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FreeSeas Inc. (FREEF)

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Last Post: 11/17/2017 5:23:26 PM - Followers: 280 - Board type: Free - Posts Today: 0

FreeSeas, inc. (FREEF)

FreeSeas is a premiere, global commercial shipping company transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.

With a dynamic management team focused on shareholder growth and an active presence in the capital markets, FreeSeas has positioned itself to capitalize on the emerging drybulk industry.

Vessel Employment

A spot charter and a period time charter are contracts to charter a vessel for an agreed period of time at a set daily rate. Under a spot charter, this daily rate can either be a contract to carry a specific cargo for a per day rate or a per ton carry amount, depending on the agreement with the charterer.

Under spot charters, FreeSeas pays voyage expenses such as port, canal and fuel costs.  Under period time charters, the charterer pays these voyage expenses.

Under both spot charters and period time charters, FreeSeas is responsible for vessel operating expenses, which include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. FreeSeas is also responsible for each vessel’s intermediate drydocking and special survey costs.

The exception to this practice is known as a “bareboat contract”, whereby the charterer is responsible for the vessel’s maintenance and operations, as well as all voyage expenses as explained above.

Vessels operating on period time charter provide more predictable cash flows, but can yield lower profit margins than vessels operating in the spot market during periods characterized by favorable market conditions. Vessels operating in the spot market generate revenues which are less predictable but may enable FreeSeas to increase profit margins during periods of increasing drybulk charter rates.

However, FreeSeas would then be exposed to the risk of declining drybulk charter rates, which may be higher or lower than the rates at which FreeSeas chartered its vessels. FreeSeas is constantly evaluating opportunities for period time charters, but only expects to enter into additional period time charters if FreeSeas can obtain contract terms that satisfy its criteria.

Finally, FreeSeas may from time to time employ its vessels in carrier pools.  These pools, operated by third parties, bring together vessels from one or multiple owners to service the needs of charterers.  In this arrangement, voyage and operating expenses are paid by the pool manager, and FreeSeas would be paid its “share” of the voyage revenues on a predetermined schedule.


FREEF Security Details

Share Structure

Market Value
a/o Nov 14, 2017
Authorized Shares
a/o Oct 18, 2017
Outstanding Shares
a/o Oct 18, 2017


Financial Reporting/Disclosure

Reporting Status
U.S. Reporting: SEC Reporting
Audited Financials
Latest Report
Fiscal Year End
OTC Marketplace
Pink Current

 Verified Company Profile 9/01/2017
Contact Info
10, El. Venizelou (Panepistimou) Street
Athens, J3 10671
Phone: 011-30-210-452-8770
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Current Price
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#16772  Sticky Note FREEF 1 for 2 RS is possible. xZx 11/13/17 12:00:11 PM
#16768  Sticky Note ratios  within  the  range  from  1-for-2  up  to  1-for-20,000 legiontrade 11/13/17 11:16:46 AM
#16758  Sticky Note 1-for-20,000 (the “Reverse Stock Split ZipCash 11/13/17 10:43:20 AM
#16827   Vote NO to all recommendations made by the company. kingjones 11/17/17 05:23:26 PM
#16826   BIG TIME SCAM HERE buxcapital 11/17/17 03:27:37 PM
#16825   Yes, but 100 million shares out of 3 Top Penny 11/16/17 01:13:55 PM
#16824   1/30 of the OS can't out vote the Don 11/16/17 01:08:06 PM
#16823   Jabro Funding can voting NO if they dont Anty_Jr 11/16/17 01:00:56 PM
#16822   I see Jabro Funding owns over a hundred Top Penny 11/16/17 12:41:36 PM
#16821   So what does that mean, I'm not following Top Penny 11/16/17 12:24:39 PM
#16820   Form SC 13G - Statement of acquisition of Anty_Jr 11/16/17 08:40:25 AM
#16819   Interesting article on FREEF just letting some know Top Penny 11/15/17 07:41:18 PM
#16818   A lot of people got burnt bad here, Top Penny 11/15/17 04:24:59 PM
#16817   There will be bid again one day lol Joecanada13 11/15/17 03:26:59 PM
#16816   I still don't know what those traders were Top Penny 11/15/17 12:44:49 PM
#16815   I'm kicking myself. I bought at 0.0002 FinsDontRule 11/15/17 09:48:30 AM
#16814   exactly. the SEC is not out to protect MakinBank 11/14/17 10:47:53 PM
#16813   Why are you even still giving these guys legiontrade 11/14/17 04:52:10 PM
#16812   The amount of convertible debt on the books Top Penny 11/14/17 04:45:51 PM
#16811   Well, this stock has always been a stock FinsDontRule 11/14/17 02:40:33 PM
#16810   What the hell this stock was over 2 KIKU 11/14/17 01:42:38 PM
#16809   And that's why their all nicknamed gyro chocker's, stockstalk09 11/14/17 01:08:32 PM
#16808   This stock looks like another R/S Donkey. What Ivegotanace2 11/13/17 07:57:35 PM
#16807   I really don't understand how all of these Top Penny 11/13/17 07:18:30 PM
#16806   I just looked at the most recent 20-F, Top Penny 11/13/17 06:41:20 PM
#16805   I look for at least a 500 to Top Penny 11/13/17 05:47:52 PM
#16804   Bears are just being honest, reverse splits never Top Penny 11/13/17 05:33:31 PM
#16803   Don't feed the bears. They have been chewing FloatinGator 11/13/17 03:34:55 PM
#16801   Aw, don't be mad. It's just the FinsDontRule 11/13/17 03:25:20 PM
#16800   And if you’ve been trading for 30 years, Box Money 11/13/17 03:11:33 PM
#16799   I am not talking about that! I’m talking Box Money 11/13/17 03:05:30 PM
#16798   In thirty years of trading, I've never seen FinsDontRule 11/13/17 03:00:19 PM
#16797   I’m not talking about what can happen after Box Money 11/13/17 02:59:38 PM
#16796   I've seen it for a few, but I legiontrade 11/13/17 02:55:34 PM
#16795   Not true, most pinks don't rally after a Top Penny 11/13/17 02:53:27 PM
#16794   Yes, I sure have, and the morning after Box Money 11/13/17 02:53:14 PM
#16793   Let's not forget that even if it goes legiontrade 11/13/17 02:52:43 PM
#16792   Have you ever been n a reverse split ZipCash 11/13/17 02:47:29 PM
#16791   You are full of crap, you do not Box Money 11/13/17 02:44:57 PM
#16790   You automatic lose 50% to 80% of ZipCash 11/13/17 02:40:32 PM
#16789   That's exacly my point - thank you - ZipCash 11/13/17 02:37:41 PM
#16788   Whoa whoa whoa, now you’re talking about what Box Money 11/13/17 02:37:29 PM
#16787   Reverse splits never work out good with pinks, Top Penny 11/13/17 02:34:05 PM
#16786   Capital Change=shs decreased by 1 for 5 split ZipCash 11/13/17 02:31:47 PM
#16785   Watch & Learn ! check just a six ZipCash 11/13/17 02:30:09 PM
#16784   Are you that much of an idiot? a Box Money 11/13/17 02:25:51 PM
#16783   My thoughts exactly. legiontrade 11/13/17 12:38:45 PM
#16782   they had no clue about r/s xZx. you ZipCash 11/13/17 12:36:45 PM
#16781   it's binary, it either runs or it doesn't. xZx 11/13/17 12:33:46 PM
#16780   It's called twitter,facebook,mail newsletter promo, to get investors ZipCash 11/13/17 12:31:26 PM
#16779   Anyways All shipping stocks are running hard this KIKU 11/13/17 12:28:00 PM
#16778   You don't actually believe someone dropped 30-100k in legiontrade 11/13/17 12:24:52 PM
#16777   big buyer probably knows it will be a xZx 11/13/17 12:23:36 PM