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FreeSeas Inc. (FREEF)

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Last Post: 5/22/2018 10:38:27 PM - Followers: 259 - 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 3/26/2018
Authorized Shares
a/o 2/09/2018
Outstanding Shares
a/o 2/09/2018


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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PlusOneCoin Top Posts
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#16991 Wouldn't it be awe BBCooperStock 05/22/18 10:38:26 PM
#16990   Maybe, but their latest filing says otherwise... The Company Don 05/22/18 09:01:40 AM
#16989   After how many split. This Rhinoceros dung is akika 05/22/18 05:52:37 AM
#16988   2 vessels on their new website- redsky7 05/21/18 08:09:59 AM
#16987   I heard they sunk one of their ship Bigstud is here 05/21/18 02:07:24 AM
#16986   Did you see all the convertible debt in Top Penny 05/20/18 08:55:16 PM
#16985   I looked at the most recent 20-F, they Top Penny 05/20/18 08:44:12 PM
#16984   They R/S the common so much so that redsky7 05/17/18 11:40:52 PM
#16983   If this company can just lower the A/S Top Penny 05/16/18 07:28:13 PM
#16982   I love it here.. . in and out FastBuxJones 05/09/18 10:58:02 AM
#16981   day traders trying to make a redsky7 05/01/18 11:14:57 AM
#16980   now 4 million shares, last week less than joever 04/30/18 09:31:18 AM
#16979   SCAM mikekrane 04/25/18 07:01:26 PM
#16978   Yep! .000001 CarlCarlMcB 04/25/18 09:49:59 AM
#16977   Should be back to trips here in just mrpennystocks 04/24/18 06:17:44 PM
#16976   The following is great news for FREEF, the Top Penny 04/17/18 11:17:51 PM
#16975   Shipping industry is picking up. The only thing Top Penny 04/17/18 11:09:58 PM
#16974   But if it a scam it dont matter. Bigstud is here 03/30/18 03:33:54 AM
#16973   Yes I've been there quite a bit. Top Penny 03/29/18 02:56:08 PM
#16972   did you go to redsky7 03/29/18 02:55:11 PM
#16971   Yes, I've emailed them half a dozen times Top Penny 03/29/18 02:51:16 PM
#16970   go to and redsky7 03/29/18 02:40:55 PM
#16969   It's a real company that used to trade Top Penny 03/29/18 01:45:59 PM
#16968   SCAM mikekrane 03/28/18 08:36:02 PM
#16967   It is a useless stock. I'd run from xxassaultxx 03/28/18 05:46:04 PM
#16966   I'd like to know what the share structure Top Penny 03/28/18 01:28:43 PM
#16965   More folks need to email the company and Top Penny 03/27/18 11:19:07 PM
#16964   Hard to believe they still allow this to xxassaultxx 03/27/18 03:11:50 PM
#16963   .0001 CarlCarlMcB 03/19/18 07:50:05 AM
#16962   glad i averaged down joever 03/14/18 09:55:52 PM
#16961   What was going on with FREEF today? No Top Penny 03/14/18 04:43:05 PM
#16960   Lol .0001 CarlCarlMcB 03/14/18 10:15:32 AM
#16959   Management should be imprisoned! Top Penny 03/10/18 02:50:45 PM
#16958   Clear !!! Free falling !!! .001 :) CarlCarlMcB 03/09/18 03:52:47 PM
#16957   One of the best blackholes for your cash... FloatinGator 03/09/18 02:18:01 PM
#16956   Garbage Management Team- Market Cap = $31.9K FloatinGator 02/27/18 03:44:28 PM
#16955   .0001 CarlCarlMcB 02/22/18 10:19:31 PM
#16954   prolly won't happen, their toxic lender will be FloatinGator 02/22/18 01:56:52 PM
#16953   I wonder what happens when you're down to mrpennystocks 02/22/18 01:46:50 PM
#16952   Toxic debt lender's ATM, stealing money from shareholders FloatinGator 02/22/18 12:50:37 PM
#16951   I went in light here since rs but strinh4000 02/21/18 06:55:07 PM
#16950 FloatinGator 02/21/18 03:37:15 PM
#16949   They have "1" boat. Just One... "FreeSeas Inc. FloatinGator 02/21/18 10:13:03 AM
#16948   Who is buying this with the company's history Top Penny 02/20/18 10:09:45 PM
#16947   I doubt it but dreaming over 50¢ someday Bigstud is here 02/19/18 07:04:27 PM
#16946   Offshore scam good luck this junk will just mikekrane 02/19/18 05:53:53 PM
#16945 wonder if they could help stop the madness... FloatinGator 02/16/18 12:33:16 PM
#16944   Very nice 40% dip to start expecting trips mikekrane 02/14/18 09:26:11 PM
#16943   Down this pos goes back to trips mikekrane 02/14/18 02:22:03 PM
#16942   it continues. FloatinGator 02/14/18 09:52:50 AM