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FreeSeas Inc. (FREEF)

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Last Post: 1/17/2019 4:59:03 PM - Followers: 250 - 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 9/28/2018
Authorized Shares
a/o 9/18/2018
Outstanding Shares
a/o 9/18/2018


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
Website: http://freeseas.gr/
Phone: 011-30-210-452-8770
Email: info@freeseas.gr
Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
PlusOneCoin Top Posts
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#17125   https://parkercitynews.com/how-will-investors-react-to-freeseas-inc-freefs-techn Marlo1978 01/17/19 04:59:03 PM
#17124   https://whatsonthorold.com/2019/01/16/what-next-for-freeseas-inc-ordinary-shares Marlo1978 01/17/19 04:55:59 PM
#17123   I bought this stock back when it was Freefstock 01/16/19 12:07:08 PM
#17122   Over $1 soon that's what's up:) luckyhope 01/14/19 04:32:10 PM
#17121   Lots of buys everyday now I wonder what’s up? Marlo1978 01/14/19 03:45:06 PM
#17120   lol not good? Then why everyone is buying? luckyhope 01/14/19 01:34:18 PM
#17119   Website has been down for awhile now, not Top Penny 01/13/19 08:41:29 PM
#17118   What is the China deal? Lawman97532 01/12/19 09:56:01 AM
#17117   Post link to contract and other information you bigtimetrader 01/08/19 03:48:56 PM
#17116   When the contract with China goes true this luckyhope 01/04/19 03:22:57 PM
#17115   001? I think 1 dollar soon , maybe luckyhope 01/04/19 03:21:03 PM
#17114   .001's on the way. Top Penny 12/10/18 05:27:08 AM
#17113   Curious to see how much the share structure Top Penny 12/02/18 07:45:27 PM
#17112   Website is down and has been for awhile. Top Penny 11/30/18 02:33:56 PM
#17111   Is this headed back to the trips? Top Penny 11/30/18 02:32:38 PM
#17110   It’s quiet in here >.> really quiet Marlo1978 11/23/18 01:55:50 PM
#17109   It’s quiet in here >.> really quiet Marlo1978 11/23/18 01:55:45 PM
#17108   Million share bid at 29, someone should tell bigtimetrader 10/25/18 03:45:22 PM
#17107   I sincerely doubt this stock will ever see Top Penny 10/23/18 06:55:03 PM
#17106   Lol he might have bought my shares FastBuxJones 10/23/18 05:16:34 PM
#17105   It probably just one guy who bought a bigtimetrader 10/23/18 05:14:08 PM
#17104   Headed back to the dock .. Prepare for FastBuxJones 10/23/18 12:05:34 PM
#17103   Setting sail FastBuxJones 10/22/18 12:27:35 PM
#17102   Greece news: https://greekcitytimes.com/2018/10/22/greece-set-to-expand-its-terr bigtimetrader 10/22/18 11:00:17 AM
#17101   Boat will be leaving the dock soon FastBuxJones 10/16/18 03:35:48 PM
#17100   Im open for my targets till mid of KIKU 10/16/18 12:34:33 PM
#17099   We will come back to the board to FastBuxJones 10/16/18 12:26:13 PM
#17098   Yeah i know that buddy my eyes are KIKU 10/16/18 07:29:43 AM
#17097   I completely agree with you. .If you have FastBuxJones 10/15/18 04:58:31 PM
#17096   Dont worry coming here for sure IMO .... KIKU 10/15/18 04:43:54 PM
#17095   Needs way more volume FastBuxJones 10/15/18 03:51:29 PM
#17094   Got my eyes on this one . . FastBuxJones 10/05/18 11:52:57 AM
#17093   Well its 32 million now. Bigstud is here 10/04/18 02:38:43 AM
#17092   Financial restructuring will put FREEF back in the bigtimetrader 10/03/18 02:54:38 PM
#17091   This stock will be a buck a share bigtimetrader 10/03/18 02:53:55 PM
#17090   From what I here 4 cents is around FastBuxJones 10/03/18 12:44:14 PM
#17089   What’s happening here :-) lordgod 10/03/18 11:08:45 AM
#17088   Strong Buy recommendation!! Came to me from a FastBuxJones 10/03/18 10:35:41 AM
#17087   REVERSE SPLIT AFTER REVERSE SPLIT POS SCAM! mikekrane 10/02/18 10:38:50 PM
#17086   It is hard to make any REAL money Top Penny 09/29/18 05:41:39 PM
#17085   There’s also the no ship shipping company thing... Don 09/29/18 01:20:45 PM
#17084   Only problem here is all the convertible debt! Top Penny 09/28/18 06:45:56 PM
#17083   Shipping industry is definitely getting some attention. Nearly bigtimetrader 09/25/18 05:19:31 PM
#17082   I meant 2M bought up... DialedIn2Trade 09/25/18 03:36:49 PM
#17081   WOW!! 1M bought up in 6 minutes from DialedIn2Trade 09/25/18 03:35:26 PM
#17080   in the billions, with convertible notes outstanding, OS bigtimetrader 09/25/18 02:56:03 PM
#17079   what's the AS here? yankees18 09/25/18 12:45:27 PM
#17078   Shipping stocks are bubbling today, even FREEF got bigtimetrader 09/25/18 11:56:58 AM
#17077   There are none, least of all any belonging bigtimetrader 09/12/18 12:54:39 AM
#17076   FREEF is headed in the right direction, find Top Penny 09/10/18 11:35:06 AM