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FreeSeas Inc. (FREED)

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Last Post: 2/21/2018 6:55:08 PM - Followers: 269 - 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
Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
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#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
#16941   I don't think there are many people left stockstalk09 02/13/18 04:39:37 PM
#16940   Considering the post RS price should have started Don 02/12/18 04:51:01 PM
#16939   Interested to see if they dilute this into Top Penny 02/12/18 03:26:08 PM
#16938   Drag a knee ! .0001 CarlCarlMcB 02/12/18 10:42:26 AM
#16937   Google, basic DD do a search. Marlo1978 02/12/18 08:31:49 AM
#16936   Where did u get this info from? Bigstud is here 02/12/18 01:50:15 AM
#16935   Yes it is a SCAM! I wonder how Bigstud is here 02/12/18 01:37:03 AM
#16934   Yes I’m positive. It will go back to Box Money 02/10/18 09:12:50 PM
#16933   Are you sure that they will not change Ashly 02/10/18 08:02:33 PM
#16932   No no, after 20 days they change the Box Money 02/10/18 02:03:15 PM
#16931   Scam mikekrane 02/09/18 08:15:15 PM
#16930   Man, that's some funny shit right there... Don 02/09/18 05:14:54 PM
#16929   freef changed it's name to FREED and did Ashly 02/09/18 03:39:37 PM
#16928   On February 26th they reverse the shares back Ashly 02/09/18 03:32:37 PM
#16927   Uhhh, no... Please explain what you mean by Don 02/09/18 01:26:48 PM
#16926   Investors contact the company to know more about Ashly 02/09/18 12:59:07 PM
#16925   shares will change back to it's original quantities Ashly 02/09/18 12:54:12 PM
#16924   In .15 Cents... Yesterday zino 02/09/18 09:45:17 AM
#16923   R/S !!! More you buy more R:S CarlCarlMcB 02/09/18 07:32:57 AM
#16922   Scam mikekrane 02/08/18 07:44:52 PM
#16921   Exactly Rome Ferrari 02/08/18 03:18:46 PM
#16920   They will likely release some BS news to FloatinGator 02/08/18 01:58:23 PM
#16919   You had to pay to get raped? FinsDontRule 02/08/18 12:14:06 PM
#16918   This happens every time after a reversal split trglaa 02/08/18 12:06:57 PM
#16917   Something fishy very fishyyy Rome Ferrari 02/08/18 11:12:16 AM
#16916   I didn’t get the value in both number Rome Ferrari 02/08/18 10:17:24 AM
#16915   become a toxic lender. loan the company money FloatinGator 02/08/18 10:04:50 AM
#16914   .0000000000001 CarlCarlMcB 02/08/18 04:54:43 AM
#16913   BIG TIME SCAM HERE!!! JournalJack 02/07/18 08:23:41 PM
#16912   SCAM mikekrane 02/07/18 06:47:03 PM
#16911   This would be a great short just mikekrane 02/07/18 06:46:17 PM
#16910   .0001 R/S ! CarlCarlMcB 02/07/18 05:56:51 PM
#16909   The last RS just happened. Closed today Don 02/07/18 05:54:54 PM
#16908   Yep R/S coming! CarlCarlMcB 02/07/18 05:10:04 PM
#16907   WAY UNDERVALUED HERE! 900% INCREASE TODAY BUT COULD Hyena Gott 02/07/18 04:01:55 PM
#16906   I saw at least five RS myself ROBOTICTRADER 02/07/18 03:41:22 PM
#16905   would be a heavy volume day pre-split... FloatinGator 02/07/18 02:17:33 PM
#16904   I think we shareholders should gather and find KIKU 02/07/18 01:06:38 PM
#16903   Class action lawsuit .. coming soon to freeseas Box Money 02/07/18 12:10:25 PM
#16902   That's what these filthy Greek-bag bastards have done stockstalk09 02/07/18 11:15:33 AM