItems" xlink:to="NumberOfSharesOutstanding" xlink:title="presentation: EarningsPerShareLineItems to NumberOfSharesOutstanding" use="optional" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareTable" xlink:to="ClassesOfShareCapitalAxis" xlink:title="presentation: EarningsPerShareTable to ClassesOfShareCapitalAxis" use="optional" order="1.0"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInNumberOfSharesOutstandingAbstract" xlink:label="ChangesInNumberOfSharesOutstandingAbstract" xlink:title="ChangesInNumberOfSharesOutstandingAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInNumberOfSharesOutstandingAbstract" xlink:to="EarningsPerShareTable" xlink:title="presentation: ChangesInNumberOfSharesOutstandingAbstract to EarningsPerShareTable" use="optional" order="1.0"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:label="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:title="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:label="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:title="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract" xlink:to="DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" xlink:title="presentation: DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Abstract to DisclosureOfFinancialAssetsAtDateOfInitialApplicationOfIFRS9Explanatory" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </presentationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6742747120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2018 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DocumentEntityInformationAbstract', window );"><strong>Document Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">GLOBUS MARITIME LTD<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">GLBS<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001499780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2018<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2018<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well Known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityExTransitionPeriod', window );">Entity Ex Transition Period</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock Shares Outstanding</a></td>
<td class="nump">3,209,327<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityExTransitionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 7A<br> -Section B<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityExTransitionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if company meets the shell company criteria: a company with no or nominal operations, and with no or nominal assets or assets consisting solely of cash and cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DocumentEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DocumentEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743033824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Loss - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueAbstract', window );"><strong>REVENUE:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Voyage revenues</a></td>
<td class="nump">$ 17,354<span></span>
</td>
<td class="nump">$ 13,852<span></span>
</td>
<td class="nump">$ 8,423<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Management and consulting fee income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">31<span></span>
</td>
<td class="nump">278<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total Revenues</a></td>
<td class="nump">17,354<span></span>
</td>
<td class="nump">13,883<span></span>
</td>
<td class="nump">8,701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaterialIncomeAndExpenseAbstract', window );"><strong>EXPENSES &amp; OTHER OPERATING INCOME:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ServicesExpense', window );">Voyage expenses</a></td>
<td class="num">(1,188)<span></span>
</td>
<td class="num">(1,352)<span></span>
</td>
<td class="num">(954)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_OperatingExpense1', window );">Vessel operating expenses</a></td>
<td class="num">(9,925)<span></span>
</td>
<td class="num">(9,135)<span></span>
</td>
<td class="num">(8,688)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="num">(4,601)<span></span>
</td>
<td class="num">(4,854)<span></span>
</td>
<td class="num">(5,014)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DepreciationOfDryDockingCosts', window );">Depreciation of dry docking costs</a></td>
<td class="num">(1,166)<span></span>
</td>
<td class="num">(862)<span></span>
</td>
<td class="num">(1,005)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Administrative expenses</a></td>
<td class="num">(1,356)<span></span>
</td>
<td class="num">(1,224)<span></span>
</td>
<td class="num">(2,094)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdministrativeExpenseRelatedPartyTransactions', window );">Administrative expenses payable to related parties</a></td>
<td class="num">(528)<span></span>
</td>
<td class="num">(514)<span></span>
</td>
<td class="num">(351)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DirectorsCompensationSharebasedPayment', window );">Share-based payments</a></td>
<td class="num">(40)<span></span>
</td>
<td class="num">(40)<span></span>
</td>
<td class="num">(50)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost', window );">Gain from sale of subsidiary</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,257<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other (expenses)/income, net</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating loss</a></td>
<td class="num">(1,448)<span></span>
</td>
<td class="num">(4,015)<span></span>
</td>
<td class="num">(7,228)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Interest expense and finance costs</a></td>
<td class="num">(2,056)<span></span>
</td>
<td class="num">(2,221)<span></span>
</td>
<td class="num">(2,676)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Loss on derivative financial instruments</a></td>
<td class="num">(131)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Foreign exchange gains/(losses), net</a></td>
<td class="nump">67<span></span>
</td>
<td class="num">(242)<span></span>
</td>
<td class="nump">74<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">TOTAL LOSS FOR THE YEAR</a></td>
<td class="num">(3,568)<span></span>
</td>
<td class="num">(6,475)<span></span>
</td>
<td class="num">(9,825)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other Comprehensive Income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</a></td>
<td class="num">$ (3,568)<span></span>
</td>
<td class="num">$ (6,475)<span></span>
</td>
<td class="num">$ (9,825)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsPerShareAbstract', window );"><strong>Loss per share (U.S.$):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShare', window );">- Basic and Diluted loss per share for the year</a></td>
<td class="num">$ (1.11)<span></span>
</td>
<td class="num">$ (2.51)<span></span>
</td>
<td class="num">$ (37.73)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdministrativeExpenseRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdministrativeExpenseRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DepreciationOfDryDockingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of dry-docking costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DepreciationOfDryDockingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DirectorsCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to directors in the form of share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DirectorsCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_OperatingExpense1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_OperatingExpense1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of earnings per share when the basic and diluted measurements are equal. [Refer: Basic earnings (loss) per share; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=sect_AStatementofcashflowsforanentityotherthanafinancialinstitution&amp;doctype=Illustrative%20Examples<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2018-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2018-03-01&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in association with the loss of control over a subsidiary, which are attributable to the former controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 19<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_19&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedWhenControlInSubsidiaryIsLost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaterialIncomeAndExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaterialIncomeAndExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2018-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2018-03-01&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2018-03-01&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6742642880">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsAbstract', window );"><strong>NON-CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Vessels, net</a></td>
<td class="nump">$ 83,750<span></span>
</td>
<td class="nump">$ 87,320<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OfficeEquipment', window );">Office furniture and equipment</a></td>
<td class="nump">120<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentAssets', window );">Other non-current assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total non-current assets</a></td>
<td class="nump">83,880<span></span>
</td>
<td class="nump">87,373<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade accounts receivable</a></td>
<td class="nump">577<span></span>
</td>
<td class="nump">177<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">650<span></span>
</td>
<td class="nump">661<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Prepayments and other assets</a></td>
<td class="nump">171<span></span>
</td>
<td class="nump">426<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">1,350<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">2,756<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="nump">2,794<span></span>
</td>
<td class="nump">4,230<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">86,674<span></span>
</td>
<td class="nump">91,603<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Issued share capital</a></td>
<td class="nump">13<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SharePremium', window );">Share premium</a></td>
<td class="nump">140,334<span></span>
</td>
<td class="nump">139,684<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated deficit</a></td>
<td class="num">(99,297)<span></span>
</td>
<td class="num">(95,729)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">41,050<span></span>
</td>
<td class="nump">43,968<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilitiesAbstract', window );"><strong>NON-CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term borrowings, net of current portion</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Fair value of derivative financial instruments</a></td>
<td class="nump">831<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits', window );">Provision for staff retirement indemnities</a></td>
<td class="nump">87<span></span>
</td>
<td class="nump">82<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total non-current liabilities</a></td>
<td class="nump">2,418<span></span>
</td>
<td class="nump">82<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of long-term borrowings</a></td>
<td class="nump">35,368<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade accounts payable</a></td>
<td class="nump">6,433<span></span>
</td>
<td class="nump">4,258<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">1,319<span></span>
</td>
<td class="nump">1,455<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredIncome', window );">Deferred revenue</a></td>
<td class="nump">86<span></span>
</td>
<td class="nump">302<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">43,206<span></span>
</td>
<td class="nump">47,553<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">45,624<span></span>
</td>
<td class="nump">47,635<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">TOTAL EQUITY AND LIABILITIES</a></td>
<td class="nump">$ 86,674<span></span>
</td>
<td class="nump">$ 91,603<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability representing income that has been received but is not yet earned. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OfficeEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing equipment used to support office functions, not specifically used in the production process. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_37_h&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OfficeEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SharePremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SharePremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Ships">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing seafaring or other maritime vessels used in the entity's operations. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_37_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Ships</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743747312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Issued Share Capital</div></th>
<th class="th"><div>Share Premium</div></th>
<th class="th"><div>(Accumulated Deficit)</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">As at Dec. 31, 2015</a></td>
<td class="nump">$ 30,535<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 109,963<span></span>
</td>
<td class="num">$ (79,429)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</a></td>
<td class="num">(9,825)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,825)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(9,825)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,825)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments (note 13)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">As at Dec. 31, 2016</a></td>
<td class="nump">20,760<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">110,013<span></span>
</td>
<td class="num">(89,254)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</a></td>
<td class="num">(6,475)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,475)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(6,475)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,475)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments (note 13)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issuance of common shares (note 10)</a></td>
<td class="nump">27,282<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="nump">27,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants (note 10)</a></td>
<td class="nump">2,371<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">2,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">As at Dec. 31, 2017</a></td>
<td class="nump">43,968<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="nump">139,684<span></span>
</td>
<td class="num">(95,729)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">TOTAL COMPREHENSIVE LOSS FOR THE YEAR</a></td>
<td class="num">(3,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,568)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(3,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,568)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments (note 13)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants (note 10)</a></td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">As at Dec. 31, 2018</a></td>
<td class="nump">$ 41,050<span></span>
</td>
<td class="nump">$ 13<span></span>
</td>
<td class="nump">$ 140,334<span></span>
</td>
<td class="num">$ (99,297)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6742973184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">$ (3,568)<span></span>
</td>
<td class="num">$ (6,475)<span></span>
</td>
<td class="num">$ (9,825)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Adjustments for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationExpense', window );">Depreciation</a></td>
<td class="nump">4,601<span></span>
</td>
<td class="nump">4,854<span></span>
</td>
<td class="nump">5,014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts', window );">Depreciation of deferred dry docking costs</a></td>
<td class="nump">1,166<span></span>
</td>
<td class="nump">862<span></span>
</td>
<td class="nump">1,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_PaymentsOfDeferredDryDockingCosts', window );">Payment of deferred dry docking costs</a></td>
<td class="num">(1,204)<span></span>
</td>
<td class="num">(412)<span></span>
</td>
<td class="num">(478)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Gain from sale of subsidiary</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(2,257)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForProvisions', window );">Provision for staff retirement indemnities</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives', window );">Loss on derivative financial instruments</a></td>
<td class="nump">131<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForFinanceCosts', window );">Interest expense and finance costs</a></td>
<td class="nump">2,056<span></span>
</td>
<td class="nump">2,221<span></span>
</td>
<td class="nump">2,676<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForInterestIncome', window );">Interest income</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains', window );">Foreign exchange gains, net</a></td>
<td class="num">(81)<span></span>
</td>
<td class="nump">181<span></span>
</td>
<td class="num">(58)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Share based payment</a></td>
<td class="nump">50<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable', window );">Trade accounts receivable</a></td>
<td class="num">(400)<span></span>
</td>
<td class="nump">66<span></span>
</td>
<td class="num">(270)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories', window );">Inventories</a></td>
<td class="nump">11<span></span>
</td>
<td class="num">(145)<span></span>
</td>
<td class="num">(161)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets', window );">Prepayments and other assets</a></td>
<td class="nump">255<span></span>
</td>
<td class="nump">591<span></span>
</td>
<td class="num">(232)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable', window );">Trade accounts payable</a></td>
<td class="nump">1,303<span></span>
</td>
<td class="num">(499)<span></span>
</td>
<td class="nump">746<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables', window );">Accrued liabilities and other payables</a></td>
<td class="num">(258)<span></span>
</td>
<td class="num">(726)<span></span>
</td>
<td class="nump">141<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(216)<span></span>
</td>
<td class="nump">82<span></span>
</td>
<td class="nump">49<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash generated from/(used in) operating activities</a></td>
<td class="nump">3,851<span></span>
</td>
<td class="nump">631<span></span>
</td>
<td class="num">(3,600)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Net proceeds from sale of vessel/subsidiary</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">374<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Purchase of vessel equipment</a></td>
<td class="num">(26)<span></span>
</td>
<td class="num">(245)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities', window );">Purchases of office furniture and equipment</a></td>
<td class="num">(100)<span></span>
</td>
<td class="num">(21)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities', window );">Interest received</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash (used in)/generated from investing activities</a></td>
<td class="num">(126)<span></span>
</td>
<td class="num">(263)<span></span>
</td>
<td class="nump">362<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from loans</a></td>
<td class="nump">15,700<span></span>
</td>
<td class="nump">280<span></span>
</td>
<td class="nump">5,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayment of long-term debt</a></td>
<td class="num">(19,497)<span></span>
</td>
<td class="num">(4,399)<span></span>
</td>
<td class="num">(3,100)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="nump">600<span></span>
</td>
<td class="nump">9,653<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents', window );">Pledged bank deposits</a></td>
<td class="num">(1,140)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">290<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(14)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForDebtIssueCosts', window );">Payment of financing costs</a></td>
<td class="num">(203)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities', window );">Interest paid</a></td>
<td class="num">(1,895)<span></span>
</td>
<td class="num">(3,309)<span></span>
</td>
<td class="num">(1,730)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash generated (used in)/from financing activities</a></td>
<td class="num">(6,435)<span></span>
</td>
<td class="nump">2,225<span></span>
</td>
<td class="nump">1,396<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges', window );">Net (decrease)/increase in cash and cash equivalents</a></td>
<td class="num">(2,710)<span></span>
</td>
<td class="nump">2,593<span></span>
</td>
<td class="num">(1,842)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at the beginning of the year</a></td>
<td class="nump">2,756<span></span>
</td>
<td class="nump">163<span></span>
</td>
<td class="nump">2,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at the end of the year</a></td>
<td class="nump">$ 46<span></span>
</td>
<td class="nump">$ 2,756<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation expense of deferred dry-docking costs to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdjustmentsForDepreciationExpenseOfDeferredDryDockingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in accrued liabilities and other payables to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdjustmentsForIncreaseDecreaseInAccruedLiabilitiesAndOtherPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in deferred revenue to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdjustmentsForIncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_PaymentsOfDeferredDryDockingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for deferred dry-docking costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_PaymentsOfDeferredDryDockingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in inventories to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Inventories; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade accounts receivable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for finance costs to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Finance costs; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForFinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals investments in subsidiaries, joint ventures and associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries, joint ventures and associates; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gains (losses) on changes in the fair value of derivatives to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: At fair value [member]; Derivatives [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForInterestIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for interest income expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Interest income; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForInterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for unrealised foreign exchange losses (gains) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows arising from losing control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForDebtIssueCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt issue costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForDebtIssueCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of long-term assets that the entity does not separately disclose in the same statement or note, classified as investing activities. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722050544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation And General Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract', window );"><strong>Disclosure of subsidiaries [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory', window );">Basis of presentation and general information</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Basis of presentation and general information</font></h1><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="_DV_M2"></a><a name="_DV_M5"></a><a name="_DV_M6"></a><a name="_DV_M14"></a><a name="_DV_M16"></a><a name="_DV_M30"></a><a name="_DV_M31"></a><a name="_DV_M32"></a><a name="_DV_M33"></a><a name="_DV_M34"></a><a name="_DV_M35"></a><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The accompanying consolidated financial statements include the financial statements of </font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Globus Maritime Limited</font><font style="font-family:'Times New Roman'"> (&#8220;Globus&#8221;) and its wholly owned subsidiaries (collectively the &#8220;Company&#8221;). 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 (&#8220;AIM&#8221;). On November 24, 2010, Globus was redomiciled to the Marshall Islands and its shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933, as amended. On November 26, 2010, Globus shares were effectively delisted from AIM. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The address of the registered office of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.&#160; </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (&#8220;m/v&#8221;), providing maritime services for the transportation of dry cargo products on a worldwide basis. The Company conducts its operations through its vessel owning subsidiaries.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The operations of the vessels are managed by Globus Shipmanagement Corp. (the &#8220;Manager&#8221;), a wholly owned Marshall Islands corporation. The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical, cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as of December 31, 2018:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:506.85pt; margin-left:35.45pt; border-collapse:collapse"><tr><td style="width:154.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><a name="DM_MAP_66cff8e46bf1415ea3ee90216b38f4f7"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Company</font></p></td><td style="width:85.4pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Country of Incorporation</font></p></td><td style="width:78.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Vessel Delivery</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Date</font></p></td><td style="width:145.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Vessel Owned</font></p></td></tr><tr style="height:10.5pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Globus Shipmanagement Corp.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Management Co</font></p></td></tr><tr style="height:14.2pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Devocean Maritime Ltd.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">December 18, 2007</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v River Globe</font></p></td></tr><tr style="height:15pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Domina Maritime Ltd.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">May 19, 2010</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Sky Globe</font></p></td></tr><tr style="height:13.8pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Dulac Maritime S.A.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">May 25, 2010</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Star Globe</font></p></td></tr><tr style="height:14pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Artful Shipholding S.A.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">June 22, 2011</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Moon Globe</font></p></td></tr><tr><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Longevity Maritime Limited</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Malta</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">September 15, 2011</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Sun Globe</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="_DV_M40"></a><a name="_DV_M42"></a><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On October 20, 2016, the Company effected a four-for-one reverse stock split which reduced number of outstanding common shares from 10,510,741 to 2,627,674 shares (adjustments were made based on fractional shares). On October 15, 2018, the Company effected a ten-for-one reverse stock split which reduced number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were made based on fractional shares). Unless otherwise noted, all historical share numbers and per share amounts have been adjusted to give effect to these two reverse stock splits.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The consolidated financial statements as of December 31, 2018 and 2017 and for the three years in the period ended December 31, 2018, were approved for issuance by the Board of Directors on March 26, 2019. </font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for general information about financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 51<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_51&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721872544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Preparation And Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract', window );"><strong>Basis of Preparation and Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory', window );">Basis of Preparation and Significant Accounting Policies</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><a name="_Hlk4596062"><font style="font-family:'Times New Roman'">2.&#160; Basis of Preparation and Significant Accounting Policies</font></a></h1><h1 style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-18pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h1><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><a name="_Hlk4596079"></a><a name="DM_MAP_134987cb5ea04a3dbed7e1aff4f701b2"><font style="font-family:'Times New Roman'; font-weight:bold">2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Basis of Preparation: </font></a><a name="_Hlk4596091"><font style="font-family:'Times New Roman'">The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated.</font></a></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Going concern basis of accounting: </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="_Hlk4596134"><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company was not in compliance with the loan covenants of the agreement with Hamburg Commercial Bank AG (previously known as HSH Nordbank AG) which loan balance of $22.2 million matures through December 2019. The Company did not obtain waivers and the breached covenants contained in this loan agreement constitute an event of default. In the event of default under the Hamburg Commercial Bank AG loan agreement and, due to the cross-default provisions included in the agreement with Macquarie Bank International Limited, the Company&#8217;s lenders, Hamburg Commercial Bank AG and Macquarie Bank International Limited, can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially all of the Company&#8217;s assets. Until the date of issuance of these consolidated financial statements no such action has been taken by the lenders against the Company. </font></a></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accordingly, as the Company did not have an unconditional right to defer settlement of the outstanding loan with Macquarie Bank International Limited&#160; for at least twelve months after the date of these consolidated financial statements and, as it has not refinanced the outstanding loan with Hamburg Commercial Bank AG, the total balance of the loans outstanding to Macquarie Bank International Limited and to Hamburg Commercial Bank AG aggregating to $35,368 at December 31, 2018, have been classified as current. As a result, as of December 31, 2018, the Company reported a working capital deficit of $40,412.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The above conditions raise substantial doubt about the entity&apos;s ability to continue as a going concern. The Company is exploring several alternatives aiming to manage its working capital requirements and other commitments, including drawdown of additional funds available of $12,800 under the facility with Firment Shipping Inc, if needed raising of additional debt and discussions with other financial institutions and private funds to provide the Company with refinancing of the existing loans. In this respect, on March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior convertible note (the &#8220;Convertible Note&#8221;) that is convertible into shares of the Company&#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Company will use part of the proceeds from the Convertible Note for general corporate purposes and working capital including repayment of debt.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Management expects that the lenders will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan instalments and accumulated interest as they fall due under the existing loan agreements. Management plans to settle loan interest and scheduled loan repayments with cash at hand and cash expected to be generated from the operations and from financing activities.&#160; If for any reason the Company is unable to continue as a going concern, this could have an impact on the Company&#8217;s ability to realize assets at their recognized values and to extinguish liabilities in the normal course of business at the amounts stated in these consolidated financial statements.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Statement of Compliance: </font><font style="font-family:'Times New Roman'">These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Basis of Consolidation:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><a name="DM_MAP_b48f627b3cf548a6866f01bd6107e15e"><font style="font-family:'Times New Roman'; font-weight:bold">2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Standards amendments and interpretations:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160; </font></a></p><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2018.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 9 Financial Instruments: Classification and Measurement</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In July 2014, the IASB issued the complete version of IFRS</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">9 Financial Instruments. IFRS</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">9 Financial Instruments specifies how an entity should classify and measure financial assets and financial liabilities. The new standard requires all financial assets to be subsequently measured at amortized cost or fair value depending on the business model of the legal entity in relation to the management of the financial assets and the contractual cash flows of the financial assets. The standard also requires a financial liability to be classified as either at fair value through profit or loss or at amortized cost. In addition, a new hedge accounting model was introduced, that is designed to be more closely aligned with how entities undertake risk management activities when hedging financial and non-financial risk exposures. The Company has elected to take the transition relief and not to restate prior periods with respect to classification and measurement (including impairment). Accordingly, the information presented for 2017 has not been restated.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company had no impact of transition to IFRS 9 on the opening balance of accumulated deficit.</font><a name="FIS_UNIDENTIFIED_TABLE_9"></a></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 15 Revenue from Contracts with Customers </font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 15 establishes a five-step model that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue transaction or the industry. The standard&#8217;s requirements will also apply to the recognition and measurement of gains and losses on the sale of some non-financial assets that are not an output of the entity&#8217;s ordinary activities (e.g., sales of property, plant and equipment or intangibles). Extensive disclosures will be required, including disaggregation of total revenue; information about performance obligations; changes in contract asset and liability account balances between periods and key judgments and estimates. The Company elected to apply IFRS 15 fully retrospectively. The Company has assessed that this standard does not have a material effect on its consolidated financial statements. In addition, pursuant to this standard, as of January 1, 2018, the Company elected to present Voyage revenues net of address commissions. Address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for this consideration provided to the charterer. These commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2018, 2017 and 2016, Voyage revenues and Voyage expenses each decreased by $668, $540 and $317, respectively.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 15: Revenue from Contracts with Customers (Clarifications)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The objective of the Clarifications is to clarify the IASB&#8217;s intentions when developing the requirements in IFRS 15 Revenue from Contracts with Customers, particularly the accounting of identifying performance obligations amending the wording of the &#8220;separately identifiable&#8221; principle, of principal versus agent considerations including the assessment of whether an entity is a principal or an agent as well as applications of control principle and of licensing providing additional guidance for accounting of intellectual property and royalties. The Clarifications also provide additional practical expedients for entities that either apply IFRS 15 fully retrospectively or that elect to apply the modified retrospective approach. The Company has assessed that the adoption did not have a material effect on its consolidated financial statements, other than additional disclosure requirements in the notes to the consolidated financial statements, since the Company has chartered its vessels under time charter agreements, and in this respect revenue is accounted under the leases standard.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 2: Classification and Measurement of Share based Payment Transactions (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments provide requirements on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, for share-based payment transactions with a net settlement feature for withholding tax obligations and for modifications to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled. The Company has assessed that these amendments have no impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRIC INTERPETATION 22: Foreign Currency Transactions and Advance Consideration</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Interpretation clarifies the accounting for transactions that include the receipt or payment of advance consideration in a foreign currency. The Interpretation covers foreign currency transactions when an entity recognizes a non-monetary asset or a non-monetary liability arising from the payment or receipt of advance consideration before the entity recognizes the related asset, expense or income. The Interpretation states that the date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, then the entity must determine a date of the transactions for each payment or receipt of advance consideration. The Company has assessed that this interpretation has no impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Standards issued but not yet effective and not early adopted:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">The standards and interpretations issued, but not yet effective, up to the date of issuance of the Company&#8217;s consolidated financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 16: Leases</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (&#8216;lessee&#8217;) and the supplier (&#8216;lessor&#8217;). The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The standard is effective for annual periods beginning on or after January 1, 2019. Early adoption is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16. The Company will adopt IFRS 16 as of January 1, 2019.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company expects that the most significant impact will be that the Company will recognize new assets and liabilities for its operating leases as lessee (for office rental).</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company identified the rental agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674 as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental cost of borrowing In addition, the nature and recognition of expenses related to those leases will change as IFRS 16 replaces the straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For time charters that qualify as leases, the Company will be 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. In order to prepare the future required disclosure, the residual allocation method will be used. The Company will estimate the non-lease component as the cost of operating the vessels by its technical department. The lease component to be disclosed then will be calculated as the difference between total revenue and the non-lease component revenue. </font><font style="font-family:'Times New Roman'">The Company does not expect the adoption of IFRS 16 to impact its ability to comply with the loan covenants described in Note 12</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">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</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture.&#160; The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 9 Amendment: Prepayment features with negative compensation</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendment is effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendment allows financial assets with prepayment features that permit or require a party to a contract either to pay or receive reasonable compensation for the early termination of the contract (so that, from the perspective of the holder of the asset there may be &#8216;negative compensation&#8217;), to be measured at amortized cost or at fair value through other comprehensive income. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 28 Amendments: Long-term Interests in Associates and Joint Ventures</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendments relate to whether the measurement, in particular impairment requirements, of long term interests in associates and joint ventures that, in substance, form part of the &#8216;net investment&#8217; in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination of both. The Amendments clarify that an entity applies IFRS 9 Financial Instruments, before it applies IAS 28, to such long-term interests for which the equity method is not applied. In applying IFRS 9, the entity does not take account of any adjustments to the carrying amount of long- term interests that arise from applying IAS 28. Management does not expect that these amendments will have an impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRIC INTERPETATION 23: Uncertainty over Income Tax Treatments </font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Interpretation is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation provides guidance on considering uncertain tax treatments separately or together, examination by tax authorities, the appropriate method to reflect uncertainty and accounting for changes in facts and circumstances. The Company does not expect that this interpretation will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 19: Plan Amendment, Curtailment or Settlement (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The amendments require entities to use updated actuarial assumptions to determine current service cost and net interest for the remainder of the annual reporting period after a plan amendment, curtailment or settlement has occurred. The amendments also clarify how the accounting for a plan amendment, curtailment or settlement affects applying the asset ceiling requirements. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 3: Business Combinations (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after 1 January 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of &#8216;material&#8217; (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual periods beginning on or after January 1, 2020, with earlier application permitted. The Amendments clarify the definition of material and how it should be applied. The new definition states that, &#8217;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&#8217;. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">The IASB has issued the Annual Improvements to IFRSs 2015 &#8211; 2017 Cycle</font><font style="font-family:'Times New Roman'">, which is a collection of amendments to IFRSs. The amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. Management is in the process of assessing the impact of these Amendments on the Company&#8217;s financial position or performance.</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 3 Business Combinations and IFRS 11 Joint Arrangements</font><font style="font-family:'Times New Roman'">: The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.</font></li></ul><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 12 Income Taxes</font><font style="font-family:'Times New Roman'">: The amendments clarify that the income tax consequences of payments on financial instruments classified as equity should be recognized according to where the past transactions or events that generated distributable profits has been recognized.</font></li></ul><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 23 Borrowing Costs</font><font style="font-family:'Times New Roman'">: The amendments clarify paragraph 14 of the standard that, when a qualifying asset is ready for its intended use or sale, and some of the specific borrowing related to that qualifying asset remains outstanding at that point, that borrowing is to be included in the funds that an entity borrows generally.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_764856df168c4d29a64a07f830c18f1a"><font style="font-family:'Times New Roman'; font-weight:bold">2.3&#160;&#160;&#160;&#160;&#160; Significant accounting policies, judgments, estimates and assumptions:</font><font style="font-family:'Times New Roman'; font-style:italic"> </font><font style="font-family:'Times New Roman'">The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period.&#160; 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. </font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Judgments: </font><font style="font-family:'Times New Roman'">In the process of applying the Company&#8217;s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:22.5pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Allowance for doubtful trade accounts receivable:&#160; </font><font style="font-family:'Times New Roman'">Following adoption of IFRS 9 as of January 1, 2018, the Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (&#8220;ECL&#8221;) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.</font><font style="font-size:10pt"> </font><font style="font-family:'Times New Roman'">The application of the ECL requirements under IFRS 9 did not result in the recognition of an impairment charge under the new impairment model.</font><font style="font-size:10pt"> </font><font style="font-family:'Times New Roman'">Provisions for doubtful trade accounts receivable as of December 31, 2018 and 2017 were $68 and $138, respectively. No extra allowance for impairment over these receivables was recognized in opening accumulated deficit at January 1, 2018, on transition to IFRS 9.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Estimates and assumptions: </font><font style="font-family:'Times New Roman'">The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. </font><font style="font-family:'Times New Roman'">The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Carrying amount of vessels, net</font><font style="font-family:'Times New Roman'">: Vessels are stated at cost, less accumulated depreciation </font><font style="font-family:'Times New Roman'">(including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms)</font><font style="font-family:'Times New Roman'"> and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. </font></li></ul><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Impairment of Non-Financial Assets</font><font style="font-family:'Times New Roman'">: The Company&#8217;s impairment test for non-financial assets is based on the assets&#8217; recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2018. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows and the growth rate used for extrapolation. </font><font style="font-family:'Times New Roman'">See notes 2.13 and 5</font><font style="font-family:'Times New Roman'">.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Share based payments</font><font style="font-family:'Times New Roman'; font-weight:bold">: </font><font style="font-family:'Times New Roman'">The</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 13.</font><font style="font-family:'Times New Roman'"> </font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_d742ddd86a424643b893adfe80915c58"><font style="font-family:'Times New Roman'; font-weight:bold">2.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounting for revenue and related expenses:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IAS 17 as lease income as explained in note 2.23 below. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. </font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Interest income</font><font style="font-family:'Times New Roman'">: interest income is recognised as interest on an accrual basis.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Voyage expenses</font><font style="font-family:'Times New Roman'">: Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel operating expenses</font><font style="font-family:'Times New Roman'">:&#160; Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under time charter arrangements, these expenses are paid by the charterer and by the Company under voyage charter arrangements. Vessel operating expenses are accounted for on an accruals basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_2cfc92daf29f47b6917a39767dcef4df"><font style="font-family:'Times New Roman'; font-weight:bold">2.5&#160;&#160;&#160;&#160; Foreign currency translation:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">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&#8217;s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.</font></a><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_6f8b11eeb2934f61afdff7a5c104cc46"><font style="font-family:'Times New Roman'; font-weight:bold">2.6&#160;&#160;&#160;&#160;&#160; Cash and cash equivalents:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160; </font><font style="font-family:'Times New Roman'">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.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:10pt"><a name="DM_MAP_9523cb0edf4442c38b6bee00ee6ba226"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">2.7&#160;&#160;&#160;&#160; Trade accounts receivable, net</font><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold; font-style:italic">: </font><font style="font-family:'Times New Roman'; font-size:9pt">The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, freight and demurrage billings, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently</font><font> </font><font style="font-family:'Times New Roman'; font-size:9pt">measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2018 was $68 (2017: $138).</font></a><font style="font-family:'Times New Roman'; font-size:9pt"> </font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_123bc38f1c0e416e9c7b30606997e557"><font style="font-family:'Times New Roman'; font-weight:bold">2.8&#160;&#160;&#160;&#160;&#160;&#160; Inventories:</font><font style="font-family:'Times New Roman'"> Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.</font></a></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_2b1dd51f8259424881f9d7a8f1573ed5"><font style="font-family:'Times New Roman'; font-weight:bold">2.9&#160;&#160;&#160; Vessels, net:</font><font style="font-family:'Times New Roman'"> Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses.&#160; 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). Any seller&#8217;s credit, i.e., amounts received from the seller of the vessels until date of delivery is deducted from the cost of the vessel. Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.</font></a><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><h1 style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; page-break-after:avoid; font-size:9pt"><a name="DM_MAP_63a47f75ba4d4c89902a31fa7abe0a78"><font style="font-family:'Times New Roman'">2.10&#160;&#160;&#160; Deferred dry-docking costs: </font><font style="font-family:'Times New Roman'; font-weight:normal">Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years.</font><font style="font-family:'Times New Roman'">&#160; </font><font style="font-family:'Times New Roman'; font-weight:normal">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.</font></a></h1><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:9pt"><a name="DM_MAP_c0dba1d3eebc49caaca9cc3b32a40230"><font style="font-family:'Times New Roman'; font-weight:bold">2.11</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Depreciation</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> The cost of each of the Company&#8217;s vessels is depreciated on a straight-line basis over each vessel&#8217;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 second quarter of 2016, the Company reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide. This resulted to an additional depreciation expense of $96 included in the consolidated statement of comprehensive loss for 2016. During the third quarter of 2017, the Company adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates worldwide. This resulted to a decrease of $86 to the depreciation charge included in the consolidated statement of comprehensive loss for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018.</font></a></p><p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_c3eed790c6254ce7902c7e6a972fbaba"><font style="font-family:'Times New Roman'; font-weight:bold">2.12&#160;&#160;&#160;&#160; Amortization of lease component:</font><font style="font-family:'Times New Roman'"> When the Company acquires a vessel subject to an operating lease, it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease</font><font style="font-family:'Times New Roman'; background-color:#ffffff">. The amortization is included in the line &#8220;amortization</font><font style="font-family:'Times New Roman'"> of fair value of time charter attached to vessels&#8221; in the income statement component of the consolidated statement of comprehensive loss.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_e972df5ccd814105bd27d6925826ef72"><font style="font-family:'Times New Roman'; font-weight:bold">2.13&#160;&#160;&#160;&#160; Impairment of non-financial assets:</font><font style="font-family:'Times New Roman'"> The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel&#8217;s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset&#8217;s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&#8217;s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).</font></a></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_393590f3fc0840dc92db297d73248d01"><font style="font-family:'Times New Roman'; font-weight:bold">2.14&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Long-term debt</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing.&#160; After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method.&#160; Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_59d8d57107cc46bab9f74ee6557eac0b"><font style="font-family:'Times New Roman'; font-weight:bold">2.15&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Financing costs:</font><font style="font-family:'Times New Roman'"> 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. </font><font style="font-family:'Times New Roman'">For the year ended December 31, 2018, the Company deferred financing costs of $253, which relate to the costs incurred for the new loan agreement with Macquarie Bank International Limited (see Note 12 for more details). For the years ended December 31, 2017 and 2016, the Company did not incur any financing costs.</font></a></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_2ae4ed47124a4170bcfc4598ac0e1fb5"><font style="font-family:'Times New Roman'; font-weight:bold">2.16&#160;&#160;&#160; Borrowing costs:</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under &#8220;interest expense and finance costs&#8221; except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_feac268b23cc4ed389d9cee4c511d37d"><font style="font-family:'Times New Roman'; font-weight:bold">2.17&#160;&#160;&#160; Operating segment:</font><font style="font-family:'Times New Roman'"> 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.</font></a><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_e2b355aad5f94804bfea49cf0138d534"><font style="font-family:'Times New Roman'; font-weight:bold">2.18&#160;&#160;&#160;&#160;&#160; Provisions and contingencies: </font><font style="font-family:'Times New Roman'">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. </font><font style="font-family:'Times New Roman'">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.</font></a></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_b681114fb22345b7bbc50f581297dd9c"><font style="font-family:'Times New Roman'; font-weight:bold">2.19&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Pension and retirement benefit obligations: </font><font style="font-family:'Times New Roman'">The crew on board the vessels owned by the ship-owning companies owned by Globus is under short-term contracts (usually up to nine months) and, accordingly, no one is liable for any pension or post-retirement benefits payable to the crew. </font></a></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-1.65pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Provision for employees&#8217; severance compensation: </font><font style="font-family:'Times New Roman'">The Greek employees, of the Company are bound by the Greek Labour law. Accordingly, compensation is payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age is not known. The Company has provided for the employees&#8217; retirement compensation liability which amounted to $87 as at December 31, 2018 (2017: $82), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated statement of financial position.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><a name="DM_MAP_4d1b4d4253fc4fb08d64d50cab9104e9"><font style="font-family:'Times New Roman'; font-weight:bold">2.20&#160;&#160;&#160;&#160; Offsetting of financial assets and liabilities: </font><font style="font-family:'Times New Roman'">Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.</font></a></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; font-size:9pt"><a name="DM_MAP_95e284c0345546c5bf6af5c0d9190cfa"><font style="font-family:'Times New Roman'; font-weight:bold">2.21&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial assets and liabilities:</font></a></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">i.&#160;&#160;&#160; Classification and measurement of financial assets and financial liabilities</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">it is held within a business model whose objective is to hold assets to collect contractual cash flows; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">ii.&#160;&#160;&#160; Impairment of financial assets</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 9 replaces the &apos;incurred loss&apos; model in IAS 39 with an &apos;expected credit loss&apos; (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The financial assets at amortized cost consist of trade receivables and cash and cash equivalents.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Under IFRS 9, loss allowances are measured on either of the following bases:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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&apos;s historical experience and informed credit assessment and including forward-looking information.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company considers a financial asset to be in default when:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the counterparty is unlikely to pay its contractual obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the financial asset is more than 1 year past due.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application of IFRS 9&apos;s impairment requirements at January 1, 2018, has not resulted to any additional impairment allowance.</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">iii. Derecognition of financial assets </font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the rights to receive cash flows from the asset have expired;</font></li><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">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 &#8220;pass-through&#8221; arrangement; or </font></li><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Where the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company&#8217;s continuing involvement in the asset. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:42.55pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">iv. Derecognition of Financial liabilities: </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and, the difference in the respective carrying amounts is recognised in profit or loss.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><a name="DM_MAP_e6f17eb0103243ab9c964fd51ebfbfd3"><font style="font-family:'Times New Roman'; font-weight:bold">2.22&#160;&#160;&#160;&#160;&#160; Leases &#8211; where the Company is the lessee: </font><font style="font-family:'Times New Roman'; letter-spacing:-0.1pt">Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the </font><font style="font-family:'Times New Roman'">income statement component of the </font><font style="font-family:'Times New Roman'; letter-spacing:-0.1pt">consolidated statement of comprehensive loss on a straight-line basis over the period of the lease.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><a name="DM_MAP_742bc7c4e7844a0abfb61cc4c5555886"><font style="font-family:'Times New Roman'; font-weight:bold">2.23&#160;&#160;&#160;&#160;&#160;&#160; Leases &#8211; where an entity is the lessor: </font><font style="font-family:'Times New Roman'">Leases of vessels where the entity does not transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the period in which they are earned.</font></a><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><a name="DM_MAP_5e9c458bc71245d0acff04f027c8850b"><font style="font-family:'Times New Roman'; font-weight:bold">2.24&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insurance: </font><font style="font-family:'Times New Roman'">The Company recognizes insurance claim recoveries for insured losses incurred on damage to vessels.&#160; Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company&#8217;s vessels suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the amounts are virtually certain to be received.</font></a><font style="font-family:'Times New Roman'">&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;</font><a name="DM_MAP_3b26d69743c9473bb70ad5de782309ce"><font style="font-family:'Times New Roman'; font-weight:bold">2.25&#160;&#160;&#160;&#160; Share based compensation: </font><font style="font-family:'Times New Roman'">Globus operates equity-settled, share-based compensation plans. The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact in equity.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">&#160;</font><a name="DM_MAP_62cacb314c15401bba2a964b36528035"><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">2.26&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Share capital</font><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">: </font><font style="font-family:'Times New Roman'">Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; letter-spacing:-0.1pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><a name="DM_MAP_98484283ae9e4c19a3c8fb238d7596b0"><font style="font-family:'Times New Roman'; font-weight:bold">2.27&#160;&#160;&#160;&#160;&#160; Dividends</font><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">: </font><font style="font-family:'Times New Roman'">Dividends to shareholders are recognised in the period in which the dividends are declared and appropriately authorised and are accounted for as dividends payable until paid.</font></a><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><a name="DM_MAP_9b6e2066ca79418489113b31cc1d853e"><font style="font-family:'Times New Roman'; font-weight:bold">2.28&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair value measurement:</font><font style="font-family:'Times New Roman'"> The Company measures financial instruments, such as, derivatives and non-financial assets&#160; at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised cost are disclosed in note 22. 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&#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company uses the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each reporting period. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company engaged independent valuation specialists to determine the fair value of non-financial assets</font><font style="font-family:'Times New Roman'">&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_497d4fc0444e4a8bb9bca9163e75da9b"><font style="font-family:'Times New Roman'; font-weight:bold">2.29</font><font style="font-family:'Times New Roman'">&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Current versus non-current classification:</font><font style="font-family:'Times New Roman'"> The Company presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. </font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-7.1pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">An asset as current when it is:</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Expected to be realised or intended to be sold or consumed in a normal operating cycle </font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Held primarily for the purpose of trading </font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Expected to be realised within twelve months after the reporting period</font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Cash or cash equivalent</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All other assets are classified as non-current. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">A liability is current:</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is expected to be settled in a normal operating cycle</font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is held primarily for the purpose of trading </font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is due to be settled within twelve months after the reporting period</font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All other liabilities are classified as non-current</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_fedaf76d341940978d34534fffa26beb"><font style="font-family:'Times New Roman'; font-weight:bold">2.30</font><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Embedded Derivatives:</font><font style="font-family:'Times New Roman'"> An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3):</font></a></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(a) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(c) the hybrid contract is not measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial liability at fair value through profit or loss is not separated).</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s embedded derivativesare separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative financial liabilities as of December 31, 2018 (see Note 12). The fair value of the embedded derivative instrument at December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, is estimated using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield as the Company does not expect to pay a dividend on the foreseeable future, (b) weighted average expected volatility of 80%, (c) risk free rate of 2.48% determined by management using the applicable Treasury Bill as of the measurement date, (d) market value of common stock $2.88 and (e) expected life of 1.89 years as at December 31, 2018.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant accounting policies applied by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721853536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and Cash Equivalents And Restricted Cash<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory', window );">Cash and cash equivalents and Restricted cash</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cash and cash equivalents and Restricted cash</font></h1><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For the purpose of the consolidated statement of financial position, cash and cash equivalents comprise the following:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:428.3pt; margin-left:36pt; border-collapse:collapse"><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_cbc365bf592c4f1796cae9160ac4d42b"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="2" style="width:106.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-indent:21.9pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:52.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:43.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Cash on hand</font></p></td><td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">46</font></p></td><td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Cash at banks</font></p></td><td style="width:52.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:43.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,756</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">46</font></p></td><td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,756</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Cash held in banks earns interest at floating rates based on daily bank deposit rates.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The fair value of cash and cash equivalents as at December 31, 2018 and 2017, was $46 and $2,756, respectively. In addition as of December 31, 2018, the Company had available $12,800 (2017: $3,000) of undrawn borrowing facilities (note 12).&#160; </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As at December 31, 2018 and 2017, the Company had pledged an amount of $1,350 and $210, respectively in order to fulfil collateral requirements. The fair value of restricted cash as at December 31, 2018 and 2017, was $1,350 and $210, respectively. The cash and cash equivalents are held with reputable bank and financial institution counterparties.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721952176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract', window );"><strong>Disclosure of transactions between related parties [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory', window );">Transactions with Related Parties</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transactions with Related Parties</font></h1><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The ultimate controlling party of the Company is Mr. George Feidakis who beneficially owns 1,420,163 common shares as of December 31, 2018, through Firment Shipping Inc., a Marshall Islands corporation controlled by Mr Feidakis. As at December 31, 2018 and 2017, Mr Feidakis beneficially owned 44.3% and 58.7%, respectively, of Globus&#8217; shares. Mr. George Feidakis is also the chairman of the Board of Directors of Globus.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The following are the major transactions which the Company has entered into with related parties during the years ended December 31, 2018, 2017 and 2016:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In August 2006, Globus had entered into a rental agreement for 350 square metres of office space for its operations within a building owned by Cyberonica S.A. (an affiliate of Globus&#8217;s chairman).&#160; In 2016 the Company renewed the rental agreement at a monthly rate of Euro 10,360 (absolute amount) ($11.9) with a lease period ending January 2, 2025. The Company does not presently own any real estate.&#160; During the years ended December 31, 2018, 2017 and 2016, rent expense was $147, $140 and $138, respectively. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The expense is recognised in the income statement component of the consolidated statement of comprehensive loss under administrative expenses payable to related parties. As of December 31, 2018 and 2017, $427 and $471 of rent expense, respectively was due and unpaid. Rent expense payable to related parties is classified as trade accounts payable in the consolidated statement of financial position.&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 28, 2015, Athanasios Feidakis assumed the position of Chief Executive Officer (&#8220;CEO&#8221;) and Chief Financial Officer. On August 18, 2016, the Company entered into a consultancy agreement with an affiliated company of its CEO, Mr. Athanasios Feidakis, for the purpose of providing consulting services to the Company in connection with the Company&#8217;s international shipping and capital raising activities, including but not limited to assisting and advising the Company&#8217;s CEO at an annual fee of Euro 200,000 (absolute amount) (approx. $229). The related expense for the years ended December 31, 2018, 2017 and 2016, amounted to $235, $229 and $97, respectively.</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In December 2013, Globus entered into a credit facility for up to $4,000 with Firment Trading Limited, an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (&#8220;Firment Credit Facility&#8221;). Effective from December 2014, through a supplemental agreement in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through a second supplemental agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a third supplemental agreement, the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall Islands corporation, each of which is an affiliate of the Company&#8217;s chairman. The Company had the right to drawdown any amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On February 8, 2017, the Company entered into a Share and Warrant Purchase Agreement (&#8220;February 2017 private placement&#8221;) pursuant to which it sold for $5,000 an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &#8220;February 2017 Warrants&#8221;) to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor is the sister of the CEO of Globus and the daughter of its chairman. These securities were issued in transactions exempt from registration under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In connection with the closing of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">One loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12, 2017. Firment Trading Limited waived any interest under Firment Credit Facility for 2017. For the year ended December 31, 2016, Globus recognized interest expense of $608.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In January 2016, Globus Maritime Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (&#8220;the Silaner Credit Facility&#8221;) The Silaner Credit Facility was unsecured and remained available until its final maturity date at January 12, 2018. The Company had the right to drawdown any amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged on the amounts remaining available and undrawn.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For the years ended December 31, 2017 and 2016, Globus recognised interest expense of $3 and $74, respectively. The expense was classified in the income statement component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable is classified in the statement of financial position under accrued liabilities and other payables.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The second loan amendment agreement in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share. During 2017, the Company drew down $ 280 under this facility. As of December 31, 2017, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. The Silaner Credit Facility was terminated on January 12, 2018. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In June 2016, Globus Maritime Limited entered into a consultancy agreement with Eolos Shipmanagement S.A., an affiliate of the Company&#8217;s chairman, for the purpose of providing consultancy services to Eolos Shipmanagement S.A. For these services the Company received a daily fee of $1. This agreement was terminated on January 31, 2017. For the year ended 2018, 2017 and 2016, the total income from these fees amounted to nil, $31 and $187, respectively and is classified in the income statement component of the consolidated statement of comprehensive loss under management and consulting fee income.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In November 2018, Globus entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (&#8220;Firment Shipping Credit Facility&#8221;. The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right to drawdown any amount up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee is charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the Drawdown Date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility&#160; into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&#8220;VWAP&#8221;) over the pricing period multiplied by 80%, where the &#8220;Pricing Period&#8221; equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or, (ii) Two US Dollars and Eighty Cents ($2.80).</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was $2,200 and was classified under long-term borrowings, net of the current portion and the fair value of the derivative financial instruments in the consolidated statement of financial position(see Note 12). For the year ended December 31, 2018, Globus recognised interest expense of $12, classified in the income statement component of the consolidated statement of comprehensive loss under interest expense and finance costs and interest payable is classified in the consolidated statement of financial position under accrued liabilities and other payables. As of December 31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Firment Shipping Credit Facility requires that Athanasios Feidakis remain the Company&#8217;s Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018 the Company in compliance with the loan covenants of the Firment Shipping Credit Facility.</font></p><h6 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h6><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><h6 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">Compensation of Key Management Personnel of the Company: </font></h6><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Compensation to Globus non-executive directors is analysed as follows:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:428.6pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_d202caba3c2f4fcc9dd80464ba7dc9bc"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="3" style="width:216pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Director&#8217;s remuneration </font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">145</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">145</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">130</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share-based payments</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">40</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">40</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">35</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">185</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">185</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">165</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018 and 2017, $201 and $126 of the compensation to non-executive directors was remaining due and unpaid, respectively. Amounts payable to non-executive directors are classified as trade accounts payable in the consolidated statements of financial position.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compensation to the Company&#8217;s executive director is analysed as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:427pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_ed1c9704e7b84326a61619e5f1a9f47b"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="3" style="width:214.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:80.85pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Short-term employee benefits </font></p></td><td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">235</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">229</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">82</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share-based payments</font></p></td><td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:80.85pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">235</font></p></td><td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">229</font></p></td><td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">97</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018 and 2017, $391 and $239 of the compensation to the executive director was remaining due and unpaid, respectively.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of transactions between the entity and its related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_18&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721853536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels, net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract', window );"><strong>Vessels, net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory', window );">Vessels, net</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">5&#160; Vessels, net </font></h1><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The amounts in the consolidated statement of financial position are analysed as follows: </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:450.05pt; border-collapse:collapse; text-align:left"><tr style="height:37pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_682b7e44aca24a06808dc25f4159352b"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessels cost</font></p></td><td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessels accumulated depreciation</font></p></td><td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Dry docking costs</font></p></td><td style="width:64pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Accumulated depreciation of dry docking costs</font></p></td><td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net Book Value</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at January 1, 2016</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">198,803</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(90,086)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,976</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2,618)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">110,075</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">478</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">478</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Sale of subsidiary</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(19,647)</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">7,200</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(600)</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">276</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(12,771)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,985)</font></p></td><td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,005)</font></p></td><td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,990)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2016</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,156</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(87,871)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,854</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(3,347)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">91,792</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">245</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">976</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,221</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,831)</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(862)</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,693)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2017</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,401</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(92,702)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,830</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(4,209)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">87,320</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">26</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,148</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,174</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,578)</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,166)</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,744)</font></p></td></tr><tr style="height:13.6pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2018</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,427</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(97,280)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,978</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(5,375)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">83,750</font></p></td></tr></table><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#160; </font></h1><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For the purpose of the consolidated statement of comprehensive loss, depreciation, as stated in the income statement component, comprises the following:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.25pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_91af3687516e4a349166a90e7a260bbd"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="3" style="width:232.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31,</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13.65pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Vessels depreciation</font></p></td><td style="width:77.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,578</font></p></td><td style="width:74.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,831</font></p></td><td style="width:59.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,985</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation on office furniture and equipment</font></p></td><td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:77.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,601</font></p></td><td style="width:74.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,854</font></p></td><td style="width:59.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">5,014</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s vessels have been pledged as collateral to secure the bank loans discussed in note 12.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Impairment of non-financial assets:</font><font style="font-family:'Times New Roman'"> </font><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company performed an assessment on whether there were indicators that a vessel(s) may be impaired. As impairment indicators were identified, discounted future cash flows for each vessel were determined and compared to the vessel&#8217;s carrying value. The projected net discounted future cash flows for the first year were determined by considering an estimated daily time charter equivalent based on the most recent blended (for modern and older vessels) FFA (i.e. Forward Freight Agreements) time charter rate for the year of 2019 for each type of vessel. For the remaining useful life of the vessels, the Company used the historical ten-year blended average one-year time charter rates substituting for the year 2016 that was considered as extreme values, with the year 2006. The rates were adjusted assuming an annual growth rate of 1.7% as published by the International Monetary Fund, net of commissions. Expected outflows for scheduled vessels maintenance were taken into consideration as well as vessel operating expenses assuming an average annual increase rate of 1% based on the historical trend deriving from actual results for the Company&#8217;s vessels since their delivery under Company&#8217;s technical management. The average time charter rates used were in line with the overall chartering strategy, especially in periods/years of depressed charter rates; reflecting the full operating history of vessels of the same type and particulars with the Company&#8217;s operating fleet (Supramax and Panamax vessels with a deadweight (&#8220;dwt&#8221;) of over 50,000 and 70,000, respectively) and they covered at least one full business cycle. Effective fleet utilization was assumed at 90% (including ballast days), taking into account the period(s) each vessel is expected to undergo her scheduled maintenance (dry-docking and special surveys), as well as an estimate of the period(s) needed for finding suitable employment and off-hire for reasons other than scheduled maintenance, assumptions in line with the Company&#8217;s expectations for future fleet utilization under the current fleet deployment strategy. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, 2017 and 2016, no impairment loss was recognized </font><font style="font-family:'Times New Roman'">as the vessels&#8217; recoverable amounts exceeded their carrying amounts</font><font style="font-family:'Times New Roman'">.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739181936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfInventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInventoriesExplanatory', window );">Inventories</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Inventories</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Inventories in the consolidated statement of financial position are analysed as follows:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:428.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_7ef5af336736464bb7a22bc2e1d097fc"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="2" style="width:130.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57.45pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:62.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Lubricants </font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">313</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">328</font></p></td></tr><tr style="height:12.75pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Gas cylinders </font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">78</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">63</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers</font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">259</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">270</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:57.45pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">650</font></p></td><td style="width:62.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">661</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfInventoriesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfInventoriesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInventoriesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInventoriesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721853536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Prepayments And Other Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentAssetsAbstract', window );"><strong>Prepayments and other assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory', window );">Prepayments and other assets</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prepayments and other assets</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Prepayments and other assets in the consolidated statement of financial position are analysed as follows:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.15pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_03fdfbf803eb4c0f8f9e0f1de7eff761"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="2" style="width:128.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:58.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers </font></p></td><td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">216</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other prepayments and other assets</font></p></td><td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">171</font></p></td><td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">210</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:58.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">171</font></p></td><td style="width:58.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">426</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of prepayments and other assets. [Refer: Other assets; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739091536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Trade Accounts Payable<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesAbstract', window );"><strong>Trade accounts payable [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory', window );">Trade accounts payable</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Trade accounts payable</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Trade accounts payable in the consolidated statement of financial position as at December 31, 2018 and 2017, amounted to $6,433 and $4,258, respectively. Trade accounts payable are non-interest bearing.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722043072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accrued Liabilities And Other Payables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract', window );"><strong>Accrued liabilities and other payables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory', window );">Accrued liabilities and other payables</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accrued liabilities and other payables&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:48pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued liabilities and other payables in the consolidated statement of financial position are analysed as follows:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:439.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_d713e014f05a4893abbbdeceb214b03c"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="5" style="width:119.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:61.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td colspan="2" style="width:47.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued interest</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">114</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">274</font></p></td><td style="border-top-style:solid; border-top-width:1pt; vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued audit fees</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">57</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other accruals</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">999</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">996</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Insurance deductibles </font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">102</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">139</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.5pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other payables</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">47</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">46</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.5pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:18.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,319</font></p></td><td colspan="2" style="width:47.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,455</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:0pt"><td style="width:39.55pt"></td><td style="width:269.65pt"></td><td style="width:39.55pt"></td><td style="width:31.05pt"></td><td style="width:3.6pt"></td><td style="width:54.4pt"></td><td style="width:2.1pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Interest is normally settled quarterly throughout the year.</font></li><li style="margin-left:27.14pt; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Other payables are non-interest bearing.</font></li></ul></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of accrued expenses and other liabilities. [Refer: Accruals; Other liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739139248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital And Share Premium<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract', window );"><strong>Disclosure of classes of share capital [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory', window );">Share Capital and Share Premium</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">10&#160;&#160;&#160;&#160;&#160;&#160;&#160; Share Capital and Share Premium</font></h1><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The authorised share capital of Globus consisted of the following:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:410.2pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_eff0d5d09b02480a8558821cd6540876"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="3" style="width:156.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:33.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Authorised share capital:</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">500,000,000 Common shares of par value $0.004 each</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">100,000,000 Class B Common shares of par value $0.001 each</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">100,000,000 Preferred shares of par value $0.001 each </font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total authorised share capital</font></p></td><td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:33.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Holders of the Company&#8217;s common shares and Class B shares have equivalent economic rights, but holders of Company&#8217;s common shares are entitled to one vote per share and holders of the Company&#8217;s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares.&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:418.15pt; margin-left:42.55pt; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; font-size:9pt"><a name="DM_MAP_fddb13c7ac854a2e8a98cd5f060e8da7"><font style="font-family:'Times New Roman'; font-weight:bold">Common Shares issued and fully paid</font></a></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of shares </font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">USD</font></p></td></tr><tr style="height:12.75pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at January 1, 2016</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">257,965</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,790</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2016</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">262,755</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,094</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,750,000</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock due to exercise of warrants</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">148,181</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2017</font></p></td><td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,163,030</font></p></td><td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,797</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock due to exercise of warrants</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,500</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td><td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,209,327</font></p></td><td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On February 8, 2017, the Company entered into a Share and Warrant Purchase Agreement (&#8220;February 2017 private placement&#8221;) pursuant to which it sold for $5,000, an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the &#8220;February 2017 Warrants&#8221;) to purchase 2.5 million of its common shares at a price of $16 per share to four investors in a private placement. One investor is the CEO&#8217;s sister and the daughter of its chairman. These securities were issued in transactions exempt from registration under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In connection with the closing of the February 2017 private placement, the Company also entered into two loan amendment agreements with existing lenders.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">One loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The second loan amendment agreement in connection with the closing of the February 2017 private placement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share.</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Further to the February 2017 private placement two investors, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised their warrants in 2017 purchasing 148,181 shares for the aggregate gross proceeds to the Company of approximately $2,371. In January 2018 one investor, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised its warrants, purchasing 37,500 of the Company&#8217;s common shares for aggregate gross proceeds to the Company of approximately $600. Each of the February 2017 Warrants were exercisable for 24 months after their respective issuance.</font><font style="font-family:'Times New Roman'">. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018 and 2017, in connection with the February 2017 private placement, the February 2017 Warrants outstanding were exercisable for an aggregate of 3,052,321 and 3,089,821 common shares respectively.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On October 19, 2017, the Company entered into a Share and Warrant Purchase Agreement (the &#8220;October 2017 SPA&#8221;) pursuant to which it sold for $2,500 an aggregate of 250,000 of its common shares, par value $0.004 per share and a warrant (the &#8220;October 2017 Warrant&#8221;) to purchase 1.25 million of its common shares at a price of $16 per share to an investor in a private placement (the &#8220;October 2017 Private Placement&#8221;). These securities were issued in transactions exempt from registration under the Securities Act of 1933, as amended. On that day, Company also entered into a registration rights agreement with the purchaser providing it with certain rights relating to registration under the Securities Act of the 250,000 common shares issued in connection with the October 2017 Private Placement and the common shares underlying the October 2017 Warrant.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Under the terms of the October 2017 Warrant, the purchaser may not exercise its warrant to the extent such exercise would cause the purchaser, together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&#8217; notice, but not to exceed 9.99%) of Globus&#8217;s then outstanding common shares immediately following such exercise, excluding for purposes of such determination common shares issuable upon exercise of the October 2017 Warrant which have not been exercised. This provision does not limit the purchaser from acquiring up to 4.99% of our common shares, selling all of its common shares, and re-acquiring up to 4.99% of our common shares. The October 2017 Warrant is exercisable for 24 months after its issuance. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018 and 2017, in connection with the </font><font style="font-family:'Times New Roman'">October 2017 SPA</font><font style="font-family:'Times New Roman'">, the October 2017 Warrant was outstanding and exercisable for an aggregate of 1,250,000 common shares.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company during 2017 had recorded $218 expense in connection with these warrants which was deducted from share premium in equity.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">During the years ended December 31, 2018, 2017 and 2016, Globus issued 8,797, 2,094 and 4,790 common shares respectively as share-based payments. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:411pt; margin-left:56.7pt; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><a name="DM_MAP_85b287a34ace44e89ffdcb4fa14edbce"><font style="font-family:'Times New Roman'; font-weight:bold">Series A Preferred&#160; Shares issued</font></a></p></td><td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of shares </font></p></td><td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">USD</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As a January 1, 2016</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,567</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Shares redeemed by the issuer</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2,567)</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2)</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2016</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year </font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2017</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year </font></p></td><td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The holders of Company&#8217;s series A preferred shares were entitled to receive, if funds were legally available, dividends payable in cash in an amount per share to be determined by unanimous resolution of Company&#8217;s Remuneration Committee, in its sole discretion. Globus&#8217;s board of directors or Remuneration Committee would determine whether funds were legally available under the Marshall Islands Business Corporations Act (&#8220;BCA&#8221;) for such dividend.&#160; Any accrued but unpaid dividends would not bear interest.&#160; Except as could have been provided in the BCA, holders of the series A preferred shares did not have any voting rights.&#160; Upon the Company&#8217;s liquidation, dissolution or winding up, the holders of its series A preferred shares would be entitled to a preference in the amount of the declared and unpaid dividends, if any, as of the date of liquidation, dissolution or winding up.&#160; The series A preferred shares were not convertible into any of its other capital stock. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In July 2016 the 2,567 series A preferred shares, granted to the Company&#8217;s former Chief Executive Officer were redeemed and as of December 31, 2018 and 2017 the Company had no series A preferred shares outstanding.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, 2017 and 2016, no Class B shares were outstanding.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share premium includes the contribution of Globus&#8217; shareholders to the acquisition of the Company&#8217;s vessels. Additionally, share premium includes the effects of the Globus initial and follow-on public offerings, the effects of the settlement of the related party loans (note 4) with the issuance of the Company&#8217;s common shares and the effects of the share based payments described in note 13. Accordingly, at December 31, 2018, 2017 and 2016, Globus share premium amounted to $140,334, $139,684 and $110,013, respectively.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share capital, reserves and other equity interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721922224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loss Per Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Loss per share [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEarningsPerShareExplanatory', window );">Loss per Share</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">11&#160;&#160;&#160;&#160;&#160;&#160;&#160; Loss per Share</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Basic loss per share (&#8216;&#8216;LPS&#8217;&#8217;) is calculated by dividing the net loss for the year attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding.&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Diluted loss per share is calculated by dividing the net loss attributable to common equity holders of the parent by the weighted average shares outstanding during the year plus the weighted average number of common shares that would be issued on the conversion of all the dilutive potential common shares into common shares. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company excluded the dilutive effect of 4,302,321 of potential common shares issuable upon exercise of warrants as their effect was anti-dilutive.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The following reflects the loss and share data used in the basic and diluted loss per share computations:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:471.6pt; margin-left:28.35pt; border-collapse:collapse"><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_c52b1d40abae485abb222b054c1e1f3f"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="3" style="width:215pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:51.3pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Loss attributable to common equity holders</font></p></td><td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(3,568)</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(6,475)</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(9,825)</font></p></td></tr><tr style="height:13.5pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Weighted average number of shares for basic and diluted LPS</font></p></td><td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3,200,927</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,574,995</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">260,384</font></p></td></tr></table><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h1></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEarningsPerShareExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEarningsPerShareExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6628835472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract', window );"><strong>Disclosure of detailed information about borrowings [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfBorrowingsExplanatory', window );">Long-Term Debt, net</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">12&#160;&#160;&#160;&#160;&#160;&#160;&#160; Long-Term Debt, net&#160; </font></h1><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Long-term debt in the consolidated statement of financial position is analysed as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:495.05pt; border-collapse:collapse; text-align:left"><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; font-size:9pt"><a name="DM_MAP_13d5eaaf62cd4a82beca3b4a33ea4583"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td style="width:273pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Borrower</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Loan Balance</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unamortized Debt Discount</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total Borrowings</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Devocean Maritime Ltd., Domina Maritime Ltd. </font><font style="font-family:'Times New Roman'">&amp; Dulac Maritime S.A.</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(46)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,117</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(c)</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Globus Maritime Ltd.</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,500</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,500</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(d) </font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Artful Shipholding S.A. &amp; Longevity Maritime Limited</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,500</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(249)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,251</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total at December 31, 2018</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37,163</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(295)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">36,868</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less: Current Portion</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(35,663)</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">295</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(35,368)</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-Term Portion</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,500</font></p></td><td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,500</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:60.05pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total at December 31, 2017</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,660</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(122)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,538</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less: Current Portion</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(41,660)</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">122</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(41,538)</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-Term Portion</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">In February 2015, Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. (&#8220;Devocean et al.&#8221;), vessel owning companies of m/v River Globe, m/v Sky Globe and m/v Star Globe, respectively, entered into a loan agreement for up to $30,000 with Hamburg Commercial Bank AG (formerly known as HSH Nordbank AG) (the &#8220;Bank&#8221;) for the purpose of partially prepaying the then outstanding secured reducing revolving credit facility with Credit Suisse AG. The loan facility is in the names of Devocean Maritime Ltd., Domina Maritime Ltd and Dulac Maritime S.A. as the borrowers and is guaranteed by Globus (&#8220;Guarantor&#8221;). The loan facility bears interest at LIBOR plus a margin of 3.00% for interest periods of three months and 3.10% for interest periods of one month. This Hamburg Commercial loan facility was referred as HSH Loan Facility in previous reports of the Company and it continued to be the same facility as the Bank changed its name from HSH Nordbank AG to Hamburg Commercial Bank AG in February 2019. </font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On March 3, 2015, Devocean et al. drew down $29,405 as analyzed below and the Company prepaid $30,000 to Credit Suisse AG reducing the balance due to Credit Suisse AG to $5,000, which was settled in July 2015.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Tranche (A) of $8,580 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v River Globe. The balance outstanding of tranche (A) at December 31, 2018, was $6,095 payable in 4 equal quarterly installments of $239 starting, March 2019, as well as a balloon payment of $5,139 due together with the 4th and final installment due in December 2019. </font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Tranche (B) of $10,100 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Sky Globe. The balance outstanding of tranche (B) at December 31, 2018, was $7,697 payable in 4 equal quarterly installments of $230 starting, March 2019, as well as a balloon payment of $6,777 due together with the 4th and final installment due in December 2019.</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Tranche (C) of $10,725 for the purpose of prepaying to Credit Suisse AG the amount outstanding with respect to the m/v Star Globe. The balance outstanding of tranche (C) at December 31, 2018, was $8,371 payable in 4 equal quarterly installments of $224 starting, March 2019, as well as a balloon payment of $7,475 due together with the 4th and final installment due in December 2019.</font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The loan is secured by, among other things:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">First preferred mortgage over m/v River Globe, m/v Sky Globe and m/v Star Globe. </font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Guarantees from the vessel owning companies and from Globus.</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">First preferred assignment of all insurances and earnings of the mortgaged vessels. </font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Assignment of charter in respect of each vessel and an assignment of any guarantee or security in respect of such charters.</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Assignment of any related hedging agreements. </font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 18pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The original loan agreement contains various covenants requiring the vessels owning companies and Globus to ensure that:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the aggregate fair market value of the mortgaged vessels must equal or exceed 125% of the outstanding balance under the loan agreement. </font></li><li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the ratio of the Company&#8217;s total liabilities to its market adjusted total assets shall not exceed 75%.</font></li><li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the Company maintains a minimum market adjusted net worth of more than or equal $30,000.</font></li><li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the vessel owning subsidiaries must each maintain a minimum liquidity of $250 in an account pledged to the bank,</font></li><li style="margin-left:47.6pt; text-align:justify; line-height:12pt; padding-left:9.1pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the Company shall maintain a minimum liquidity of greater than 5% of its consolidated indebtedness.&#160;&#160; </font></li></ul><p style="margin-top:0pt; margin-right:6.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 6.45pt 0pt 21.3pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On July 10, 2017, the Company entered a Second Supplemental Agreement for the period from March 4, 2017 to March 3, 2018. The main points agreed in this Second Supplemental Agreement were:</font></p><p style="margin:0pt 6.45pt 0pt 21.3pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Additional deferrals to the last scheduled repayment date of the principal amount of the loan during the period from June 3, 2016 through March 3, 2018, of $956 in relation to Devocean, $920 in relation to Domina, and $898 in relation to Dulac. </font></li><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Deferral fee of 2.5 per cent per annum on the additional deferred amounts calculated from March 4, 2017 until March 3, 2018. </font></li><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Prepayment of $1,000 on or before September 27, 2017, which has been settled.</font></li><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Undertaking that the Company to raise at least $1,800 from its shareholders by December 31, 2017, which has been satisfied.</font></li><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Restriction of the borrowers to make distributions or other payments to the Company so long as such additional deferred amounts remain outstanding.</font></li><li style="margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Waiver from June 3, 2016 through March 3, 2018, of the requirement that the Company maintains a net worth of at least $30,000 and holds cash on a consolidated basis with its subsidiaries of at least 5% of their consolidated indebtedness.</font></li></ul><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2017, the Company was in compliance with the covenants of </font><font style="font-family:'Times New Roman'">Hamburg Commercial Bank AG </font><font style="font-family:'Times New Roman'">loan agreement, as amended and in effect.</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">During 2018 and after the expiration of the Second Supplemental Agreement, the Company did not obtain further waivers and the breached covenants contained in this loan agreement constituted an event of default. Although the loan matures and is to be settled in full through December 2019, due to the event of default, Hamburg Commercial Bank AG can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt. Until the date of issuance of these consolidated financial statements no such action had been taken by the lender against the Company.&#160; </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company was not in compliance with the loan covenants of the Hamburg Commercial Bank AG </font><font style="font-family:'Times New Roman'">loan agreement</font><font style="font-family:'Times New Roman'">. </font><font style="font-family:'Times New Roman'">In more detail:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ol type="i" style="margin:0pt; padding-left:0pt"><li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"><font>The aggregate amount of cash held by the Company on a consolidated basis should, on each day, exceed an amount in dollars equal to 5% of the Total Indebtedness. The Company&#8217;s cash as of December 31, 2018, was $46 whereas it should have been $1,893.</font></li><li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"><font>Tangible Net Worth should not at any time be less than $30,000. As of December 31, 2018, the Company&#8217;s Tangible Net Worth was $13,550.</font></li><li style="margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"><font>The ratio of Total Liabilities to the Market Value Adjusted Assets should at all times be less than 0.75:1.00. The Company&#8217;s ratio as of December 31, 2018, was 0.77:1.00.</font></li></ol><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ol start="4" type="i" style="margin:0pt; padding-left:0pt"><li style="margin-right:7.05pt; margin-left:41pt; text-align:justify; padding-left:13pt; font-family:'Times New Roman'; font-size:9pt"><font>The Borrowers should maintain in the Minimum Liquidity Account at all times cash balances in an aggregate amount of no less than Two hundred and fifty thousand dollars ($250) per Mortgaged Ship; therefore, it should have $750 for the three vessels. The Company had $600 as restricted cash as of December 31, 2018, </font></li></ol><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">(b)</font><font style="font-family:'Times New Roman'; font-size:9pt">&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:9pt">In June 2011, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&#8220;Artful&#8221;) and Longevity Maritime Limited (&#8220;Longevity&#8221;), entered into the DVB Loan Agreement for an amount up to $40,000 with DVB Bank SE and used funds borrowed thereunder to finance part of the purchase price for the m/v Moon Globe and m/v Sun Globe.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">In June 2011, $19,000 was drawn down (Tranche A) for the purpose of partly financing the acquisition of the m/v Moon Globe and in September 2011, $18,000 was drawn (Tranche B) for the purpose of partly financing the acquisition of the m/v Sun Globe. As at December 13, 2018, the balance of both tranches of $15,010 was fully repaid using the proceedings from the new loan agreements with Macquarie Bank International Limited and Firment Shipping Inc.</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Book Antiqua'; font-weight:bold">(c)</font><font style="font-family:'Book Antiqua'">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">In November 2018, Globus Maritime Limited entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (Note 4). The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at November 19, 2020. The Company has the right to drawdown any amount of up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount can be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the drawdown date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. </font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (&#8220;VWAP&#8221;) over the pricing period multiplied by 80%, where the &#8220;Pricing Period&#8221; equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or (ii) Two US Dollars and Eighty Cents ($2.80). </font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As per the conversion clause included in the Firment Shipping Credit Facility, the Company has recognized this agreement as a hybrid agreement which includes an embedded derivative. This embedded derivative was separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. For the year ended December 31, 2018, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was $2,200. The non-derivative host was classified under &#8220;long-term borrowings&#8221; in the consolidated statement of financial position and was $1,500 and the derivative component that was initially recognized amounted to $700 and was classified under &#8220;fair value of derivative financial instruments&#8221; in the consolidated statement of financial position. </font><font style="font-family:'Times New Roman'">For the year ended December 31, 2018, the Company recognized a loss on this derivative financial instrument amounting to $131, which was classified under &#8220;loss on derivative financial instruments&#8221; in the consolidated statement of comprehensive loss.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, there was an amount of $12,800 available to be drawn under the Firment Shipping Credit Facility.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Firment Shipping Credit Facility requires that Athanasios Feidakis remain our Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company in compliance with the loan covenants of the Firment Shipping Credit Facility.</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">(d)</font><font style="font-family:'Times New Roman'; font-size:9pt">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:9pt">In December 2018, Globus through its wholly owned subsidiaries, Artful Shipholding S.A. (&#8220;Artful&#8221;) and Longevity Maritime Limited (&#8220;Longevity&#8221;), entered into the Macquarie Loan Agreement for an amount up to $13,500 with Macquarie Bank International Limited and used funds borrowed thereunder to refinance part of the repayment of the existing DVB Loan Agreement for the m/v Moon Globe and m/v Sun Globe. Globus acts as guarantor for this loan. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">In December 2018, $6,000 (Artful Advance) and $7,500 (Longevity Advance) were drawn down for the purpose of partly refinancing the existing DVB Loan Agreement for m/v Moon Globe and m/v Sun Globe, respectively.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">Artful Advance is payable in 20 quarterly installments of approximately $222, starting in March 2019 and a balloon payment of approximately $1,560 payable together with the 20th and last installment payable in December 2023.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">Longevity Advance is payable in 20 quarterly installments of approximately $221, starting in March 2019 and a balloon payment of approximately $3,080 payable together with the 20th and last installment payable in December 2023.</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The loan is secured by, among other things:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">First preferred mortgage over m/v Moon Globe and m/v Sun Globe. </font></li><li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Guarantees from the vessel owning companies and from Globus.</font></li><li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Assignment of all insurances and earnings of the mortgaged vessels. </font></li><li style="margin-right:7.05pt; margin-left:44.59pt; text-align:justify; padding-left:12.11pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Account pledges respecting the minimum liquidity accounts and operating accounts of the Company described in the loan agreement.</font></li></ul><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:0.55pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:9pt">The original loan agreement and/or the original Globus guarantee contains various covenants requiring the vessels owning companies and/or Globus to, amongst others things, ensure that:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font:7pt 'Times New Roman'">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0; </font><font style="font-family:'Times New Roman'">The aggregate fair market value of the m/v Sun Globe and the m/v Moon Globe must equal or exceed 160% of the outstanding balance under the loan. </font></li><li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font:7pt 'Times New Roman'">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0; </font><font style="font-family:'Times New Roman'">The vessel owning subsidiaries must each maintain a minimum liquidity of $375 in an account pledged to the bank per vessel owned by the Company.</font></li><li style="margin-left:56.7pt; text-indent:-21.25pt; text-align:justify; line-height:12pt; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font:7pt 'Times New Roman'">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0; </font><font style="font-family:'Times New Roman'">Each Borrower shall ensure that it has a Dry Dock Reserve Account which is credited with sufficient funding to cover the forecast dry-docking, special survey and ballast water compliance expenses for each Ship at least three months prior to the date such expenses are to be incurred such forecasted expenses.</font></li></ul><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; color:#0000ff">&#xa0;</font></h1><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company was in compliance with the covenants of Macquarie Loan Agreement.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">As the Company has breached the covenants contained in the Hamburg Commercial Bank AG loan agreement referred to above which constitutes an event of default. Due to the cross-default provisions included in Macquarie Loan Agreement, the Company&#8217;s lender can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt. Until the date of issuance of these consolidated financial statements no such action had been taken by the lender against the Company.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Book Antiqua'; font-weight:bold">(e)</font><font style="font-family:'Book Antiqua'">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">In January 2016, Globus Maritime Limited entered into a credit facility for up to $3,000 with Silaner Investments Limited, an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (Note 4). The Silaner Credit Facility was unsecured and remained available until its final maturity date on January 12, 2018. The Company had the right to drawdown any amount up to $3,000 or prepay any amount in multiples of $100. Any prepaid amount could have been re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts was charged at 5% per annum and no commitment fee was charged on the amounts remaining available and undrawn.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In connection with the February 2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company with Silaner Investments Limited, the lender of the Silaner Credit Facility. Silaner Investments Limited released an amount equal to the outstanding principal of $3,115 (but left an amount equal to $74 outstanding, which continued to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner Investments Limited, 311,500 common shares and a warrant to purchase 114,944 common shares at a price of $16 per share. During 2017, the Company drew down $ 280 under this facility and, before the end of the year, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety. As of December 31, 2017, no amount was drawn and outstanding with respect to the facility. The Silaner Credit Facility terminated at January 12, 2018. </font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(f)&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">In December 2013, Globus entered into a credit facility for up to $4,000 with Firment Trading Limited, an affiliate of the Company&#8217;s chairman, for the purpose of financing its general working capital needs (&#8220;Firment Credit Facility&#8221;). Effective from December 2014, through a supplemental agreement in April 2015, the credit limit of the facility increased from $4,000 to $8,000 and in December 2015, through a second supplemental agreement, the credit limit of the facility increased from $8,000 to $20,000. In December 2015, through a third supplemental agreement, the Firment Credit Facility was assigned from Firment Trading Limited, a Cypriot company, to Firment Trading Limited, a Marshall Islands corporation, each of which is an affiliate of the Company&#8217;s chairman. The Company had the right to drawdown any amount up to $20,000 or prepay any amount, during the availability period, in multiples of $100. </font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In connection with the February 2017 private placement, as further discussed in note 4, a loan amendment agreement was entered into by the Company with Firment Trading Limited, the lender of the Firment Credit Facility, which then had an outstanding principal amount of $18,524. Firment Trading Limited released an amount equal to $16,885 (but left an amount equal to $1,639 outstanding, which continued to accrue under the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Firment Trading Limited, 1,688,500 common shares and a warrant to purchase 623,058 common shares at a price of $16 per share. Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in its entirety. The Firment Credit Facility was terminated on April 12, 2017.</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><a name="DM_MAP_23e57db8376240e8a1e1d45bab2f116b"><font style="font-family:'Times New Roman'">The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2018, assuming that the banks will not demand the repayment of the loans before their maturity, were as follows:</font></a></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:404.3pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(c)</font></p></td><td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(d)</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:24pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Hamburg Commercial Bank AG</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Firment Shipping Inc. </font></p></td><td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Macquarie Bank International Limited</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31</font></p></td><td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Advance (A)</font></p></td><td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Advance (B)</font></p></td><td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">23.934</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,200</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3.971</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1.771</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1.771</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2023 and thereafter&#160; </font></p></td><td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,444</font></p></td><td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3.972</font></p></td><td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6.416</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:35.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">22,163</font></p></td><td style="width:63.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:56.7pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,000</font></p></td><td style="width:51pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">7,500</font></p></td><td style="width:45.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37.863</font></p></td></tr></table></div><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2017, assuming that the banks would not demand the repayment of the loans before their maturity, were as follows:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:336.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(b)</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:24pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Hamburg Commercial Bank AG </font></p></td><td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">DVB Bank</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:13.5pt"><td style="width:103.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31</font></p></td><td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Tranche (A)</font></p></td><td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Tranche (B)</font></p></td><td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2018</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,774</font></p></td><td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,380</font></p></td><td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,249</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12,403</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">7,094</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29,257</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2020 and thereafter&#160; </font></p></td><td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:49.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">24,937</font></p></td><td style="width:45.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,380</font></p></td><td style="width:42.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,343</font></p></td><td style="width:42.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,660</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The weighted average interest rate for the years ended December 31, 2018 and 2017, was 4.97% and 3.8%, respectively. </font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6628827632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">Share Based Payment</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">13&#160;&#160;&#160;&#160; Share Based Payment&#160;&#160;&#160; </font></h1><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;</font><font style="font-family:'Times New Roman'">Share-based payments are quarterly restrictive share issuance to our Non-executive directors as instructed by their appointment letters.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share based payment comprise the following:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:442.7pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:24.05pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_27d1c83a5ddb43acac86524859e9cef8"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2018</font></a></p></td><td style="width:65.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:70.7pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:45.25pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:40.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:11.4pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font><font style="font-family:'Times New Roman'; font-weight:bold">(1)</font></p></td><td style="width:65.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,797</font></p></td><td style="width:70.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:45.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">50</font></p></td><td style="width:40.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.7pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2018</font></p></td><td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,797</font></p></td><td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50</font></p></td><td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:427.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:21.85pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2017</font></p></td><td style="width:63.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:68pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:43.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:38.45pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font><font style="font-family:'Times New Roman'; font-weight:bold">(1)</font><font style="font-family:'Times New Roman'"> </font></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,094</font></p></td><td style="width:68pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:43.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">30</font></p></td><td style="width:38.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2017</font></p></td><td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,094</font></p></td><td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">30</font></p></td><td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(1) These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:434.05pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:27.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2016</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:69.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:44.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:39.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:13.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:13.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font></p></td><td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,790</font></p></td><td style="width:69.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:44.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">50</font></p></td><td style="width:39.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:14.8pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2016</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,790</font></p></td><td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50</font></p></td><td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Non-executive director&#8217;s payments:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Refers to the common shares issued or accrued during the year to the Company&#8217;s non-executive directors pursuant to their letters of appointment. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2017:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Non-executive director&#8217;s payments:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Refers to the common shares issued or accrued during the year to the Company&#8217;s non-executive directors pursuant to their letters of appointment. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2016:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Non-executive director&#8217;s payments:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Refers to the common shares issued or accrued during the year to the Company&#8217;s non-executive directors pursuant to their letters of appointment. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Series A Preferred shares:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Upon the former Chief Executive Officer&#8217;s resignation in July 2016, the 2,567 series A preferred shares, granted to him on April 20, 2012, were redeemed (Note 10). As of December 31, 2018, 2017 and 2016, there were no series A preferred shares outstanding.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 44<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6628786720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage Expenses And Vessel Operating Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>Voyage Expenses and Vessel Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory', window );">Voyage Expenses and Vessel Operating Expenses</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">14&#160;&#160;&#160;&#160;&#160;&#160; Voyage Expenses and Vessel Operating Expenses</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Voyage expenses and vessel operating expenses in the consolidated statements of comprehensive loss consisted of the following:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Voyage expenses consisted of:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:195.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:53.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:59.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Commissions </font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">281</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">241</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">151</font></p></td></tr><tr style="height:20.4pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers expenses</font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">716</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">968</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">593</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other voyage expenses</font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">191</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">143</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">210</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:53.7pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,188</font></p></td><td style="width:60.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,352</font></p></td><td style="width:59.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">954</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In respect of the election to apply IFRS 15 fully retrospectively, for the year ended December 31, 2018, 2017 and 2016, Voyage expenses decreased by $668, $540 and $317, respectively (Note 2.2).</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel operating expenses consisted of:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:441.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13pt"><td colspan="2" style="width:228.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:191.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:57.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:58.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:54.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Crew wages and related costs</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,766</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,645</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,829</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Insurance </font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">607</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">742</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">798</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Spares, repairs and maintenance</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,721</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,222</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,699</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Lubricants</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">501</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">496</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">462</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Stores</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,000</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">783</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">633</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">330</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">247</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">267</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td colspan="2" style="width:57.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,925</font></p></td><td style="width:58.05pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,135</font></p></td><td style="width:54.4pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,688</font></p></td></tr><tr style="height:0pt"><td style="width:239.05pt"></td><td style="width:0.3pt"></td><td style="width:68.4pt"></td><td style="width:68.85pt"></td><td style="width:65.2pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other operating expense. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739091536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Administrative Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract', window );"><strong>Administrative Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory', window );">Administrative Expenses</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">15&#160;&#160;&#160;&#160;&#160;&#160; Administrative Expenses</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The amount shown in the consolidated statements of comprehensive loss is analysed as follows:</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:446.75pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_2a416e17fd38473b92500114c5ed1857"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="4" style="width:207.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Personnel expenses</font></p></td><td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">778</font></p></td><td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">628</font></p></td><td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,040</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Audit fees</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">103</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">101</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">111</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Travelling expenses</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">5</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Consulting fees</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">76</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">54</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">28</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Communication</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">9</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">19</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Stationery</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Greek authorities tax (note 20) </font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">118</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">116</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">264</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Other </font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">265</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">309</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">626</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,356</font></p></td><td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,224</font></p></td><td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,094</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:0pt"><td style="width:228.85pt"></td><td style="width:72.95pt"></td><td style="width:72.6pt"></td><td style="width:68.3pt"></td><td style="width:4.05pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of general and administrative expenses. [Refer: Administrative expenses]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6628786720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Interest Expense And Finance Costs<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestCostsAbstract', window );"><strong>Interest Expense and Finance Costs [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestExpenseExplanatory', window );">Interest Expense and Finance Costs</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">16&#160;&#160;&#160;&#160;&#160;&#160;&#160; Interest Expense and Finance Costs</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The amounts in the consolidated statements of comprehensive loss are analysed as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:445.65pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_74b6770c940d46b480813061e98e3d62"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td colspan="3" style="width:188.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Interest payable on long-term borrowings</font></p></td><td style="width:48.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2.004</font></p></td><td style="width:60.65pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,778</font></p></td><td style="width:57.2pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,430</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bank charges </font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">34</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">33</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Amortization of debt discount</font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">84</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">128</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other finance expenses</font></p></td><td style="width:48.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:60.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">325</font></p></td><td style="width:57.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">85</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:48.6pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.056</font></p></td><td style="width:60.65pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,221</font></p></td><td style="width:57.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,676</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInterestExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest expense. [Refer: Interest expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInterestExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestCostsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestCostsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739139248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Dividends<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousLiabilitiesAbstract', window );"><strong>Dividends [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDividendsExplanatory', window );">Dividends</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">17&#160;&#160;&#160;&#160;&#160;&#160; Dividends </font></p><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h1><h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:normal">Dividends declared and paid during the years ended December 31, 2018, 2017 and 2016, are as follows:</font></h1><h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:normal">&#xa0;</font></h1><h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:normal">No dividends were declared or paid on common shares during the years ended December 31, 2018 and 2017.</font></h1><h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:normal">&#xa0;</font></h1><h1 style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:normal">No dividends declared on common shares during the year ended December 31, 2016. A final payment of $14 was made in January 2016 relating to dividends declared in 2015. No dividends declared or paid on the Company&#8217;s Series A Preferred shares during the year ended December 31, 2016. In July 2016, the 2,567 Series A Preferred shares were redeemed and, as of December 31, 2016, there were no Series A Preferred shares outstanding.</font></h1><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDividendsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDividendsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739062800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesAbstract', window );"><strong>Disclosure of contingent liabilities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesExplanatory', window );">Contingencies</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">18&#160;&#160;&#160;&#160;&#160;&#160;&#160; Contingencies</font></h1><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business.&#160; 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&#8217;s vessels. Currently, management is not aware of any such claims or contingent liabilities, which are material for disclosure. </font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfContingentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfContingentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfContingentLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2018-01-01<br> -Paragraph 86<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2018-03-01&amp;anchor=para_86&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfContingentLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721956928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract', window );"><strong>Commitments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCommitmentsExplanatory', window );">Commitments</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">19&#160;&#160;&#160;&#160;&#160;&#160;&#160; Commitments</font></h1><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company enters into time charter and bareboat charter arrangements on its vessels. These non-cancellable arrangements had remaining terms between five days to seven months as of December 31, 2018 and between six days to two months as of December 31, 2017, assuming redelivery at the earliest possible date. Future net minimum lease revenues receivable under non-cancellable operating leases as of December 31, 2018 and 2017, were as follows (vessel off-hires and dry-docking days that could occur but are not currently known are not taken into consideration andearly delivery of the vessels by the charterers is not accounted for):</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:425.25pt; margin-left:28.35pt; border-collapse:collapse; text-align:left"><tr style="height:16.4pt"><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_0e87e9d35464472abb1c564496ee63d7"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:74.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Within one year</font></p></td><td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,991</font></p></td><td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,548</font></p></td></tr><tr><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,991</font></p></td><td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,548</font></p></td></tr></table><h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h1><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">At December 31, 2018 and 2017, the Company was a party to an operating lease agreement as lessee (note 4). The operating lease relates to the office premises at a monthly rate of Euro 10,360 (absolute amount) and for a lease period ending January 2, 2025. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The future minimum lease payments under this agreement as of December 31, 2018 and 2017, assuming a Euro: US dollar exchange rate for 2018 1:1.14 and for 2017: 1:1.20, were as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:387.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_1e4f2514de284a9093c8beb2ca9f362a"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:62.75pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:69.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:1.2pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Within one year</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">142</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">149</font></p></td></tr><tr style="height:12.75pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">After one year but not more than five years</font><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">567</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">596</font></p></td></tr><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">More than five years</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">142</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">299</font></p></td></tr><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:62.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">851</font></p></td><td style="width:69.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,044</font></p></td></tr></table></div><h1 style="margin-top:0pt; margin-bottom:0pt; text-indent:9pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></h1><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Total rent expense under operating leases for the years ended December 31, 2018, 2017 and 2016, amounted to $147, $140 and $138 respectively.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCommitmentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCommitmentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6621733344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Income Tax [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Income Tax</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">20&#160;&#160;&#160;&#160;&#160;&#160;&#160; Income Tax</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160; Under the laws of the countries of the vessel owning companies&#8217; incorporation and / or vessels&#8217; registration, vessel owning companies are not subject to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in vessel operating expenses in the accompanying consolidated statements of loss.</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Greek Authorities Tax</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In January 2013, the tax Law 4110/2013 amended the long-standing 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 shipowning company and of all its shareholders up to the ultimate beneficial owners. Any tax payable to the state of the flag of each vessel as a result of its registration with a foreign flag registry (including the Marshall Islands) is subtracted from the amount of tonnage tax due to the Greek tax authorities. As of December 31, 2018, 2017 and 2016, the tax expense under the law amounted to $118, $116 and $264, respectively and is included in administrative expenses in the consolidated statements of comprehensive loss.&#160;&#160; </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">U.S. Federal Income Tax</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">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 earn United States (&#8220;U.S&#8221;) source shipping income for U.S. federal income tax purposes.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">Globus believes that to the best of its knowledge, under &#167; 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, are currently exempt from U.S. federal income tax.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">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.&#160; The discussion and its conclusion are based upon existing U.S. federal income tax law, including the Internal Revenue Code (the &#8220;Code&#8221;) and final U.S. Treasury Regulations (the &#8220;Regs&#8221;) as currently in effect, all of which are subject to change, possibly with retroactive effect.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Application of &#167; 883 of the Code for the year ended December 31, 2018</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">In general, under &#167; 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 (&#8220;gross transportation income&#8221;). Absent &#167; 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.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">Shipping income attributable to transportation exclusively between non-U.S. ports is generally not subject to any U.S. Federal income tax. &#8220;Shipping income&#8221; generally means income that is derived from:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">(a) the use of vessels;</font></p><p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">(b) the hiring or leasing of vessels for use on a time, operating or bareboat charter basis;</font></p><p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">(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</font></p><p style="margin-top:0pt; margin-left:72pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">(d) the performance of services directly related to those uses.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">The Regs provide that a foreign corporation will qualify for the benefits of </font><a name="_Hlk4142017"><font style="font-family:'Times New Roman'">&#167;</font></a><font style="font-family:'Times New Roman'"> 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.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Qualified Shareholder Test</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">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&apos;s taxable year by one or more qualified shareholders will meet the qualified shareholder test.&#160; 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.&#160; 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.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Publicly Traded Test</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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 &#8220;primarily and regularly traded&#8221; on an established securities market either in the United States or in a foreign country that grants an equivalent exemption. Among others, &#167; 883 provides, in relevant part, that the shares of a non-United States corporation will be considered to be &#8220;primarily traded&#8221; 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. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Notwithstanding the foregoing, &#167; 883 provides, in relevant part, that a class of shares will not be considered to be &#8220;regularly traded&#8221; 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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In the event that the 5 Percent Override Rule is triggered, &#167; 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 &#167; 883 to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the Company&#8217;s common shares for more than half the number of days during the taxable year.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; widows:0; orphans:0; font-size:9pt"><font style="font-family:'Times New Roman'">For the year ended December 31, 2018, Globus and its wholly owned subsidiaries deriving income from the operation of international ships are organized in foreign countries that grant equivalent exemptions to corporations organized in the U.S. Globus has more than 50% of the value of its common stock for at least half of the number days of their taxable year indirectly owned in the form of registered shares by one individual residing in a qualified foreign country.&#160; Accordingly, all of Globus&#8217; and its ship-owning or operating subsidiaries that rely on &#167; 883 for exempting U.S. source income from the international operation of ships should not be subject to U.S. federal income tax for the year ended December 31, 2018. Globus anticipates it and its relevant subsidiaries income will continue to be exempt in the future from U.S. federal income tax. However, in the future, Globus or its subsidiaries may not continue to satisfy certain criteria in the U.S. tax laws and as such, may become subject to the U.S. federal income tax on future U.S. source shipping income.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6592000192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Risk Management Objectives And Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial risk management objectives and policies [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory', window );">Financial risk management objectives and policies</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:9pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">21&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial risk management objectives and policies</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:9pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:9pt"><font style="font-family:'Times New Roman'; font-size:9pt">The Company&#8217;s financial liabilities are bank loans, trade and other payables and the financial derivative instrument. The main purpose of these financial liabilities is to assist in the financing of Company&#8217;s operations and the acquisition of vessels. The Company has various financial assets such as trade accounts receivable and cash and short-term deposits, which arise directly from its operations. The main risks arising from the Company&#8217;s financial instruments are cash flow interest rate risk, credit risk, liquidity risk and foreign currency risk.&#160;&#160;&#160; </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Interest rate risk</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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&#8217;s exposure to the risk of changes in market interest rates relates primarily to the Company&#8217;s long-term debt obligations with floating interest rates. As of December 31, 2017, no borrowings were at a fixed rate of interest and as of December 31, 2018, 6% of the Company&#8217;s bank borrowings were at a fixed rate of interest.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Interest rate risk table</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The following table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of the Company&#8217;s loss. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:460.7pt; margin-left:35.45pt; border-collapse:collapse; text-align:left"><tr style="height:23pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><a name="DM_MAP_d17aee57727f466d9f78f48fdb0d8882"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Increase/(Decrease) in basis points</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-right:1.6pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect on loss</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">$ Libor</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(60)</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-20</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">80</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">$ Libor</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(69)</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-20</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">86</font></p></td></tr></table><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-25.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Foreign currency risk</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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&#8217;s loss due to changes in the fair value of monetary assets and liabilities. The Company&#8217;s exposure to foreign currency changes for all other currencies as of December 31, 2018 and 2017, was not material.</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:460.25pt; margin-left:36pt; border-collapse:collapse; text-align:left"><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><a name="DM_MAP_621cec3e123244ce996907934f54ece9"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Change in rate</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect on loss </font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">+10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(284)</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">284</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">+10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(251)</font></p></td></tr><tr style="height:15.05pt"><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">251</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Credit risk</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company operates only with recognised, creditworthy third parties including major charterers, commodity traders and government owned entities. Receivable balances are monitored on an ongoing basis with the result that the Company&#8217;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&#8217;s exposure to credit risk arises from default of the counter parties, which are recognised financial institutions. The Company performs annual evaluations of the relative credit standing of these counter parties. The exposure of these financial instruments is equal to their carrying amount as indicated in the consolidated statement of financial position. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-0.55pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Concentration of credit risk table:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The following table provides information with respect to charterers who individually, accounted for approximately more than 10% of the Company&#8217;s revenue for the years ended December 31, 2018, 2017 and 2016:</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="width:387.65pt; margin-left:42.05pt; border-collapse:collapse; text-align:left"><tr style="height:25.4pt"><td style="width:62.85pt; border:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><a name="DM_MAP_96716151fa7d4bf0a7846788a267be5a"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></a></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:37.8pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td><td style="width:36.95pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td><td style="width:34.4pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3,679</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">21%</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,404</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">10%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">B</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,873</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">17%</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">890</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">C</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,849</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:21.1pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">D</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,459</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:34.4pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">E</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:36.95pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,013</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other </font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">10,802</font></p></td><td style="width:46.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">62%</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">9,140</font></p></td><td style="width:37.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">66%</font></p></td><td style="width:36.95pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,520</font></p></td><td style="width:34.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">77%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">17,354</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13,852</font></p></td><td style="width:37.8pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td><td style="width:36.95pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,423</font></p></td><td style="width:34.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-7.65pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liquidity risk</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company mitigates liquidity risk by managing cash generated by its operations, applying cash collection targets appropriately. The vessels are normally chartered under time-charter, bareboat and spot agreements where, as per the industry practice, the charterer pays for the transportation service 15 days in advance, supporting the management of cash generation. Vessel acquisitions are carefully controlled, with authorisation limits operating up to board level and cash payback periods applied as part of the investment appraisal process. In this way, the Company maintains a good credit rating to facilitate fund raising. In its funding strategy, the Company&#8217;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.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The table below summarises the maturity profile of the Company&#8217;s financial liabilities at December 31, 2018 and 2017, assuming that the banks will not demand the repayment of the loans before their maturity, based on contractual undiscounted cash flows. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:434.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_0f3e1f02bcd74fa8a808a5a3d34403a6"><font style="font-family:'Times New Roman'; font-weight:bold">Year ended December 31, 2018</font></a></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less than 3 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3 to 12 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1 to 5 years</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">More than 5 years</font></p></td><td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:16.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Long-term debt</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,720</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">24,502</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">16,</font><font style="font-family:'Times New Roman'">465</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">42,</font><font style="font-family:'Times New Roman'">687</font></p></td></tr><tr style="height:16.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued liabilities and other payables</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,319</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,319</font></p></td></tr><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Trade payables</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,433</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,433</font></p></td></tr><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,472</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">24,502</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">16,46</font><font style="font-family:'Times New Roman'; font-weight:bold">5</font></p></td><td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:33.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,43</font><font style="font-family:'Times New Roman'; font-weight:bold">9</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; * This table includes both </font><font style="font-family:'Times New Roman'">the derivative component and the non-derivative host.</font><font style="font-family:'Times New Roman'">of the hybrid agreement with Firment Shipping Credit Facility (see Note 12)</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:436pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year ended December 31, 2017</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less than 3 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3 to 12 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1 to 5 years</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">More than 5 years</font></p></td><td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:16.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Long-term debt</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,145</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12,989</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">30,285</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">44,419</font></p></td></tr><tr style="height:16.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued liabilities and other payables</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,455</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,455</font></p></td></tr><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Trade payables</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,258</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,258</font></p></td></tr><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,858</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">12,989</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">30,285</font></p></td><td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:30.25pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,132</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-68.05pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-68.05pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Capital management</font></p><p style="margin-top:0pt; margin-left:96.4pt; margin-bottom:0pt; text-indent:-60.4pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The primary objective of the Company&#8217;s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares as well as managing the outstanding level of debt. Lenders may impose capital structure or solvency ratios (refer to note 12). No changes were made in the objectives, policies or processes during the years ended December 31, 2018 and 2017. The Company monitors capital using the ratio of net debt to book capitalisation adjusted for the market value of the Company&#8217;s vessels plus net debt. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company includes within net debt, interest bearing loans gross of unamortized debt discount, less cash. </font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_0e922397d6e2400191d802aba0e97d3a"><font style="font-family:'Times New Roman'">Adjusted book capitalization refers to total equity adjusted for the market value of the Company&#8217;s vessels. The Company&#8217;s policy is to keep the ratio described above between a range of 60% - 80%.</font></a></p><table cellspacing="0" cellpadding="0" style="width:459.45pt; margin-left:7.1pt; border-collapse:collapse; text-align:left"><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:136.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160; December 31,</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Interest bearing loans</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,863</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,660</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Cash (including restricted cash)</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,396)</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(2,966)</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net debt</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">36,467</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">38,694</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Equity</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,050</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">43,968</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Adjustment for the market value of vessels (charter-free)</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(27,500)</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(31,970)</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Adjusted book capitalization</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,550</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11,998</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Adjusted book capitalization plus net debt</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,017</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,692</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Ratio</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">73%</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">76%</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated above is not consistent with the International Financial Reporting Standards (&#8220;IFRS&#8221;) definition of debt. The following reconciliation is provided:</font></p><table cellspacing="0" cellpadding="0" style="width:439.45pt; margin-left:28.35pt; border-collapse:collapse; text-align:left"><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160; December 31,</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Debt in accordance with IFRS (long and short-term borrowings)</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">36,868</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,538</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Add: Unamortized debt discount</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">295</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">122</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,163</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,660</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Less: Cash and bank balances and bank deposits (including restricted cash)</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,396</font></p></td><td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,966</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Net debt</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">35,767</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">38,694</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the entity's financial risk management practices and policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialRiskManagementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739091536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract', window );"><strong>Disclosure of fair value measurement of assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementExplanatory', window );">Fair values</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">22&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair values</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; line-height:13pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">Carrying amounts and fair values</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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 2.28). 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.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="DM_MAP_5e5ab03a8ee44085a350ddb8fe280ac0"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:482.95pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:160.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Fair value</font></p></td></tr><tr style="height:27.7pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">(in thousands of USD)</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Other financial liabilities</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 1</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 2</font></p></td><td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 3</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Derivative financial instruments</font></p></td><td style="width:79.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">831</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">831</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">831</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">831</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities not measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Long</font><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">term borrowings</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,163</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3</font><font style="font-family:'Times New Roman'">7</font><font style="font-family:'Times New Roman'">,</font><font style="font-family:'Times New Roman'">030</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3</font><font style="font-family:'Times New Roman'; font-weight:bold">7</font><font style="font-family:'Times New Roman'; font-weight:bold">,</font><font style="font-family:'Times New Roman'; font-weight:bold">030</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37,163</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:475.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Fair value</font></p></td></tr><tr style="height:27.7pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">(in thousands of USD)</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Other financial liabilities</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 1</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 2</font></p></td><td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 3</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities not measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Long</font><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">term borrowings</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,538</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,219</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,219</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,538</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; line-height:13pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">Measurement of fair values</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; line-height:13pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">Valuation techniques and significant unobservable inputs</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font><a name="FIS_UNIDENTIFIED_TABLE_33"></a><a name="FIS_UNIDENTIFIED_TABLE_34"></a></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:463.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:14.45pt"><td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline">Financial instruments measured at fair value</font></p></td><td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:22.65pt"><td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><a name="RANGE_B372"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Type</font></a></p></td><td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Valuation Techniques</font></p></td><td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Significant unobservable inputs</font></p></td></tr><tr style="height:14.45pt"><td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:55pt"><td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Derivative financial instruments</font></p></td><td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Black-Scholes model</font></p></td><td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Refer to </font><font style="font-family:'Times New Roman'">Not</font><font style="font-family:'Times New Roman'">e 2.30</font></p></td></tr><tr style="height:11.65pt"><td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:11.65pt"><td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline">Financial instruments not measured at fair value</font></p></td><td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:22.65pt"><td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><a name="RANGE_B379"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Type</font></a></p></td><td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Valuation Techniques</font></p></td><td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Significant unobservable inputs</font></p></td></tr><tr style="height:11.65pt"><td style="width:174.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:24.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:37.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:26.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:3.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.35pt"><td style="width:174.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Long</font><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">term borrowings</font></p></td><td style="width:8.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Discounted cash flow</font></p></td><td style="width:3.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:68.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Discount rate</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Transfers between Level 1, 2 and 3</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">There were no transfers between these levels in 2017 and 2018.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for fair value measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721873936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Events After The Reporting Period<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract', window );"><strong>Disclosure of non-adjusting events after reporting period [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">Events after the reporting date</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">23&#160;&#160;&#160;&#160;&#160;&#160;&#160; Events after the reporting date</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Book Antiqua'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">On March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued,&#160; for gross proceeds of $5 million, a senior convertible note (the &#8220;Convertible Note&#8221;) that is convertible into shares of the Company&#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Convertible Note was issued in a transaction exempt from registration under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). As of the date hereof, no conversion of the Convertible Note has occurred.</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Convertible Note provides for interest to accrue at 10% annually, which interest shall be paid on the first anniversary of the Convertible Note&#8217;s issuance unless the Convertible Note is converted or redeemed pursuant to its terms beforehand. The interest may be paid in common shares of the Company, if certain conditions described within the Convertible Note are met. With respect to the Convertible Note, the Company also signed a registration rights agreement with the private investor pursuant to which it agreed to register for resale the shares that could be issued pursuant to the Convertible Note.&#160; The registration rights agreement contains liquidated damages if the Company is unable to register for resale the shares into which the Convertible Note may be converted, and maintain such registration.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=10&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743393440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis Of Preparation And Significant Accounting Policies (Policy)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract', window );"><strong>Basis of Preparation and Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGoingConcernExplanatory', window );">Going concern basis of accounting:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Basis of Preparation: </font><a name="_Hlk4596091"><font style="font-family:'Times New Roman'">The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated.</font></a></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Going concern basis of accounting: </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><a name="_Hlk4596134"><font style="font-family:'Times New Roman'">As of December 31, 2018, the Company was not in compliance with the loan covenants of the agreement with Hamburg Commercial Bank AG (previously known as HSH Nordbank AG) which loan balance of $22.2 million matures through December 2019. The Company did not obtain waivers and the breached covenants contained in this loan agreement constitute an event of default. In the event of default under the Hamburg Commercial Bank AG loan agreement and, due to the cross-default provisions included in the agreement with Macquarie Bank International Limited, the Company&#8217;s lenders, Hamburg Commercial Bank AG and Macquarie Bank International Limited, can elect to declare the outstanding debt, together with accrued interest and other fees, to be immediately due and payable and proceed against the collateral securing that debt, which can constitute all or substantially all of the Company&#8217;s assets. Until the date of issuance of these consolidated financial statements no such action has been taken by the lenders against the Company. </font></a></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accordingly, as the Company did not have an unconditional right to defer settlement of the outstanding loan with Macquarie Bank International Limited&#160; for at least twelve months after the date of these consolidated financial statements and, as it has not refinanced the outstanding loan with Hamburg Commercial Bank AG, the total balance of the loans outstanding to Macquarie Bank International Limited and to Hamburg Commercial Bank AG aggregating to $35,368 at December 31, 2018, have been classified as current. As a result, as of December 31, 2018, the Company reported a working capital deficit of $40,412.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The above conditions raise substantial doubt about the entity&apos;s ability to continue as a going concern. The Company is exploring several alternatives aiming to manage its working capital requirements and other commitments, including drawdown of additional funds available of $12,800 under the facility with Firment Shipping Inc, if needed raising of additional debt and discussions with other financial institutions and private funds to provide the Company with refinancing of the existing loans. In this respect, on March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $5 million, a senior convertible note (the &#8220;Convertible Note&#8221;) that is convertible into shares of the Company&#8217;s common stock, par value $0.004 per share. If not converted or redeemed beforehand pursuant to the terms of the Convertible Note, the Convertible Note matures upon the anniversary of its issue. The Company will use part of the proceeds from the Convertible Note for general corporate purposes and working capital including repayment of debt.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Management expects that the lenders will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan instalments and accumulated interest as they fall due under the existing loan agreements. Management plans to settle loan interest and scheduled loan repayments with cash at hand and cash expected to be generated from the operations and from financing activities.&#160; If for any reason the Company is unable to continue as a going concern, this could have an impact on the Company&#8217;s ability to realize assets at their recognized values and to extinguish liabilities in the normal course of business at the amounts stated in these consolidated financial statements.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Statement of Compliance: </font><font style="font-family:'Times New Roman'">These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Basis of Consolidation:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations', window );">Standards amendments and interpretations:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Standards amendments and interpretations:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160; </font></p><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2018.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 9 Financial Instruments: Classification and Measurement</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">In July 2014, the IASB issued the complete version of IFRS</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">9 Financial Instruments. IFRS</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">9 Financial Instruments specifies how an entity should classify and measure financial assets and financial liabilities. The new standard requires all financial assets to be subsequently measured at amortized cost or fair value depending on the business model of the legal entity in relation to the management of the financial assets and the contractual cash flows of the financial assets. The standard also requires a financial liability to be classified as either at fair value through profit or loss or at amortized cost. In addition, a new hedge accounting model was introduced, that is designed to be more closely aligned with how entities undertake risk management activities when hedging financial and non-financial risk exposures. The Company has elected to take the transition relief and not to restate prior periods with respect to classification and measurement (including impairment). Accordingly, the information presented for 2017 has not been restated.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company had no impact of transition to IFRS 9 on the opening balance of accumulated deficit.</font><a name="FIS_UNIDENTIFIED_TABLE_9"></a></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 15 Revenue from Contracts with Customers </font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 15 establishes a five-step model that will apply to revenue earned from a contract with a customer (with limited exceptions), regardless of the type of revenue transaction or the industry. The standard&#8217;s requirements will also apply to the recognition and measurement of gains and losses on the sale of some non-financial assets that are not an output of the entity&#8217;s ordinary activities (e.g., sales of property, plant and equipment or intangibles). Extensive disclosures will be required, including disaggregation of total revenue; information about performance obligations; changes in contract asset and liability account balances between periods and key judgments and estimates. The Company elected to apply IFRS 15 fully retrospectively. The Company has assessed that this standard does not have a material effect on its consolidated financial statements. In addition, pursuant to this standard, as of January 1, 2018, the Company elected to present Voyage revenues net of address commissions. Address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for this consideration provided to the charterer. These commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2018, 2017 and 2016, Voyage revenues and Voyage expenses each decreased by $668, $540 and $317, respectively.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 15: Revenue from Contracts with Customers (Clarifications)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The objective of the Clarifications is to clarify the IASB&#8217;s intentions when developing the requirements in IFRS 15 Revenue from Contracts with Customers, particularly the accounting of identifying performance obligations amending the wording of the &#8220;separately identifiable&#8221; principle, of principal versus agent considerations including the assessment of whether an entity is a principal or an agent as well as applications of control principle and of licensing providing additional guidance for accounting of intellectual property and royalties. The Clarifications also provide additional practical expedients for entities that either apply IFRS 15 fully retrospectively or that elect to apply the modified retrospective approach. The Company has assessed that the adoption did not have a material effect on its consolidated financial statements, other than additional disclosure requirements in the notes to the consolidated financial statements, since the Company has chartered its vessels under time charter agreements, and in this respect revenue is accounted under the leases standard.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 2: Classification and Measurement of Share based Payment Transactions (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments provide requirements on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, for share-based payment transactions with a net settlement feature for withholding tax obligations and for modifications to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled. The Company has assessed that these amendments have no impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRIC INTERPETATION 22: Foreign Currency Transactions and Advance Consideration</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Interpretation clarifies the accounting for transactions that include the receipt or payment of advance consideration in a foreign currency. The Interpretation covers foreign currency transactions when an entity recognizes a non-monetary asset or a non-monetary liability arising from the payment or receipt of advance consideration before the entity recognizes the related asset, expense or income. The Interpretation states that the date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, then the entity must determine a date of the transactions for each payment or receipt of advance consideration. The Company has assessed that this interpretation has no impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Standards issued but not yet effective and not early adopted:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">The standards and interpretations issued, but not yet effective, up to the date of issuance of the Company&#8217;s consolidated financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective.</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 16: Leases</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (&#8216;lessee&#8217;) and the supplier (&#8216;lessor&#8217;). The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The standard is effective for annual periods beginning on or after January 1, 2019. Early adoption is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16. The Company will adopt IFRS 16 as of January 1, 2019.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company expects that the most significant impact will be that the Company will recognize new assets and liabilities for its operating leases as lessee (for office rental).</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company identified the rental agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674 as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental cost of borrowing In addition, the nature and recognition of expenses related to those leases will change as IFRS 16 replaces the straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For time charters that qualify as leases, the Company will be 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. In order to prepare the future required disclosure, the residual allocation method will be used. The Company will estimate the non-lease component as the cost of operating the vessels by its technical department. The lease component to be disclosed then will be calculated as the difference between total revenue and the non-lease component revenue. </font><font style="font-family:'Times New Roman'">The Company does not expect the adoption of IFRS 16 to impact its ability to comply with the loan covenants described in Note 12</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">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</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture.&#160; The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 9 Amendment: Prepayment features with negative compensation</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendment is effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendment allows financial assets with prepayment features that permit or require a party to a contract either to pay or receive reasonable compensation for the early termination of the contract (so that, from the perspective of the holder of the asset there may be &#8216;negative compensation&#8217;), to be measured at amortized cost or at fair value through other comprehensive income. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 28 Amendments: Long-term Interests in Associates and Joint Ventures</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted. The Amendments relate to whether the measurement, in particular impairment requirements, of long term interests in associates and joint ventures that, in substance, form part of the &#8216;net investment&#8217; in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination of both. The Amendments clarify that an entity applies IFRS 9 Financial Instruments, before it applies IAS 28, to such long-term interests for which the equity method is not applied. In applying IFRS 9, the entity does not take account of any adjustments to the carrying amount of long- term interests that arise from applying IAS 28. Management does not expect that these amendments will have an impact on its financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRIC INTERPETATION 23: Uncertainty over Income Tax Treatments </font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Interpretation is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation provides guidance on considering uncertain tax treatments separately or together, examination by tax authorities, the appropriate method to reflect uncertainty and accounting for changes in facts and circumstances. The Company does not expect that this interpretation will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 19: Plan Amendment, Curtailment or Settlement (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. The amendments require entities to use updated actuarial assumptions to determine current service cost and net interest for the remainder of the annual reporting period after a plan amendment, curtailment or settlement has occurred. The amendments also clarify how the accounting for a plan amendment, curtailment or settlement affects applying the asset ceiling requirements. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 3: Business Combinations (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after 1 January 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of &#8216;material&#8217; (Amendments)</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Amendments are effective for annual periods beginning on or after January 1, 2020, with earlier application permitted. The Amendments clarify the definition of material and how it should be applied. The new definition states that, &#8217;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&#8217;. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management does not expect that these amendments will have an impact on the Company&#8217;s financial position or performance.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:27.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">The IASB has issued the Annual Improvements to IFRSs 2015 &#8211; 2017 Cycle</font><font style="font-family:'Times New Roman'">, which is a collection of amendments to IFRSs. The amendments are effective for annual periods beginning on or after January 1, 2019, with earlier application permitted. Management is in the process of assessing the impact of these Amendments on the Company&#8217;s financial position or performance.</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IFRS 3 Business Combinations and IFRS 11 Joint Arrangements</font><font style="font-family:'Times New Roman'">: The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.</font></li></ul><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 12 Income Taxes</font><font style="font-family:'Times New Roman'">: The amendments clarify that the income tax consequences of payments on financial instruments classified as equity should be recognized according to where the past transactions or events that generated distributable profits has been recognized.</font></li></ul><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:65.6pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">IAS 23 Borrowing Costs</font><font style="font-family:'Times New Roman'">: The amendments clarify paragraph 14 of the standard that, when a qualifying asset is ready for its intended use or sale, and some of the specific borrowing related to that qualifying asset remains outstanding at that point, that borrowing is to be included in the funds that an entity borrows generally.</font></li></ul></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory', window );">Significant accounting policies, judgments, estimates and assumptions:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.3&#160;&#160;&#160;&#160;&#160; Significant accounting policies, judgments, estimates and assumptions:</font><font style="font-family:'Times New Roman'; font-style:italic"> </font><font style="font-family:'Times New Roman'">The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period.&#160; 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. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Judgments: </font><font style="font-family:'Times New Roman'">In the process of applying the Company&#8217;s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:22.5pt; text-align:justify; padding-left:5.85pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Allowance for doubtful trade accounts receivable:&#160; </font><font style="font-family:'Times New Roman'">Following adoption of IFRS 9 as of January 1, 2018, the Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (&#8220;ECL&#8221;) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.</font><font style="font-size:10pt"> </font><font style="font-family:'Times New Roman'">The application of the ECL requirements under IFRS 9 did not result in the recognition of an impairment charge under the new impairment model.</font><font style="font-size:10pt"> </font><font style="font-family:'Times New Roman'">Provisions for doubtful trade accounts receivable as of December 31, 2018 and 2017 were $68 and $138, respectively. No extra allowance for impairment over these receivables was recognized in opening accumulated deficit at January 1, 2018, on transition to IFRS 9.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Estimates and assumptions: </font><font style="font-family:'Times New Roman'">The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. </font><font style="font-family:'Times New Roman'">The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Carrying amount of vessels, net</font><font style="font-family:'Times New Roman'">: Vessels are stated at cost, less accumulated depreciation </font><font style="font-family:'Times New Roman'">(including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms)</font><font style="font-family:'Times New Roman'"> and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. </font></li></ul><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-14.15pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Impairment of Non-Financial Assets</font><font style="font-family:'Times New Roman'">: The Company&#8217;s impairment test for non-financial assets is based on the assets&#8217; recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2018. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows and the growth rate used for extrapolation. </font><font style="font-family:'Times New Roman'">See notes 2.13 and 5</font><font style="font-family:'Times New Roman'">.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:26.35pt; text-align:justify; padding-left:2pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">Share based payments</font><font style="font-family:'Times New Roman'; font-weight:bold">: </font><font style="font-family:'Times New Roman'">The</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 13.</font></li></ul></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Accounting for revenue and related expenses:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounting for revenue and related expenses:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IAS 17 as lease income as explained in note 2.23 below. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Interest income</font><font style="font-family:'Times New Roman'">: interest income is recognised as interest on an accrual basis.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:27pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Voyage expenses</font><font style="font-family:'Times New Roman'">: Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel operating expenses</font><font style="font-family:'Times New Roman'">:&#160; Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under time charter arrangements, these expenses are paid by the charterer and by the Company under voyage charter arrangements. Vessel operating expenses are accounted for on an accruals basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Foreign currency translation:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.5&#160;&#160;&#160;&#160; Foreign currency translation:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'">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&#8217;s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory', window );">Cash and cash equivalents:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.6&#160;&#160;&#160;&#160;&#160; Cash and cash equivalents:</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160; </font><font style="font-family:'Times New Roman'">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.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory', window );">Trade receivables, net:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold">2.7&#160;&#160;&#160;&#160; Trade accounts receivable, net</font><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold; font-style:italic">: </font><font style="font-family:'Times New Roman'; font-size:9pt">The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, freight and demurrage billings, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently</font><font> </font><font style="font-family:'Times New Roman'; font-size:9pt">measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2018 was $68 (2017: $138).</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories', window );">Inventories:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.8&#160;&#160;&#160;&#160;&#160;&#160; Inventories:</font><font style="font-family:'Times New Roman'"> Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Vessels, net:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.9&#160;&#160;&#160; Vessels, net:</font><font style="font-family:'Times New Roman'"> Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses.&#160; 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). Any seller&#8217;s credit, i.e., amounts received from the seller of the vessels until date of delivery is deducted from the cost of the vessel. Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory', window );">Deferred dry-docking costs:</a></td>
<td class="text"><div class="Section1"><h1 style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">2.10&#160;&#160;&#160; Deferred dry-docking costs: </font><font style="font-family:'Times New Roman'; font-weight:normal">Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years.</font><font style="font-family:'Times New Roman'">&#160; </font><font style="font-family:'Times New Roman'; font-weight:normal">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.</font></h1></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory', window );">Depreciation:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30.05pt; margin-bottom:0pt; text-indent:-30.05pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.11</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Depreciation</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> The cost of each of the Company&#8217;s vessels is depreciated on a straight-line basis over each vessel&#8217;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 second quarter of 2016, the Company reduced the scrap rate from $240/ton to $200/ton due to the reduced scrap rates worldwide. This resulted to an additional depreciation expense of $96 included in the consolidated statement of comprehensive loss for 2016. During the third quarter of 2017, the Company adjusted the scrap rate from $200/ton to $250/ton due to the increased scrap rates worldwide. This resulted to a decrease of $86 to the depreciation charge included in the consolidated statement of comprehensive loss for 2017. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Amortization of lease component:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.12&#160;&#160;&#160;&#160; Amortization of lease component:</font><font style="font-family:'Times New Roman'"> When the Company acquires a vessel subject to an operating lease, it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease</font><font style="font-family:'Times New Roman'; background-color:#ffffff">. The amortization is included in the line &#8220;amortization</font><font style="font-family:'Times New Roman'"> of fair value of time charter attached to vessels&#8221; in the income statement component of the consolidated statement of comprehensive loss.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory', window );">Impairment of non-financial assets:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.13&#160;&#160;&#160;&#160; Impairment of non-financial assets:</font><font style="font-family:'Times New Roman'"> The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel&#8217;s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset&#8217;s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset&#8217;s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory', window );">Long-term debt:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.14&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Long-term debt</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing.&#160; After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method.&#160; Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinanceCostsExplanatory', window );">Financing costs:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.15&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Financing costs:</font><font style="font-family:'Times New Roman'"> 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. </font><font style="font-family:'Times New Roman'">For the year ended December 31, 2018, the Company deferred financing costs of $253, which relate to the costs incurred for the new loan agreement with Macquarie Bank International Limited (see Note 12 for more details). For the years ended December 31, 2017 and 2016, the Company did not incur any financing costs.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory', window );">Borrowing costs:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.16&#160;&#160;&#160; Borrowing costs:</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.</font><font style="font-family:'Times New Roman'; font-weight:bold"> </font><font style="font-family:'Times New Roman'">Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under &#8220;interest expense and finance costs&#8221; except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory', window );">Operating segment:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.17&#160;&#160;&#160; Operating segment:</font><font style="font-family:'Times New Roman'"> 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.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory', window );">Provisions and contingencies:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.18&#160;&#160;&#160;&#160;&#160; Provisions and contingencies: </font><font style="font-family:'Times New Roman'">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. </font><font style="font-family:'Times New Roman'">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.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTerminationBenefits', window );">Pension and retirement benefit obligations:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.19&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Pension and retirement benefit obligations: </font><font style="font-family:'Times New Roman'">The crew on board the vessels owned by the ship-owning companies owned by Globus is under short-term contracts (usually up to nine months) and, accordingly, no one is liable for any pension or post-retirement benefits payable to the crew. </font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-1.65pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Provision for employees&#8217; severance compensation: </font><font style="font-family:'Times New Roman'">The Greek employees, of the Company are bound by the Greek Labour law. Accordingly, compensation is payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age is not known. The Company has provided for the employees&#8217; retirement compensation liability which amounted to $87 as at December 31, 2018 (2017: $82), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated statement of financial position.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory', window );">Offsetting of financial assets and liabilities:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.20&#160;&#160;&#160;&#160; Offsetting of financial assets and liabilities: </font><font style="font-family:'Times New Roman'">Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory', window );">Financial assets and liabilities:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:30pt; margin-bottom:0pt; text-indent:-30pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.21&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial assets and liabilities:</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">i.&#160;&#160;&#160; Classification and measurement of financial assets and financial liabilities</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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. </font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">it is held within a business model whose objective is to hold assets to collect contractual cash flows; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">ii.&#160;&#160;&#160; Impairment of financial assets</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">IFRS 9 replaces the &apos;incurred loss&apos; model in IAS 39 with an &apos;expected credit loss&apos; (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The financial assets at amortized cost consist of trade receivables and cash and cash equivalents.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Under IFRS 9, loss allowances are measured on either of the following bases:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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&apos;s historical experience and informed credit assessment and including forward-looking information.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company considers a financial asset to be in default when:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the counterparty is unlikely to pay its contractual obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or</font></li><li style="margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the financial asset is more than 1 year past due.</font></li></ul><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application of IFRS 9&apos;s impairment requirements at January 1, 2018, has not resulted to any additional impairment allowance.</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">iii. Derecognition of financial assets </font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:54pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where:</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">the rights to receive cash flows from the asset have expired;</font></li><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">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 &#8220;pass-through&#8221; arrangement; or </font></li><li style="margin-top:6pt; margin-left:45.14pt; text-align:justify; padding-left:8.86pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></li></ul><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Where the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company&#8217;s continuing involvement in the asset. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">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.</font></p><p style="margin-top:0pt; margin-left:42.55pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">iv. Derecognition of Financial liabilities: </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and, the difference in the respective carrying amounts is recognised in profit or loss.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DescriptionOfAccountingPolicyForLesseeExplanatory', window );">Leases - where the Company is the lessee:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.22&#160;&#160;&#160;&#160;&#160; Leases &#8211; where the Company is the lessee: </font><font style="font-family:'Times New Roman'; letter-spacing:-0.1pt">Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the </font><font style="font-family:'Times New Roman'">income statement component of the </font><font style="font-family:'Times New Roman'; letter-spacing:-0.1pt">consolidated statement of comprehensive loss on a straight-line basis over the period of the lease.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DescriptionOfAccountingPolicyForLessorExplanatory', window );">Leases - where an entity is the lessor:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.23&#160;&#160;&#160;&#160;&#160;&#160; Leases &#8211; where an entity is the lessor: </font><font style="font-family:'Times New Roman'">Leases of vessels where the entity does not transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the period in which they are earned.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts', window );">Insurance:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.24&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insurance: </font><font style="font-family:'Times New Roman'">The Company recognizes insurance claim recoveries for insured losses incurred on damage to vessels.&#160; Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company&#8217;s vessels suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the amounts are virtually certain to be received.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory', window );">Share based compensation:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.25&#160;&#160;&#160;&#160; Share based compensation: </font><font style="font-family:'Times New Roman'">Globus operates equity-settled, share-based compensation plans. The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact in equity.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory', window );">Share capital:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">2.26&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Share capital</font><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">: </font><font style="font-family:'Times New Roman'">Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDividendsExplanatory', window );">Dividends:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.27&#160;&#160;&#160;&#160;&#160; Dividends</font><font style="font-family:'Times New Roman'; font-weight:bold; letter-spacing:-0.1pt">: </font><font style="font-family:'Times New Roman'">Dividends to shareholders are recognised in the period in which the dividends are declared and appropriately authorised and are accounted for as dividends payable until paid.</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory', window );">Fair value measurement:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.28&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair value measurement:</font><font style="font-family:'Times New Roman'"> The Company measures financial instruments, such as, derivatives and non-financial assets&#160; at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised cost are disclosed in note 22. 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&#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company uses the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:81pt; margin-bottom:0pt; text-indent:-45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each reporting period. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company engaged independent valuation specialists to determine the fair value of non-financial assets</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements', window );">Current versus non-current classification:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.29</font><font style="font-family:'Times New Roman'">&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Current versus non-current classification:</font><font style="font-family:'Times New Roman'"> The Company presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-7.1pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">An asset as current when it is:</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Expected to be realised or intended to be sold or consumed in a normal operating cycle </font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Held primarily for the purpose of trading </font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Expected to be realised within twelve months after the reporting period</font></li><li style="margin-left:37.49pt; text-align:justify; padding-left:12.16pt; font-family:serif; font-size:9pt"><font style="font-family:'Times New Roman'">Cash or cash equivalent</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All other assets are classified as non-current. </font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">A liability is current:</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is expected to be settled in a normal operating cycle</font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is held primarily for the purpose of trading </font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">It is due to be settled within twelve months after the reporting period</font></li><li style="margin-left:49.65pt; text-indent:-21.3pt; text-align:justify; font-family:serif; font-size:9pt; list-style-position:inside"><font style="font-family:'Times New Roman'">There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.</font></li></ul><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:35.45pt; margin-bottom:0pt; text-indent:-35.45pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All other liabilities are classified as non-current</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory', window );">Embedded Derivatives:</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-indent:-28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.30</font><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Embedded Derivatives:</font><font style="font-family:'Times New Roman'"> An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3):</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(a) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(c) the hybrid contract is not measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial liability at fair value through profit or loss is not separated).</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s embedded derivativesare separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative financial liabilities as of December 31, 2018 (see Note 12). The fair value of the embedded derivative instrument at December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, is estimated using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield as the Company does not expect to pay a dividend on the foreseeable future, (b) weighted average expected volatility of 80%, (c) risk free rate of 2.48% determined by management using the applicable Treasury Bill as of the measurement date, (d) market value of common stock $2.88 and (e) expected life of 1.89 years as at December 31, 2018.</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DescriptionOfAccountingPolicyForLesseeExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for leases acting as lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DescriptionOfAccountingPolicyForLesseeExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DescriptionOfAccountingPolicyForLessorExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for leases acting as lessor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DescriptionOfAccountingPolicyForLessorExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the accounting policy used to determine the characteristics of current and noncurrent elements as in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DescriptionOfAccountingPolicyToDetermineCharacteristicsOfCurrentElements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for interest and other costs that the entity incurs in connection with the borrowing of funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for depreciation expense. [Refer: Depreciation and amortisation expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for derivative financial instruments. [Refer: Financial instruments, class [member]; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForDividendsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForDividendsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for fair value measurement. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinanceCostsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for finance costs. [Refer: Finance costs]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinanceCostsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of non-financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for insurance contracts and related assets, liabilities, income and expense. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_a&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for measuring inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_36_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the offsetting of financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for regulatory deferral accounts. [Refer: Regulatory deferral account balances [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRegulatoryDeferralAccountsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTerminationBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for termination benefits. [Refer: Termination benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTerminationBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the initial application of an IFRS. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of judgements that management has made in the process of applying the entity's accounting policies that have the most significant effect on amounts recognised in the financial statements along with information about the assumptions that the entity makes about the future, and other major sources of estimation uncertainty at the end of the reporting period, that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next year. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGoingConcernExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the entity's ability to continue as a going concern.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGoingConcernExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739133312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of presentation and general information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract', window );"><strong>Disclosure of subsidiaries [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory', window );">Basis of presentation and general information</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:506.85pt; margin-left:35.45pt; border-collapse:collapse"><tr><td style="width:154.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Company</font></p></td><td style="width:85.4pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Country of Incorporation</font></p></td><td style="width:78.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Vessel Delivery</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Date</font></p></td><td style="width:145.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Vessel Owned</font></p></td></tr><tr style="height:10.5pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Globus Shipmanagement Corp.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Management Co</font></p></td></tr><tr style="height:14.2pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Devocean Maritime Ltd.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">December 18, 2007</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v River Globe</font></p></td></tr><tr style="height:15pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Domina Maritime Ltd.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">May 19, 2010</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Sky Globe</font></p></td></tr><tr style="height:13.8pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Dulac Maritime S.A.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">May 25, 2010</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Star Globe</font></p></td></tr><tr style="height:14pt"><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Artful Shipholding S.A.</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Marshall Islands</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">June 22, 2011</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Moon Globe</font></p></td></tr><tr><td style="width:154.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Longevity Maritime Limited</font></p></td><td style="width:85.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">Malta</font></p></td><td style="width:78.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">September 15, 2011</font></p></td><td style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">m/v Sun Globe</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B4<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B4_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721993824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and cash equivalents and Restricted cash (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfCashAndBankBalancesExplanatory', window );">Cash and cash equivalents and Restricted cash</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:428.3pt; margin-left:36pt; border-collapse:collapse"><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-indent:21.9pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:52.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:43.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Cash on hand</font></p></td><td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">46</font></p></td><td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Cash at banks</font></p></td><td style="width:52.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:43.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,756</font></p></td></tr><tr style="height:12.75pt"><td style="width:300.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:52.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">46</font></p></td><td style="width:43.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,756</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfCashAndBankBalancesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for cash on hand and at banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfCashAndBankBalancesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6624102032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract', window );"><strong>Disclosure of transactions between related parties [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfCompensationOfNonExecutiveDirectors', window );">Compensation of non-executive directors</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:428.6pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:216pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:64.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Director&#8217;s remuneration </font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">145</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">145</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">130</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share-based payments</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">40</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">40</font></p></td><td style="width:64.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">35</font></p></td></tr><tr style="height:13.5pt"><td style="width:191pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">185</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">185</font></p></td><td style="width:64.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">165</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfCompensationOfExecutiveDirector', window );">Compensation of executive director</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:427pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:214.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:80.85pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:55.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Short-term employee benefits </font></p></td><td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">235</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">229</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">82</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Share-based payments</font></p></td><td style="width:80.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:55.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td></tr><tr style="height:13.5pt"><td style="width:191.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:80.85pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">235</font></p></td><td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">229</font></p></td><td style="width:55.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">97</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfCompensationOfExecutiveDirector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation of executive director.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfCompensationOfExecutiveDirector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfCompensationOfNonExecutiveDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation of non-executive directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfCompensationOfNonExecutiveDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739117312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels, net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract', window );"><strong>Vessels, net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory', window );">Vessels, net - Consolidated statement of financial position</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:450.05pt; border-collapse:collapse"><tr style="height:37pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessels cost</font></p></td><td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessels accumulated depreciation</font></p></td><td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Dry docking costs</font></p></td><td style="width:64pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Accumulated depreciation of dry docking costs</font></p></td><td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net Book Value</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at January 1, 2016</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">198,803</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(90,086)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,976</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2,618)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">110,075</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">478</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">478</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Sale of subsidiary</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(19,647)</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">7,200</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(600)</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">276</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(12,771)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,985)</font></p></td><td style="width:48.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,005)</font></p></td><td style="width:48.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,990)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2016</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,156</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(87,871)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,854</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(3,347)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">91,792</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">245</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">976</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,221</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,831)</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(862)</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,693)</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2017</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,401</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(92,702)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,830</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(4,209)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">87,320</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Additions/ (Dry Docking Component)</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">26</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,148</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,174</font></p></td></tr><tr style="height:12.85pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation expense</font></p></td><td style="width:39.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:51.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(4,578)</font></p></td><td style="width:48.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:64pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,166)</font></p></td><td style="width:48.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(5,744)</font></p></td></tr><tr style="height:13.6pt"><td style="width:132.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2018</font></p></td><td style="width:39.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">179,427</font></p></td><td style="width:51.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(97,280)</font></p></td><td style="width:48.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,978</font></p></td><td style="width:64pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(5,375)</font></p></td><td style="width:48.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">83,750</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory', window );">Vessels, net - Consolidated statement of comprehensive loss</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.25pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="3" style="width:232.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31,</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13.65pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Vessels depreciation</font></p></td><td style="width:77.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,578</font></p></td><td style="width:74.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,831</font></p></td><td style="width:59.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,985</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Depreciation on office furniture and equipment</font></p></td><td style="width:77.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:74.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:59.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29</font></p></td></tr><tr style="height:14.45pt"><td style="width:183.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:77.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,601</font></p></td><td style="width:74.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,854</font></p></td><td style="width:59.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">5,014</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of property, plant and equipment in the consolidated statement of comprehensive income / (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfComprehensiveIncomeLossExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of property, plant and equipment in the consolidated statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfPropertyPlantAndEquipmentConsolidatedStatementOfFinancialPositionExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739153680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfInventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory', window );">Inventories</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:428.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:130.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57.45pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:62.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Lubricants </font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">313</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">328</font></p></td></tr><tr style="height:12.75pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Gas cylinders </font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">78</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">63</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers</font></p></td><td style="width:57.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">259</font></p></td><td style="width:62.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">270</font></p></td></tr><tr style="height:13.5pt"><td style="width:276.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:57.45pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">650</font></p></td><td style="width:62.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">661</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of inventories in the consolidated statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfInventoriesConsolidatedStatementOfFinancialPositionExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfInventoriesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfInventoriesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739134832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Prepayments and other assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentAssetsAbstract', window );"><strong>Prepayments and other assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory', window );">Prepayments and other assets</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.15pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:128.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:58.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers </font></p></td><td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">216</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other prepayments and other assets</font></p></td><td style="width:58.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">171</font></p></td><td style="width:58.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">210</font></p></td></tr><tr style="height:13.5pt"><td style="width:287.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:58.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">171</font></p></td><td style="width:58.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">426</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of prepayments and other assets in the consolidated statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfPrepaymentsAndOtherAssetsConsolidatedStatementOfFinancialPositionExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739057760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accrued liabilities and other payables (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract', window );"><strong>Accrued liabilities and other payables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory', window );">Accrued liabilities and other payables</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:439.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="5" style="width:119.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:13.5pt"><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:61.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td colspan="2" style="width:47.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued interest</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">114</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">274</font></p></td><td style="border-top-style:solid; border-top-width:1pt; vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued audit fees</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">57</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other accruals</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">999</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">996</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:12.75pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Insurance deductibles </font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">102</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">139</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.5pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other payables</font></p></td><td style="width:18.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">47</font></p></td><td colspan="2" style="width:47.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">46</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.5pt"><td style="vertical-align:top"></td><td colspan="2" style="width:298.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:18.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,319</font></p></td><td colspan="2" style="width:47.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,455</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:0pt"><td style="width:39.55pt"></td><td style="width:269.65pt"></td><td style="width:39.55pt"></td><td style="width:31.05pt"></td><td style="width:3.6pt"></td><td style="width:54.4pt"></td><td style="width:2.1pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of accrued liabilities and other payables in the consolidated statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfAccruedExpensesAndOtherLiabilitiesConsolidatedStatementOfFinancialPositionExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735404000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Share Premium (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract', window );"><strong>Disclosure of classes of share capital [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory', window );">Authorised share capital</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:410.2pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:156.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">December 31,</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:50.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:33.55pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Authorised share capital:</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">500,000,000 Common shares of par value $0.004 each</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,000</font></p></td></tr><tr style="height:13.5pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">100,000,000 Class B Common shares of par value $0.001 each</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">100,000,000 Preferred shares of par value $0.001 each </font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:50.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td><td style="width:33.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">100</font></p></td></tr><tr style="height:14.3pt"><td style="width:232.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total authorised share capital</font></p></td><td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:50.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:33.55pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfCommonSharesExplanatory', window );">Common shares issued and fully paid</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:418.15pt; margin-left:42.55pt; border-collapse:collapse"><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-indent:27pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Common Shares issued and fully paid</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of shares </font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">USD</font></p></td></tr><tr style="height:12.75pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at January 1, 2016</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">257,965</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,790</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2016</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">262,755</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,094</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,750,000</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock due to exercise of warrants</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">148,181</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2017</font></p></td><td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,163,030</font></p></td><td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year for share based compensation (note 13)</font></p></td><td style="width:81.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,797</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issuance of common stock due to exercise of warrants</font></p></td><td style="width:81.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,500</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:258.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td><td style="width:81.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3,209,327</font></p></td><td style="width:45.9pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfPreferredSharesExplanatory', window );">Series A Preferred Shares issued</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:411pt; margin-left:56.7pt; border-collapse:collapse"><tr style="height:13.5pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Series A Preferred&#160; Shares issued</font></p></td><td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of shares </font></p></td><td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">USD</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As a January 1, 2016</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,567</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Shares redeemed by the issuer</font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2,567)</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(2)</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2016</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year </font></p></td><td style="width:96.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2017</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:12.75pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Issued during the year </font></p></td><td style="width:96.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:234.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td><td style="width:96.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:48.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfCommonSharesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of common shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfCommonSharesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfPreferredSharesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of preferred shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfPreferredSharesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of classes of share capital. [Refer: Share capital [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722025424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loss per share (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Loss per share [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfEarningsPerShareTableExplanatory', window );">Loss per Share</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:471.6pt; margin-left:28.35pt; border-collapse:collapse"><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:215pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:51.3pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:71.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Loss attributable to common equity holders</font></p></td><td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(3,568)</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(6,475)</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(9,825)</font></p></td></tr><tr style="height:13.5pt"><td style="width:235pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Weighted average number of shares for basic and diluted LPS</font></p></td><td style="width:51.3pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3,200,927</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,574,995</font></p></td><td style="width:71.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">260,384</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfEarningsPerShareTableExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfEarningsPerShareTableExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743729568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt, net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract', window );"><strong>Disclosure of detailed information about borrowings [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition', window );">Long-Term Debt, net - Consolidated statement of financial position</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:495.05pt; border-collapse:collapse"><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Borrower</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Loan Balance</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unamortized Debt Discount</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total Borrowings</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Devocean Maritime Ltd., Domina Maritime Ltd. </font><font style="font-family:'Times New Roman'">&amp; Dulac Maritime S.A.</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(46)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,117</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(c)</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Globus Maritime Ltd.</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,500</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,500</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(d) </font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Artful Shipholding S.A. &amp; Longevity Maritime Limited</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,500</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(249)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,251</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total at December 31, 2018</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37,163</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(295)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">36,868</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less: Current Portion</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(35,663)</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">295</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(35,368)</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-Term Portion</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,500</font></p></td><td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,500</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:60.05pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.9pt; border-top-style:double; border-top-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total at December 31, 2017</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,660</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(122)</font></p></td><td style="width:45.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,538</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less: Current Portion</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(41,660)</font></p></td><td style="width:60.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">122</font></p></td><td style="width:45.9pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(41,538)</font></p></td></tr><tr><td style="width:16.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:273pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-Term Portion</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:60.05pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.9pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments', window );">Long-Term Debt, net - Annual loan principal paymetns</a></td>
<td class="text"><div class="Section1"><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2018, assuming that the banks will not demand the repayment of the loans before their maturity, were as follows:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:404.3pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(c)</font></p></td><td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(d)</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:24pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Hamburg Commercial Bank AG</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Firment Shipping Inc. </font></p></td><td colspan="2" style="width:118.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Macquarie Bank International Limited</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31</font></p></td><td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Advance (A)</font></p></td><td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Advance (B)</font></p></td><td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">23.934</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,200</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3.971</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1.771</font></p></td></tr><tr style="height:12.75pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:35.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">889</font></p></td><td style="width:51pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">882</font></p></td><td style="width:45.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1.771</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2023 and thereafter&#160; </font></p></td><td style="width:35.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:63.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:56.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,444</font></p></td><td style="width:51pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3.972</font></p></td><td style="width:45.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6.416</font></p></td></tr><tr style="height:13.5pt"><td style="width:88.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:35.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">22,163</font></p></td><td style="width:63.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,200</font></p></td><td style="width:56.7pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,000</font></p></td><td style="width:51pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">7,500</font></p></td><td style="width:45.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37.863</font></p></td></tr></table></div><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-right:7.05pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin:0pt 7.05pt 0pt 28.35pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The contractual annual loan principal payments per bank loan to be made subsequent to December 31, 2017, assuming that the banks would not demand the repayment of the loans before their maturity, were as follows:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:336.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(a)</font></p></td><td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">(b)</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:24pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Hamburg Commercial Bank AG </font></p></td><td colspan="2" style="width:98pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">DVB Bank</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:13.5pt"><td style="width:103.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December 31</font></p></td><td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Tranche (A)</font></p></td><td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Tranche (B)</font></p></td><td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2018</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,774</font></p></td><td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,380</font></p></td><td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,249</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12,403</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:49.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">22,163</font></p></td><td style="width:45.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">7,094</font></p></td><td style="width:42.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29,257</font></p></td></tr><tr style="height:12.75pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">2020 and thereafter&#160; </font></p></td><td style="width:49.95pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:45.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:42.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.5pt"><td style="width:103.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:49.95pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">24,937</font></p></td><td style="width:45.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,380</font></p></td><td style="width:42.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,343</font></p></td><td style="width:42.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,660</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the amounts of long-term debt in the consolidated statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfBorrowingsConsolidatedStatementOfFinancialPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of annual loan principal payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfLongTermDebtAnnualPrincipalPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6710320448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfShareBasedPayment', window );">Share Based Payment</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:442.7pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:24.05pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2018</font></p></td><td style="width:65.6pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:70.7pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:45.25pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:40.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:11.4pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font><font style="font-family:'Times New Roman'; font-weight:bold">(1)</font></p></td><td style="width:65.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">8,797</font></p></td><td style="width:70.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:45.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">50</font></p></td><td style="width:40.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:12.7pt"><td style="width:167pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2018</font></p></td><td style="width:65.6pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,797</font></p></td><td style="width:70.7pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:45.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50</font></p></td><td style="width:40.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:427.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:21.85pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2017</font></p></td><td style="width:63.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:68pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:43.35pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:38.45pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font><font style="font-family:'Times New Roman'; font-weight:bold">(1)</font><font style="font-family:'Times New Roman'"> </font></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,094</font></p></td><td style="width:68pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:43.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">30</font></p></td><td style="width:38.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:10.9pt"><td style="width:161pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2017</font></p></td><td style="width:63.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,094</font></p></td><td style="width:68pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:43.35pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">30</font></p></td><td style="width:38.45pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-indent:36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">(1) These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:434.05pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:27.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year 2016</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of common shares</font></p></td><td style="width:69.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Number of preferred shares </font></p></td><td style="width:44.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Share premium</font></p></td><td style="width:39.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Retained earnings</font></p></td></tr><tr style="height:13.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:13.95pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Non-executive directors payment </font></p></td><td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,790</font></p></td><td style="width:69.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:44.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">50</font></p></td><td style="width:39.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:14.8pt"><td style="width:163.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance at December 31, 2016</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">4,790</font></p></td><td style="width:69.1pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:44.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50</font></p></td><td style="width:39.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfShareBasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of share based payment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfShareBasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6723047584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage Expenses and Vessel Operating Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>Voyage Expenses and Vessel Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfVoyageAndVesselOperatingExpenses', window );">Voyage Expenses and Vessel Operating Expenses</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">Voyage expenses consisted of:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:438.85pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:195.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:53.7pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60.95pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:59.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Commissions </font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">281</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">241</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">151</font></p></td></tr><tr style="height:20.4pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bunkers expenses</font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">716</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">968</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">593</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other voyage expenses</font></p></td><td style="width:53.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">191</font></p></td><td style="width:60.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">143</font></p></td><td style="width:59.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">210</font></p></td></tr><tr style="height:13.5pt"><td style="width:221.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:53.7pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,188</font></p></td><td style="width:60.95pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,352</font></p></td><td style="width:59.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">954</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Vessel operating expenses consisted of:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:441.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13pt"><td colspan="2" style="width:228.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:191.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:57.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:58.05pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:54.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Crew wages and related costs</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,766</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,645</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,829</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Insurance </font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">607</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">742</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">798</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Spares, repairs and maintenance</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,721</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,222</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,699</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Lubricants</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">501</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">496</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">462</font></p></td></tr><tr style="height:13pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Stores</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,000</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">783</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">633</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other</font></p></td><td colspan="2" style="width:57.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">330</font></p></td><td style="width:58.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">247</font></p></td><td style="width:54.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">267</font></p></td></tr><tr style="height:13.8pt"><td style="width:228.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td colspan="2" style="width:57.9pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,925</font></p></td><td style="width:58.05pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,135</font></p></td><td style="width:54.4pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,688</font></p></td></tr><tr style="height:0pt"><td style="width:239.05pt"></td><td style="width:0.3pt"></td><td style="width:68.4pt"></td><td style="width:68.85pt"></td><td style="width:65.2pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfVoyageAndVesselOperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for voayage expenses and vessel operating expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfVoyageAndVesselOperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6623926272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Administrative Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract', window );"><strong>Administrative Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfAdministrativeExpenses', window );">Administrative Expenses</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:446.75pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="4" style="width:207.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Personnel expenses</font></p></td><td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">778</font></p></td><td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">628</font></p></td><td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,040</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Audit fees</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">103</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">101</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">111</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Travelling expenses</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">5</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Consulting fees</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">76</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">54</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">28</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Communication</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">9</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">19</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Stationery</font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Greek authorities tax (note 20) </font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">118</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">116</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">264</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Other </font></p></td><td style="width:62.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">265</font></p></td><td style="width:61.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">309</font></p></td><td style="width:57.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">626</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:13.8pt"><td style="width:218.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:62.15pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,356</font></p></td><td style="width:61.8pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,224</font></p></td><td style="width:57.5pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,094</font></p></td><td style="vertical-align:top"></td></tr><tr style="height:0pt"><td style="width:228.85pt"></td><td style="width:72.95pt"></td><td style="width:72.6pt"></td><td style="width:68.3pt"></td><td style="width:4.05pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6723155936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Interest Expense and Finance Costs (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestCostsAbstract', window );"><strong>Interest Expense and Finance Costs [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory', window );">Interest Expense and Finance Costs</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:445.65pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="3" style="width:188.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the year ended December 31,</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Interest payable on long-term borrowings</font></p></td><td style="width:48.6pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2.004</font></p></td><td style="width:60.65pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,778</font></p></td><td style="width:57.2pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,430</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Bank charges </font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">29</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">34</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">33</font></p></td></tr><tr style="height:12.75pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Amortization of debt discount</font></p></td><td style="width:48.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">23</font></p></td><td style="width:60.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">84</font></p></td><td style="width:57.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">128</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other finance expenses</font></p></td><td style="width:48.6pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:60.65pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">325</font></p></td><td style="width:57.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">85</font></p></td></tr><tr style="height:13.5pt"><td style="width:236pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:48.6pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.056</font></p></td><td style="width:60.65pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,221</font></p></td><td style="width:57.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,676</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest expense and finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfInterestExpenseAndFinanceCostsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestCostsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestCostsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6624813712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract', window );"><strong>Commitments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory', window );">Future minimum lease revenues receivable under non-cancellable operating leases</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:425.25pt; margin-left:28.35pt; border-collapse:collapse"><tr style="height:16.4pt"><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:74.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Within one year</font></p></td><td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,991</font></p></td><td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,548</font></p></td></tr><tr><td style="width:258.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:60.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2,991</font></p></td><td style="width:74.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:double; border-bottom-width:1.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,548</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory', window );">Future minimum lease payments</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:387.8pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:62.75pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:69.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr style="height:12.75pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:1.2pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Within one year</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">142</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">149</font></p></td></tr><tr style="height:12.75pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">After one year but not more than five years</font><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">567</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">596</font></p></td></tr><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">More than five years</font></p></td><td style="width:62.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">142</font></p></td><td style="width:69.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">299</font></p></td></tr><tr style="height:13.5pt"><td style="width:223.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:62.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">851</font></p></td><td style="width:69.2pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1,044</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of future minimum lease payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfFutureMinimumLeasePaymentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of future minimum lease revenues receivable under non-cancellable operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfFutureMinimumLeaseRevenuesReceivableExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6717831280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial risk management objectives and policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial risk management objectives and policies [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfInterestRateRiskExplanatory', window );">Interest rate risk</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:460.7pt; margin-left:35.45pt; border-collapse:collapse"><tr style="height:23pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Increase/(Decrease) in basis points</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-right:1.6pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect on loss</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">$ Libor</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(60)</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-20</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">80</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">$ Libor</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">15</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(69)</font></p></td></tr><tr style="height:14.5pt"><td style="width:216pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-20</font></p></td><td style="width:88.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">86</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfForeignCurrencyRiskExplanatory', window );">Foreign currency risk</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:460.25pt; margin-left:36pt; border-collapse:collapse"><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Change in rate</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect on loss </font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">+10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(284)</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">284</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">+10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(251)</font></p></td></tr><tr style="height:15.05pt"><td style="width:215.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:121.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'">-10%</font></p></td><td style="width:91.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">251</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfConcentrationOfCreditRiskExplanatory', window );">Concentration of credit risk table</a></td>
<td class="text"><div class="Section1"><table cellspacing="0" cellpadding="0" style="width:387.65pt; margin-left:42.05pt; border-collapse:collapse"><tr style="height:25.4pt"><td style="width:62.85pt; border:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td><td style="width:46.35pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:37.8pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td><td style="width:36.95pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td><td style="width:34.4pt; border-top:1pt solid #ffffff; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">A</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3,679</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">21%</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,404</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">10%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">B</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,873</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">17%</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">890</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">C</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,849</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:21.1pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">D</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,459</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11%</font></p></td><td style="width:36.95pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:34.4pt; border-right:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">E</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:37.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:36.95pt; border-right:1pt solid #ffffff; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,013</font></p></td><td style="width:34.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-right:1pt solid #ffffff; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Other </font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">10,802</font></p></td><td style="width:46.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">62%</font></p></td><td style="width:46.35pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">9,140</font></p></td><td style="width:37.8pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">66%</font></p></td><td style="width:36.95pt; border-right:1pt solid #ffffff; border-bottom-style:solid; border-bottom-width:1pt; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,520</font></p></td><td style="width:34.4pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#ffffff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">77%</font></p></td></tr><tr style="height:13.75pt"><td style="width:62.85pt; border-left:1pt solid #ffffff; border-bottom:1pt solid #ffffff; padding-right:5.4pt; padding-left:4.9pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">17,354</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td><td style="width:46.35pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">13,852</font></p></td><td style="width:37.8pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td><td style="width:36.95pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">8,423</font></p></td><td style="width:34.4pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">100%</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfManagingLiquidityRisk', window );">Liquidity risk</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:434.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year ended December 31, 2018</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less than 3 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3 to 12 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1 to 5 years</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">More than 5 years</font></p></td><td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:16.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Long-term debt</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,720</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">24,502</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">16,</font><font style="font-family:'Times New Roman'">465</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">42,</font><font style="font-family:'Times New Roman'">687</font></p></td></tr><tr style="height:16.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued liabilities and other payables</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,319</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,319</font></p></td></tr><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Trade payables</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,433</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:33.2pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">6,433</font></p></td></tr><tr style="height:17.85pt"><td style="width:138.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">9,472</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">24,502</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">16,46</font><font style="font-family:'Times New Roman'; font-weight:bold">5</font></p></td><td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:33.2pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-left:2.95pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,43</font><font style="font-family:'Times New Roman'; font-weight:bold">9</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:-36pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; * This table includes both </font><font style="font-family:'Times New Roman'">the derivative component and the non-derivative host.</font><font style="font-family:'Times New Roman'">of the hybrid agreement with Firment Shipping Credit Facility (see Note 12)</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:436pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year ended December 31, 2017</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Less than 3 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3 to 12 months</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">1 to 5 years</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">More than 5 years</font></p></td><td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:16.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Long-term debt</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,145</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">12,989</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">30,285</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">44,419</font></p></td></tr><tr style="height:16.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Accrued liabilities and other payables</font></p></td><td style="width:61.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,455</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,455</font></p></td></tr><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Trade payables</font></p></td><td style="width:61.5pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,258</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:41.9pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:52.1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:30.25pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">4,258</font></p></td></tr><tr style="height:17.85pt"><td style="width:143.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:61.5pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">6,858</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">12,989</font></p></td><td style="width:41.9pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">30,285</font></p></td><td style="width:52.1pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">-</font></p></td><td style="width:30.25pt; border-bottom-style:double; border-bottom-width:2.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,132</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfCapitalManagementExplanatory', window );">Capital management</a></td>
<td class="text"><div class="Section1"><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Adjusted book capitalization refers to total equity adjusted for the market value of the Company&#8217;s vessels. The Company&#8217;s policy is to keep the ratio described above between a range of 60% - 80%.</font></p><table cellspacing="0" cellpadding="0" style="width:459.45pt; margin-left:7.1pt; border-collapse:collapse"><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:136.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160; December 31,</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Interest bearing loans</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,863</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,660</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Cash (including restricted cash)</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(1,396)</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(2,966)</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net debt</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">36,467</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">38,694</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Equity</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,050</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">43,968</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Adjustment for the market value of vessels (charter-free)</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(27,500)</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">(31,970)</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Adjusted book capitalization</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">13,550</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">11,998</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:55.8pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Adjusted book capitalization plus net debt</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,017</font></p></td><td style="width:55.8pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">50,692</font></p></td></tr><tr><td style="width:301.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Ratio</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">73%</font></p></td><td style="width:55.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:18pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">76%</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">The Company&#8217;s objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated above is not consistent with the International Financial Reporting Standards (&#8220;IFRS&#8221;) definition of debt. The following reconciliation is provided:</font></p><table cellspacing="0" cellpadding="0" style="width:439.45pt; margin-left:28.35pt; border-collapse:collapse"><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td colspan="2" style="width:145.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#160;&#160; December 31,</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Debt in accordance with IFRS (long and short-term borrowings)</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">36,868</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,538</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Add: Unamortized debt discount</font></p></td><td style="width:70.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">295</font></p></td><td style="width:64.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">122</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,163</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,660</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Less: Cash and bank balances and bank deposits (including restricted cash)</font></p></td><td style="width:70.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">1,396</font></p></td><td style="width:64.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">2,966</font></p></td></tr><tr><td style="width:272.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">Net debt</font></p></td><td style="width:70.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">35,767</font></p></td><td style="width:64.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">38,694</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfCapitalManagementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of capital management.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfCapitalManagementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfConcentrationOfCreditRiskExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of concentration of credit risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfConcentrationOfCreditRiskExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfForeignCurrencyRiskExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of foreign currency risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfForeignCurrencyRiskExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfInterestRateRiskExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest rate risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfInterestRateRiskExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfManagingLiquidityRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of how the entity manages its liquidity risk. [Refer: Liquidity risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 39<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_39_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfManagingLiquidityRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739059360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair values (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract', window );"><strong>Disclosure of fair value measurement of assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DisclosureOfFairValuesExplanatory', window );">Fair value measurement</a></td>
<td class="text"><div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:482.95pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:160.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Fair value</font></p></td></tr><tr style="height:27.7pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">(in thousands of USD)</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Other financial liabilities</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 1</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 2</font></p></td><td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 3</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Derivative financial instruments</font></p></td><td style="width:79.35pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">831</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">-</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">831</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">831</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">831</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities not measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Long</font><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">term borrowings</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">37,163</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">3</font><font style="font-family:'Times New Roman'">7</font><font style="font-family:'Times New Roman'">,</font><font style="font-family:'Times New Roman'">030</font></p></td><td style="width:34.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">3</font><font style="font-family:'Times New Roman'; font-weight:bold">7</font><font style="font-family:'Times New Roman'; font-weight:bold">,</font><font style="font-family:'Times New Roman'; font-weight:bold">030</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">37,163</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:34.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; text-align:justify; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:475.9pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="4" style="width:153.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Fair value</font></p></td></tr><tr style="height:27.7pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-style:italic">(in thousands of USD)</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Other financial liabilities</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 1</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 2</font></p></td><td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Level 3</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:79.35pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; border-top-style:solid; border-top-width:1pt; border-bottom-style:solid; border-bottom-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.1pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">Financial liabilities not measured at fair value</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">Long</font><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">term borrowings</font></p></td><td style="width:79.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,538</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">41,219</font></p></td><td style="width:27.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,219</font></p></td></tr><tr style="height:12.8pt"><td style="width:194.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:79.35pt; border-top:1pt solid #002060; border-bottom:1pt solid #002060; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:9pt"><font style="font-family:'Times New Roman'; font-weight:bold">41,538</font></p></td><td style="width:5.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.85pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:33.8pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:27.75pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.45pt; border-top-style:solid; border-top-width:1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="margin-top:0pt; margin-bottom:0pt; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DisclosureOfFairValuesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of fair values.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DisclosureOfFairValuesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743939520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Table) (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_GlobusShipmanagementCorpMember', window );">Globus Shipmanagement Corp.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Marshall Islands<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">Management Co. <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DevoceanMaritimeLtdMember', window );">Devocean Maritime Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Marshall Islands<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselDeliveryDate', window );">Vessel Delivery Date</a></td>
<td class="text">December 18, 2007<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">m/v River Globe<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DominaMaritimeLtdMember', window );">Domina Maritime Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Marshall Islands<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselDeliveryDate', window );">Vessel Delivery Date</a></td>
<td class="text">May 19, 2010<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">m/v Sky Globe<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DulacMaritimeSAMember', window );">Dulac Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Marshall Islands<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselDeliveryDate', window );">Vessel Delivery Date</a></td>
<td class="text">May 25, 2010<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">m/v Star Globe<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_ArtfulShipholdingSAMember', window );">Artful Shipholding S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Marshall Islands<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselDeliveryDate', window );">Vessel Delivery Date</a></td>
<td class="text">June 22, 2011<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">m/v Moon Globe<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_LongevityMaritimeLimitedMember', window );">Longevity Maritime Limited</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country of Incorporation</a></td>
<td class="text">Malta<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselDeliveryDate', window );">Vessel Delivery Date</a></td>
<td class="text">September 15, 2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Vessel Owned</a></td>
<td class="text">m/v Sun Globe<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_VesselDeliveryDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date of the vessel delivery to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_VesselDeliveryDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The country in which a subsidiary of the entity is incorporated. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_16_b_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_17_b_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 12<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_12_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 19B<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_19B_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NameOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The name of a subsidiary. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_17_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_16_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 12<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_12_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 19B<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_19B_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NameOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_GlobusShipmanagementCorpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_GlobusShipmanagementCorpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DevoceanMaritimeLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DevoceanMaritimeLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DominaMaritimeLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DominaMaritimeLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DulacMaritimeSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DulacMaritimeSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_ArtfulShipholdingSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_ArtfulShipholdingSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_LongevityMaritimeLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_LongevityMaritimeLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6624780096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Details) - Common shares<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Oct. 15, 2018 </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 20, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 14, 2018 </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 19, 2016 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareLineItems', window );"><strong>Earnings per share [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ReverseStockSplitConversionRatio', window );">Reverse stock split, Conversion ratio</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding</a></td>
<td class="nump">3,206,495<span></span>
</td>
<td class="nump">2,627,674<span></span>
</td>
<td class="nump">32,065,077<span></span>
</td>
<td class="nump">10,510,741<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ReverseStockSplitConversionRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of a reverse stock split, for example two shares converted to one.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ReverseStockSplitConversionRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6745971616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Preparation And Significant Accounting Policies (Details)<br></strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 13, 2019 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Mar. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssetsLiabilities', window );">Working capital deficit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (40,412,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AllowanceForDoubtfulTradeReceivables', window );">Provision for doubtful trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68,000<span></span>
</td>
<td class="nump">$ 138,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingCostsCapitalised', window );">Borrowing costs capitalised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 253,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfOperatingSegments', window );">Number of Operating Segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan', window );">Description of the nature of the benefits provided by the defined benefit plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 87,000<span></span>
</td>
<td class="nump">82,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of long-term borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,368,000<span></span>
</td>
<td class="nump">41,538,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseVoyageRevenues', window );">Increase/ decrease in voyage revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">668,000<span></span>
</td>
<td class="nump">540,000<span></span>
</td>
<td class="nump">317,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseVoyageExpenses', window );">Increase/ decrease in voyage expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">668,000<span></span>
</td>
<td class="nump">540,000<span></span>
</td>
<td class="nump">317,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000<span></span>
</td>
<td class="nump">9,653,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,800,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 37,163,000<span></span>
</td>
<td class="nump">41,660,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis=glbs_BlackScholesOptionPricingModelMember', window );">Black-Scholes option pricing model</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities', window );">Historical volatility for shares, significant unobservable inputs, liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRateSignificantUnobservableInputsLiabilities', window );">Risk free rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.48%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DerivativeLifeSignificantUnobservableInputsLiabilities', window );">Expected life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1.89 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities', window );">Expected Dividend Yield Significant Unobservable Inputs Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageSharePrice', window );">Weighted average share price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember', window );">Convertible Note</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share | $ / shares</a></td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember', window );">Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NewIFRSsAxis=glbs_IFRS16LeasesMember', window );">Leases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationMethodPropertyPlantAndEquipment', window );">Depreciation method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">straight-line basis<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 674,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially', window );">Date as at which entity plans to apply new IFRS initially</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  01,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TitleOfNewIFRS', window );">Title of new IFRS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">IFRS 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired', window );">Date by which application of new IFRS is required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  01,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankAndHamburgCommercialBankAGMember', window );">Macquarie Bank and Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of long-term borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 35,368,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementIIMember', window );">Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember', window );">Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationMethodPropertyPlantAndEquipment', window );">Depreciation method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">straight-line basis<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment', window );">Useful life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">25 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselsScrapRatePerTon', window );">Vessels scrap rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 300<span></span>
</td>
<td class="nump">$ 200<span></span>
</td>
<td class="nump">$ 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 240<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExtraDepreciationPropertyPlantAndEquipment', window );">Increase / (decrease) in depreciation expense due to changes in scrap rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (178,000)<span></span>
</td>
<td class="num">$ (86,000)<span></span>
</td>
<td class="nump">$ 96,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DeferredDryDockingCostsMember', window );">Deferred dry docking costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems', window );"><strong>Basis of Preparation and Significant Accounting Policies [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationMethodPropertyPlantAndEquipment', window );">Depreciation method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">straight-line basis<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IntervalBetweenVesselDrydockingSpecialSurvey', window );">Interval between vessel drydockings / special surveys</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years 6 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AllowanceForDoubtfulTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade receivables due from companies that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AllowanceForDoubtfulTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DerivativeLifeSignificantUnobservableInputsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The derivative life used as a significant Level 3 unobservable input for liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DerivativeLifeSignificantUnobservableInputsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected dividend yield  used as a significant Level 3 unobservable input for liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ExpectedDividendYieldSignificantUnobservableInputsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ExtraDepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The extra depreciation expense recognised during the period, due to changes in scrap rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ExtraDepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseVoyageExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in expenses arising from rendering of services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseVoyageExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseVoyageRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in revenues arising from rendering of services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseVoyageRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IntervalBetweenVesselDrydockingSpecialSurvey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to the period of review of drydocking and special survey costs in order to be amortized or deferred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IntervalBetweenVesselDrydockingSpecialSurvey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfOperatingSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfOperatingSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_VesselsScrapRatePerTon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated vessels' scrap rate per ton.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_VesselsScrapRatePerTon</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingCostsCapitalised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest and other costs that an entity incurs in connection with the borrowing of funds that are directly attributable to the acquisition, construction or production of a qualifying asset and which form part of the cost of that asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 23<br> -IssueDate 2018-01-01<br> -Paragraph 26<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=23&amp;date=2018-03-01&amp;anchor=para_26_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingCostsCapitalised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current assets less the amount of current liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date on which the entity plans to apply a new IFRS that has been issued but is not yet effective.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_31_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DateAsAtWhichEntityPlansToApplyNewIFRSInitially</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date by which the entity is required to apply a new IFRS that has been issued but is not yet effective.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_31_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DateByWhichApplicationOfNewIFRSIsRequired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationMethodPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The depreciation method used for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationMethodPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the nature of the benefits provided by a defined benefit plan (for example, final salary defined benefit plan or contribution-based plan with guarantee). [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 139<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_139_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfNatureOfBenefitsProvidedByPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInitialApplicationOfStandardsOrInterpretationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Historical volatility for shares used as a significant Level 3 unobservable input for liabilities. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph B36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_B36_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HistoricalVolatilityForSharesSignificantUnobservableInputsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRateSignificantUnobservableInputsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest rate used as a significant Level 3 unobservable input for liabilities. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph B36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_B36_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRateSignificantUnobservableInputsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2019-01-01<br> -Name IFRS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TitleOfNewIFRS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The title of a new IFRS that has been issued but is not yet effective.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_31_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TitleOfNewIFRS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UndrawnBorrowingFacilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments. [Refer: Capital commitments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UndrawnBorrowingFacilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The useful lives or depreciation rates used for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageSharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average share price. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_45_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageSharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis=glbs_BlackScholesOptionPricingModelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis=glbs_BlackScholesOptionPricingModelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NewIFRSsAxis=glbs_IFRS16LeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NewIFRSsAxis=glbs_IFRS16LeasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankAndHamburgCommercialBankAGMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankAndHamburgCommercialBankAGMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementIIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DeferredDryDockingCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DeferredDryDockingCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735616992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cash and cash equivalents and Restricted cash (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashOnHand', window );">Cash on hand</a></td>
<td class="nump">$ 46<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesWithBanks', window );">Cash at banks</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Total</a></td>
<td class="nump">$ 46<span></span>
</td>
<td class="nump">$ 2,756<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
<td class="nump">$ 2,005<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesWithBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash balances held at banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesWithBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashOnHand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash held by the entity. This does not include demand deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashOnHand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6720090000">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cash and cash equivalents and Restricted Cash (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CashAndCashEquivalentsFairValueDisclosure', window );">Fair value of cash and cash equivalents</a></td>
<td class="nump">$ 46<span></span>
</td>
<td class="nump">$ 2,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="nump">12,800<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RestrictedCashAndCashEquivalents', window );">Pledged cash</a></td>
<td class="nump">1,350<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure', window );">Fair value of restricted cash and cash equivalents</a></td>
<td class="nump">$ 1,350<span></span>
</td>
<td class="nump">$ 210<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CashAndCashEquivalentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CashAndCashEquivalentsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of cash and cash equivalent items which are restricted as to withdrawal or usage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_RestrictedCashAndCashEquivalentsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UndrawnBorrowingFacilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments. [Refer: Capital commitments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UndrawnBorrowingFacilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722165904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DirectorsCompensationSharebasedPayment', window );">Share-based payments</a></td>
<td class="nump">$ 40<span></span>
</td>
<td class="nump">$ 40<span></span>
</td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember', window );">Non-Executive Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DirectorsRemunerationExpense', window );">Director's remuneration</a></td>
<td class="nump">145<span></span>
</td>
<td class="nump">145<span></span>
</td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DirectorsCompensationSharebasedPayment', window );">Share-based payments</a></td>
<td class="nump">40<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total</a></td>
<td class="nump">$ 185<span></span>
</td>
<td class="nump">$ 185<span></span>
</td>
<td class="nump">$ 165<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DirectorsCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to directors in the form of share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DirectorsCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DirectorsRemunerationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of remuneration paid or payable to the entity's directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DirectorsRemunerationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735759920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Compensation to the Company's Executive Director (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DirectorsCompensationSharebasedPayment', window );">Share-based payments</a></td>
<td class="nump">$ 40<span></span>
</td>
<td class="nump">$ 40<span></span>
</td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember', window );">Executive Director</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term employee benefits</a></td>
<td class="nump">235<span></span>
</td>
<td class="nump">229<span></span>
</td>
<td class="nump">82<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DirectorsCompensationSharebasedPayment', window );">Share-based payments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total</a></td>
<td class="nump">$ 235<span></span>
</td>
<td class="nump">$ 229<span></span>
</td>
<td class="nump">$ 97<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DirectorsCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to directors in the form of share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DirectorsCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6749175520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties (Details)<br></strong></div></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="1">8 Months Ended</th>
<th class="th" colspan="1">11 Months Ended</th>
<th class="th" colspan="5">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 10, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 08, 2017 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 18, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Nov. 30, 2018 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesHeldByControllingParty', window );">Number of common shares held by the controlling party | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,420,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty', window );">Proportion of ownership interests held by the controlling party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.30%<span></span>
</td>
<td class="nump">58.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConsultingFeesExpense', window );">Consulting fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 76,000<span></span>
</td>
<td class="nump">$ 54,000<span></span>
</td>
<td class="nump">$ 28,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,868,000<span></span>
</td>
<td class="nump">41,538,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,004,000<span></span>
</td>
<td class="nump">1,778,000<span></span>
</td>
<td class="nump">2,430,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000<span></span>
</td>
<td class="nump">9,653,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,497,000<span></span>
</td>
<td class="nump">4,399,000<span></span>
</td>
<td class="nump">3,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Consulting fee income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">31,000<span></span>
</td>
<td class="nump">278,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,700,000<span></span>
</td>
<td class="nump">280,000<span></span>
</td>
<td class="nump">5,950,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,800,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember', window );">Cyberonica S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MonthlyRentalExpense', window );">Monthly rental expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,900<span></span>
</td>
<td class="nump">&#8364; 10,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions', window );">Rental expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">147,000<span></span>
</td>
<td class="nump">140,000<span></span>
</td>
<td class="nump">138,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsPayableRelatedPartyTransactions', window );">Unpaid rent expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">427,000<span></span>
</td>
<td class="nump">471,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember', window );">Non-Executive Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DirectorsRemunerationExpense', window );">Directors' remuneration expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">145,000<span></span>
</td>
<td class="nump">145,000<span></span>
</td>
<td class="nump">130,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccruedDirectorsCompensation', window );">Accrued compensation to directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">201,000<span></span>
</td>
<td class="nump">126,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember', window );">Executive Director</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccruedDirectorsCompensation', window );">Accrued compensation to directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">391,000<span></span>
</td>
<td class="nump">239,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_AffiliatedCompanyOfCompanysCEOMember', window );">Affiliated Company of Company's CEO</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConsultingFeesExpense', window );">Consulting fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 235,000<span></span>
</td>
<td class="nump">229,000<span></span>
</td>
<td class="nump">97,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember', window );">Firment Trading Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Credit Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,000,000<span></span>
</td>
<td class="nump">$ 8,000,000<span></span>
</td>
<td class="nump">$ 4,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Credit Facility, Drawn down amounts multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,524,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">608,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,885,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,688,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">623,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="nump">$ 1,639,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">April 12, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember', window );">Silaner Investments Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Credit Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Credit Facility, Drawn down amounts multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="nump">74,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,115,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">311,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">280,000<span></span>
</td>
<td class="nump">74,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">January 12, 2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">280,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_EolosShipmanagementSAMember', window );">Eolos Shipmanagement S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DailyConsultingFeeIncome', window );">Daily consulting fee income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Consulting fee income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 31,000<span></span>
</td>
<td class="nump">$ 187,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember', window );">Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Credit Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Credit Facility, Drawn down amounts multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">November 19, 2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Consulting fee income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsDefaultInterestRate', window );">Default Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleConversionPrice', window );">Conversion price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleThresholdTradingDays', window );">Threshold trading days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleConversionMultiplier', window );">Pricing period multiplied</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember', window );">Firment Shipping Inc. | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty', window );">Proportion of ownership interests held by the controlling party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember', window );">February 2017 Private Placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,052,321<span></span>
</td>
<td class="nump">3,089,821<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AccruedDirectorsCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for directors' services provided.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AccruedDirectorsCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsDefaultInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The default interest per annum above the regular interest charged, in case of failure to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsDefaultInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ConsultingFeesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable for consulting fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ConsultingFeesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DailyConsultingFeeIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of daily income relating to consulting fee income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DailyConsultingFeeIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleConversionMultiplier">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The multiplier used in order to calculate the price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleConversionMultiplier</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleThresholdTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold number of specified consecutive trading days immediately preceding the date on which the Conversion Notice was executed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleThresholdTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ExercisePriceOfOutstandingWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exercise price of outstanding warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ExercisePriceOfOutstandingWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityDecreaseForgiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in line of credit facility from forgiveness by the holder of the line of credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityDecreaseForgiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The multiples of amounts that the company has the right to drawdown under the relevant credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityDrawndownAmountsMultiples</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_MonthlyRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of monthly expense recognised on rental activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_MonthlyRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfSharesCalledByWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares into which the warrants may be converted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfSharesCalledByWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfSharesHeldByControllingParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of common shares held by the controlling party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfSharesHeldByControllingParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interests held by the controlling party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ProportionOfOwnershipInterestsHeldByControllingParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsPayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts payable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsPayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DirectorsRemunerationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of remuneration paid or payable to the entity's directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DirectorsRemunerationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of leases where the entity was the lessee in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 21<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_21_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeasesAsLesseeRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UndrawnBorrowingFacilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments. [Refer: Capital commitments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UndrawnBorrowingFacilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_AffiliatedCompanyOfCompanysCEOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_AffiliatedCompanyOfCompanysCEOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_EolosShipmanagementSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_EolosShipmanagementSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6746398256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels, net - Consolidated Statement of Financial Position (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">$ 87,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions/ (Dry Docking Component)</a></td>
<td class="nump">2,174<span></span>
</td>
<td class="nump">$ 1,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expense</a></td>
<td class="num">(5,744)<span></span>
</td>
<td class="num">(5,693)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">83,750<span></span>
</td>
<td class="nump">87,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=glbs_CarryingAmountIMember', window );">Carrying Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">87,320<span></span>
</td>
<td class="nump">91,792<span></span>
</td>
<td class="nump">$ 110,075<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions/ (Dry Docking Component)</a></td>
<td class="nump">2,174<span></span>
</td>
<td class="nump">1,221<span></span>
</td>
<td class="nump">478<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Sale of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,771)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expense</a></td>
<td class="num">(5,744)<span></span>
</td>
<td class="num">(5,693)<span></span>
</td>
<td class="num">(5,990)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">83,750<span></span>
</td>
<td class="nump">87,320<span></span>
</td>
<td class="nump">91,792<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember', window );">Vessels | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">179,401<span></span>
</td>
<td class="nump">179,156<span></span>
</td>
<td class="nump">198,803<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions/ (Dry Docking Component)</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Sale of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,647)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">179,427<span></span>
</td>
<td class="nump">179,401<span></span>
</td>
<td class="nump">179,156<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember', window );">Vessels | Accumulated depreciation, amortisation and impairment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationPropertyPlantAndEquipment', window );">Balance</a></td>
<td class="num">(92,702)<span></span>
</td>
<td class="num">(87,871)<span></span>
</td>
<td class="num">(90,086)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationSaleOfSubsidiary', window );">Sale of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expense</a></td>
<td class="num">(4,578)<span></span>
</td>
<td class="num">(4,831)<span></span>
</td>
<td class="num">(4,985)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationPropertyPlantAndEquipment', window );">Balance</a></td>
<td class="num">(97,280)<span></span>
</td>
<td class="num">(92,702)<span></span>
</td>
<td class="num">(87,871)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DryDockingMember', window );">Dry docking | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">4,830<span></span>
</td>
<td class="nump">3,854<span></span>
</td>
<td class="nump">3,976<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions/ (Dry Docking Component)</a></td>
<td class="nump">2,148<span></span>
</td>
<td class="nump">976<span></span>
</td>
<td class="nump">478<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Sale of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(600)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Ships', window );">Balance</a></td>
<td class="nump">6,978<span></span>
</td>
<td class="nump">4,830<span></span>
</td>
<td class="nump">3,854<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DryDockingMember', window );">Dry docking | Accumulated depreciation, amortisation and impairment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationPropertyPlantAndEquipment', window );">Balance</a></td>
<td class="num">(4,209)<span></span>
</td>
<td class="num">(3,347)<span></span>
</td>
<td class="num">(2,618)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationSaleOfSubsidiary', window );">Sale of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">276<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expense</a></td>
<td class="num">(1,166)<span></span>
</td>
<td class="num">(862)<span></span>
</td>
<td class="num">(1,005)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccumulatedDepreciationPropertyPlantAndEquipment', window );">Balance</a></td>
<td class="num">$ (5,375)<span></span>
</td>
<td class="num">$ (4,209)<span></span>
</td>
<td class="num">$ (3,347)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AccumulatedDepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AccumulatedDepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AccumulatedDepreciationSaleOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in accumulated depreciation as a result of sale of subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AccumulatedDepreciationSaleOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from the loss of control of a subsidiary. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Ships">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing seafaring or other maritime vessels used in the entity's operations. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_37_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Ships</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=glbs_CarryingAmountIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=glbs_CarryingAmountIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ShipsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DryDockingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_DryDockingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6656112512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels, net - Consolidated Statement of Comprehensive Income (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract', window );"><strong>Vessels, net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Vessels depreciation</a></td>
<td class="nump">$ 4,578<span></span>
</td>
<td class="nump">$ 4,831<span></span>
</td>
<td class="nump">$ 4,985<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DepreciationOfficeFurnitureAndEquipment', window );">Depreciation on office furniture and equipment</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">23<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Total</a></td>
<td class="nump">$ 4,601<span></span>
</td>
<td class="nump">$ 4,854<span></span>
</td>
<td class="nump">$ 5,014<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DepreciationOfficeFurnitureAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of office furniture and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DepreciationOfficeFurnitureAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_e_vii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 75<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_75_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6736479712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels, net (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates', window );">Annual growth rate of time charter rates</a></td>
<td class="nump">1.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AssumptionOfExpectedRatesOfInflation', window );">Expected rate of inflation</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AssumptionOfFleetUtilisationRate', window );">Expected fleet utilisation rate</a></td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_TimePeriodConsidered', window );">Time Period Considered</a></td>
<td class="text">The Company used the historical ten-year blended average one-year time charter rates.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_SupramaxMember', window );">Supramax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselCapacity', window );">Vessel capacity</a></td>
<td class="nump">50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_PanamaxMember', window );">Panamax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VesselCapacity', window );">Vessel capacity</a></td>
<td class="nump">70,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected annual growth rate of time charter rates used as an assumption to determine the discounted future cash flows of each vessel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AssumptionOfAnnualGrowthRatesOfTimeCharterRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AssumptionOfExpectedRatesOfInflation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of inflation that is used as an assumption to determine the discounted future cash flows of each vessel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AssumptionOfExpectedRatesOfInflation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AssumptionOfFleetUtilisationRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected fleet utilisation rate that is used as an assumption to determine the discounted future cash flows of each vessel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AssumptionOfFleetUtilisationRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_TimePeriodConsidered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period of time charter rates used to create an average to calculate cash flows for impairment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_TimePeriodConsidered</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage ("dwt").</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for property, plant and equipment. [Refer: Impairment loss recognised in profit or loss; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_e_v&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 98<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_98_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_SupramaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_SupramaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_PanamaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=glbs_PanamaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721964944">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Inventories (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfInventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LubricantsInventoryCurrent', window );">Lubricants</a></td>
<td class="nump">$ 313<span></span>
</td>
<td class="nump">$ 328<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_GasCylindersInventoryCurrent', window );">Gas cylinders</a></td>
<td class="nump">78<span></span>
</td>
<td class="nump">63<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BunkerInventoryCurrent', window );">Bunkers</a></td>
<td class="nump">259<span></span>
</td>
<td class="nump">270<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Total</a></td>
<td class="nump">$ 650<span></span>
</td>
<td class="nump">$ 661<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BunkerInventoryCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of bunkers' inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BunkerInventoryCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_GasCylindersInventoryCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of gas cylinder's inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_GasCylindersInventoryCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LubricantsInventoryCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of lubricants' inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LubricantsInventoryCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfInventoriesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfInventoriesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6746005648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Prepayments and other assets (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentAssetsAbstract', window );"><strong>Prepayments and other assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAdvancesToSuppliers', window );">Bunkers</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 216<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepayments', window );">Other prepayments and other assets</a></td>
<td class="nump">171<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Total</a></td>
<td class="nump">$ 171<span></span>
</td>
<td class="nump">$ 426<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAdvancesToSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current advances made to suppliers before goods or services are received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAdvancesToSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments. [Refer: Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6739139248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Trade accounts payable (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesAbstract', window );"><strong>Trade accounts payable [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade accounts payable</a></td>
<td class="nump">$ 6,433<span></span>
</td>
<td class="nump">$ 4,258<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721060672">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accrued liabilities and other payables (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract', window );"><strong>Accrued liabilities and other payables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInterestPayable', window );">Accrued interest</a></td>
<td class="nump">$ 114<span></span>
</td>
<td class="nump">$ 274<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AccruedAuditFeesCurrent', window );">Accrued audit fees</a></td>
<td class="nump">57<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_OtherAccruals', window );">Other accruals</a></td>
<td class="nump">999<span></span>
</td>
<td class="nump">996<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CurrentInsuranceDeductibles', window );">Insurance deductibles</a></td>
<td class="nump">102<span></span>
</td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="nump">47<span></span>
</td>
<td class="nump">46<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Total</a></td>
<td class="nump">$ 1,319<span></span>
</td>
<td class="nump">$ 1,455<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AccruedAuditFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current audit fees payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AccruedAuditFeesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CurrentInsuranceDeductibles">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current insurance deductibles payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CurrentInsuranceDeductibles</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_OtherAccruals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of accruals payable classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_OtherAccruals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInterestPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current interest payable. [Refer: Interest payable]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInterestPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousCurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousCurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735771632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Share capital and share premium (Table) (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesAuthorised', window );">Value of shares authorised</a></td>
<td class="nump">$ 2,200<span></span>
</td>
<td class="nump">$ 2,200<span></span>
</td>
<td class="nump">$ 2,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesAuthorised', window );">Value of shares authorised</a></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Number of shares authorised</a></td>
<td class="nump">500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesMember', window );">Class B Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesAuthorised', window );">Value of shares authorised</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Number of shares authorised</a></td>
<td class="nump">100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesAuthorised', window );">Value of shares authorised</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Number of shares authorised</a></td>
<td class="nump">100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ValueOfSharesAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of shares authorised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ValueOfSharesAuthorised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares authorised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesAuthorised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6736582096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Share Premium - Common Shares (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesIssuedAbstract', window );"><strong>USD</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31</a></td>
<td class="nump">$ 13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Issued during the year for share based compensation (note 13)</a></td>
<td class="nump">50<span></span>
</td>
<td class="nump">$ 30<span></span>
</td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issuance of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,282<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="nump">600<span></span>
</td>
<td class="nump">2,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31</a></td>
<td class="nump">$ 13<span></span>
</td>
<td class="nump">$ 13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common Shares issued and fully paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAbstract', window );"><strong>Number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">As at December 31</a></td>
<td class="nump">3,163,030<span></span>
</td>
<td class="nump">262,755<span></span>
</td>
<td class="nump">257,965<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions', window );">Issued during the year for share based compensation (note 13)</a></td>
<td class="nump">8,797<span></span>
</td>
<td class="nump">2,094<span></span>
</td>
<td class="nump">4,790<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity', window );">Issuance of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="nump">37,500<span></span>
</td>
<td class="nump">148,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">As at December 31</a></td>
<td class="nump">3,209,327<span></span>
</td>
<td class="nump">3,163,030<span></span>
</td>
<td class="nump">262,755<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesIssuedAbstract', window );"><strong>USD</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31</a></td>
<td class="nump">$ 13<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Issued during the year for share based compensation (note 13)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issuance of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31</a></td>
<td class="nump">$ 13<span></span>
</td>
<td class="nump">$ 13<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of ordinary shares issued through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedIssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of ordinary shares resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of ordinary shares issued resulting from share-based payment transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ValueOfSharesIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ValueOfSharesIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity, for which full payment has been received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssuedAndFullyPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6710384640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Share Premium - Preferred Shares (Table) (Details) - Series A Preferred Shares issued<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($) </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAbstract', window );"><strong>Number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">As at December 31,</a></td>
<td class="nump">2,567<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued', window );">Issued during the year</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StockRedeemedDuringPeriodShares', window );">Shares redeemed by the issuer</a></td>
<td class="num">(2,567)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">As at December 31,</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ValueOfSharesIssuedAbstract', window );"><strong>USD</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31 | $</a></td>
<td class="nump">$ 2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StockRedeemedDuringPeriodValue', window );">Shares redeemed by the issuer | $</a></td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">As at December 31 | $</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of preferred shares issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseInNumberOfPreferredSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StockRedeemedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of stock bought back by the entity at the redemption price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StockRedeemedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StockRedeemedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock bought back by the entity at the redemption price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StockRedeemedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ValueOfSharesIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ValueOfSharesIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6747833072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Share Premium (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2018</div></th>
<th class="th"><div>Feb. 10, 2017</div></th>
<th class="th"><div>Feb. 08, 2017</div></th>
<th class="th"><div>Oct. 19, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SharePremium', window );">Share premium</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 140,334<span></span>
</td>
<td class="nump">$ 139,684<span></span>
</td>
<td class="nump">$ 110,013<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600<span></span>
</td>
<td class="nump">9,653<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_WarrantsExpense', window );">Warrants expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_VotingRights', window );">Voting rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Holders of the Company&#8217;s common shares and Class B shares have equivalent economic rights, but holders of Company&#8217;s common shares are entitled to one vote per share and holders of the Company&#8217;s Class B shares are entitled to twenty votes per share. <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 36,868<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,497<span></span>
</td>
<td class="nump">4,399<span></span>
</td>
<td class="nump">3,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600<span></span>
</td>
<td class="nump">2,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember', window );">Firment Trading Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,688,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">623,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,524<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember', window );">Silaner Investments Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">311,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 280<span></span>
</td>
<td class="nump">$ 74<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember', window );">February 2017 Private Placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfWarrantsExercised', window );">Number of warrants exercised</a></td>
<td class="nump">37,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ProceedsFromWarrantExercises', window );">Proceeds from warrant exercises</a></td>
<td class="nump">$ 600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfWarrantsOutstanding', window );">Number of outstanding warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,052,321<span></span>
</td>
<td class="nump">3,089,821<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,052,321<span></span>
</td>
<td class="nump">3,089,821<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Issuance of common stock due to exercise of warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_October2017PrivatePlacementMember', window );">October 2017 Private Placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants', window );">Maximum proportion of owneship interest by a warrant holder after warrants exercises</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfWarrantsOutstanding', window );">Number of outstanding warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,250,000<span></span>
</td>
<td class="nump">1,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,250,000<span></span>
</td>
<td class="nump">1,250,000<span></span>
</td>
<td class="nump">1,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_October2017PrivatePlacementMember', window );">October 2017 Private Placement | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants', window );">Maximum proportion of owneship interest by a warrant holder after warrants exercises</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesOutstandingMember', window );">Class B common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember', window );">Series A Preferred Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ExercisePriceOfOutstandingWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exercise price of outstanding warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ExercisePriceOfOutstandingWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of ordinary shares resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseInNumberOfOrdinarySharesIssuedThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityDecreaseForgiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in line of credit facility from forgiveness by the holder of the line of credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityDecreaseForgiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum proportion of ownership interest held by a warrant holder after the exercise of the warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_MaximumProportionOfOwnershipInterestsHeldByInvestorsAfterExerciseOfWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfSharesCalledByWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares into which the warrants may be converted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfSharesCalledByWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfWarrantsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of warrants exercised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfWarrantsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfWarrantsOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of outstanding warrants that permit the holder the right to purchase equity securities from the issuer at a specified price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfWarrantsOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ProceedsFromWarrantExercises">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ProceedsFromWarrantExercises</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_VotingRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of voting rights of common stock. Includes eligibility to vote and votes per share owned.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_VotingRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_WarrantsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense related to the warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_WarrantsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SharePremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SharePremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_February2017PrivatePlacementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_October2017PrivatePlacementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_October2017PrivatePlacementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesOutstandingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_ClassBCommonSharesOutstandingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6736595360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loss per Share (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Loss per share [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity', window );">Loss attributable to common equity holders</a></td>
<td class="num">$ (3,568)<span></span>
</td>
<td class="num">$ (6,475)<span></span>
</td>
<td class="num">$ (9,825)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average number of shares for basic and diluted LPS</a></td>
<td class="nump">3,200,927<span></span>
</td>
<td class="nump">2,574,995<span></span>
</td>
<td class="nump">260,384<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to ordinary equity holders of the parent equity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 70<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721871392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loss per Share (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2018 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareLineItems', window );"><strong>Earnings per share [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares', window );">Dilutive effect of warrants on number of ordinary shares</a></td>
<td class="nump">4,302,321<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of dilutive potential ordinary shares that relate to the assumed exercise of the entity's share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735994352">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Long-Term Debt, net (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">$ 37,163<span></span>
</td>
<td class="nump">$ 41,660<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CurrentPortionOfLongTermBorrowingsGross', window );">Loan Balance - Current Portion</a></td>
<td class="num">(35,663)<span></span>
</td>
<td class="num">(41,660)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LongTermBorrowingsGross', window );">Loan Balance - Long-Term Portion</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount</a></td>
<td class="num">(295)<span></span>
</td>
<td class="num">(122)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount- Current Portion</a></td>
<td class="nump">295<span></span>
</td>
<td class="nump">122<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LongTermDebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount - Long-Term Portion</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Borrowings</a></td>
<td class="nump">36,868<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Total Borrowings - Current Portion</a></td>
<td class="num">(35,368)<span></span>
</td>
<td class="num">(41,538)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Total Borrowings - Long-Term Portion</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember', window );">(a) Devocean Maritime Ltd., Domina Maritime Ltd. &amp; Dulac Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">22,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount</a></td>
<td class="num">(46)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Borrowings</a></td>
<td class="nump">22,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_GlobusMaritimeLtdMember', window );">(c) Globus Maritime Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Borrowings</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember', window );">(d) Artful Shipholding S.A. &amp; Longevity Maritime Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">13,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentUnamortisedDiscount', window );">Unamortized Debt Discount</a></td>
<td class="num">(249)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Borrowings</a></td>
<td class="nump">$ 13,251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of debt discount, after accumulated amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CurrentPortionOfDebtInstrumentUnamortisedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CurrentPortionOfLongTermBorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of  long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CurrentPortionOfLongTermBorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentUnamortisedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentUnamortisedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LongTermBorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LongTermBorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LongTermDebtInstrumentUnamortisedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of debt discount, after accumulated amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LongTermDebtInstrumentUnamortisedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_DevoceanMaritimeLtdDominaMaritimeLtdDulacMaritimeSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_GlobusMaritimeLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_GlobusMaritimeLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ArtfulShipholdingSALongevityMaritimeLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743463152">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Long-Term Debt, net - Annual Loan Principal Payments (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">$ 37,163<span></span>
</td>
<td class="nump">$ 41,660<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative', window );">Loan Balance</a></td>
<td class="nump">37,863<span></span>
</td>
<td class="nump">41,660<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">22,163<span></span>
</td>
<td class="nump">24,937<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE | Tranche (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE | Tranche (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,343<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_FirmentShippingIncLoanAgreementMember', window );">Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative', window );">Loan Balance</a></td>
<td class="nump">2,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">7,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">23,934<span></span>
</td>
<td class="nump">12,403<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">22,163<span></span>
</td>
<td class="nump">2,774<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | DVB Bank SE | Tranche (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | DVB Bank SE | Tranche (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,249<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year | Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">3,971<span></span>
</td>
<td class="nump">29,257<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">22,163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | DVB Bank SE | Tranche (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | DVB Bank SE | Tranche (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative', window );">Loan Balance</a></td>
<td class="nump">2,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years | Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">1,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years | Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years | Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">1,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years | Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years | Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">6,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years | Macquarie Bank International Limited | Advance (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years | Macquarie Bank International Limited | Advance (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="nump">$ 3,972<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember', window );">Later than two years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember', window );">Later than two years | Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember', window );">Later than two years | DVB Bank SE | Tranche (A)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember', window );">Later than two years | DVB Bank SE | Tranche (B)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Loan Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of convertible debt, including the amount of the embedded derivative component.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ConvertibleDebtIncludingEmbeddedDerivative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_FirmentShippingIncLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_FirmentShippingIncLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_AdvanceAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_AdvanceAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_AdvanceBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_AdvanceBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=glbs_LaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6746281584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt, Net - Hamburg Commercial Bank AG Loan Agreement (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 03, 2015</div></th>
<th class="th"><div>Jul. 10, 2017</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Feb. 28, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,700<span></span>
</td>
<td class="nump">$ 280<span></span>
</td>
<td class="nump">$ 5,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,497<span></span>
</td>
<td class="nump">4,399<span></span>
</td>
<td class="nump">3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,868<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RestrictedCashAndCashEquivalents', window );">Pledged cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,350<span></span>
</td>
<td class="nump">210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of long-term borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,368<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 46<span></span>
</td>
<td class="nump">$ 2,756<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
<td class="nump">$ 2,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_CreditSuisseAGLoanAgreementMember', window );">Credit Suisse AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="nump">$ 29,405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio', window );">Total liabilities to market adjusted total assets ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MarketAdjustedNetWorth', window );">Market Adjusted Net Worth</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_UnrealizedCashAndCashEquivalents', window );">Cash and cash equivalents, unrealized amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,893<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CompensatingBalanceAmount', window );">Compensating Balance, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Interest periods of 3 months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsAdjustmentToInterestRateBasis', window );">Borrowings, adjustment to interest rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Interest periods of 1 month</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsAdjustmentToInterestRateBasis', window );">Borrowings, adjustment to interest rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Tranche A | Devocean Maritime Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,095<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsNumberOfPeriodicPayments', window );">Borrowings Number Of Periodic Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsFrequencyOfPeriodicPayment', window );">Borrowings Frequency Of Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPayment', window );">Periodic payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 239<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon Payment to be Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LoanPrincipalAmountDeferred', window );">Amount deferred to the last scheduled repayment date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Tranche B | Domina Maritime Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsNumberOfPeriodicPayments', window );">Borrowings Number Of Periodic Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsFrequencyOfPeriodicPayment', window );">Borrowings Frequency Of Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPayment', window );">Periodic payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon Payment to be Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LoanPrincipalAmountDeferred', window );">Amount deferred to the last scheduled repayment date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">920<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Tranche C | Dulac Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsNumberOfPeriodicPayments', window );">Borrowings Number Of Periodic Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsFrequencyOfPeriodicPayment', window );">Borrowings Frequency Of Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPayment', window );">Periodic payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon Payment to be Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LoanPrincipalAmountDeferred', window );">Amount deferred to the last scheduled repayment date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio', window );">Fair value of mortgaged vessels to loan outstanding balance ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CompensatingBalanceAmountPerVessel', window );">Compensating Balance, Amount per vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LiquidityToConsolidatedIndebtednessRatio', window );">Liquidity to indebtedness ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AmountOfEquityToBeRaised', window );">Amount of equity to be raised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MarketAdjustedNetWorth', window );">Market Adjusted Net Worth</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DeferralFeePercentage', window );">Deferral fee, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CompensatingBalanceAmount', window );">Compensating Balance, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember', window );">Hamburg Commercial Bank AG | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio', window );">Total liabilities to market adjusted total assets ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AmountOfEquityToBeRaised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of new equity that the company has to raise, as required by loan agreement covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AmountOfEquityToBeRaised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsFrequencyOfPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the frequency of periodic payments (monthly, quarterly, annual).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsFrequencyOfPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsNumberOfPeriodicPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of periodic payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsNumberOfPeriodicPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments including both interest and principal payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CompensatingBalanceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a specific compensating balance arrangement that is maintained, under an agreement for a bank loan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CompensatingBalanceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CompensatingBalanceAmountPerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a specific compensating balance arrangement that is maintained per vessel, under an agreement for a bank loan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CompensatingBalanceAmountPerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DeferralFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The deferral fee per annum, as a percentage of the additional amounts deferred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DeferralFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ratio of the aggregate fair market value of the mortgaged vessels to the loan outstanding balance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LiquidityToConsolidatedIndebtednessRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ratio of the company's liquidity to its consolidated indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LiquidityToConsolidatedIndebtednessRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LoanPrincipalAmountDeferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The loan principal amount deferred to the last scheduled repayment date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LoanPrincipalAmountDeferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_MarketAdjustedNetWorth">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The company's market adjusted net worth.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_MarketAdjustedNetWorth</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ratio of the company's total liabilities to its market adjusted total assets, as required by loan agreement covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_TotalLiabilitiesToMarketAdjustedTotalAssetsRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_UnrealizedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that the entity should have disclosed in its statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_UnrealizedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsAdjustmentToInterestRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment to the basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsAdjustmentToInterestRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_CreditSuisseAGLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_CreditSuisseAGLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_HamburgCommercialBankAGLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_PeriodOfInterestRatesAxis=glbs_InterestPeriodThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_PeriodOfInterestRatesAxis=glbs_InterestPeriodThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_PeriodOfInterestRatesAxis=glbs_InterestPeriodOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_PeriodOfInterestRatesAxis=glbs_InterestPeriodOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DevoceanMaritimeLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DevoceanMaritimeLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DominaMaritimeLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DominaMaritimeLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DulacMaritimeSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=glbs_DulacMaritimeSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6744639488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt, Net - DVB Loan Agreement and Macquarie Loan Agreement (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,700<span></span>
</td>
<td class="nump">$ 280<span></span>
</td>
<td class="nump">$ 5,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,497<span></span>
</td>
<td class="nump">$ 4,399<span></span>
</td>
<td class="nump">$ 3,100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="nump">$ 40,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE | Tranche A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="nump">$ 19,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE | Tranche B</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember', window );">DVB Bank SE | Tranche A and Tranche B</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited | Artful Advance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsNumberOfPeriodicPayments', window );">Borrowings Number Of Periodic Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsFrequencyOfPeriodicPayment', window );">Borrowings Frequency Of Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPayment', window );">Periodic payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon Payment to be Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited | Longevity Advance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsNumberOfPeriodicPayments', window );">Borrowings Number Of Periodic Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsFrequencyOfPeriodicPayment', window );">Borrowings Frequency Of Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPayment', window );">Periodic payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon Payment to be Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember', window );">Macquarie Bank International Limited | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio', window );">Fair value of mortgaged vessels to loan outstanding balance ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">160.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CompensatingBalanceAmountPerVessel', window );">Compensating Balance, Amount per vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsFrequencyOfPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the frequency of periodic payments (monthly, quarterly, annual).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsFrequencyOfPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsNumberOfPeriodicPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of periodic payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsNumberOfPeriodicPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments including both interest and principal payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsPeriodicPaymentTermsBalloonPaymentToBePaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CompensatingBalanceAmountPerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a specific compensating balance arrangement that is maintained per vessel, under an agreement for a bank loan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CompensatingBalanceAmountPerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ratio of the aggregate fair market value of the mortgaged vessels to the loan outstanding balance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_FairValueOfMortgagedVesselsToLoanOutstandingBalanceRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_DVBBankLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_TrancheAAndTrancheBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_TrancheAAndTrancheBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=glbs_MacquarieBankInternationalLimitedLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_ArtfulAdvanceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_ArtfulAdvanceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CreditFacilityAxis=glbs_LongevityAdvanceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CreditFacilityAxis=glbs_LongevityAdvanceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6745809904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt, Net - Firment Shipping Inc. and Silaner Investments Limited (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="1">11 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 10, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 08, 2017 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2018 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,497<span></span>
</td>
<td class="nump">$ 4,399<span></span>
</td>
<td class="nump">$ 3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,800<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,700<span></span>
</td>
<td class="nump">280<span></span>
</td>
<td class="nump">5,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Loss on derivative financial instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(131)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term borrowings, net of current portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,500<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty', window );">Proportion of ownership interests held by the controlling party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.30%<span></span>
</td>
<td class="nump">58.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 831<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 36,868<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember', window );">Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Line Of Credit Facility Drawndown Amounts Multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">November 19, 2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UndrawnBorrowingFacilities', window );">Undrawn borrowing facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsDefaultInterestRate', window );">Default Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Loss on derivative financial instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleConversionPrice', window );">Conversion price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleThresholdTradingDays', window );">Threshold trading days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentConvertibleConversionMultiplier', window );">Pricing period multiplied</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term borrowings, net of current portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember', window );">Silaner Investments Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Line Of Credit Facility Drawndown Amounts Multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">280<span></span>
</td>
<td class="nump">$ 74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">January 12, 2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">311,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember', window );">Firment Trading Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Loan Facility, Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,000<span></span>
</td>
<td class="nump">$ 8,000<span></span>
</td>
<td class="nump">$ 4,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples', window );">Line Of Credit Facility Drawndown Amounts Multiples</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="nump">$ 1,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Borrowings, maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">April 12, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_LineOfCreditFacilityDecreaseForgiveness', window );">Credit Facility, Decrease, Forgiveness</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued during period | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,688,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NumberOfSharesCalledByWarrants', window );">Number of shares called by warrants | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">623,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ExercisePriceOfOutstandingWarrants', window );">Warrants exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,524<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.97%<span></span>
</td>
<td class="nump">3.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum | Firment Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty', window );">Proportion of ownership interests held by the controlling party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsDefaultInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The default interest per annum above the regular interest charged, in case of failure to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsDefaultInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleConversionMultiplier">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The multiplier used in order to calculate the price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleConversionMultiplier</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentConvertibleThresholdTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold number of specified consecutive trading days immediately preceding the date on which the Conversion Notice was executed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentConvertibleThresholdTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ExercisePriceOfOutstandingWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exercise price of outstanding warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ExercisePriceOfOutstandingWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityDecreaseForgiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in line of credit facility from forgiveness by the holder of the line of credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityDecreaseForgiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityDrawndownAmountsMultiples">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The multiples of amounts that the company has the right to drawdown under the relevant credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityDrawndownAmountsMultiples</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NumberOfSharesCalledByWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares into which the warrants may be converted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NumberOfSharesCalledByWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ProportionOfOwnershipInterestsHeldByControllingParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interests held by the controlling party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ProportionOfOwnershipInterestsHeldByControllingParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UndrawnBorrowingFacilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments. [Refer: Capital commitments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UndrawnBorrowingFacilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentShippingIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_SilanerInvestmentsLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_FirmentTradingLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722260608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payment (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2"><div>Dec. 31, 2018</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Stock issued during the year (value) - Share based compensation</a></td>
<td class="nump">$ 50<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 30<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_NumberOfOrdinarySharesMember', window );">Number of common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued', window );">Stock issued during the year (shares) - Share based compensation</a></td>
<td class="nump">8,797<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,094<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,790<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_NumberOfOrdinarySharesMember', window );">Number of common shares | Non-executive directors payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued', window );">Stock issued during the year (shares) - Share based compensation</a></td>
<td class="nump">8,797<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,094<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">4,790<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember', window );">Share Premium</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Stock issued during the year (value) - Share based compensation</a></td>
<td class="nump">$ 50<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 30<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember', window );">Share Premium | Non-executive directors payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Stock issued during the year (value) - Share based compensation</a></td>
<td class="nump">$ 50<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 30<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of ordinary shares issued. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfOrdinarySharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_NumberOfOrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_NumberOfOrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_NonExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735542544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - Series A Preferred Shares - shares<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StockRedeemedDuringPeriodShares', window );">Shares redeemed by the issuer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,567<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember', window );">Chief Executive Officer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StockRedeemedDuringPeriodShares', window );">Shares redeemed by the issuer</a></td>
<td class="nump">2,567<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StockRedeemedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of stock bought back by the entity at the redemption price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StockRedeemedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ChiefExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>87
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6656141280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>Voyage Expenses and Vessel Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionExpense', window );">Commissions</a></td>
<td class="nump">$ 281<span></span>
</td>
<td class="nump">$ 241<span></span>
</td>
<td class="nump">$ 151<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FuelExpense', window );">Bunkers expenses</a></td>
<td class="nump">716<span></span>
</td>
<td class="nump">968<span></span>
</td>
<td class="nump">593<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_OtherVoyageExpense', window );">Other voyage expenses</a></td>
<td class="nump">191<span></span>
</td>
<td class="nump">143<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ServicesExpense', window );">Total</a></td>
<td class="nump">$ 1,188<span></span>
</td>
<td class="nump">$ 1,352<span></span>
</td>
<td class="nump">$ 954<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_OtherVoyageExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of voyage expense classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_OtherVoyageExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FuelExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from the consumption of fuel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FuelExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6743744192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>Voyage Expenses and Vessel Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Crew wages and related costs</a></td>
<td class="nump">$ 4,766<span></span>
</td>
<td class="nump">$ 4,645<span></span>
</td>
<td class="nump">$ 4,829<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InsuranceExpense', window );">Insurance</a></td>
<td class="nump">607<span></span>
</td>
<td class="nump">742<span></span>
</td>
<td class="nump">798<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepairsAndMaintenanceExpense', window );">Spares, repairs and maintenance</a></td>
<td class="nump">2,721<span></span>
</td>
<td class="nump">2,222<span></span>
</td>
<td class="nump">1,699<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RawMaterialsAndConsumablesUsed', window );">Lubricants</a></td>
<td class="nump">501<span></span>
</td>
<td class="nump">496<span></span>
</td>
<td class="nump">462<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StoresExpense', window );">Stores</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">783<span></span>
</td>
<td class="nump">633<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousOtherOperatingExpense', window );">Other</a></td>
<td class="nump">330<span></span>
</td>
<td class="nump">247<span></span>
</td>
<td class="nump">267<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_OperatingExpense1', window );">Total</a></td>
<td class="nump">$ 9,925<span></span>
</td>
<td class="nump">$ 9,135<span></span>
</td>
<td class="nump">$ 8,688<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_OperatingExpense1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_OperatingExpense1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StoresExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of stores expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StoresExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InsuranceExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from purchased insurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InsuranceExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousOtherOperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of miscellaneous other operating expenses. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousOtherOperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RawMaterialsAndConsumablesUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of raw materials and consumables used in the production process or in the rendering of services. [Refer: Current raw materials]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RawMaterialsAndConsumablesUsed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepairsAndMaintenanceExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses incurred for the day-to-day servicing of assets, which may include the cost of labour, consumables or small parts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepairsAndMaintenanceExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6722046192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>Voyage Expenses and Vessel Operating Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseDecreaseVoyageExpenses', window );">Voyage expenses decreased</a></td>
<td class="nump">$ 668<span></span>
</td>
<td class="nump">$ 540<span></span>
</td>
<td class="nump">$ 317<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseDecreaseVoyageExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in expenses arising from rendering of services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseDecreaseVoyageExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6738007680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Administrative Expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract', window );"><strong>Administrative Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_PersonnelExpense', window );">Personnel expenses</a></td>
<td class="nump">$ 778<span></span>
</td>
<td class="nump">$ 628<span></span>
</td>
<td class="nump">$ 1,040<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Audit fees</a></td>
<td class="nump">103<span></span>
</td>
<td class="nump">101<span></span>
</td>
<td class="nump">111<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TravelExpense', window );">Travelling expenses</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConsultingFeesExpense', window );">Consulting fees</a></td>
<td class="nump">76<span></span>
</td>
<td class="nump">54<span></span>
</td>
<td class="nump">28<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CommunicationExpense', window );">Communication</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StationeryExpense', window );">Stationery</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense', window );">Greek authorities tax (note 20)</a></td>
<td class="nump">118<span></span>
</td>
<td class="nump">116<span></span>
</td>
<td class="nump">264<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Other</a></td>
<td class="nump">265<span></span>
</td>
<td class="nump">309<span></span>
</td>
<td class="nump">626<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Total</a></td>
<td class="nump">$ 1,356<span></span>
</td>
<td class="nump">$ 1,224<span></span>
</td>
<td class="nump">$ 2,094<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ConsultingFeesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable for consulting fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ConsultingFeesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_PersonnelExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to administrative personnel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_PersonnelExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StationeryExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense for writing and other office materials.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StationeryExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemuneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CommunicationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from communication.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CommunicationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByNature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense exclusive of income tax expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseOtherThanIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TravelExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from travel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TravelExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6657079776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Interest Expense and Finance Costs (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestCostsAbstract', window );"><strong>Interest Expense and Finance Costs [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest payable on long-term borrowings</a></td>
<td class="nump">$ 2,004<span></span>
</td>
<td class="nump">$ 1,778<span></span>
</td>
<td class="nump">$ 2,430<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankAndSimilarCharges', window );">Bank charges</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AmortizationOfDebtDiscount', window );">Amortization of debt discount</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">84<span></span>
</td>
<td class="nump">128<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinanceCost', window );">Other finance expenses</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">325<span></span>
</td>
<td class="nump">85<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Total</a></td>
<td class="nump">$ 2,056<span></span>
</td>
<td class="nump">$ 2,221<span></span>
</td>
<td class="nump">$ 2,676<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AmortizationOfDebtDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in finance costs to amortize debt discount associated with the related debt instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AmortizationOfDebtDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankAndSimilarCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bank and similar charges recognised by the entity as an expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankAndSimilarCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestCostsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestCostsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of finance costs that the entity does not separately disclose in the same statement or note. [Refer: Finance costs]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721997632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Dividends (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DividendsPayableLineItems', window );"><strong>Dividends Payable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (14)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember', window );">Series A Preferred Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DividendsPayableLineItems', window );"><strong>Dividends Payable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_StockRedeemedDuringPeriodShares', window );">Shares redeemed by the issuer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,567<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DividendsPayableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DividendsPayableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_StockRedeemedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of stock bought back by the entity at the redemption price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_StockRedeemedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=glbs_SeriesaPreferredSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6742610432">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessor [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">$ 2,991<span></span>
</td>
<td class="nump">$ 1,548<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Within one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessor [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">$ 2,991<span></span>
</td>
<td class="nump">$ 1,548<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of future minimum lease payments receivable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2018-03-02&amp;anchor=para_56_a&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MinimumLeasePaymentsReceivableUnderNoncancellableOperatingLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R82.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735285328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments - Future minimum lease payments (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">$ 851<span></span>
</td>
<td class="nump">$ 1,044<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Within one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">142<span></span>
</td>
<td class="nump">149<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">After one year but not more than five years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">567<span></span>
</td>
<td class="nump">596<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">More than five years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease', window );">Total</a></td>
<td class="nump">$ 142<span></span>
</td>
<td class="nump">$ 299<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of future minimum lease payments payable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2018-03-02&amp;anchor=para_35_a&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R83.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6621593088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments (Details)<br></strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>&#8364; / $</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>&#8364; / $</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Euro: US dollar exchange rate | &#8364; / $</a></td>
<td class="nump">1.14<span></span>
</td>
<td class="nump">1.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember', window );">Cyberonica S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_MonthlyRentalExpense', window );">Monthly rental expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,900<span></span>
</td>
<td class="nump">&#8364; 10,360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions', window );">Rental expense | $</a></td>
<td class="nump">$ 147,000<span></span>
</td>
<td class="nump">$ 140,000<span></span>
</td>
<td class="nump">$ 138,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_MonthlyRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of monthly expense recognised on rental activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_MonthlyRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of leases where the entity was the lessee in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Paragraph 21<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=para_21_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeasesAsLesseeRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_CyberonicaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721996672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Income Tax [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense', window );">Greek authorities tax (note 20)</a></td>
<td class="nump">$ 118<span></span>
</td>
<td class="nump">$ 116<span></span>
</td>
<td class="nump">$ 264<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense exclusive of income tax expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseOtherThanIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R85.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6719488528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Interest rate risk (Table) (Details) - Interest rate risk<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems', window );"><strong>Disclosure of risk management strategy related to hedge accounting [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseInInterestRates', window );">Increase in Libor</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DecreaseInInterestRates', window );">Decrease in Libor</a></td>
<td class="num">(20)<span></span>
</td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit', window );">Effect on loss (Decrease in Libor)</a></td>
<td class="nump">$ 80<span></span>
</td>
<td class="nump">$ 86<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit', window );">Effect on loss (Increase in Libor)</a></td>
<td class="num">$ (60)<span></span>
</td>
<td class="num">$ (69)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DecreaseInInterestRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease in market interest rates expressed in basis points. One basis point is equivalent to one hundredth of a percent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DecreaseInInterestRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseInInterestRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase in market interest rates expressed in basis points. One basis point is equivalent to one hundredth of a percent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseInInterestRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the negative effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the positive effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R86.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6606447376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Foreign currency risk (Table) (Details) - Currency risk - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems', window );"><strong>Disclosure of risk management strategy related to hedge accounting [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_IncreaseInExchangeRates', window );">Increase in Euro exchange rate</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DecreaseInExchangeRates', window );">Decrease in Euro exchange rate</a></td>
<td class="num">(10.00%)<span></span>
</td>
<td class="num">(10.00%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit', window );">Effect on loss (Decrease in Euro exchange rate)</a></td>
<td class="nump">$ 284<span></span>
</td>
<td class="nump">$ 251<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit', window );">Effect on loss (Increase in Euro exchange rate)</a></td>
<td class="num">$ (284)<span></span>
</td>
<td class="num">$ (251)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DecreaseInExchangeRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease in market exchange rates expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DecreaseInExchangeRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_IncreaseInExchangeRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase in market exchange rates expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_IncreaseInExchangeRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the negative effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_SensitivityAnalysisForEachTypeOfMarketRiskNegativeEffectOnProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the positive effect on profit or loss as a result of the conduct of a sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss would have been affected by changes in the relevant risk variable that were reasonably possible at that date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_SensitivityAnalysisForEachTypeOfMarketRiskPositiveEffectOnProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R87.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6735726720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Concentration of credit risk (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 17,354<span></span>
</td>
<td class="nump">$ 13,852<span></span>
</td>
<td class="nump">$ 8,423<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererMember', window );">A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 3,679<span></span>
</td>
<td class="nump">$ 1,404<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererBMember', window );">B</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 2,873<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 890<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">17.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">11.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererCMember', window );">C</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,849<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">13.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererDMember', window );">D</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,459<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">11.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererEMember', window );">E</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,013<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=glbs_OtherMajorCharterersMember', window );">Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems', window );"><strong>Disclosure of credit risk exposure [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Revenue</a></td>
<td class="nump">$ 10,802<span></span>
</td>
<td class="nump">$ 9,140<span></span>
</td>
<td class="nump">$ 6,520<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">62.00%<span></span>
</td>
<td class="nump">66.00%<span></span>
</td>
<td class="nump">77.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCreditRiskExposureLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCreditRiskExposureLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfEntitysRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the entity's revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfEntitysRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_MajorChartererMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_MajorChartererBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_MajorChartererCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererDMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_MajorChartererDMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_MajorChartererEMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_MajorChartererEMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=glbs_OtherMajorCharterersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=glbs_OtherMajorCharterersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>R88.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6746929232">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Liquidity risk (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Long-term debt</a></td>
<td class="nump">$ 42,687<span></span>
</td>
<td class="nump">$ 44,419<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">1,319<span></span>
</td>
<td class="nump">1,455<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">6,433<span></span>
</td>
<td class="nump">4,258<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">50,439<span></span>
</td>
<td class="nump">50,132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanThreeMonthsMember', window );">Less than 3 months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Long-term debt</a></td>
<td class="nump">1,720<span></span>
</td>
<td class="nump">1,145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">1,319<span></span>
</td>
<td class="nump">1,455<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">6,433<span></span>
</td>
<td class="nump">4,258<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">9,472<span></span>
</td>
<td class="nump">6,858<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember', window );">3 to 12 months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Long-term debt</a></td>
<td class="nump">24,502<span></span>
</td>
<td class="nump">12,989<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">24,502<span></span>
</td>
<td class="nump">12,989<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Long-term debt</a></td>
<td class="nump">16,465<span></span>
</td>
<td class="nump">30,285<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">16,465<span></span>
</td>
<td class="nump">30,285<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">More than 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Long-term debt</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued liabilities and other payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R89.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6738301280">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Capital management 1 (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial risk management objectives and policies [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative', window );">Interest bearing loans</a></td>
<td class="nump">$ 37,863<span></span>
</td>
<td class="nump">$ 41,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash (including restricted cash)</a></td>
<td class="num">(1,396)<span></span>
</td>
<td class="num">(2,966)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NetDebtIncludingEmbeddedDerivative', window );">Net debt</a></td>
<td class="nump">36,467<span></span>
</td>
<td class="nump">38,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">41,050<span></span>
</td>
<td class="nump">43,968<span></span>
</td>
<td class="nump">$ 20,760<span></span>
</td>
<td class="nump">$ 30,535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_PropertyPlantAndEquipmentFairValueAdjustment', window );">Adjustment for the market value of vessels (charter-free)</a></td>
<td class="num">(27,500)<span></span>
</td>
<td class="num">(31,970)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdjustedBookCapitalisation', window );">Adjusted book capitalization</a></td>
<td class="nump">13,550<span></span>
</td>
<td class="nump">11,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_AdjustedBookCapiltaisationPlusNetDebt', window );">Adjusted book capitalization plus net debt</a></td>
<td class="nump">$ 50,017<span></span>
</td>
<td class="nump">$ 50,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio', window );">Ratio</a></td>
<td class="nump">73.00%<span></span>
</td>
<td class="nump">76.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdjustedBookCapiltaisationPlusNetDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjusted amount of assets less the amount of liabilities taking into consideration all required fair value adjustments plus the amount of net debt of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdjustedBookCapiltaisationPlusNetDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_AdjustedBookCapitalisation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjusted amount of assets less the amount of liabilities taking into consideration all required fair value adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_AdjustedBookCapitalisation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents including cash and cash equivalents restricted to withdrawal or usage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_ConvertibleDebtIncludingEmbeddedDerivative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of convertible debt, including the amount of the embedded derivative component.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_ConvertibleDebtIncludingEmbeddedDerivative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NetDebtIncludingEmbeddedDerivative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net debt including embedded derivative component.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NetDebtIncludingEmbeddedDerivative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net debt to adjusted book capitalisation plus net debt ratio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_PropertyPlantAndEquipmentFairValueAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of addition (reduction) to the property plant and equipment from carrying amount to fair value, when the fair value is materially different from the carrying amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_PropertyPlantAndEquipmentFairValueAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
<FILENAME>R90.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6721095408">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial risk management objectives and policies - Capital management 2 (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial risk management objectives and policies [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Debt in accordance with IFRS (long and short-term borrowings)</a></td>
<td class="nump">$ 36,868<span></span>
</td>
<td class="nump">$ 41,538<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_DebtInstrumentUnamortisedDiscount', window );">Add: Unamortized debt discount</a></td>
<td class="nump">295<span></span>
</td>
<td class="nump">122<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Interest bearing loans</a></td>
<td class="nump">37,163<span></span>
</td>
<td class="nump">41,660<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Less: Cash and bank balances and bank deposits (including restricted cash)</a></td>
<td class="nump">1,396<span></span>
</td>
<td class="nump">2,966<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDebt', window );">Net debt</a></td>
<td class="nump">$ 35,767<span></span>
</td>
<td class="nump">$ 38,694<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents including cash and cash equivalents restricted to withdrawal or usage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_DebtInstrumentUnamortisedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_DebtInstrumentUnamortisedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net debt of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R91.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6720182048">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial risk management objectives and policies (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsLineItems', window );"><strong>Disclosure of detailed information about financial instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsPercentageBearingFixedInterestRate', window );">Borrowings, Percentage Bearing Fixed Interest, Percentage Rate</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio', window );">Net debt to adjusted book capitalisation plus net debt ratio</a></td>
<td class="nump">73.00%<span></span>
</td>
<td class="nump">76.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsLineItems', window );"><strong>Disclosure of detailed information about financial instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio', window );">Net debt to adjusted book capitalisation plus net debt ratio</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsLineItems', window );"><strong>Disclosure of detailed information about financial instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio', window );">Net debt to adjusted book capitalisation plus net debt ratio</a></td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsPercentageBearingFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsPercentageBearingFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net debt to adjusted book capitalisation plus net debt ratio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_NetDebtToAdjustedBookCapitalisationPlusNetDebtRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R92.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6745744016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair values (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Financial Liabilities at fair value</a></td>
<td class="nump">$ 37,030<span></span>
</td>
<td class="nump">$ 41,219<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">831<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Long -term borrowings</a></td>
<td class="nump">37,163<span></span>
</td>
<td class="nump">41,660<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Long -term borrowings</a></td>
<td class="nump">50,439<span></span>
</td>
<td class="nump">50,132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Financial liabilities measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Financial Liabilities at fair value</a></td>
<td class="nump">831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember', window );">Financial liabilities not measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_glbs_BorrowingsGross', window );">Long -term borrowings</a></td>
<td class="nump">37,163<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Long -term borrowings</a></td>
<td class="nump">37,163<span></span>
</td>
<td class="nump">41,538<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Financial Liabilities at fair value</a></td>
<td class="nump">37,030<span></span>
</td>
<td class="nump">$ 41,219<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">$ 831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_glbs_BorrowingsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, before deduction of unamortized (discount) premium and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">glbs_BorrowingsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>glbs_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>105
<FILENAME>R93.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.1</span><table class="report" border="0" cellspacing="2" id="idp6629250624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Events after the reporting date (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 13, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems', window );"><strong>Disclosure of non-adjusting events after reporting period [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600,000<span></span>
</td>
<td class="nump">$ 9,653,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteIIMember', window );">Convertible Note</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems', window );"><strong>Disclosure of non-adjusting events after reporting period [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember', window );">Convertible Note</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems', window );"><strong>Disclosure of non-adjusting events after reporting period [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from issuance of share capital</a></td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share</a></td>
<td class="nump">$ 0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteIIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=glbs_ConvertibleNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>106
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
M4$L#!!0    (  N!?$X?(\\#P    !,"   +    7W)E;',O+G)E;'.MDD^+
MPD ,Q;]*F?L:5\'#8CUYZ6U9_ )Q)OU#.Y,A$[%^>X>];+=44/ 87O+>CT?V
M/S2@=AQ2V\54C'X(J32M:OP"2+8ECVG%D4)6:A:/FD=I(*+ML2'8K-<[D*F'
M.>RGGD7E2B.5^S3%":4A+<TXP)6E/S/WJVR;A5ND9T*YKCM+1[873T$7LF<;
M!I99-G\LCNVW<+ZT+/0:S>,*P).B0\5?UX^8 TBTH_0(:+L A#&^NQT:E8(C
M-R."?S]PN -02P,$%     @ "X%\3B?HAPZ"    L0   !    !D;V-0<F]P
M<R]A<' N>&UL38Y-"\(P$$3_2NG=;BGH06) L$?!D_>0;FP@R8;-"OGYIH(?
MMWF\81AU8\K(XK%T-8943OTJDH\ Q:X831F:3LTXXFBD(3^ G/,6+V2?$9/
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M7'_X781=,'9K_['Q65"V\.LNY!=02P,$%     @ "X%\3IE<G",0!@  G"<
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M.AQG0GS/]O:1I24RS^_Y"NM./&<?5I:P7<_/Y)Z,<B.[W?98??9/1VXCUZG
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MKG!_W?B<'4]-=\/;K,[IT?QKFB_GEZJ]\FZM[+/"E'5F2Z<RA[7[+)X2"+N
MGOB:F6L].7>ZH;Q:^[V[^'N_=OU.D<G-KNF:2-O#F]F:/.]::G7\-S;JWOKL
M J?GOUK_V ^^'<QK6INMS;]E^^:T=B/7V9M#>LF;S_;ZEQD'I%QG'/T_YLWD
M+=XI:?O8V;SN?YW=I6YL,;;22BG2'\,Q*_OC=?A'BS&,#X Q &X!(GP8(,<
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M2T,JCI;N/]L76_OX2.+WL7-U/WU&N^=^<,TRBD=IRC_S=]5.W^?Y%RV6,KX
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M[7[7IZ.QTT5;'<=CO_GY[/'N/U!+ P04    "  +@7Q.PQ]J=K<!  #3 P
M&    'AL+W=O<FMS:&5E=',O<VAE970V+GAM;'53[6Z<,!!\%<L/$-\!N48G
M0,JEJEJIE4ZIVO[VP0)6_$%M<Z1OW[4AA*3T#_8N,[.S]CH?C7UR'8 GSTIJ
M5]#.^_[(F*LZ4-S=F!XT_FF,5=QC:%OF>@N\CB0E6;+;'9CB0M,RC[FS+7,S
M>"DTG"UQ@U+<_CF!-&-!]_0E\2C:SH<$*_.>M_ =_(_^;#%BBTHM%&@GC"86
MFH+>[X^G+. CX*> T:WV)'1R,>8I!%_J@NZ"(9!0^:# <;G" T@9A-#&[UF3
M+B4#<;U_4?\4>\=>+MS!@Y&_1.V[@MY14D/#!^D?S?@9YGYN*9F;_PI7D @/
M3K!&9:2+7U(-SALUJZ 5Q9^G5>BXCM.?[##3M@G)3$@6PEVLPZ9"T?E'[GF9
M6S,2.YU]S\,5[X\)GDT5DO$HXC\T[S![+?=IFK-K$)HQIPF3K#$+@J'Z4B+9
M*G%*_J&GV38_W;281G[ZQN)_!+)-@2P*9&\$;M_UN(4YO"O"5H>JP+9QG!RI
MS*#C**^RR\3>)_%27N'3N'_CMA7:D8OQ>+7Q AIC/*"5W0W.4(<O; DD-#YL
M/^#>3G,V!=[T\Q-BRSLN_P)02P,$%     @ "X%\3MY &!*X 0  TP,  !@
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MW%Y/<S8%%OOY";'E'1?_ %!+ P04    "  +@7Q.223^0;4!  #3 P  &
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M/%YMO(#6& ]HY7"',]3C"UL#":T/V[>XM_.<S8$WP_*$V/J.JU]02P,$%
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M#VG&KD%HPIQ&3++$S CFU><2R5J)4_(??9>N\W>K%G>1O_M@\79=(%T52*-
M^D%@_ZG'-<S=IR)L<:@*3!/'R9(2>QU'>9&=)_8^B9?R#A_'_3LWC="67-#Y
MJXT74",Z\%8V-WZ&6O_"YD!"[<+VSN_-.&=CX+";GA";WW'Q#U!+ P04
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M@$9K!]Y*<N5GJ/,O; D$-"YL/_N]F>9L"ISNYR=$EG=<_@502P,$%     @
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M_K#5D-#Z<'R/9SO/V6QX,RQ?B*W_N/H#4$L#!!0    (  N!?$Y!97UON $
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MO[ Y$%"[L+WQ>S/.V1@XW4U/B,SON'@'4$L#!!0    (  N!?$X",/UXN $
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M"UL" 8T+VR]^;Z8YFP*G^_D)D>4=E_\ 4$L#!!0    (  N!?$YJJ(^;+ ,
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M/)MQ@$04![@:,&#U;,8!$A$<<%P/.+!Z%G( 100''-<##JR>A1Q $<$!Q_6
M ZMG(0=(E!,<<%P/.+!Z'G( 100''-<##JR>AQQ $<4!K@<<6#V?<8!$% >X
M'G!@]7S& 1)1'.!ZP('5\QD'0%10'.!ZP('5BQD'2$1Q@.L!!U8O9AP@$?7W
M%=<# :Q>A!Q $<&!P/5  *L7(0=01' @<#T0P.I%R $2+0@.!/&_'UA]$7(
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MIXT/4&OMP*>RN?(SU/H?-AL":A>.>W\VXYR-AM/=](7(_(^+_U!+ P04
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M;V)??ZA@/,!Q^_8#['A>QOX8N)QS[KG =3I*]:8; (/>!>]TAAMC^@,ANFA
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M["3NRK:4356E4B.M4K5]9NVQC<+% ;Q._KZ '==*W!=@ACEGS@Q#/FKS;#L
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MO"PXU,9-]W:NIL<\+8SLYSXER\^B^ !02P,$%     @ "X%\3NL[JYVV 0
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M'G>H@J#($\?SW(/(XTY) ^C\UH81^6\L)IGF:RP)5W@02/KB8"9JSD22KO!
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M-C_=HDZ4"I .G2=9QU+><N."P$FHZ4K.6=_K^X6@[7"-H?$NS?\!4$L#!!0
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M$0EM'5ENP:XP5J3MMP'$\1K8(-RX!L;4L1(35^+0#QPNL"*2_H7FP$)&7,A
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M\,28!.4Q>%*]K-44GPX$3E)O%VK/AUDV'"3KQC&-IF]%\1=02P,$%     @
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M"X%\=Q-C@FP]1'C(-B7D)LA74)ID^8T3O#A==]M_477NA8Y.TM@?Y8^SE=*
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MB&3GMR/R-/R*S)4[&-_@90"E_VDXFEQZ#G+OQIT*2G%HW*R=1,>1^H#=T/B
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MNG@$&#N,!<(P*QV$X58Z%"/D$+(&$#6$;  DP+TBX "*UE[T(W4U(&$#LFU
M]AH(0RO3#A*TD&,W<-(7)%L $W$06; -@#'?9P('K6#0B@3-N.5GI8B?P+=J
M8=UA5 \3!TI8 5.0CV,-8*P!B54%EHMU0%QP%F$G(702 B=VAR",PDXBZ"0B
M#4A;+%81Z7411(&%6D<D7\F4<&0<PV!B&@Q1G)BX8;&,K?)>4Y04L:4L&PH2
MS'?4 ?.QUOIT *3=?P9TO6P-:% O(G2H*7,H/Z,=&+H2@HI\S_AX\6%8OI@
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M=',O<VAE970V-RYX;6QM4^UNG# 0?!7+#Q!S!I+H!$BY1%$KM=(I5=O?/EC
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M(JN*36)K9D%B%"2V01+CMC_$5VY[AW%-,8%(4(@$@3#-DU@E*(N9L7P;6Q5
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M>RF5T"G]>TU]U-] PT$F]JK9C?1^U7T(= =*EOU'CC=\::W_ U!+ P04
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M3I0*D!873[*7I3QQQ@V!DU#+1*Y9/W?[C:#M<*2@\5S+_@%02P,$%     @
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M'#/3:\U$T-[^1L#X+RO_ U!+ P04    "  +@7Q.N2[W2>T!  #;!   &0
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M?FDF@T*MS/9.[X6;-V<H/OBG!$WO6?$?4$L#!!0    (  R!?$XHMDY$%P(
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M7N'V2FEITOD?3$%'<ZL?!IG<Z^8U,N]5=[7M!EJ5_;7=&_YWL/X'4$L#!!0
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MN'9JL3>NF=NVZL_.OF-D-]P+DNOE9/$74$L#!!0    (  R!?$Y?BE9%%P(
M  ,&   9    >&PO=V]R:W-H965T<R]S:&5E=#DP+GAM;'V4[8Z<(!B%;\5X
M 8NBHFX<D^XT39NTR62;MK^9F7=&LR@6F'%[]P5TC$72/_+A>0_/0:$:N7B3
M#8 *WCO6RUW8*#4\(R1/#714/O$!>OWFPD5'E1Z**Y*# 'JV11U#.(H(ZFC;
MAW5EYPZBKOA-L;:'@PCDK>NH^/,"C(^[, X?$Z_MM5%F M750*_P'=2/X2#T
M""TNY[:#7K:\#P1<=N&'^'F?&[T5_&QAE*M^8)(<.7\S@R_G71@9(&!P4L:!
MZN8.>V#,&&F,W[-GN"QI"M?]A_LGFUUG.5()>\Y^M6?5[,(B#,YPH3>F7OGX
M&>8\61C,X;_"'9B6&Q*]QHDS:9_!Z285[V87C=+1]ZEM>]N.L_^CS%^ YP*\
M%,3I?PN2N2!Q"M!$9J-^I(K6E>!C(*:/-5#S3\3/B=[,DYFT>V??Z;12S][K
MO"PK=#=&L^9ETN"5)DG_E>P]DFR1($VP8& O!K;UR:H>1['?(/$:)-8@71D4
M4>3DF#3$:OH)DA2D<*)L56F<)84?)O7"I!Z8V(&9--EJ&5QF#LI6$V/L!\F\
M(-D&)"_<KYMM%DGRF"0.RE:5QH1$?ACBA2&>7<$.#-DF3DKBL&Q%N"3$CY)[
M4?+MOI3N!\JW?TN6D]QA\:@*4J8.#%H=1W,]?J/BVO8R.'*E3[8]?Q?.%6C'
MZ$D':_2-O P87)3IYKHOIGMI&B@^S%<N6N[]^B]02P,$%     @ #(%\3BMB
M5 G[ 0  + 8  !D   !X;"]W;W)K<VAE971S+W-H965T.3$N>&ULC57MCILP
M$'P5Q .<^4J B"#=Y52U4BM%5_7ZVX$EH#.8VDZXOGUMPZ&$[%7Y$WOMV=D9
M.UZR@8LW60,HY[UEG=RZM5+]AA!9U-!2^<![Z/1.Q45+E0[%D<A> "UM4LM(
MX'EKTM*F<_/,KNU%GO&38DT'>^'(4]M2\?<)&!^VKN]^++PTQUJ9!9)G/3W"
M3U"_^KW0$9E9RJ:%3C:\<P146_?1W^Q\SR18Q&L#@[R8.\;*@?,W$WPKMZYG
M% &#0AD*JH<S[( QPZ1U_)E(W;FF2;R<?[!_L>:UF0.5L./L=U.J>NLFKE-"
M14],O?#A*TR&5JXSN?\.9V :;I3H&@5GTOXZQ4DJWDXL6DI+W\>QZ>PXC#OQ
M>DK#$X(I(9@3_.B_">&4$"X2R*C,6GVFBN:9X(,CQMOJJ?E3^)M0'V9A%NW9
MV3WM5NK5<YYX84;.AFC"/(V8X (31M>0'0)9S1"B%<PR E1&8//#*QD13A"B
M!*$EB*X(5@L?&&:],'*+B3P/%Q*A0B*D2+P0<HN)TP5FAV$27,@*%;)"A'Q"
ML$8)UO??28P2Q'<<!89)\2()6B2Y)? _N; 4)4COMZG[%?J&O#N,(J P7=8A
M%\_6]-$?5!R;3CH'KG0'L.^TXER!)O0>] 77NG7/ 8-*F6FLYV+L7V.@>#_U
M9C)_(/)_4$L#!!0    (  R!?$X1L166EP(  ',*   9    >&PO=V]R:W-H
M965T<R]S:&5E=#DR+GAM;)56T8Z;,!#\%<0''!B# R<2J4E5M5(K15>U?782
M)T$'F-I.<OW[VL9!"2PY[B789G9V=MG=.+]P\2J/C"GOK2IK.?>/2C7/02"W
M1U91^<0;5NLW>RXJJO16' +9"$9WUJ@J@R@,25#1HO87N3U;BT7.3ZHL:K86
MGCQ5%17_EJSDE[F/_.O!2W$X*G,0+/*&'MA/IGXU:Z%W0<>R*RI6RX+7GF#[
MN?\)/:^BT!A8Q.^"7>3-VC.A;#A_-9MON[D?&D6L9%ME**A^G-F*E:5ATCK^
M.E*_\VD,;]=7]B\V>!W,ADJVXN6?8J>.<S_UO1W;TU.I7OCE*W,!);[GHO_.
MSJS4<*-$^]CR4MI?;WN2BE>.14NIZ%O[+&K[O+1OR-4,-HB<0=09H/BA 78&
MN&<0M,ILJ)^IHHM<\(LGVJ_54%,4Z!GK9&[-H<V=?:>CE?KTO$@1RH.S(7*8
M98N);C XOH>L $C200*MH),1@3(B:X_O9$0P 08)L"6([PAP+XX60RRF;D7.
M0ASV0AFB8A2A#!83@V+B@1B2]9/:8I(;-RGN859#3 C+2$ 9"9"3WH=;)@,7
M>(9(+W.K(2I&A(R((: 8,D$,&;A)PAAG/3$0"N&1:IF!8F: F)%Z34&"='J]
M9B!!-J%>LX<E<N<$A7!WAQ,JT8&F^1F9(@@(AXQ0P!, ?6 $('@&(&@(]&O,
M@=ZK>  6HP2G(X+@.8"&@P 0-.QR4- 0]D@0/!$0-!)F(Q1P'R/R@>\$=Q^"
MVJ]?_ Z4O#.M'6SBN$9P-Z,4$#266;B?438]+1'<K-&49G4@\K!9@YM_?W,=
M^T'%H:BEM^%*7R3LW_V><\4T8?BD,WS4-\!N4[*],LN97HOV&M1N%&_<%2_H
M[IF+_U!+ P04    "  ,@7Q.HPH6/%X"  "9!P  &0   'AL+W=O<FMS:&5E
M=',O<VAE970Y,RYX;6R-5>V2FC 4?16&!S#A4W20F=6UT\ZT,\YVMOT=,0JS
M@= DRO;MFX0L(F2M_I DG'/NN>$F-VTI>^,%QL)YKTC-5VXA1+,$@.<%KA"?
MT0;7\LV1L@H).64GP!N&T4&3*@)\"&-0H;)VLU2O[5B6TK,@98UWS.'GJD+L
M[QH3VJY<S_U8>"E/A5 +($L;=,(_L7AM=DS.0*]R*"M<\Y+6#L/'E?OD+;>>
M)FC$KQ*W?#!V5"I[2M_4Y-MAY4+E"!.<"R6!Y.."-Y@0I21]_#&B;A]3$8?C
M#_4O.GF9S!YQO*'D=WD0Q<I-7.> C^A,Q MMOV*34.0Z)OOO^(*)A"LG,D9.
M"=?_3G[F@E9&15JIT'OW+&O];+LW<\_0[ 3?$/R>(&/?(P2&$%P)\5U": CA
ME1#>)42&$(T(H,M=;^8S$BA+&6T=UM5#@U39><M(?JY<+>JOH]_)_>1R]9(E
MWB(%%R5D,.L.XP\P03S";*88KT< Z:"WX=MLK/T)/?'A*,04$X2WD&<+)+J%
M;"V0V.XTL&Y8H/G!C=-/4@VM J$6"(<[Y8_RV'286&-JC8FA^HW2G<(6<11,
M<-LI#MH=1U;'T<1Q"'V[0&P5B!_?L[E58#YUD'BC*IUBYE%B#Y)8@R2/I[FP
M"BP>3].#]M,(_U\<:P,:?LX(WI;';:Q/3KXWB16%<!RK R7#TIE!&(XB@<%U
M4V%VTG<_=W)ZKH4Z;(/5OK\\^>JZ&JUO5-_1U]A5IFM:/Q [E35W]E3(RU!?
M64=*!98NX4Q6:"'[9#\A^"C4<"['K&L6W430QC1"T'?C[!]02P,$%     @
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M1<NU_5#$>EMI:SGMH'TU'^&6%,D*3V<5E3>-Q<)G3('Q!X31+=SREGO NW\
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M ON 6P<AOCH<TB@#&N5M#J#F4=!*%M^B5:,A,[R-@.("]]A5 HN),\357D<
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M&'!QB$"4[9'_BC+3XR$6SB5];6-QSX-+T9-6UA#Y%D"^E^C;UQJ4T!^,60K
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MCWQF-8]"4QDE@Q,RZ"R^SJM$(S_PAF &D)IJG)F8IY,9$%,)8[+:Y04-G&L
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M869).*9E8S!/6@I >5Z AAC UUD.2W(817:X46:)3G()]9,JK%ONZJ%>!W1
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M?S-P_<X HE%]'^N]WTCJT+[J[94%QEP(!"F\*>W"1;B4;K8K*QPT[J70U+)
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M?3B9A8OI)!@$KWFH6@4.VW-+=&'/&R)5@$9H")XM^D!)VPN=P#Q3+%[T[?/
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MAKFN,4E',"?FA!]:I5?S7J/SN7*-4VV]9[SO- G5&;6;U#*\I60XTH6D P
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MV;7:Y45<87H1#QC)MF8  W,2IW-=\[BFT;C*9%SS>%RE'5=0GM44,8".(S[
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MN0'6'79#UYDI<V<!Q,8P-801KZZ#LY+,P?1Y/D6<H<E%&39WVSHXV, 0,_@
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MW;-)3[AHE@CR$<Z1I(UQJ%NFJLIO"8$ERJ_L\"58#GO>EPS2&4#4RHK!!D8
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M%\B==7:IKW%G@Z2ZH=<2C_09AO]\_)0/1O?\O1QY>N)I,KE3-$LN*DS)6'3
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M#0&@3>"<7BSH+W2,U2+'Y=([Z1LZP?8S>K[*)6.GE-JAO(><'"K"N8Q$5+0
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MK4'/=2TX_<?I74UR>,)SW?""IA5_UL_&^%U:3L"=8@^52,=AE]:!ZA%E,$8
M0Q8O1@\*GL]ITN=#IT8>#3MGH  >33KCOOOO7V/?VS)>4)!T"&M/&16QV,+C
M[]Y?H_AU.Q,G?FYE1DX5FSC#;MCM#,:I"H4%$SZ ]?@:N>';#+S<LU_"SB-"
M:C?8=\"Y+NKT+X:''M[O3'LN0T"7A-)8U^@>S3NS.GG7U'\O[Q^^RSJ=^GTX
M=)RV[Q1\^+-;8O!TLI\M;*7'QP+]%YR335XH>E^+=ZDWH#;Z9\Y\<7_IG_?D
M+LP>."/J97_B1&<P[(R'X^*=T]$O-#[_GE-+C@;.GAK"B>Z$ OXR .GS*RO/
MA6-I?+53H'JNO2[8GV!VN<<'C:^F1]UX^GW\BWLT]^J3AOV;$[[+Y1+RN)&<
MWX/W4/'=+/>S?3[<^=SG+:IWC4W"X0]'"/C-Z $FM($,&E^W S[-A -21!WY
MWY#"D4B4[GUFE)9$X+ SDJ/=5+>4&@]P.\^<AO219<W1 HX/@)B"#/ZIO+_9
MKM'*O8?+#+8*]/_RC\7WG& ,\OF ,?;E]'2_J@8D$6:4SKI^Q'UZ='GL__SJ
M& 8_D6UT4HS'$_=/WQEZIY.!T_"[_2Y:VJ"[R7?N*[!/NOT>2H)\W#L=T<?]
M_,<#B:VM*XJ_GV#+9V=GV&*_&)Z>]43=YP[1BX>HN-"M/AB=CMT7_QJI&+5(
M!<9BOX!8W+2*Q.N_O*(_IPL,#N#I'2VP_ID6> SZGS/6QNZ.Z8)_Y\R94F[J
MNX-H^4>H1_8G[D ;T>)GU@S^QZOD+J_!B)MU_SX;R'F3-]%>H<['F6V'W?'_
M 5<[#L6K3M/ >/"?)QD(]':IA?.S).5!FA->2#_F/=XB/^[T]"KI.6R(5A]2
M\"3\]$-0&#LL:1):/O,E'T;,962>0&#I(T/^YZ(7WQK-Y[2021K]7I,D=LA@
MQR2-PB>?,TFCSYVDX>\Q26(0[I*B8?ADXG!</8'2^4:+JKM=*H%&Q7'IMX<I
MT]RV%FR7JL< C[PX5-6&(\RM P:E^LYZ[)\Y"](I2^(2T[>,W,,3IQ:=3P;L
M!GJ,^M&;N)^Z$\8XQIQ!.@;/T'F_F)R?R0QX)-L+C0&HT3]!LA\G^U*(@L(0
M;IF&L%C#LW/PA?8GQL4U[(Z*T5F_&$W&Q?4#R$^G:"HS[PYH=Y^Z^\Y=G^X(
MG4RLL_,<'*T3]YIAO[C> !R@Z-&=.!X4PX',V,!MIOZ9Z[4S&&F&)L[,.'?_
M[@W.W;$T=+.5^,!F@-V&)%.4V&?*S($S^MXM/=086ICU!]=M'U:S>]8M+KTW
ML><NJ9X;?Z^'5]PCH_WUA^>%NW30RMDN*'4??C4:%DX@7'L@@-NE9,1/P/WA
M+KQK @9 D+Z/_R.>=G9D$;RY_(T=$GW0B2$V@ Z;,Y[L_M"]N3MQG38NRO,A
M1D_.^'A+'>+L/7UCBA1]ST6*KE">ONB\Z_LE2PQXP;7"W8VWT/KH?>QU8%6<
MGN#D"I4.2C6O(0;@E$,G=W%Y8F3HT_IS3N5S)FW/K0)-F91CTK5SQ[\3S[%&
M.$^[YT/< [ 3AJ/4Y8W'"7/[-9G!WU,Y1<QW<&<TI4AKG2%##VF8R(D5@J8D
MRLG>;R'\1/^5\*X >L15Z3O[O@=VVME8AFD^V:OSHL9^;E=Z[BSJ.=6/ZAWJ
MQ\*=Z&F];N$H(. -.)_.W='S0^Y+:+ _D8#0^+R'VS>5>\_U@1 D WU17EG.
M'5TM(!NF>7'?!A15T-I^D_*6F=^^/7K-A< QPXS2Z1]6<Q"H-YH[@7!#G,>O
MG$7E]@5$X8_ -CYQ*K'3=7%Z@^\F_%TJLVZ/5O./ GN?/AW0ZRNM&XO#S77P
M?_:Z7Q='_?&9>S_\T?V)>L=?G/?DB_,T].5.S6FUW*QU_UH6/?2,'2!R7]-[
MOZ:CYNOBLABX/>R,B][7$+>!\\1U XR'5VX+C$?N6!_1W\<3<$M_75P1X*$S
M!O-D0-^]YL_.SB?X#/SMC9HA3MQZKIW^UWS"]+J=<==9DNX#=^F=0<#O:V<^
MGKN5&;F723S-'=30&]>='@3,^_3G<>>L/Z _)MZ-^=^W\QFX@O9>O/]H.Y+?
M4>D;MYL&@DD?@"KK"35[\-=SWF=^\\DG-)*HG*H[K_N@ 3A#V0UIV''Z D3U
MS_J=8CCV,;P=\4**M,G\PI\_(&VI/C!T%\* 'Z _B[)QYJQX__HS=P>C NN>
M<3?O_R &2F&UM#R4ST/C"LB:X,U1[<?$=\*\?M^74P)&!KC2HF6U1E]LM1#:
MY&Z#L;M.NYW^&!?KK'/FIGSOM8)XZ(GND?-XK<Z<)3_F!^C/' QW8C].7NZ6
MJC?H9T!Q%,[SY_9>.^!2*E;= $Q'*A+^0VKW8B(7F&_8(<G:E]^(S1;C1PV"
M-F;HR,/!\4IY8LKX7ZOJ@3PUT(N$C%L2R<IB+?P30SRSQMVO3YLT*[V2;MQ:
M^QJP@U$''%7L#T%(WY$G.EV'2,)C0*D,)H!2<4L":!6 -Z&8#& CC8J!4]^=
M1OF&ILFUVG6&X=F@ S833;360LQ-FY"8''$YNA.  </;T*OF_N#&-!EUCXO6
M10.W]SF<U4Z#&;<_"L37Z 3&04#LT4V5^\]PTB]^QLD?N1-^Y([GW*+%5/]H
M*97"+84_1QH(;A[23:0SK?U@;X%=75Y<G>\R*+],<L&9!V)%VLR-T/WJ%9V?
M-;'H&M)@D"'DB(D((6F%"0B/HRP.Z *#W!5:#OC\)9Q:ODP4,\5<-,GD:V+*
M3HA$,5WF"%1^XAGVX$2O_&N$@J,%ES/W'AO=B93\R3E&##C&P?+.(09!TZ+O
ME:L3U_Z36861I[IU9^#&*'!;F%UQ[NQNW17-#!<M9D(VYWU/O2RBT#-M':&0
MKK8UHI?=BOYR_?HXL'_BQ =.<I:,9$D 3CV\O,!9XKRF;)[7[?D?=0%H,-3!
MW'_EG_P;6G*&X&9S;<16)(N$L_**4=$INNCK\W_FKW_'R1R]V%!YKYS '_JH
M/O$?^(O&/(7W<9["'SE/X6V2I^!.Z==<ECINKB6O(*6YL95$%;LZ3RS=/S3E
M.<3/Q9C]/#J2,B#VVE]!VL-I,G?YT''#6X-DC+2E*%,B?B!*G$A^GPE6I[/C
MLRARS6M21=)X&N[.M2T9%MFV->$B<?OE(]_Q8T'V1>X-/ADC%Q#.1\_342PV
M90K#B3,WL@/<-KS]P/TE^PKQ$B84$#<[<0-&A?\-F KQM[UNZ]<_3=W5SJ,9
MY]O'1_I="@&T/-([V]D*RUQ#*V\D8.$A-W]#@D&H45+_[_CQGZ&R6%TQ^*I^
M<.=D!WRN\"EJ\S"/\8\2C),IJ].V7IA!":U> I+3D%M<^I(Q[]51U'0D]EO7
M8M#Z[;#UVQ\@BN1488R= F[KZ*OCKXIO&T0&GY;+FY_.;+-3L,)PP1J><1M"
MGQDU/./.LYWOLL_LTTY3?^PSYPW/9%>UW&-5VV3QKZLUI8&P50H*]'2>).&'
M55YGJ^T-GGA)"9:DSW*I<X!'[(DZ%00OX#[H=DVUPY-F7Z.I^6#Y8Y?EAF]A
MA!5HS5JA@608'QH(E9*0(I-BXA;]?ZKD:K(.:!6$LZ2YY:D'F3W!P+FW9D)6
M"39*F."@'TDX(_[1+\O9NORT]&JBTR.GK&*FMZ6'TB42F4E(+H*$Y/@7?_*5
M6$PJL&)O@9//;, ,!U3'JL-QZV, @W^=7!%!<G'*=G$V3G[RQB;\)I>I)O\V
M_DQH&(O_P/QJ>ZC\8L?TEDB3WC4/*3NB!.-9<_!_GJX1W87$+ M.Q>0T4BB]
MOW#_633?&EGH5R(TN0#5'X*LGGLLP1L_DN$43I<3OE_=G@#K5)Z:"-.;*3&;
M-C_S*R/5*_ID'AX63TC6B7X'+9:67'_E$M"9_^W?_@UNU/C;#W#T".LG-)1L
M3FB\-\QV[T;+'8=E07RG:F6L3V_N &@']U8S,BO9@GL_R<E:R>E15W!?Y;9&
M_SR_,23MR]TTY4-V&\HYYN3N:&8#8;-<%AV#[ W)A&\Y(W:,E$E2-;,Q/+<9
MU-W*#-KNA_R[&O8%\6@Y"]79A$])(WUVK0_9!9_ZK ]/Y#X.# '6:=PF=0/_
M(%Z(5C4HVPE.[<YWD).\G]U[\BL?W.OO P:-Q@)TR2GF=("//&?M349>O+U:
M;\Y@?\\9[&B=>44BK(CU#:&OWBCZZK6BKSYC>0-OR<;V4*1W':79M^FN#1U,
MWTI??!/FP[_\A*5]^8RY2AM+;)B69/C#!]=H^O5:S;=QNPW?_N/OJYM3B#*W
M64_X3'<</.-O^OQ]CU?@#HOK<OOQE#U5O>&;7W[&>,)@>/9=\N2/JT>U%<<[
M+=2<U;C[R='>3[;W]?)AK7UMLB-M:X.&9YK G,A@QZ84%_Q! !F5B/IGPYPX
MZ]%4^_ U'R3_=4>[<7-G9Z>#5,$\'Y^.TD\C*%NC?9J_5Y'CE^[OU(EC2R)#
M&*7]U4Q*GYD:)% G@JN;QNY</;GU6 'T+N^[A%V&Y&I(_][8Y[9O?UEB8B>F
ML30\HF?L-R&U2,/C$G>?1L=F$PO*'RYO;S$R!W<QV]1N<OT)>_7FIR;=_@,S
M)S:X12/ 0J?X@6LR>7MR6CZX;U-Q2W[Z&@W1&3"4"<+Z'A;Z(>, 27_,BF('
MX(90D!NJ@Z='NX5H<S8@4SHV;;+$0>@,U@4Y/C29L^FW?Y4'- 64F-G;C*H?
M./4"Z:DRY]!\ 8@(/-R2X<V=40.E>$UQX89UTP1.:FK<N$US"OIYSA!]LW(J
M2!S<R>VIUR60=$[WV<7NBF#W.OJ)^TG\8)3KR6NN:*IC^#EKZV=^:9S%NQ?J
MPYW[$.(2RBX*I5C3@XA<("QE+-#SS*6=S:/Z9_$#H2R3PSKK#7"W^AK7%>.&
M[S&L6A7O@?,^$SANI02YMEF8/@+Y?L5$?R^EKL[PY]4LX#PK;Z!T(I"45VO8
MW6"M;R*FCS85ML%)M9N\I=5/T7 <:VSX$D^M9%<F##Q-)O$_BS_F"HPV/]Y$
M1M21XA'>F>U+@29#-*;PGCT(?_(BO=A;%*\"=IJW5)+F^<*88Z%I%8*=%#2M
M(SN\@YR=^M'=ILZ\T**W$*IDF%3>U='+J6WJE91VW*9;9,?<RY[Q\O/;!?"[
M;L%GRZN;NR<FV3/JK2]*F^$6^L,'&-E[YIW6JLSIX1NP_\^83%T]RIMJ>4*X
M\04!)L4]ZK8Y?9'.8%II:/NP+N_+W_(KVJC8O'?W7^97*='0<^35)]S$WP0D
M0\F!2*E,Z>VTDU;H.9W<S1Z4,:1G6C+(%PAZQG8YA&_H.6.+28::OO=<0_G9
M$=:A5$PRY$,-$\RCR:JY&GHD#)W-"&P?_+>:R;@L?G$'G#NY#KG/D8"<J'E"
MGIVV^_HOXI*3%$DEZTE5M!;D0Z*K-[>3B74DK\J1%F5V4)!\F5^+9MHGQ7*P
M;?)\P71/);(8<YLDPO8Y!#BYQG(\./L^U\:7TR &;51*NX3C\)5*>')RB[63
M56=_5_VPU7N5$M?LM[H-1G&>F&?G2\%$.JC%QA^T<:.]S$%E_9>)Q1LX35N]
MI<EA;)!,R9?&!9 U'OZR0AN8RH]'7^:!AW]BUI^&/(-I4NM0SC'Q-4)9&E/$
M0RL%4!^XM+I_R8X71,@+2-A[A /"AY"Q7GI[IZ,NQHUN/KF_/6&[!@R6@BY;
M_#M[NF:>X?UI_LFG^!WI+12X*?EY?;RE:8-2:^R(D\L5/+Z?+T <=P^)4SGP
M*6-1<>TI+2N7*DF&F_3H['0R2>R!]FZ"!X1ZEE@7N<9$D*9M=W;C$9THV\+W
M=6WXOIZEM>]-YI7(Z?,YO':-IBDR]1J: .-:ZG0927;]]1U8K9W\@;<I/\W-
MM&!?U&MD .]M*F? "W82$TWM>#HAG$J=_@U$8WL_N+-+S5QF>_0OICO;]?WN
M&<K\8F<O7HYC+6FY@5\M>>XS"-;VD7=E%T,!>J^D3^_%,/Z,#2$L2]=OW"%I
MB)7V?/!5\N!>I%W_M"1=G]M"VH<?5YL"7(EK2DZ5_/\]'W-M[X]I:FYC[ZD]
MN(F]!^Q^M!>\KOGGG[^:+]=V.NQWF7:IW'+PSLVG51Y&=NCO#Y*,9S2^M\B\
M7-N?/ZG["MDSVOU\Z?L7O+1U!GW#N;?> 8AXEV3NV\1SA?. ]@]=YP.:?M&E
M_H+O;5]MTW3FS;>K[7KW<N_;QK/7^X 7'+S@![3]LBO^!5_<NN2FY=Q[E4'H
M!9IX[H(?T/ZAZWU TR^ZW%_PO?L=YWL=/I]](#]/(WC>K1_9'3^BW='"SXJV
MR*52T1QN>HQVIQYV!WFT^9^WBV8W*W[9A%-''VQ_G/\RA VVX/T(-W:]A8RM
MW%K"U#P'S>8-WX[WE6&4/9NY\N[MJY]^SIO00?GRE9"D*'4(,=%PB#:;TCK*
MHJ)^H':4#P6DY*_.+$\P\HVP_DZQ76():? XY($A'LCMIHK=)9T&7$R+@/[3
MD "B]Q97=="016&GOO0L,YO5/@LQR,W5P5WK4=?2QGL'-B[;_!(.@+TH!(S'
MA=W#/]TR?F(^53]#RZ^^7R.W]/0I]\/X=W >N^&GZ5'ZPX?\#YTP+" -7WB5
MB=[Z?29.9Y=3>*@S43(*0.5RL4C<J #WNM)*N@LHL5V[R9UMP7'H:;!S0,N]
M%ND5+-(>[ I[-78%C>UV;+6VU8 5#+->P&GXL80,&>%;<A.$E.,VJ, \./D3
MIM?/0D#;=C\ZGNF%R5FHO'6X90'S7<T OIM_.;<'U1')<\[%[<M<@(42OMPD
MW5:N*ZX/0"7H!A\_US\]/W"G-D0E1MF9R5_1<,-'=S&<NU[M:;RH=\0Y3:9^
M;X],_:9GC :RGT_Q<K_'7NW9&LY&XX_VT0Z?ZY\DCS KEBV'3W_PS#=XKW+#
M2_9LIV'']X99Z%U>#//(8V) : 24!\)X.&1H!^-3>D0L*[B>8GY$3!G C(%+
MSACXH2EC( ZD96*3HV3"!J?CC";%O+=[VES-505>(-?/K2794=/5DK'-&AH,
M"[46&,)C7'Y;8.P:L3CS/#+H"*^18ZGGE,$')4[D?,K386^EW[S :]VB[6"_
MCQOZ6R^9H;_UTTD+\"H'O^1?57SA<]_[W'H&>^R)>D\4U4F#  7T-(EF<C>O
M;DTBZ4^(X$ZB2H=5+#@IXN>?OZU-"8)$'XZJ$,3?9PL1?/;(&JL4?,886TH4
MQ,\J"C:1G/82!9EC)<<]!5/VXHM_>.Y!5#Q"R X2M:6]_L%SUB(M;I"\LQ&_
MG"EPD!-G+6B0KHG4-8B_V5'@(!62/2L5/&>&]BU#D!JZO@9!QG1IKD20W]=Q
M.8)4'R!ZF>?(G__M>Q[CWU#1>IO5"]*R!I^OO\CHJ(0 XO3#R@8 -W/*7.TN
MDU:ZK;"(0%O7G;[;5K[@7S^TJIW5[H Z"(FBNL<SP:HV(L(RR?><*N]T_P3.
MF\O ;WG\S7:]NG!S7,Q6BP4PG/]&9"[DM?MGT?+3,/,Z!RWF!+$/<(X<SD!R
M<$F(DR+(G*7?Y40J\]@ATA7W!^^&ZN.3WJI.1;L#'A3)J0&Q:Q,S)=UQ?<"*
M$9E%;7\@*OQPE/P@$:OX%TD?4M:*9RQ(MK1%=DVN@B?VORA\KT&40_E-+/.L
M86[G:G<;1]3(SOEL;_6@Y=CCY\]9F];:'B]U$MLVW4E!G^\B$EUN4TX)]1ZB
M\Q%YQ)#\)OMTKYM=Z<1%UL]F6B;>KEXVJ-/+_O@J>2P;Y4C2A1(O7R^;)3_,
M?SK,)J0_0RC".B8O?"''+-KM$&%;"R.C!ILB%LEODW(<B6\IJ,Z13+TIUM%\
MKS<\\*RMF-3/*'HOH3X'!2<22=U1<2+QZC"U?B*Y& E(S:9GEIS(-Y0O(G'(
MLV&AA^38R09SLUMW]&*;+;/L_<]BFON,F@[I5+85=<CMN)>IYO#Y\]J26[%G
M%D.^$$(KYX6)FYJKZA7OO^_GO[D7R;8,'LGQHV0%[,=<+9- SNM<09-L&*\A
M<I$/7#0$V](2&B]P361+;L WC+EH6P,O*>]L_KDMSI"[9(I=3H5#RFGL]]OF
MZA'IOL(J%?F/D_C7FT?*][\E3!.6F^8:,Q!GSRU/NMB&NKQ]L:#D%@DB>J/L
MN_U[F7HGOV[?UO7F#_\'4$L#!!0    (  R!?$XCSRM#;@(  %H-   -
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M5I7VO:A5BWON(ZKK/N)ENJQ7< )X4UF,1-J$62?^9GBNMDWLNITK(TZ@=FW
M2,EDP&P3:&]3)4Z*HEDZS+%\EAY@1T=99,"L$> R2VC[5UKZ$0Q<7%3),<:D
M/#)@%LGM7!H%W<I"PXAMW>_Y(]  *KVL,"9ED@&S2JX:"U<8"N?I,!6EC@&S
M.ZZ:^N'#G3*5.%.3]KWX'O8IE# &S,987T60F^]^_9V,T2A-#)@]<=\\RP<E
MSI_@/>SONV+=+8OK13 L&%"B&#";XF3JPHUMW9!@M</%(VE*&A&[-"">*=MN
MP'P9W2BZ+N!^;C F)9*(621G>J6GJIX&=2,C"'\&:2',JKH(=1M1LHC8,T=5
MZ=;K%B-18HB8Q7!9%TVEQ)U\PD24 R)F!ZP;MP9-W6C[4_PE:^A&?#"_GOQ0
M!<:DI! Q2^%":B/N9;G$FHHH%T3,+CA?K<=Q,^@QQ-U<P;A\T1AW%SBEXH%Y
M1'DA8O;".HE==R>Q?R*,27DA8O;"-C N<*IUX0PZE0!S2/EAR.R';60LW .%
M(B,<##$I/PR9_1"$QD<<&J$)A)B4-8;,UL"Q4?QQYX*&?8?AR DK9GN@_-C)
M1FEDR*P1'"1=:VQ\_)$^2 (LQJ3<,F1VRR:ME2BM;7'#9DBY9<CLEC"MR3"M
MA9B4<(;,PO%I#8;R@./HNMHD)9HALVA>QK:W[FG*,D-FRW3DMR[&F%),S*R8
MET%.XB 7M,:84DS,K)@W@MRFG!B34DS,K)A7@4ZB0!=6DY)-O+^HTMD@R441
M9MGL$H)Q":':)81F\B,L(26;F#O(N(2P<@FANX248>(]+H>$H]NO,+H=8DS*
M,#&S86C,&&-2IHGW$FG>6%P*JTG))F:6#9T5,&9"^28Y:*3!%SVA?),<+-*,
M(=($U:1\D_ OGQ"8034IWR3,OJ$Q$XQ)J2=A5D\0$#^(E^OS&)-<D6=6#XD9
M&#*A+)0P6RB,VV>JE;H,')E0\DF8Y?,Z;[_KAJ34DS"KAPS>X96FU),PJV>]
MB"LWB[B+]2+NMIQXCPBEGI19/?3\ .[34TH]*;-ZUJFQ0/,#ZP2^\/,# 2:E
MGI19/?0T!E9/2JDG958/C8G5DU+J2?>ZA/\2,\68E'K2?2SA+S9+^*\Z3HQ)
M;@=C7],/,3OZ]9223\H^M_;6Y)6O)<:D]),>8([M T2?>@EM] HO3Z>4?E)F
M_73LX #,;[*:+,V#.,6[_RC]9,SZZ<8\N_\"I92UP)B4?C)F_71C7FCCYV!N
M,2:EGVPO^NF:6WUY"V64?K*]Z"? M)W]44;9)^,./N0D,!YR9)1],N[@0V+B
M(4=&V2?C#CXD)AYR9.1V9&8)T5/J0=ND))0Q2XB>4@_:)B6AC%E"VSU2G7=W
M3HDGYYYR>S7;WQUU<TH[.?MO7W:0H)MENX1^T_\R:5F)8$=P3FDG9]]YAFK9
M54-*-CG['H+-=J]N-DHQ^4&7=?!MG%.*R?>V/ZT+$RLFIQ23<^]/(S&Q8G)*
M,3FS8FA,G&IS\C<OS(JA,3.,22DF9U8,C9DCS!&EFQ&S;FC,$<:DA#-B%L[K
M!=QN*XXHW8R8=?-[UZ?TNS[;N1)FN^O3S?=C3$H\(R^>OC_9?OXT53-=J^EW
M^ @+QPM9%F,CW!_W3H,H3MRF_=FR+$_AV'4-^=0=]^^Q^<7QY_\ 4$L#!!0
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M!^OV-U!+ 0(4 Q0    (  N!?$X?(\\#P    !,"   +              "
M 0    !?<F5L<R\N<F5L<U!+ 0(4 Q0    (  N!?$XGZ(<.@@   +$    0
M              "  >D   !D;V-0<F]P<R]A<' N>&UL4$L! A0#%     @
M"X%\3AL9\FSO    *P(  !$              ( !F0$  &1O8U!R;W!S+V-O
M<F4N>&UL4$L! A0#%     @ "X%\3IE<G",0!@  G"<  !,
M ( !MP(  'AL+W1H96UE+W1H96UE,2YX;6Q02P$"% ,4    "  +@7Q.4\-F
M&(X"   ="@  &               @ 'X"   >&PO=V]R:W-H965T<R]S:&5E
M=#$N>&UL4$L! A0#%     @ "X%\3KQJP!P/!   2A,  !@
M ( !O L  'AL+W=O<FMS:&5E=',O<VAE970R+GAM;%!+ 0(4 Q0    (  N!
M?$Y/3..XX0,  )42   8              "  0$0  !X;"]W;W)K<VAE971S
M+W-H965T,RYX;6Q02P$"% ,4    "  +@7Q.W-.;TVD#  "0#P  &
M        @ $8%   >&PO=V]R:W-H965T<R]S:&5E=#0N>&UL4$L! A0#%
M  @ "X%\3D3U1]E4!0  AQP  !@              ( !MQ<  'AL+W=O<FMS
M:&5E=',O<VAE970U+GAM;%!+ 0(4 Q0    (  N!?$[#'VIVMP$  -,#   8
M              "  4$=  !X;"]W;W)K<VAE971S+W-H965T-BYX;6Q02P$"
M% ,4    "  +@7Q.WD 8$K@!  #3 P  &               @ $N'P  >&PO
M=V]R:W-H965T<R]S:&5E=#<N>&UL4$L! A0#%     @ "X%\3DDD_D&U 0
MTP,  !@              ( !'"$  'AL+W=O<FMS:&5E=',O<VAE970X+GAM
M;%!+ 0(4 Q0    (  N!?$Y#_BZ+MP$  -,#   8              "  0<C
M  !X;"]W;W)K<VAE971S+W-H965T.2YX;6Q02P$"% ,4    "  +@7Q.5K-F
M%K8!  #1 P  &0              @ 'T)   >&PO=V]R:W-H965T<R]S:&5E
M=#$P+GAM;%!+ 0(4 Q0    (  N!?$X),YL8MP$  -$#   9
M  "  >$F  !X;"]W;W)K<VAE971S+W-H965T,3$N>&UL4$L! A0#%     @
M"X%\3IUI]HJX 0  T@,  !D              ( !SR@  'AL+W=O<FMS:&5E
M=',O<VAE970Q,BYX;6Q02P$"% ,4    "  +@7Q.\FJJGKH!  #2 P  &0
M            @ &^*@  >&PO=V]R:W-H965T<R]S:&5E=#$S+GAM;%!+ 0(4
M Q0    (  N!?$YN:B1ON $  -(#   9              "  :\L  !X;"]W
M;W)K<VAE971S+W-H965T,30N>&UL4$L! A0#%     @ "X%\3M@-+6:V 0
MTP,  !D              ( !GBX  'AL+W=O<FMS:&5E=',O<VAE970Q-2YX
M;6Q02P$"% ,4    "  +@7Q.BE6"6+<!  #3 P  &0              @ &+
M,   >&PO=V]R:W-H965T<R]S:&5E=#$V+GAM;%!+ 0(4 Q0    (  N!?$XQ
MY/04M@$  -,#   9              "  7DR  !X;"]W;W)K<VAE971S+W-H
M965T,3<N>&UL4$L! A0#%     @ "X%\3K,;[CRQ 0  TP,  !D
M     ( !9C0  'AL+W=O<FMS:&5E=',O<VAE970Q."YX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    (  N!?$[,67@#M $  -,#   9              "
M 0,^  !X;"]W;W)K<VAE971S+W-H965T,C,N>&UL4$L! A0#%     @ "X%\
M3F/.: *U 0  TP,  !D              ( ![C\  'AL+W=O<FMS:&5E=',O
M<VAE970R-"YX;6Q02P$"% ,4    "  +@7Q.\%7KM[4!  #3 P  &0
M        @ ':00  >&PO=V]R:W-H965T<R]S:&5E=#(U+GAM;%!+ 0(4 Q0
M   (  N!?$["GNI-MP$  -,#   9              "  <9#  !X;"]W;W)K
M<VAE971S+W-H965T,C8N>&UL4$L! A0#%     @ "X%\3D%E?6^X 0  TP,
M !D              ( !M$4  'AL+W=O<FMS:&5E=',O<VAE970R-RYX;6Q0
M2P$"% ,4    "  +@7Q. C#]>+@!  #3 P  &0              @ &C1P
M>&PO=V]R:W-H965T<R]S:&5E=#(X+GAM;%!+ 0(4 Q0    (  N!?$YJJ(^;
M+ ,  (T/   9              "  9))  !X;"]W;W)K<VAE971S+W-H965T
M,CDN>&UL4$L! A0#%     @ "X%\3ETK;7JX 0  TP,  !D
M ( !]4P  'AL+W=O<FMS:&5E=',O<VAE970S,"YX;6Q02P$"% ,4    "  +
M@7Q.HH[8,;D!  #3 P  &0              @ 'D3@  >&PO=V]R:W-H965T
M<R]S:&5E=#,Q+GAM;%!+ 0(4 Q0    (  N!?$[6U?3>R $  #@$   9
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M970S-BYX;6Q02P$"% ,4    "  +@7Q.J*BA<=(!  "=!   &0
M    @ &B6@  >&PO=V]R:W-H965T<R]S:&5E=#,W+GAM;%!+ 0(4 Q0    (
M  N!?$YEWX)IN0$  -,#   9              "  :M<  !X;"]W;W)K<VAE
M971S+W-H965T,S@N>&UL4$L! A0#%     @ "X%\3E>*2J7& 0  . 0  !D
M             ( !FUX  'AL+W=O<FMS:&5E=',O<VAE970S.2YX;6Q02P$"
M% ,4    "  +@7Q.ZSNKG;8!  #3 P  &0              @ &88   >&PO
M=V]R:W-H965T<R]S:&5E=#0P+GAM;%!+ 0(4 Q0    (  N!?$X5W<:2N0$
M -,#   9              "  85B  !X;"]W;W)K<VAE971S+W-H965T-#$N
M>&UL4$L! A0#%     @ "X%\3M&ZBZNW 0  TP,  !D              ( !
M=60  'AL+W=O<FMS:&5E=',O<VAE970T,BYX;6Q02P$"% ,4    "  +@7Q.
M ^7&.[D!  #3 P  &0              @ %C9@  >&PO=V]R:W-H965T<R]S
M:&5E=#0S+GAM;%!+ 0(4 Q0    (  N!?$XK$?BGPP$  #@$   9
M      "  5-H  !X;"]W;W)K<VAE971S+W-H965T-#0N>&UL4$L! A0#%
M  @ "X%\3OEI6RON 0  9P4  !D              ( !36H  'AL+W=O<FMS
M:&5E=',O<VAE970T-2YX;6Q02P$"% ,4    "  +@7Q.L&&+_;@!  #3 P
M&0              @ %R;   >&PO=V]R:W-H965T<R]S:&5E=#0V+GAM;%!+
M 0(4 Q0    (  N!?$XMI"HGQP(  "D-   9              "  6%N  !X
M;"]W;W)K<VAE971S+W-H965T-#<N>&UL4$L! A0#%     @ "X%\3F4C.. <
M @  _04  !D              ( !7W$  'AL+W=O<FMS:&5E=',O<VAE970T
M."YX;6Q02P$"% ,4    "  +@7Q.@?IG"OL$  #G&@  &0
M@ &R<P  >&PO=V]R:W-H965T<R]S:&5E=#0Y+GAM;%!+ 0(4 Q0    (  N!
M?$YXU+V4_@$  - %   9              "  >1X  !X;"]W;W)K<VAE971S
M+W-H965T-3 N>&UL4$L! A0#%     @ "X%\3K/[R7#U 0  <04  !D
M         ( !&7L  'AL+W=O<FMS:&5E=',O<VAE970U,2YX;6Q02P$"% ,4
M    "  +@7Q.6'?%0D0"  !;!P  &0              @ %%?0  >&PO=V]R
M:W-H965T<R]S:&5E=#4R+GAM;%!+ 0(4 Q0    (  N!?$X*KJJR1 (  %<'
M   9              "  <!_  !X;"]W;W)K<VAE971S+W-H965T-3,N>&UL
M4$L! A0#%     @ "X%\3J9;(FPP!P  D"H  !D              ( !.X(
M 'AL+W=O<FMS:&5E=',O<VAE970U-"YX;6Q02P$"% ,4    "  +@7Q.,6,2
MM&@$   V%@  &0              @ &BB0  >&PO=V]R:W-H965T<R]S:&5E
M=#4U+GAM;%!+ 0(4 Q0    (  N!?$XGKX'/*0(  #<&   9
M  "  4&.  !X;"]W;W)K<VAE971S+W-H965T-38N>&UL4$L! A0#%     @
M"X%\3M-;QPEB @  2 @  !D              ( !H9   'AL+W=O<FMS:&5E
M=',O<VAE970U-RYX;6Q02P$"% ,4    "  +@7Q.1%YF!_0!  !I!0  &0
M            @ $ZDP  >&PO=V]R:W-H965T<R]S:&5E=#4X+GAM;%!+ 0(4
M Q0    (  N!?$Y?MI=XW@$  . $   9              "  665  !X;"]W
M;W)K<VAE971S+W-H965T-3DN>&UL4$L! A0#%     @ "X%\3A5N(U"U 0
MT@,  !D              ( !>I<  'AL+W=O<FMS:&5E=',O<VAE970V,"YX
M;6Q02P$"% ,4    "  +@7Q.K@*.)1P"  !Z!@  &0              @ %F
MF0  >&PO=V]R:W-H965T<R]S:&5E=#8Q+GAM;%!+ 0(4 Q0    (  N!?$X]
MF)A)BP(  &\*   9              "  ;F;  !X;"]W;W)K<VAE971S+W-H
M965T-C(N>&UL4$L! A0#%     @ "X%\3KJ6V0DN P  GPT  !D
M     ( !>YX  'AL+W=O<FMS:&5E=',O<VAE970V,RYX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    (  N!?$[$^X:J#0,  '4-   9              "
M >2M  !X;"]W;W)K<VAE971S+W-H965T-C@N>&UL4$L! A0#%     @ "X%\
M3G9"\5L9!@  BRD  !D              ( !*+$  'AL+W=O<FMS:&5E=',O
M<VAE970V.2YX;6Q02P$"% ,4    "  +@7Q.6EH(I)T%  #+(   &0
M        @ %XMP  >&PO=V]R:W-H965T<R]S:&5E=#<P+GAM;%!+ 0(4 Q0
M   (  N!?$YJ^AD(R@,  ' 2   9              "  4R]  !X;"]W;W)K
M<VAE971S+W-H965T-S$N>&UL4$L! A0#%     @ "X%\3H8:&WE@!0  _1P
M !D              ( !3<$  'AL+W=O<FMS:&5E=',O<VAE970W,BYX;6Q0
M2P$"% ,4    "  +@7Q.$O" ".0"   +#   &0              @ 'DQ@
M>&PO=V]R:W-H965T<R]S:&5E=#<S+GAM;%!+ 0(4 Q0    (  N!?$[HG EW
M* (  (0&   9              "  ?_)  !X;"]W;W)K<VAE971S+W-H965T
M-S0N>&UL4$L! A0#%     @ "X%\3M$0*/M& @  XP8  !D
M ( !7LP  'AL+W=O<FMS:&5E=',O<VAE970W-2YX;6Q02P$"% ,4    "  +
M@7Q.K-. OYX"  #X"   &0              @ ';S@  >&PO=V]R:W-H965T
M<R]S:&5E=#<V+GAM;%!+ 0(4 Q0    (  N!?$ZW6&74[@$  -L$   9
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M970X,2YX;6Q02P$"% ,4    "  +@7Q..Z",0" "  #X!@  &0
M    @ '-W0  >&PO=V]R:W-H965T<R]S:&5E=#@R+GAM;%!+ 0(4 Q0    (
M  N!?$Y0:)*Y2@(  -<&   9              "  23@  !X;"]W;W)K<VAE
M971S+W-H965T.#,N>&UL4$L! A0#%     @ "X%\3KDN]TGM 0  VP0  !D
M             ( !I>(  'AL+W=O<FMS:&5E=',O<VAE970X-"YX;6Q02P$"
M% ,4    "  ,@7Q.*+9.1!<"  #\!0  &0              @ ')Y   >&PO
M=V]R:W-H965T<R]S:&5E=#@U+GAM;%!+ 0(4 Q0    (  R!?$[D?9O!$0(
M   &   9              "  1?G  !X;"]W;W)K<VAE971S+W-H965T.#8N
M>&UL4$L! A0#%     @ #(%\3OV5FF![ P  ]A   !D              ( !
M7^D  'AL+W=O<FMS:&5E=',O<VAE970X-RYX;6Q02P$"% ,4    "  ,@7Q.
M17B79%<#  !'$   &0              @ $1[0  >&PO=V]R:W-H965T<R]S
M:&5E=#@X+GAM;%!+ 0(4 Q0    (  R!?$Y(C/L#B@(  *@(   9
M      "  9_P  !X;"]W;W)K<VAE971S+W-H965T.#DN>&UL4$L! A0#%
M  @ #(%\3E^*5D47 @   P8  !D              ( !8/,  'AL+W=O<FMS
M:&5E=',O<VAE970Y,"YX;6Q02P$"% ,4    "  ,@7Q.*V)4"?L!   L!@
M&0              @ &N]0  >&PO=V]R:W-H965T<R]S:&5E=#DQ+GAM;%!+
M 0(4 Q0    (  R!?$X1L166EP(  ',*   9              "  >#W  !X
M;"]W;W)K<VAE971S+W-H965T.3(N>&UL4$L! A0#%     @ #(%\3J,*%CQ>
M @  F0<  !D              ( !KOH  'AL+W=O<FMS:&5E=',O<VAE970Y
M,RYX;6Q02P$"% ,4    "  ,@7Q./N_N.:7(  #T,0, %
M@ %#_0  >&PO<VAA<F5D4W1R:6YG<RYX;6Q02P$"% ,4    "  ,@7Q.(\\K
M0VX"  !:#0  #0              @ $:Q@$ >&PO<W1Y;&5S+GAM;%!+ 0(4
M Q0    (  R!?$Y]BCW5T 8  /4\   /              "  ;/( 0!X;"]W
M;W)K8F]O:RYX;6Q02P$"% ,4    "  ,@7Q.\NI3.\D"  !,-P  &@
M        @ &PSP$ >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"% ,4
M    "  ,@7Q.Q+,[TTL"  "+-0  $P              @ &QT@$ 6T-O;G1E
C;G1?5'EP97-=+GAM;%!+!08     9@!F /P;   MU0$    !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>107
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.19.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>298</ContextCount>
  <ElementCount>342</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>true</FootnotesReported>
  <SegmentCount>83</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>6</UnitCount>
  <MyReports>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>000100 - Document - Document And Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/DocumentAndEntityInformation</Role>
      <ShortName>Document And Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>000200 - Statement - Consolidated Statements of Comprehensive Loss</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/role/ConsolidatedStatementComprehensiveIncomeLoss</Role>
      <ShortName>Consolidated Statements of Comprehensive Loss</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>000300 - Statement - Consolidated Statements of Financial Position</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/role/ConsolidatedStatementOfFinancialPosition</Role>
      <ShortName>Consolidated Statements of Financial Position</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>000400 - Statement - Consolidated Statements of Changes in Equity</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/role/ConsolidatedStatementChangesInEquity</Role>
      <ShortName>Consolidated Statements of Changes in Equity</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>4</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>000500 - Statement - Consolidated Statements of Cash Flows</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ConsolidatedStatementCashFlows</Role>
      <ShortName>Consolidated Statements of Cash Flows</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>5</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>100100 - Disclosure - Basis of Presentation And General Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformation</Role>
      <ShortName>Basis of Presentation And General Information</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>6</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>100200 - Disclosure - Basis of Preparation And Significant Accounting Policies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPolicies</Role>
      <ShortName>Basis of Preparation And Significant Accounting Policies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>7</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>100300 - Disclosure - Cash and Cash Equivalents And Restricted Cash</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCash</Role>
      <ShortName>Cash and Cash Equivalents And Restricted Cash</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>8</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>100400 - Disclosure - Transactions With Related Parties</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedParties</Role>
      <ShortName>Transactions With Related Parties</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>9</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>100500 - Disclosure - Vessels, net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VesselsNet</Role>
      <ShortName>Vessels, net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>10</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>100600 - Disclosure - Inventories</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/Inventories</Role>
      <ShortName>Inventories</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>11</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>100700 - Disclosure - Prepayments And Other Assets</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssets</Role>
      <ShortName>Prepayments And Other Assets</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>12</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>100800 - Disclosure - Trade Accounts Payable</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TradeAccountsPayable</Role>
      <ShortName>Trade Accounts Payable</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>13</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>100900 - Disclosure - Accrued Liabilities And Other Payables</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayables</Role>
      <ShortName>Accrued Liabilities And Other Payables</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>14</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>101000 - Disclosure - Share Capital And Share Premium</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremium</Role>
      <ShortName>Share Capital And Share Premium</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>15</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>101100 - Disclosure - Loss Per Share</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/EarningsLossPerShare</Role>
      <ShortName>Loss Per Share</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>16</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>101200 - Disclosure - Long-Term Debt, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNet</Role>
      <ShortName>Long-Term Debt, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>17</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>101300 - Disclosure - Share Based Payment</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareBasedPayment</Role>
      <ShortName>Share Based Payment</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>18</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>101400 - Disclosure - Voyage Expenses And Vessel Operating Expenses</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpenses</Role>
      <ShortName>Voyage Expenses And Vessel Operating Expenses</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>19</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>101500 - Disclosure - Administrative Expenses</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AdministrativeExpenses</Role>
      <ShortName>Administrative Expenses</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>20</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>101600 - Disclosure - Interest Expense And Finance Costs</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCosts</Role>
      <ShortName>Interest Expense And Finance Costs</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>21</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>101700 - Disclosure - Dividends</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/Dividends</Role>
      <ShortName>Dividends</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>22</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>101800 - Disclosure - Contingencies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/Contingencies</Role>
      <ShortName>Contingencies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>23</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>101900 - Disclosure - Commitments</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/Commitments</Role>
      <ShortName>Commitments</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>24</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>102000 - Disclosure - Income Tax</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/IncomeTax</Role>
      <ShortName>Income Tax</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>25</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>102100 - Disclosure - Financial Risk Management Objectives And Policies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPolicies</Role>
      <ShortName>Financial Risk Management Objectives And Policies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>26</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>102200 - Disclosure - Fair Value</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FairValue</Role>
      <ShortName>Fair Value</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>27</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>102300 - Disclosure - Events After The Reporting Period</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/EventsAfterTheReportingPeriod</Role>
      <ShortName>Events After The Reporting Period</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>28</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>200000 - Disclosure - Basis Of Preparation And Significant Accounting Policies (Policy)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesPolicy</Role>
      <ShortName>Basis Of Preparation And Significant Accounting Policies (Policy)</ShortName>
      <MenuCategory>Policies</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPolicies</ParentRole>
      <Position>29</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>300100 - Disclosure - Basis of presentation and general information (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPresentationTables</Role>
      <ShortName>Basis of presentation and general information (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>30</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>300300 - Disclosure - Cash and cash equivalents and Restricted cash (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables</Role>
      <ShortName>Cash and cash equivalents and Restricted cash (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>31</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>300400 - Disclosure - Transactions with Related parties (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesTables</Role>
      <ShortName>Transactions with Related parties (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>32</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>300500 - Disclosure - Vessels, net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VesselsNetTables</Role>
      <ShortName>Vessels, net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/VesselsNet</ParentRole>
      <Position>33</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>300600 - Disclosure - Inventories (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/InventoriesTables</Role>
      <ShortName>Inventories (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/Inventories</ParentRole>
      <Position>34</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>300700 - Disclosure - Prepayments and other assets (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTables</Role>
      <ShortName>Prepayments and other assets (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>35</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>300900 - Disclosure - Accrued liabilities and other payables (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTables</Role>
      <ShortName>Accrued liabilities and other payables (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>36</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>301000 - Disclosure - Share Capital and Share Premium (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTables</Role>
      <ShortName>Share Capital and Share Premium (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>37</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>301100 - Disclosure - Loss per share (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LossPerShareTables</Role>
      <ShortName>Loss per share (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>38</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>301200 - Disclosure - Long-Term Debt, net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtTables</Role>
      <ShortName>Long-Term Debt, net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/LongTermDebtNet</ParentRole>
      <Position>39</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>301300 - Disclosure - Share Based Payment (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables</Role>
      <ShortName>Share Based Payment (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/ShareBasedPayment</ParentRole>
      <Position>40</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>301400 - Disclosure - Voyage Expenses and Vessel Operating Expenses (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesTables</Role>
      <ShortName>Voyage Expenses and Vessel Operating Expenses (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>41</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>301500 - Disclosure - Administrative Expenses (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTables</Role>
      <ShortName>Administrative Expenses (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/AdministrativeExpenses</ParentRole>
      <Position>42</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>301600 - Disclosure - Interest Expense and Finance Costs (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTables</Role>
      <ShortName>Interest Expense and Finance Costs (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>43</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>301900 - Disclosure - Commitments (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CommitmentsTables</Role>
      <ShortName>Commitments (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/Commitments</ParentRole>
      <Position>44</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>302100 - Disclosure - Financial risk management objectives and policies (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTables</Role>
      <ShortName>Financial risk management objectives and policies (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>45</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>302200 - Disclosure - Fair values (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FairValuesTables</Role>
      <ShortName>Fair values (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>46</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>400100 - Disclosure - Basis of Presentation and General Information (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationTableDetails</Role>
      <ShortName>Basis of Presentation and General Information (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>47</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>400110 - Disclosure - Basis of Presentation and General Information (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPresentationAndGeneralInformationDetails</Role>
      <ShortName>Basis of Presentation and General Information (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>48</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>400200 - Disclosure - Basis of Preparation And Significant Accounting Policies (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/BasisOfPreparationAndSignificantAccountingPoliciesDetails</Role>
      <ShortName>Basis of Preparation And Significant Accounting Policies (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>49</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R50.htm</HtmlFileName>
      <LongName>400300 - Disclosure - Cash and cash equivalents and Restricted cash (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashTableDetails</Role>
      <ShortName>Cash and cash equivalents and Restricted cash (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables</ParentRole>
      <Position>50</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R51.htm</HtmlFileName>
      <LongName>400310 - Disclosure - Cash and cash equivalents and Restricted Cash (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsAndRestrictedCashDetails</Role>
      <ShortName>Cash and cash equivalents and Restricted Cash (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/CashAndCashEquivalentsTables</ParentRole>
      <Position>51</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R52.htm</HtmlFileName>
      <LongName>400400 - Disclosure - Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationNonExecutiveDirectorsTableDetails</Role>
      <ShortName>Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>52</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R53.htm</HtmlFileName>
      <LongName>400410 - Disclosure - Transactions with Related Parties - Compensation to the Company's Executive Director (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesCompensationExecutiveDirectorsTableDetails</Role>
      <ShortName>Transactions with Related Parties - Compensation to the Company's Executive Director (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>53</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R54.htm</HtmlFileName>
      <LongName>400420 - Disclosure - Transactions with Related Parties (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TransactionsWithRelatedPartiesDetails</Role>
      <ShortName>Transactions with Related Parties (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>54</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R55.htm</HtmlFileName>
      <LongName>400500 - Disclosure - Vessels, net - Consolidated Statement of Financial Position (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfFinancialPositionTableDetails</Role>
      <ShortName>Vessels, net - Consolidated Statement of Financial Position (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>55</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R56.htm</HtmlFileName>
      <LongName>400510 - Disclosure - Vessels, net - Consolidated Statement of Comprehensive Income (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VesselsNetConsolidatedStatementOfComprehensiveIncomeTableDetails</Role>
      <ShortName>Vessels, net - Consolidated Statement of Comprehensive Income (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>56</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R57.htm</HtmlFileName>
      <LongName>400530 - Disclosure - Vessels, net (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VesselsNetDetails</Role>
      <ShortName>Vessels, net (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/VesselsNetTables</ParentRole>
      <Position>57</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R58.htm</HtmlFileName>
      <LongName>400600 - Disclosure - Inventories (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/InventoriesTableDetails</Role>
      <ShortName>Inventories (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/InventoriesTables</ParentRole>
      <Position>58</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R59.htm</HtmlFileName>
      <LongName>400700 - Disclosure - Prepayments and other assets (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTableDetails</Role>
      <ShortName>Prepayments and other assets (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/PrepaymentsAndOtherAssetsTables</ParentRole>
      <Position>59</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R60.htm</HtmlFileName>
      <LongName>400800 - Disclosure - Trade accounts payable (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/TradeAccountsPayableDetails</Role>
      <ShortName>Trade accounts payable (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>60</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R61.htm</HtmlFileName>
      <LongName>400900 - Disclosure - Accrued liabilities and other payables (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTableDetails</Role>
      <ShortName>Accrued liabilities and other payables (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/AccruedLiabilitiesAndOtherPayablesTables</ParentRole>
      <Position>61</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R62.htm</HtmlFileName>
      <LongName>401000 - Disclosure - Share capital and share premium (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTableDetails</Role>
      <ShortName>Share capital and share premium (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>62</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R63.htm</HtmlFileName>
      <LongName>401010 - Disclosure - Share Capital and Share Premium - Common Shares (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumCommonSharesTableDetails</Role>
      <ShortName>Share Capital and Share Premium - Common Shares (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>63</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R64.htm</HtmlFileName>
      <LongName>401020 - Disclosure - Share Capital and Share Premium - Preferred Shares (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumPreferredSharesTableDetails</Role>
      <ShortName>Share Capital and Share Premium - Preferred Shares (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>64</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R65.htm</HtmlFileName>
      <LongName>401030 - Disclosure - Share Capital and Share Premium (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumDetails</Role>
      <ShortName>Share Capital and Share Premium (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/ShareCapitalAndSharePremiumTables</ParentRole>
      <Position>65</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R66.htm</HtmlFileName>
      <LongName>401100 - Disclosure - Loss per Share (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareTableDetails</Role>
      <ShortName>Loss per Share (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>66</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R67.htm</HtmlFileName>
      <LongName>401110 - Disclosure - Loss per Share (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/EarningsLossPerShareDetails</Role>
      <ShortName>Loss per Share (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>67</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R68.htm</HtmlFileName>
      <LongName>401200 - Disclosure - Long-Term Debt, net (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNetTableDetails</Role>
      <ShortName>Long-Term Debt, net (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/LongTermDebtTables</ParentRole>
      <Position>68</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R69.htm</HtmlFileName>
      <LongName>401210 - Disclosure - Long-Term Debt, net - Annual Loan Principal Payments (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNetAnnualLoanPrincipalPaymentsTableDetails</Role>
      <ShortName>Long-Term Debt, net - Annual Loan Principal Payments (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>69</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R70.htm</HtmlFileName>
      <LongName>401220 - Disclosure - Long-Term Debt, Net - Hamburg Commercial Bank AG Loan Agreement (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDevoceanDetails</Role>
      <ShortName>Long-Term Debt, Net - Hamburg Commercial Bank AG Loan Agreement (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>70</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R71.htm</HtmlFileName>
      <LongName>401230 - Disclosure - Long-Term Debt, Net - DVB Loan Agreement and Macquarie Loan Agreement (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNetDVBLoanAgreementDetails</Role>
      <ShortName>Long-Term Debt, Net - DVB Loan Agreement and Macquarie Loan Agreement (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>71</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R72.htm</HtmlFileName>
      <LongName>401240 - Disclosure - Long-Term Debt, Net - Firment Shipping Inc. and Silaner Investments Limited (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/LongTermDebtNetFirmentShippingIncAndSilanerInvestmentsLimitedDetails</Role>
      <ShortName>Long-Term Debt, Net - Firment Shipping Inc. and Silaner Investments Limited (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>72</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R73.htm</HtmlFileName>
      <LongName>401300 - Disclosure - Share Based Payment (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTableDetails</Role>
      <ShortName>Share Based Payment (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables</ParentRole>
      <Position>73</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R74.htm</HtmlFileName>
      <LongName>401310 - Disclosure - Share Based Payments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentDetails</Role>
      <ShortName>Share Based Payments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/ShareBasedPaymentTables</ParentRole>
      <Position>74</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R75.htm</HtmlFileName>
      <LongName>401400 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesTableDetails</Role>
      <ShortName>Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>75</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R76.htm</HtmlFileName>
      <LongName>401410 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVesselOperatingExpensesTableDetails</Role>
      <ShortName>Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>76</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R77.htm</HtmlFileName>
      <LongName>401420 - Disclosure - Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/VoyageExpensesAndVesselOperatingExpensesVoyageExpensesDetails</Role>
      <ShortName>Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>77</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R78.htm</HtmlFileName>
      <LongName>401500 - Disclosure - Administrative Expenses (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTableDetails</Role>
      <ShortName>Administrative Expenses (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/AdministrativeExpensesTables</ParentRole>
      <Position>78</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R79.htm</HtmlFileName>
      <LongName>401600 - Disclosure - Interest Expense and Finance Costs (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTableDetails</Role>
      <ShortName>Interest Expense and Finance Costs (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/InterestExpenseAndFinanceCostsTables</ParentRole>
      <Position>79</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R80.htm</HtmlFileName>
      <LongName>401710 - Disclosure - Dividends (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/DividendsDetails</Role>
      <ShortName>Dividends (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/Dividends</ParentRole>
      <Position>80</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R81.htm</HtmlFileName>
      <LongName>401900 - Disclosure - Commitments (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumReceivablesTableDetails</Role>
      <ShortName>Commitments (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/CommitmentsTables</ParentRole>
      <Position>81</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R82.htm</HtmlFileName>
      <LongName>401910 - Disclosure - Commitments - Future minimum lease payments (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CommitmentsFutureMinimumPaymentsTableDetails</Role>
      <ShortName>Commitments - Future minimum lease payments (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>82</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R83.htm</HtmlFileName>
      <LongName>401920 - Disclosure - Commitments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/CommitmentsDetails</Role>
      <ShortName>Commitments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/CommitmentsTables</ParentRole>
      <Position>83</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R84.htm</HtmlFileName>
      <LongName>402000 - Disclosure - Income Tax (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/IncomeTaxDetails</Role>
      <ShortName>Income Tax (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/IncomeTax</ParentRole>
      <Position>84</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R85.htm</HtmlFileName>
      <LongName>402100 - Disclosure - Financial risk management objectives and policies - Interest rate risk (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesInterestRiskTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Interest rate risk (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>85</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R86.htm</HtmlFileName>
      <LongName>402110 - Disclosure - Financial risk management objectives and policies - Foreign currency risk (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesForeignCurrencyRiskTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Foreign currency risk (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>86</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R87.htm</HtmlFileName>
      <LongName>402120 - Disclosure - Financial risk management objectives and policies - Concentration of credit risk (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesConcentrationCreditRiskTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Concentration of credit risk (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>87</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R88.htm</HtmlFileName>
      <LongName>402130 - Disclosure - Financial risk management objectives and policies - Liquidity risk (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesLiquidityRiskTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Liquidity risk (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>88</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R89.htm</HtmlFileName>
      <LongName>402140 - Disclosure - Financial risk management objectives and policies - Capital management 1 (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesAdjustedBookCapitalizationTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Capital management 1 (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>89</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R90.htm</HtmlFileName>
      <LongName>402150 - Disclosure - Financial risk management objectives and policies - Capital management 2 (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTableDetails</Role>
      <ShortName>Financial risk management objectives and policies - Capital management 2 (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>90</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R91.htm</HtmlFileName>
      <LongName>402160 - Disclosure - Financial risk management objectives and policies (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesDetails</Role>
      <ShortName>Financial risk management objectives and policies (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/FinancialRiskManagementObjectivesAndPoliciesTables</ParentRole>
      <Position>91</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R92.htm</HtmlFileName>
      <LongName>402200 - Disclosure - Fair values (Table) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/FairValueMeasurementsTableDetails</Role>
      <ShortName>Fair values (Table) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.globusmaritime.gr/20181231/role/FairValuesTables</ParentRole>
      <Position>92</Position>
    </Report>
    <Report instance="glbs-20181231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R93.htm</HtmlFileName>
      <LongName>402300 - Disclosure - Events after the reporting date (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.globusmaritime.gr/20181231/role/SubsequentEventsDetails</Role>
      <ShortName>Events after the reporting date (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>93</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>glbs-20181231.xml</File>
    <File>glbs-20181231.xsd</File>
    <File>glbs-20181231_cal.xml</File>
    <File>glbs-20181231_def.xml</File>
    <File>glbs-20181231_lab.xml</File>
    <File>glbs-20181231_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2018-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.ifrs.org/taxonomy/2018-03-16/ifrs-full</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>111
<FILENAME>0001144204-19-016636-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001144204-19-016636-xbrl.zip
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M[OL [L\>/1<^&6P>;4BB"\=$^[45PB$.Y^; \X!Y[6VN7>,K5(8KUP_ZDRW
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MN?]1'FHLLRJ^%X&SJG56-1_)7W&)*V<5+5;1&M!1R*KPF\LK=[ETG<&P*\H
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M'Y$(UZ!\#1I*Y6V Q:8AIPM/)$,V<)]Q.F:RHO'P5]M]7?N)_LJ^<!"KO;
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MOF,M105 G-@BTYM+!M]V Q*%&\"\LG7?1S>YF1<^\I=^4TJFTLRU5J,++,%
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MXX$EN _,0:'G+F',,U3DUK9N;'%[OA@2:A=> )=$JK=P;1-M@ >%'DKC !B
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M1\SP$OC=8<8*'.V6*\>:TJZV-I'R'L=25:"/L=QU=$XCO'(QRJ,;]AHU,-_
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MG377#,UUU8%#F?*:<O6:6OJJT:HUT2;;"J]R^ QW/0%P&M%9GLKIS539 @V
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M>(?VX*2K.)*LS;JC,4W%440Y<_*O \B/KC@8+>,345+PK6%TK%WW%ZF+:I^
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MA$_$H:!@(2\%_(!L^R/-&MXCR9)\1CM!:4Q/TP=#%7F*3Y7XI?4VQ'A*R@T
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M\X#I4_^"D][YZS9.F48>V5Q[$'8A6 !A W0/OMJ+-]FO.MIP&XF[SH4?'#<
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MNQ-O,[C=B0A16R*XW2FGZ',06AS@;;C1B7T;-SI-Z# XFU.;#MSDE!/T5P^
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MO13RK9RLU/I#RYS\B9-T(IY)"F9G.O7>S3U*74[ZK#.N,QKPF9D-^KN[T=_
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M\5LZM4, M B@U>=1"H#N!>@%^K[WBH6R-Y+6<SFOC4^7D1LWICJ4)%0"3?N
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MF](@&5%>%B'-KNJ]$SI;.5%P#./RTI.U@TFMX;C>,[;&N6T9Q,H&>C*828L
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MTCWUL6+^3OKDTSGU\:U3S_0>]APYZYB%XO.:/!R-#RS-B _^3>F2LVT9N2[
M8F=UMAX\S-YPO0-K>E$8A+ 4[/D@#5ZZ&+@AM7"?@G=((7P-WP%0 ([]8I.9
M[;#&"+65PU9K/^JDH<S-%':FO<_#6QZ7*K&XQG7C9$EFK]HA?,YL+E/^&D=D
M;_R;^+87!8BJ]C*0I2"RPX")8:QN@%^Z(?S6=DTGLC@?\P+DKX^>\XC_?O#
MVG89$_;I0^2P*&* *J#-GF.,#(QZ8->,6B(??@TL"G\=+.S5"A>918'MTB 8
MY IC)#3M<3F9U590Y.WK>.&Y[RTQ1KF*0F2$=KA@Z1%H\_GP=>H^VK['M@52
M(CD;03K&_W61Y2.!^_RH;#7^%%\KB%8KQ\8_9R4'.PH?!PAG3$ZQ3QP\PF&H
M$PRDUQ$P5S=TUC)LWH4-,$C9 3#A4")/J"C#,O Z?-)<)'L @6.FC$=R-IQ'
MEIX6-CR'[RT)G-:&X\WA<2OE68.#^2%'&>0QAG>862Z7=LC*8Z[ (F-S>7H5
MGCEMC&>F(&Q*^K:Z0NAJ?._+AG(E5CB!!5](X_!PPDH8;Y@!K<T\$FY^Z?O$
M?4BJP%P)^65*[[!L@!J6^]+$ *?CL,35W"L+8@%760)G96R%^D#P,QH^4>J"
M5OL(YA19!\AN OH(OP+U.%P$!8H=-YB2MP/[6_IR^.0=?G6,RF(0+7$3J$,Z
M\&D@5C@H,C705('_8>XM<%X;SX %< /I711&J$+24,(2T66TE!Q* E1#8;,1
M189I4ON1'3L"BO1W@.$E U7YFX>/QC?*U-:-0T%ZSN$-K\U?+FQ46_%9RU^_
MM#SS*R[-P;# :_,B!U1WTXQ\D#,A8YW(?,V$,TM?79QSF?P^)%^IRW$!2_]
M6^3\'C^!4%E+*:QB 1!?OC1;\X+!5 ZE?-YDJ32@9 .K?E%_"N85R*7;Q-Z%
M8L8Z[O JE8O:, ZK[+V<)BH51QB-*8[L#B>#8:VX3K:+P44*%14Z&=.II0^-
MD6&,-3*;J>80?IR.*!WI5H4YE_7+$K<#E_4J$1L :4NKL,9&S2AB!T!3L@0K
MEX[19?(\C<S^ X8=V*.>RQUQE5,#E--J7Y1XOG#G\2X.5$^G%</_*07>*.A4
M>6A4R1@]'X7R,[>%2,_0?*TRL9Z:HJ+6:RS8&D0M3$^Y M6+.]CJO5:%?>13
MA+KE5"L7(*T6B%*U7AN3/;#9N2=MTXP) Q!TRR6#GF^/%1109].6"9TP&8^;
M1%;$#[F/'__$J!1=9!&LO_'?< <\"R#;;DAY?0*+@_@4R\QYU"",(P(4XR-!
M&.R)D;8?M-U&C+OPH*\P$Y)A^0!$PNM?XX43=]OY*)$'G\98$L"O !%HW/+>
M>,&\N3MO\.L/TGC0?&X#HJQ\NK29,Q-6XHY79RW!BRR^\S;R/4E59'VD2,_)
M#"1?%":X_8)'H "32?P%^*#M69@H@%]-\QCPI-KP8'A'<)TFP@)S[N/.^[?C
M3),@=FJ#*1GDD>>("SOUM1.&#:^DW^XE"YUJP+N^F0MD5AQ=$!/8NRIH-*J1
M8@<N\XK]4E-V/.*-]I?K6Y,V?3+F_7_C Y^_1]N1FA9-'Q@MR&@_S?FI4F.N
M#57#HMK$(%-EJIN3&9UI)IG.]9%&KN_\U X8#K=0D]5\YZKI;1>Y->MIW682
MQ_H,7)I+L)54?N.=<\MJ-5V%;4([;NX;50>>3?M69V^4;/32*6J[B*6$'IF4
MLECV Z8C+#T?#5\2IYNPA/P=")_*)-E6T[D@-?M)]H^<AZ.*_1%[1\[#:1/-
M$'NA89\&N ]ER/9&R4M(RTU7M":DY6V1UUG&/HU/BWJ)<3?[+V$RK!AXW#)>
MQ0U4#SPJ1LF>7Z5Z$]QB$%*$>JIYXY$#2YBFG70*B]WO.SGD\\R4@!/JU)=Q
M7G;H8?WH6,;_*NR!9ZH^@2\'*RQ,>:3.^E"DKTQ9S;[2F$/%-'P&D$V<SW;P
M]4-:.W3U>4J.[=*7L9Y0A\TDJ%'D9%,;JJA)X2CY ,AL%98W^R^_7%X^L *Y
ML+]2L;%0RH5@=SVB;_J VZ4ZN2*[>7JSF0HY5L<QPW;)CD>P$#'TL2 <+YAG
M"L3-Y/F=(\O8+ .<Q7YD(\^P/##T(T03'@7&I !I%?DK+RU?#&C!#FP6' ;J
MLX,PJ8",GP2&!2_O.TRFKC#9&#'_C.S 3MJR9FN,T@CW@@328US"N=D-?)N&
M09K1$(. 5Z'D*G18?@,)%NR'8.'Y(6^N;U$XJ!UFZ@VQZ-*RX56LF&&Y%)@+
ML=EU!DQ(9P%[!<^;YET<OL(-P/D5LEW-'>\)2W'X&  6'L7%9<S)L.PP_H=C
M YS@GVM.X7' %)#0C8M\3/Z7P1%.<4;"OVE17L"EWN_<:S_.U=E[*K@5QL\6
M\<^LI(XQ-&+[P'F<"*N[DY2)E&A9.@392][2D^TX\%!DAA%^8D9-$G&FRM,@
MV.0]./%7&N9I/\_Z<GP$M$.F-B59.6RO)59,LWE6O@T/ %B2%?9]93-\A+7(
M]F8 _IAGLZIQ.#E72K>W?5=4@>EZF3DF<5)'R #W#;32)'TH70Y96T&JB2R-
M_G:H(IV)Q!.^52>Q3="=.$\9?B]Q'T$O3M?9V]JDO;%4,E:3SG1#BRX]E\T
MIEP !#CH%+1C.\ZF!.9) L^%A]>;,O$XE<UVMYB@S%DD =[/]7#46KDBOJ".
MQ1)[0^*&\B$FAFU :B5 MML/4Z6,=Z0,QML'U(>Q>[Z!7#9-/Q0(4*_5G7ES
M)ZI2G+-FJ6-"Z7 \UL9S8S2RIO/Q9&Y,YM9,L2:3287)H@WGK*F:SB:G7]N!
M?-[9H>]=$UD%_?XYJ"WLIQ?((&8$+&3@'/;>9B=EP#>97#8.Q9=7!P?;ME[
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MM G_F4?LU'!G/@+-2F;;1^'"@WO@6W'L90;@\-%HA>UB 1*^)3GT$1=/)@W
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MU0NII&HO:F!09U"]-1L]7[9UEHZOGVMMZ(-A"VJ;SVP-'DB0+AEY[J!W6*1
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M*4]$6R C -,5*[\-@&FG:7^CXKWUJ0'%?16N*OP[@V/";A?I 2(]0*0'B/0
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M_3$:F?/YA!JCV5PUU"$E.J5315-',WTR-^;C,UQXA4E3E4YZVHX3R_2 &_=
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MJNX<D!LHP*$$L>:).K"5)9QJ ;@T#V-6EJ!O691E# T.:X<,7?&,/N5/4NO
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M8"0JH\T^_&5\]<IL)>)[**S'*S%)9'EB#Y"45A9<2B8\@5MY(]Y[^I @6&9
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MV]>C\4Q'0]*Y7$Q!V]&D,CI?3I*RR,U1"3[WS_I(.GH)HHTJJ4&/$#VCN?-
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MWBQ [IMK:V9A9*.]UA7O2=38D["U)VES3T*])W_BGES3GFA>N"]8?DFP?BH
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M)91Y4D&4HC7)J!Z@(IA&A0TVS8VC#\U=,3>IT0,[OPR)9,P(T01/,GZ;6_!
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MWG8:>NBES@M@AJ.5-'89IV3P,,D>H=^,!%2$I8+4<HT_D#R2T/&AD*?\MB6
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M)OL3L]E?]Q$S]BZ\+M)XU>TP.VG.ZO_^[=__S+Z.#T^/!D>C!]Z<D8)W!S]
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MH1/$16W.A_EBO5!07@U\E' Q'CI,*"849[[4OJ-OK!.6/"M*JJ*X1GLLS%A
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M1M!R?K NT=BYT[W#%_-CX>><66+_QY@.6&136:.E)9L;O;?$2>,-E2P:_0O
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M#2B$8S$[ \>1*$_9KH-LL?EUI7[N=Q7E0"ZBE64*_!A=0V*\U:D1!4P7!?X
M+7;G_-R[Y95 *(JA4YB>?G_/T5&3.+]*DZE:D#B)J"(%FB*7/89E51U+9K0
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M'HI9S> 4$/7I-F[!/XP7\M6]M=>J@X2>6@ +EOM /_@$C8+*( NAKX0^O'J
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M2*MG<S [[<=@PC"3O$QL%FT,L9>LND.-@"SN_BCSQ4U9+0M?1>@Q":GC":4
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M(J?@LM%/N$7[>V:O7'$4HF[D_PI 5#-U\ H@5#,Z?P40LDS;MEJQ]Q*AARO
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M[@I@U'K8]\"BT>$-7J]/[K4>]M;#?B0/^V!4IY5'BTJMJ"-$LDQK6*>1TK7
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M.DV,#](3<E8H?.I0IF"AD>L&%:*PIR"0CU]%>\,J5BA)8?JR/+#A=)R'T.'
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MQ]G1[HU@_6V<HW&?B5U]C'N+JUMQ%01-&^=H)4T;YS@KRJWHD6]C'&V,X\0
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M0-4H(86)F"QPA@?F^>1'%FD3^&91.$9^=/PM^8>!@V1P14^YW;6[ZQJT:(]
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M_WOWN6"'42FEW!V)#OE:R3\]T0IHW/W>%-YB>E9;\+/\V6?ZF;:T@'(LF6=
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M-N+US.[X=!#OK#3SY^_7/C^U1JL[\K9/ID[]Z?:KNQ7'7=G-9PF09^O!>@[
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MUL<S2;$6=M>4OM&HK[3?WS/P<"E9&@U"#SUG-:7LM<)OBV0>=OK6\)(E\W'
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M8!H7V_(:;V;,N?"%<;$00)MRU(2K+/_5.H^]$1Q6F&RS-7^&$$V%E;'"866
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MEZFEX3<+']; :9X\N/WGEU=__FW.8U73&\L ?%9_+$WK.$X%NQ!MB1 -BD^
M#@-JCN #]#B%^'5JZ/SI3>&0A9/[H5,X-/R-L%\_<W;D>83-AOX'/WC3R$+6
M^D)JFW=1<4$6.>JW2&'Z6DE8N!9X\HF;D4^\F8&%<YO?4/E&]D,*ZX608OQR
M2&&MWZ5=$2DV%NI51PJKB!160TBQ!B[D0W]&;H9+_/G_!U!+ P04    "  ,
M@7Q.G<62[V @  #YEP$ $0   &=L8G,M,C Q.#$R,S$N>'-D[5U;<^,VLG[/
MK^#QRTFJXNLDV60JDRW9LB?>M<<NVTEVGU(0"4G(4( &)&UK?_U! Z3$"PB
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M,YZ:NU+ ,G@$GOWQW<:(V<%RQ$FS^BSCU./3(?#T'/$BA/2]6(N3,0D13?-
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M<ZUK]B4JV?N:=[D2WK@+;JEU<P"&OL[M5[]K=[[-]6V^[-U7]U:<&[M[-5I
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MMWM+U.;P1[$+QC&94.5'$"[<=+-E\D<],<<"#R:>;XNI"!!N2KIE]4?59?Q
MD-&A#1KH_5$J=\E;A71RV=$V9?%'M:5CK$M_J:?=K3*#Z%%&#&U>1*LE>'1>
MDHO6O*I03_!(YLJ[%F)&U_(&@OD]#'L^GS2&"Z_Q8HCG' M!@>Z.3*8I&V=B
M3MN().A"_0*GX>X.0!=W]\<_R&F.YO$<3>(.?4"D(+"9+^I(<]:M3_;(=#XQ
M:E&AE<(C+7ZC'*.8_*?M.>V2.G;2G3B"&!WS>3K.XKS';?;$NE2/L(&-+"RO
M>[8HT$;@D0ZK3<@A'J,L3JT7![1TN49KW!18Z3-&<>*DD#&@+IE!W&]!"YNJ
M),+5=^3TR17OHE=]5*"^HW9<=JYIINVD 5M<X$?"%$2E9?F1\"/F*1&EJ)\0
M N66D[!L2NY9*E8E]U=?Z0)*JXCPI%TR97&4OXXS1(O$135]OC*<KQ[-P K"
M-?CGSV-2C>C3+=_Z_<+F]P\*R3ZQM-DUMZ1[U#/7)-2X$;=2>*2%'";$!"2/
MX)X_",T7D5B>0HS'.4S4X_N,/^*JCWN7;.5V5$CS:H:FG6LUL3*2>028=!PH
M3AZOXI4'@?XRO(G2(ZU^9S"0RL5@N;^N?M[=-$"^E)H_E-.,MZM)]*AJSQ_E
M874^+6Q(KT_>X;JV- (7+T/H0ARWT7A4\[7^/[G#$9[)JX-R_G2K>QVG0YZ=
MC=WEJ\DQ>[J(&>/U2:2!9F=RYZ=8MRQ)S#-@&^&+SGO-)B6CX5Q2(5+*6=P<
MQO3I.VS.0RPO'I!'?$7&^)Y,*!F34#38WR@;)3")$+POZ3R#IQV70U1E1KL>
M@]V-%K >#--52-!_$QQ':VB^(9^=M;/3&(6?[T.QG,+)S;+O$@!<LP@W;=:-
M?(<FG$?.N*1AG,&P<RXDBB*!R](RFQ%&C,0ON4W@%*[BY\,DG.(9^N6K_P-0
M2P,$%     @ #(%\3LS[>@.%%P  XD ! !4   !G;&)S+3(P,3@Q,C,Q7V-A
M;"YX;6S=75MSVSBR?L^OT/%YV:TZOF9F-TDEL^5+G/4I)U+926;>IF 2LC&A
M"!V0M*W]]0<@"8D$&Q=>9(&IFIHD0G<#W?T!;  -X/V_GA?1Y!&SA-#XP][Q
MP='>!,<!#4E\_V'OV^W^Z>WYU=7>OWY[]?Z_]O<GGW",&4IQ.+E;32ZSOTB:
M9).K..7\*;K'DS]^1W$X.3LZ.7DSV=\OF%Y]1<\TIHO5Y!Q%01:AE%<UN2;Q
MCV02\?_?H01/Q/_""?_]C[.;ZPD7%H>(A9/O1<,F)P?'!Z_.&995?SM;H)21
MY\E:]@5.R#UOW.3UP='!R<')ZS>O)W\[.3IZLR_^^W5R]/;=+Z__SH70.$5!
M.GEZ>CK([@HI!P%=\(+EBI'[AW3RM^#O$\YYLG]R=/QF4Q6)@X/_F9Q&T>1&
MD"63&YQ@]HC#5S-&PRPHVB]X]H^.]X_>3HY/WAW]\NZ7-Z]R2ZQ5Y0:/DW?/
M"?FP]Y"FRW>'AZ(M3Z\/*+L_Y/4>'_[Q^?HV>, +M$]B88H [TTX_;LD__&:
M!KD):^S/=RR2 EX?KNO24HA_[4NR??'3_O')_NOC@^<DW"N:Z"!_3RHC?H#4
M.7[[]NUA7KKWVZO)Y#VC$;[!\XGX\]O-58WE/J)W6;) C*1D@0_NV:&@.N0.
M2VA$0N'ZVY3_?X'C])PNE@P_X#@AC_B*XW6!KVF2\/:(NMZEJR7^L)>0Q3+"
M\K<'AN<?]NZCNR3WZ_%)H>Q_MY)_.*@6T_DEB;E["8IF-"'"J8-I ,GNTGI9
M4ZD&2AY.XU#\\?'_,O*((EY5PG_A?8%WDH"W0)1]17<1OL I(E$WGW2HIK]R
MWW&2X"CY@E.-10%4]-6T=YW]U;Z*'WE-E!&<]-5&)ZI_(V<,+]%J4<)@FCY@
M=LHME_9NLIO@_@J<!@'+<'A-T!V). U>5S=#*U%5;TU:UM!?I8^(Q3Q,2,3(
M.,/L]@&QWOW!*G, 3X0+$A,^CO"OZ"/^^+SD?6L Z]NE#M%5>:3%A\!2//=O
M,<CC<YKT[PHMI \PV-(5#QBEG7A=Q4@X78KXDB- EFA^[CWN#EC]"QJC1O=B
M-M#7.D!$ 89?_.-^&=&G 0.ZM<3^35X'5C<D^?$9Q=PX^;?Z[B\<B,XO3#GC
M+0C$$!S^E26\(6>4_CA'2Y*BB/PG#]_[>F\+K7A9TUP3'MJ%)%T)VI>TAK[B
MES7 2^H,J!EL9N-B,EYK 'Y.<1SB4#9!Z#;X9$VT@K<CHD&M[DC,;RFK:U]6
MG4]#R9PE^>PR+2?_A\6DFT]A_W$XSZ+H3T&Q^=M^0-F?&Y+<=OGO.070.EEU
MA.YP]&'/0)&25!@&HCCT0[T\ +3K:",K%=6226TKH#IE=<41"Z0T_M<&HNHK
M#"7%89(M%KFT?<+!)/GGC"[,?J'.*E5:_&X"D$]2.M&+RA(N@BX%-XKV)I2%
MF)7+:$]8+!/Q?_@"A1FC<Y)6UTE*YS<+2MM4"CQTL+;9+BZM,L-.//'<B9?<
M1NM8[52,^/FD3^M;"WW#Y3KZ72 !<#5MKUL-%QOF.ARTHL;4U2\PQSP/#41C
MR\!=P86!HK061+%;W]N\3%W4TH! (UM@ Y0)H^%U%0W[+>'0C/#$+S5?3N<7
M;'5!@Q^\D?FLW.!5+2W@WR;MJ#QM4[6?SP'IL/=_Z>/][0T&IPO*4I(8!@,#
M16E!B,)[B-C5:@\,4"8,AU\]A0.T4JD"PD0C(0'2^ \*!]4ZP *6"@/C'UOX
M2H -N,&1F(G/$$M77QF*$Q2(IJA?C4Z\)A1H><>)#D=3#(0:?6TPFM[X.<Q<
M+9:(,+'^(XQP@T6."8JF<_7W@-YS$^#P*BY,-F7 #'488:6?>@KS'L.#&JL]
MJ/M6#Z/\K9\H_X1(G&]6XHI&OS_@6.09<;=>Q;?974)"@MCJ2A"F"K*["R@=
MU$& ]PCN;93VJ.U2I69%X,C+)8%\#7.M?+$0!@=_#I35Y6 -I?<@<U>S/9J,
MLC6P\7,E28S?<:9"1/FUM)/\U7O7P\UO[^:U'(U+7_OL4J'7C=CE8UROZ?P6
MLT<2--:/W8CK - 1[P(7JJMI2Y5JH"@Y*Z[7"AG3:O$E%LD^YW2Q((E(MP9W
M",U$I;4T1)XXWDD%G<-US.!N$?^')[Z5B(0_]9K2TA1JJ??CNEF=]N-[0Q[D
M[/W6WM8M]!.& TZ<B"U+7E_>TCP#,C\=,2O25-45_U9,<NG?C<E[?W=2OL-F
M@&,U)3K^N15TJ&EYQVK4KI2KH;I:[+US+0IU",H; N57N6=_?I%036;GZN,S
ME:(9E*TI_-G#M[??L&L/,H\IFZ.:8*W&6T"1C+*J1?ZXTM!B@P_K7%O85G^1
MQ;]I_/$Y>$#Q/;X@\SE'(E>)_YBOWQ=Z.ZYT#RJSN4380Z8_0-N&C0P(':@Z
MAYP!/Y%]GBM\%5\BPKZC*,/3^06?[S[FFU9&_+IQ0BBU<'J*Q5;ZNB+.)A3*
M-EB',.\/E33OETW]ADZA^H'PXI"?NA%>^U'N<!<_>M(SSS/&1YT4;#Y8)E/4
M:V6[Z#]*LZBYO;7>45"(GJ&PC&F5C7\D0BR/9)9Z\*\%YCU9',Y4?.E(75K+
M1KV3[&W0N[2M:O5D[JI,@0>KK#$AI')\6LU_:);(9(9*B5=>UC?9[-$:WYCF
M<J4FP(%RAS';E:L^FENYO$)$-U7-:'&6Z3"Q] 9)]5LNFA=A-): W,C7ZT$6
M<J] TU(Y,UKLPL8T27,"AY/5Q@"$ =S?SNF_>NGT+S0.#)\377%IGT:Q'Q,!
M2ZLU<X$FUYC"A=L'LE2]5_M-;L+FO^W"3UJO4+BE-3>IS/EV:L$TII!\.I^3
M (O18@ELOFI*Y9:;4NJ;#\VMMWJSP3ZFWI>'B):QU$A3S8#T8E0U>MI!$[N_
M82%@).W/#JK 9[KB7_W*O5B*GTTDI7% $D\TU"NFUP=2XR7!:C0Y-;6\!E-(
MC(!JC7U,GYLR9-6[5$]07QG8M8,U?K4VO^9>Q:L0\PB=.Q,'2,6IXFL:WZ>8
M+<XH8_1)W'JG61NR,RC+0@:&'<[IS)APUQ*:Y,%0,<H<$W2@96YYJZ/#QH%*
M:M@U6)/Z!Y06FCE Q"QM3+&L7.<H[O^LW.=75<WZ26G-KFPL.K/[!ZR>%G ?
MCUK4,*;UZ@L\QUR#$#PW !>N[R"I%?H'#6/K'1RO\H]J?;G0:)-LLL[EL XF
M;CSU$<3"XQ\VNNCJ/E;8Q!K3?G8/GLU"@1XL1IK&BO6NP:!!@8L2IEF-AG],
M 8AU(F,-Z3V9J)A]21T4T:RBJ>L3(Y^.;!2;,?I(Q'&XY)*RCXME1%<8G^$8
MSXEA;\J)JS$ F+F\Q$LWE=U Y"Q[3$/)1JE684=;M@:V/ P^6H"K>PCB@"['
M0,3O#0!PR1]<Y/=R/1QLK]-2N.0<TR!PE2292-')+ZI7/ >6R5S(6MGN_%CU
MG*F]@ /S#,@ZRY@"@_Q0[(SA!<D6BN.@HG6*0Z7(#[<96JOQ6IUC3-WM1CP+
M$.-0OKVC.$Y7O$XG5(K]<*"EU1HG-KG<U^%>Y*A-_^?8_,#<B^4N>J#G-/XW
MBD- MWI!19^R8"=+7F:;4T/+ZVM;H!R9A2GYQ_1M.T.1.*B<_$[2AS,4_U#1
MJBTOS=,L]]._-CT<W0R(&=-'\?:!LE2LT5S@I3BYF)Q'*$G(G.#P-#$/6UU8
MUY%0"U8_X=-#>T=DM:O!ZP]X[^<__>@LVWYNPB/U9HPN,4M7,SZZI1R?NM3@
M5CR "?0\N^CV)O?1;LK6.CL@7WV%P2!W^"C"Z2D.D?Y\F?&)0IHQ[ @%!R[P
M>0X]E^=P<%>X+2",DMU#C1V,^KIGDOT8[88ZA=RGHYUE\0_,I-15N26N!MQ&
M(AEUPT2[Z#60^:BC&K7.41&41]H: 2\V+%YG=XP$?%A.+!ZS$\K]8#VA1YYS
M5L?D/9.0X2=,&@]^0LGYBI-Q^38?NI"N;_0QD'KDQQ8JF3QI%N/U/ 0X/U^<
M[_'P^^3S/0M^F$;>A;BY" 4VAIZNKCY M\-L/&<74G=%H;0\6SV57#U(_IB6
M-J5>X6.^9/>5WF;+943X. 8#QT"H9(4#A.."CEW5GM@!*QC32FE39>O0:QUE
M1P82O6H]P5$3['4$41YMJ&2?2-WDH1I_0XFQG9SQPVKRHU?ZUQQB*$1P?"&)
M=GGO3&M?-J,,6%?P:AK7VH!88UW+BTWSR]:>9B%)+S%.X/FAA4I>JJFA&IOK
MW;3M[7MM-2^V0E#,"44S4 1>E*&652_(6)>-S;TFS7H[51$^_(D_C2O7 TF2
M,1%Z7N P"U("G"5VH%1'<H!R;$YWUWJX,1VJ:HQG!<DC"7D@J3F;;J%2S@.J
M5"/%D47;H3#4K&9,U]HY7&S@<.S?MXL,NG]SS'H.\^EIU.'P6OGN)I@R)5=<
MBS_#+$^W]G!*N;G(_S1-&;G+4M'&KW3*0A(CMBIRC?]-([%+,)W/D'#!QSAM
MGE$90%()ESZ2/!D?Y.B6S!!14VG!LO5+9]6RW3X;T=V-U*RDYB6)UO45;YW5
MZG&87^SO,'V.KM ]K@QY13Z=^M!74J?S<-38QBN-NW[:2GDO$U;-0J5Y5G27
M;]CIG &\+^KP<)TB#7IHM/%:G:<'+2\S'&F<W"R1CJV4^.9,;:.M#JQR#O(\
MK&E-IC:V02$S2% -F.L$GKG!JH+-&Y  XY%EG[]C\,^=/V@#/37ZYXD**]UC
MHSM/;2S76>#NHBM>)SDJQ;OH*@;;4ZL&M;ZB2BH>7U'Y/?_HW. E(DQTF<^(
MQ+P;ZKWK0KH^TVH@]<_K+32S(L LR_/'SF_0TV>48D90E.0Q%(?S(E_<^)9@
M==KH1BP182;V$!-MM+.CPB)MD#M -%^C6TZHG1E!97)>5"OSST.FMEL=HC"#
M>P/^],O/) EP%*$8TRS) S+=X]ZE7]T92H,Y,/B'@-9:6F'A(M'SBP-_YY&P
M&&-N482 ,RBZXM)"C6+_O&[1P.KC)C^X4+_#Z<QIN" Q25+1]$>?E]W AJKY
M+"8:F<T"T@SQ\9MAEM XUJVLZ(KEPK]:O)/GGHP&I%8EZJ\_0<)$KV@*\7SF
MDN?R4);<X$46Y[V<QBKT#"02>1")EUYV4,;-T[ @SV<F7QEZU'5BL&QS1?^C
MY]W7U'PWCRH2/+]04*S,9S$)$'#Z6>:Y&$ADD@M$XJ5_'91Q<S,L:)"IBW;J
MF->%V4HW?=24KZ>0:KF7'K*IX>8>0(KG4X6OZ+EL:C[5^?J 8GE%RK-FJ'7G
MD .P X>7H&BOJN-@[2+7."/9/7#REI>-/5M]0>+^"&CK3$-2W3Q32;S$@H,R
M;LZ'!97>_N<VAO!\J3$24V"1]Z[[W!IHUM];B,9+;[FHX_K%!265_GKCRWJ!
M/-)2-O T#HN;IO$Y3;P\@EYMGIKK !3)9(=JD2<CH6+ZQH8H6+K>#ZV7[J(S
M@>:FMI;7>D]51+$'JK!ZOI @+E<4RX%D02+$SA\0NV^LFAIIUO=30C0^.=5%
M"Z-K-0*VF:-SNA!O$/XG;]!T?H'OT@N2!#1KGINS$LHE'SVA3\YRUL?H,9,4
MS]<)\EBIH@\48 +%U>"R6NR3;RUM-WJTR6M< =C%K=K059SB7M'+B#[Y$H+P
M.1?#*.&!4?'G50Q?F'J&YY3AC_,Y#M+I_.-SP.=K]_B&:W6>_ZUYQ]O <M?!
MPE!R/>G>:T!<\JXBLB"NXO5NW6G  W'PQH!63)4;P1V8=G.AUM!HH1V-I%S,
M-5"SY'WE+LUQ.8?OS]=I<TQ$W5)L%#1.$>WLYND6J* &31KW3-OEYEN,%7GC
M<O9I^%>6I/DU,I>4V6]K=J9?[W_;Z,>!F+9Z=P220S4N]SH,-4.QM4;$W<4K
MMA=L=4&#'UPA:.FCOR!7..D%_20X<[74M@!HJ-_EF@I?1[YB-IDXCWP&>A"J
M$/T8$6G7>Q#@@=6XW'HQT,@W*Z]6<QW@G.EEQ&2E'P<XVNK=-;ZR5^-RI86O
M@\_50IRL$/\2(>0-?L0L0=%TKOX>T/N8Y'8J LXI Z+T;8@&A[2>HL<!\"U:
M<Y"!LF^+7"[V\+7;?$(D%EI,XPN2+&FA=_R(2XJK^#:[2TA(\ESH_Z4D3K_S
MWS.6YTB?)@D5D4UC(6:K=8 =::@ZQMBCMF/?0;K68$V#^UB_G(B7ZF.;!\2-
MW:1)!B*]0C9&L&JU' 1O5>DP9."T#-\@8TB!L!."L '3(\8$'(.F@T"G+A\&
MS]M1@$>F6!2)@^;0%B2%0]4ZZ1@A9-1VF%!2J4&SD'TT"AQ]BQE&D8AX^3]X
M8V.YA2.^Z#@1WW;SX-1& (@Y)P%C1&('RPR"3[=Z-:@=Q_Y+?G7A'>(JSN '
M$US)040"Y&/$GU7K0= &U:+!EJ\GR]2U?+GC+?_\RE"(3X,\9TK[(% _(9IM
M&T<A8T1G1PL-M%WC6K<&R>/8JVFJJ7^8L@.G(V:AARW'#52]+;:$SEJ%&DCZ
M>G&)3;?*2WDM(0EP.D*RROES0%)OBRU!LE:A!I(CV51J9+I5/P;PTSP])&CF
MW2X2Q@C5+K89:);N5+$&NOTV=IS2A)H-E'NV8G<JSMIB3L/MB#>5^^? FMDF
M6\)9HU(-QK9RV-/6./LC<RUAYR[0$8D. G\.<+:VW);PZM(.#83'L=&2KW@5
MBU_3N$A+OXHO$6'?493EB7J,S_?$P5_['G=+.=I];%<Y8X1Z=SL-MA_M7+U$
MLJ^[/H 1BKWUEF=D#$SZ,S(0T\]\1L9NI!<](P,V9QMI[2\$7]XG\SS$..4>
MG\ZK:2%3EG]PSC).(6YH3\XCE"1D3G!XFK0$_!:J@;K(D-5X,LJ;+*#VF.U9
MV?81 "0T.M"@K1O72:59QO@ (PX@S!CEW\MT-8M0G/)A20Q)R_PD;JO.-9Q
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MVTU/NM.)@O2T?@5S,V,CT:6^!'#%U54S587>]T[Q6-3T*X#F>U$!Y2Q_4"!
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M*A";PH3L\79#QM_[/G[X-DR*$AV9\#%>>#@!BNGJ*9X>*5[Z')OK^-'_Z*G
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MW][IECEH!&MK%<ENQ2,@"1,( &D=8$)<BW\3;[N=DA6QBD@"D1-N9I0F%D!
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M_+G*<W"=S0F[!'J!JC\_XFWTC.[1"\HVG1,-&/'^(H.*.'3 &.EB +#HZN=
M<>7Y$M=W^76-LAP(E#:Q$B@[XM<)%(DNC@:4??T<*![=WOPCBZGL[.8ZBJML
M+ZB\J7X7;<M-SB.>UL=T'9^%35%^!F!2-'14]M#3$-Y^H]9PQ'KD4KM/GI<%
M7M#%8G4SH85*V6>>/J+].71T:>0= $'=&CE*7/G%;G%6+-/MP5F4VNH&)7C8
M84")T+%AKI4!X )J!$>03[ZSJ*#-FQ1E<L8J(TNY3WW$3 O;^A%^K9ATV_:?
MV97F/C3#TJ$#M9^VAO"EF3:(WX'SR('VR+0S6]1M;>%3_+%6:.MCZ.A2RCH
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ME/S;J^^^^?85@$F(%E&R^K=7OSZ>73Q>WMR\^E^S/_WK_W-V!GZ&"4R#'"[
M? \^[OXSRK,=N$ERK)\'*PC^_1]!L@ ?OOW^^W\!9V>%TI^>@J\H09L]N WF
M, :W4?(Y S'^WWF004#^9P%0 O[]P\,MP&:219 NP&]%E\#WWWSWS9\N4U@U
M^NN'39"GT5=06[V"6;3"W0+GWWS[S????'_^+^?@]????OLO9^3_?@#?_OC3
M^_,WV A*\B#,P9<O7[[9S0LKWX1H@V]L]VFT6N?@=?@&8,WOS[[_]KM_:9J*
MDO";M^ BCL$#$<O  \Q@^@P7?[I/T6(7%OTG.F???G?V[8_@N^]_^O;]3^__
MY4_T&=0_%3_J)/OI:Q;]VZMUGF]_>O>.].7+^3<H7;W#[7[W[M]_N7T,UW 3
MG$4)>10A? 6P_$\9O7B+PB"G?FJI?YVG<67@_%W=%E>"_'56B9V12V???7]V
M_MTW7[/%JZ*+"O9?53^&7&#]G.]^_/''=_3NJ]F? /C7%,7P 2X!^>^O#S?<
M)GY\1R3>)7!%/'X/TP@MKI,%A0YNE!C\*=]OX;^]RJ+--H;5M74*EVRC<9IV
M;)+?_"/YS=_]E?SF_\%NZIUUKQ_S(,T/U>]68S8]'[^[]GU\PI$!CM_15C,V
MO?T$#X"!NI&BIS'Y-PFSG3;AUQPF"[BH6B5V!4RGS=;\)591V+$7DVB$TN&/
MR+ ]:BN#X3<K]/QN :-W)#J2?YQ58;*(./\#7_KGQ09W#/]__C$.5I4]^B/^
M[17S7A[EI._=>^^J?M(LT^YI"C.T2T/8,TW_PVY<Z=ETW%KTB&UR$^,F23Z%
MR=FOCZ] M&!+SNH_ ?G[7XLFVC_K(NWZ($C#J@?XGY)>EQ+O0H3SRC8_Z_R
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MMG1;BZ<JTQ:9R!U4!E' T%XG1AP-81S6OM.B2ED*U61IJX.[)6@,@,("H"8
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M>#(,PG5Y(IX7UAI"$UG"IL=O/2,MUD^2&\[F&OVQ@N:6!M9W2U H@4(+%'[
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ME)P!Q";FD4]L?+A$FPU*'G%NAAD[X$G$JFC'$S/%LJ19RSC'MRZ +T]I1N^
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M7^[2=#BKJR):_D*AJ"'T59IW,U<K:8F/?:'B[#)(TSW!=GD:=9#12G(-P3S
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MD0).S&-%O(JXS#,A8;17M(]:Y(R/<T'!4ZF 4@?42B>.6*T:Z"@Q.WI5=(
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MWY)O!I=F04#MMG57I6D?X6X<]*-QH=<+CD[;: 7-$R2OVP+C6#E,"Y*&Q4M
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M %>;IV2(-Y#.P.]!>?7_^@2S8/I2ZK$^?!G3F"*G3@6PU4$0#T$^&)H(A0;
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MP5E)W$9TB2$B1)#3U<80WR,G)_E;>"SQHH04.F20D< M*/3F8PM8/.9!FA\
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MX0,N82_IO[*[Y#+(UA?)@OR'O&AY#F*R=+>/>',+%1\,+)BRQ;RSEEPR:EC
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MY3VMT\\'E!^H&B9QUMTF97?NFM.D;<;=!&*_[T(*=&0'7U7P@VSFLT?2YS9
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MP>H$(,G%GA!B RQ9/GFGY\)J.(!DD2=BK?IA'I,(UQ.2M"#PA7\"IUD0XU'
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M^%#V5!,RMD?@*Y4P(?.6[] 0;=G;R!AWZL#0W#$&W<"X;5AH&Q1AK9&;T3_
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M3R#]_F3JTPV!.Z;J@.I+A4X]FI4FJ_L$ZF>+T*',_9AH,7 9+GQ(TIQM@_G
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MY%@^$98RX0)19X)^RDB)T5__X^=7!"_I#(0W@(7UY[R#=9^:NLHC9*M(^L4
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M@CK)T;<_!9A0.6-@540"2#E5GC<WJ*]&YOJN>B.> C;D$8QXHA[P -$QZ7C
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M:8TGW+#DY@87106:LQHP"\>)+*UQBY2P?E74P_-LT^_[I_2;PMF:"Z@_JH$
M0RLS[ZJ=KS9J5VZ(!N)6-Q*/GF0;E T]?I%^B\#?6\"*V.M[:._Z<CHG$#.Z
MG0:6X"!G(>B,??B__#5<^ D#6UF@"@7<Z$/:;8;_B1/Q 4U3=G@X&[+[,W=A
M-[V'LG&K5C8^%*83QMAE5B^4-?(@)H:2CB]0@1'N!P92M+Q $#3/';K\@7HI
M8<LQ4"U"EG.HQCV]#%F"!_$!IYF=+KJ#.N9WNEE_F5TM!3;M',^R.@P;X/EG
MC85T)3M\'CJZI7-1)T>6H"*I/YB0Q-#D5,W969=$LMR0A RK]R(K"6 82KT0
MR.<<PEU$V2';MXJ=9D%.-,VRF7M2)KM%Z5:6C 36KMX%H>RK^];NV2*U*]G(
M&5B[O^AH=W(#KQO]_D*'V"1[1&^IK]BC!Y+G_):O97GJ[LNZT[?%N93+I'AB
M__>NO6N[^(B+,D_9G6CL!1VD#!_T*$=P<B*KJ71G)<NT))Z+'V!9.\^R"XHB
M>U:25^P!XO^O]QAU#-4[*N/D68\^1.T^)Z D3B$RJ@9H([)7-G!Q%N/VJJ4X
M#8=?X,2LX*<T6^^.&[;3/>\,9$U?A;@++R:KD-X4]=W:A>.R^+&:QN :668)
M?*6$_X%[FNP,1T[3,REV-VQ:/FWRY"L=T),<'8OD,<3NY:AL3#+*^'YMS.T
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MT4I%;A.O -UP$+'4K4S$+!5S%;707V.T+;":B:Y&!,%+P34*7P&0Y/;V9I^
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MP*_ @>A($_N2F W!6U@,;@\L6/;IT=>T?$(U.:KIOTO,0\)F*-3'$TSO<G+
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M<8>K&J CL$W2U9]$3F>([\F&[7R:2KP<X'*N%7^%</T._433D^)G=,!U">H
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MJ;I"0D8JN$7BA-3!W0&RYMW=)2%H 79UP EC=W< >]T N<WJ0U\J(=6D\-J
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M]@XZI>^PT9/M JULOE> 2T>5^*6.*KQ8CF2BWIN-"B?HW;4FFYI_O<[ XTZ
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MT0:5C7SFI=MAASA)MJW?@UC4:CP]X XOC= SW]GU#H3DJII"#YY?=P#-3)6
M]96C65>-P8*1);*GE9%_7GBPF3MK4OM20:\L@-FE!ZN"J7@1Z%*8Y]T,J8?9
M;2TOBME,3)]094R5J#7E,?7H$,K7VTQ7*%.)IXF$C%IY6+I*@DI";5XU2-5
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M]QI0BJ'045IBUJ!S-_SJ.U!C6=<NJ!^VLCD\;@Z8")$,&/0V^#4-:D6X+#I
MI^D10,*F:^E.$DI)4:%FQ993ZS#.T#%,#CZF<RC<J*9U..1X-J?%6RJF/YB4
MY$94];PRG6?/;55"U9&CF92PU>#^C#I8-('LU1(J)4%ZQ["#W2Y9 [&CB1/6
MKKE)56W#IF._+*2MM%56\O9KE^A22-C,5>,=']+G@II39D8;$: GDL<LTG-[
M*-Z2[,]M'&WK%KD(&C$;++%OH_<C1#%>/Y8*.OJ'N]GM,5]/;2G&ZS5XK_2.
M4)RBO.J@'9O>BS[0\D!;D Q]9MVTVN9H577E<W8:7X_(Q9#;MIZC=5=;X7^.
M<0#U J[,1LQD974-FJ[RE*Y#UTT]M[QRW7(<?;LAQ^]6..9.&_OC=>F:??]:
M;'K1G_[W/J7#]7*_P]DF3C>_9.1SL7U#=OLP[9Z%,: 4(Z^CM+1>!IV[.2?Z
M#M2F0]<N*!^BZBDJ'R/QW(.BF\B0#!CSMJII&M3*8@2.D>'^O,5)HD.YC* %
M[A:!$Z9E74% N<.W#\$M\@JX_$?O<)4*@_2/H@R<3;HN)N4R=3A/\#'>X2><
MQ63UAJ1YO,)T@N@@04=27>$N([&]REO3G1OH%)PU]W?+&@3L5U3^C.K??5S<
MK1,,,1G/SI7=$LK&A=TCRWB8C[XBT8&Y+?RLS7C2YG>U;S':E^*FJ^2"23_:
MAAE+R<RH\Y2C0UZ.4Y1A=I0K3%%XQ%FXP?S',(D."?N=WWR\3LCGG*^I8ZK$
M<<87W_M#1I?<./]V5B!2WOSN ",'2_8'*>AD_2'>;(ON<0'9(_'.K4>6:):Q
M=[-4'8YJS+8(@_)_J/RO!RQ)QYGHAJF-G"9%C1AH$4$;&BMA\:.A.(^R>%\=
M]#R6TLO*SZ<_1&2W(RQ(1Z)/WZ*'-$H.*VIN<!)O8KY(Y^[!D7";L^)_Y,Q2
MH9R:)XS(YQ2O?)@4<QBH3,B%@' #&!6R0\'-26FSZ2MM/5[VTG)Q5>E3_ ?.
M<YS(DQC5!)6;>DY@Z\ HNW)T465\-2[+.7G ?T/B1Y_'6C7B(/WCV/$ISN@:
M'L6(4@4-'#L+M_1&&^*=C525OJ*E7!W,R/V11SOO\#H\)/(C?#J2*L0B([$-
MLFBZ<PRSR#EK BVR!@'_%3VND?C=IU71RH:8#&DGYB*A;$1=1A8SJ'T!D3:S
M,:6\R4G>LQ*SRM2X"-HE86=+QQX_I'2U6]"/EJ?KZ&BJ9!TIC6VNAJY#QT0=
M!6M-@H:T15#^3)<]2#SPFJ*CE1 Q&M=.@H:,M)&>,;JX81-S8*3.DW)*N<<G
MN<],W,J,'">!NZR;LG!%5V)WX4O^AE S%RH2%WKIJE64DL[6[>[KV'%-I6&O
M\;Z5K0+Q"+%GJ'KH=:75*SEB/-8=_UQ%WG#3+P8'V,48+"KXTDR&BYG"0;E@
M P$$7 )T_@&O\(['4)^R.&);"Q&+UFZZV!K<3IXDK6D'DS?;_V*@B=3:[HR3
M:C5<SI)L<U03(TZ-:G+_&;@&P%#EY!ICJO((3)LKLW8]HA%Z%^7"N&3VNC'
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M%?\._[G'=+V='07BCL^K@'/*;.U^GNY@AK\Q/G9B,])C%R15%,8C-0)XC<.
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MTFA1:A;28A2'# @=Q$3DMB=&UA,##JB'6JB#(^@!P 6@+%< H3/-!"19$P8
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M <=IK^2F^RM-5<C6?+T9< 9_K."<)[_VS-4\SJ=-8[2UYZN37X=/]6H]= .
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M);5853;E)A[>H!6V)&DPWH4R##%P8;E7S7+<2)D[__:.%\%Y'QR@,;)M4DF
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MR\QMMYAN#DC,A9^<J'H#Q2?R$GH@@6T!3]29 ';COYU;A&&R1RMN@N)V8 R
MM J'D9%ZB2(-X:V%ODB[%"#*(*S?/'6T*.-0W?"F_&LP*4V598A+XR5\(.+:
MPHV@KQ(A9_3!G6-[+MR2"[?A?@)H\&OZ>@>5_\Q@3QVY!!,JY\<@VJ-[E.2>
MZA981#]78?3MG[T$CD)(:^'OG6XJ$/TR!8-SGY 0H55Z0V?E-DWW=)UP*[PK
MZ4Y/- 1T?H(,*+;%QQ:B_BK83>)]8UU.4]]_+QX<N$[<]V]#74/ 7&,LU5E@
M_.#BTZ"OT#J@FU*0-U5"V]G-\6B]Q)V.^/;W?-P^JWP'9[PT$KE6T3,=6YHE
M>W831@\X],R:X><(%?^3>5KRZ^&VJU6S6>5ZA3;S$FB&2K'FF@5W7\%O_&>]
MPC$_T6;I"XE69:*]J^#021!DTE8%1&[;::$1H)[!(<D?0X5+!VZ<U&NI?-N!
M.]G0C-K"#62M[;1P"5#/&4UE?0P5+B=QE_5;O&*OE(X[E#)4NWN\41.6LR(A
M]!*A8,%MP5'6H2!3EL']EE,.Q/RHQ6I*Y=Z%RV"'V9-Z3DDX%5UUHR&D<QV"
MW4)P0)%MI.N3]&6I:-.9(<0OOZ&FE,%HQ#)O2BB(\ *I["9B+@3&>>IYW:#G
M9!\D!_K++_3 \DIQ>Q\%89XREY]^%MS@&(2A;.#*9'.2TNI*"YCU6H): /<I
ME0=[".(-XGQW.G^O8K6/?_?NNR(2R<9WI,:[E@71I3D65'CD_%2?Z3%KG72F
MBTC'VZII4K4^SDZ[VHU#7_(+DF5DNUSGX^3.DX3BZ+CN4HPU:YQ4XFH!./-7
M2QS.;3\E0SR7M)]+VD^YI'T]QK!;B2P7:ZYZWV,ISE7OO=R4>E+UWJ'-TO5<
M]7ZN>C]7O?]JJM[/I='=JC'J16ET6[[8N52Q8Z6*1\_/[\B!HW-Q.U<-FZN&
MN;?=XB]\R5-0> /IY]3_9Z':BK 5C 'I>/3R9:*P-=Z+UORB[SE(F;AYOIN.
MR=1IU*[D)&_D)?2,%&*]NI.B<_.")N:ODL>TD\=DQ]?;740."%V@&*UQ)ZV<
M!4Y@RRKFY"7N[:GN?+98,J)YJSQ?ELV798Y>EET'2<R>1]V1-*U>-KMU_U6-
ML!J=8!FIR"K7AXC,$8O2'A_O0D]*(Y"S>2UW3M>P:EX(3*"60UC -7?:\+DY
M[P9NCUOD6E'2"2 PJH-$/L4<#,#<'%RV/!#XY*RXPE'N=+Q>K^D1I(P07>8#
M3I?'A.?+9(7C(#EPLS3T87'<4QBP< !9@J-D;WW(@=<Z.YKT9L][,<I.XH[$
MFR=Z &!ONCZ@S,%(FM&C0<;^P,P1"W/$PARQ,$<L]"\TMW].\0H'B0@)8H*J
MS%R7P,$8 Z48L$@"'IMAXP6NT"L)41"_+S_7=]GJBFSI=J/^AWT4A-5_/RZX
M\]B;S_$]O2F?$5 AF75B3R5-Z'3[+-['&_<UNM=5E(XWR:@)>7S!.Y9V@J4U
M6["=(WK-:\N64N$MINN(BTCC]E7B7NWVSB&PKPH@R#/HP]7+V'?YP:6V8KBX
M4E"5JA-1.8<1F#@0) @YF=]\NGV14QQ:T>HV7I-D6TSE,]EGIUQB@)L<?2:<
MJQP-)E[J4?5:19.#D09'<XSW1 NQH2KQ91A\1.W;,/!(G#_EZ$DE<M?WY&($
MZE%=_7U@J8UJV#6!P9#T8>W3%8//Z>5-0&&67UZCIW:">3X")I$IG)T#VM7N
M&Q@2$U3%O[L$?F)**:DU;/%ZXF/,(">R048R93KD=PGIE(H7_-JQ,,6O?D)"
M+N, MJ;LQE5_3S/%XV]QL"5)AE-6]2<-R;X;!0VEYV;JY-'[B2-=/5A#%J!C
M/M;&+_5UN4_8C-RS 9-XN:ZNI.562;-5=>4+;.4G^LQT8@V#X.[%&VTH$M\6
M2(S1AEW=V,,B#'LPO4X+6V?&DB9VQO=7M\&O^P4U;B^P;%/]PO;5TV#6SO@+
M?,:*0 JKIXM9[78MRSA5C)KJQ;KU-,;DWZ?@\N#M1Z0N$'@#R79R$BX2;4T,
MNHF$N5!T*HC*]H_.SM10Z;\T?.L]\W^Y$.)\@Q-F#%F0Q([*=AN'BWCUB*,@
M1LEM_(K2C/V<EF$2<RST' OM1.CK' L]QT(W .%T++1[80'+[ 5!#(:2KE26
MF,[!B&BH4+# : FW@6M;%)_NLNJ9+-X40%E5LY!0CC"3ZIDB.M(U)U3(/*]=
M(6/JJN="N&_COV^ 45>/'134KJ)#3TH-A"@9N^J;[6[Y949#2-:T&%TR5P$!
ME$O?5G X3BF\^/Q5UEP4F+M4YII@4ZD)=GO+MX4:30!UP8Y-7)ERCI74E]A:
M;; 3_RGEV>I?'<P% >;25^X>ZN?25_SY Y:^FL0N[7>$-R]TD[IX14D@0(&4
MIE0CG\8A)$"$D&-!P&%*WYSY2>#\)-#I2]P)/@ET;U\POP&<WP":#<6]^KOS
MHS\[V+@3/?JK'D+\X,Z<SX_UCEAP\;'>SV=\$2IRZ04X^1A$>RKF>Y)D&[J=
M7WU$:8JB](G<D2!>[K,T"V)VEW<11$$<H@>F@;:;KR>;RO5GRL9/3%K2FC7D
MFH^GVKJ=M1"&\A7J31"BQ983<"XCZ7S\:B1^P@P@[0 ?Q'I?%3PF\0+^-J9C
M0FEV'QPXQU7!KZ6>V[_Z"2BYC-:PU.FF@I%.A/8PG\U3/90K*M'A!K5A("8H
MM<0A\!,,2DFMX8'74P4)@[P'MA\_T:$NUY>T=YQ1VX>C/%?>%[S=GW:"E\&.
M_I(=VKMP@Z;5_ERGJ9\ ZZ$=>WMZK3&8.\)=K KV@'9%N;-TN3ZI)[^EQFN,
M5HOT!L=T+TC_N@@S_(I9C$_[FK,/CV/ M D//S%O0U_6P&\X&//@S@&/!%7Y
MA7N48++"85G)3^P34S7H'!>$#?Q$HK8F!CA*B'NN9=:R?'1,T)][%(>'3J_B
MHZ2R2?=H*6[B.UK VACBZ"GIN_;(TRYBH#"!8F-J@#@["D13_W;HJ6>/1-.+
M((H(B:L_D0MT'^ 5%!4 %BK R%A,#$MP;0T/,^E8JH/!#U/P@YU4\#[(]DGW
M6"LFZ&#W2. [,@62#H"[4T\5JLYZWA0ZQI)/*%NL_MBG&5I]0-GO),E>.LXQ
M&='10<8E\A,@((DM.LKXO57AFN/GA3P5CS[>)!5W!=2:%C=.+<C &U3O1=0-
M_(22MB;LI50!]%S9HO'30?(7P1/)'Z(OZ&BSE'>3K=M,:JTXS?P$G:%6!K9H
MO/XK&W?&+9:NC8.:-JA%\Q134+F'MU\GU$SB)<-)_.H&E:X-=!&DG1=4 ,K.
M5KU+Z2?\X+(/L'GG=#FEMS2UH/#<9!>G8#@:0:TZR)2W\AVE.CH9 +&*[FM9
MP&U\._/O^AT.GME-*T;I$VGN !2;.-/FI?JTF_N)K9Y:L@8R_7%4IXSQ4X+<
MX3_W>(6SPQ.Y)'%*(KQBF2YNXQ5ZIO_&]%C$ ZANLV.T!["9GX TU(K%* ]H
M_Q4 Q\]<5.Q@E^MK.G0V\ OT$+#,O"W J<BJ^J@B,C\!!93:&H#$_56 .6-"
M9"E@KLH1T"/T"VI>5W"1 Z!O0$A&[S.6X'JP#"IIQ]79P87O83=0[@J%"0I2
M=$-[QJ^(F5%  *2DE23VD=?*3[R9Z630B$=N]Q7VSNCQ'>[@^OA"DDSZ8DY"
M4>7[XU#X"4&UK-;@QNVJ@M89=UE#/ALI%D^UB&[C*JPMS_.4UMY6M2!GT/+X
MW 3>TD^(FNO&XC,5C2%4D!Y_']@<Y"7=4:#5Q>'W($F";CPLC+C4K(+83Z!I
M:< :ME2]5G :_R'Q]1>4A/2L<Y_@D,I9 [T 4O &54)]=0,_H:6M"6OP@O1<
M0>R,C^[.?34&NA4#78AYBD"0Q -?@YV0YN9;OJLD^!ROR.>X.(^G[_=1AG=1
MYZF345O9B5;8UD^L]='/L*=;\2!J&<@=,62_Q2LVW*-XI1#=EW=JPE*W$D(_
M@0:6W!JJ9#U6$#*(2XI<^H+>)R1$:)7>T&DR?0W:BT<Y:68\_$2R#7U9 [GA
M8"K\CQ][?!KT%5H'U,B#MH(2VLZ.D$?K)_)TY!]@?\CMM$+2)"*EW@4X3N](
MGO ]OGQAB79OXUH>IBN4IWC'KQTC:M"RG"B=EG["UEPWUD"L-80*TN/?WS4K
M_5Z2^!4E&7Z.4/$_4RIU[BQH@5&W6973%-K,3Q@::L4:!N']5P <_]F&<,Q/
MM%GZ0J)565GL*CAT$NV:M%5!D=MV8G@$Z&=X4/('42%S_$@KP&HJ70:X4SC
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ML<Z8DX%%DZ+'C(2?'G<15N\>I&QR#N(O"J"MN[CJHP/3;Q"DHUK=0>_].YV
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MLBY7&4?-RL4/55<=]39V&C9&A$HY7/0$-6IRS>TH+<6<;K9H4<S6J(!T>-
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MCLM6D(B0;(@D%!0 0=EZB0P 4 G+!OG);1_]S>4MRC-^528\$J$P$26-V$V
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M+3(P,3@Q,C,Q7V1E9BYX;6Q02P$"% ,4    "  ,@7Q.9EZ_8UH. 0"(5Q
M%0              @ $R, ( 9VQB<RTR,#$X,3(S,5]L86(N>&UL4$L! A0#
M%     @ #(%\3LY%S<"LA0  &HD) !4              ( !OSX# &=L8G,M
F,C Q.#$R,S%?<')E+GAM;%!+!08     !@ & (H!  ">Q ,    !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
