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Created: 02/25/2008 01:42:15 PM - Followers: 233 - 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

Contact Info
10, El. Venizelou (Panepistimou) Street
Athens, J3 10671
Phone: 011-30-210-452-8770
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lol good riddance mrpennystocks 08/18/2022 04:39:37 PM
Yes - RIP FREEF splintered sunlight 08/18/2022 12:18:44 PM
FREEF: SEC registration revoked: Renee 08/18/2022 09:48:34 AM
Thanks Interesting read - unfortunately they caught one of splintered sunlight 06/08/2022 11:00:27 AM
#17238 FREEF mentioned on jhnvtjll 06/07/2022 11:11:08 PM
Technically there is life but it is microscopic IMHO. splintered sunlight 05/16/2022 02:36:44 PM
Is this stock done for good or is Goldnuget 05/06/2022 10:17:27 AM
#17235 FREEF SEC Suspension for severely delinquent Financials: Renee 05/24/2021 09:37:01 AM
#17234 People dumping this Greek scam because it will PStockPickz 03/05/2021 03:53:11 PM
#17233 YES MORE PLEASE!!! Spaniard88 02/14/2021 09:42:29 PM
#17232 That would be something! up up lol Bigstud is here 02/02/2021 05:26:47 AM
#17231 Maybe we can get those Reddit people to cuteandwitty 02/01/2021 07:03:57 PM
#17230 But but, I love this stock. Bigstud is here 01/30/2021 05:56:28 AM
#17229 Its slowly going up. Stay tune!!! Bigstud is here 01/30/2021 05:53:25 AM
#17228 Looking nice so far. .016 high Bigstud is here 01/28/2021 02:18:46 AM
#17227 Maybe today closing price .005? Would be nice Bigstud is here 01/22/2021 03:30:11 PM
#17226 Touch 1¢ today. Lets keep this going! Bigstud is here 01/20/2021 04:00:25 AM
#17225 Company is just a shell now and will Top Penny 01/17/2021 03:43:49 PM
#17224 There is the off chance u just might Bigstud is here 01/14/2021 02:58:28 AM
#17223 I've been holding a bunch of this for cuteandwitty 01/13/2021 01:16:43 PM
#17222 Just me and freef this year. Im sure Bigstud is here 01/13/2021 07:10:18 AM
#17221 Gooooo Freef! Starting to wake up. Bigstud is here 01/11/2021 10:19:06 PM
#17220 Closing price today .005 one would think. Bigstud is here 01/07/2021 01:08:43 PM
#17219 Slowly inching up then boom! Bigstud is here 01/05/2021 12:39:11 AM
#17218 Need to file a 15-12g or get current Top Penny 12/12/2020 09:33:44 PM
#17217 Got a little bit more volume today. Bigstud is here 12/08/2020 05:12:04 AM
#17216 Authorized outstanding is insane. Top Penny 11/19/2020 09:27:29 PM
#17215 Wonder if the bank in Greece ever forgave Top Penny 11/19/2020 09:26:39 PM
#17214 They need to file a 15-12G before getting delisted. Top Penny 11/19/2020 09:25:56 PM
#17213 Do you know if the company is still Top Penny 11/19/2020 08:11:42 PM
#17212 This is still operational, they will be current Top Penny 11/17/2020 05:22:06 PM
#17211 Hope u bought some. Lets get this going Bigstud is here 11/12/2020 12:49:52 AM
#17210 Everybody is entitled to dream. splintered sunlight 11/02/2020 03:37:52 PM
#17209 Someday BOOM! over a penny. Just a waiting Bigstud is here 11/02/2020 12:19:23 PM
#17208 Stinkiest stock in all Of pinkyville mrpennystocks 10/30/2020 05:00:26 PM
#17207 Stay away from this POS. splintered sunlight 10/27/2020 04:20:38 PM
#17206 Company has the same pattern for 15 years Screw mrpennystocks 09/23/2020 06:04:50 PM
#17205 Share structure still nice. Top Penny 09/14/2020 09:19:40 PM
#17204 I wish management was more responsive. Top Penny 09/14/2020 09:19:29 PM
#17203 When will the website ever be back up? Top Penny 09/14/2020 09:19:18 PM
#17202 Going to start adding here. Top Penny 09/14/2020 09:19:03 PM
#17201 Freef still looking good low today .0025. Bigstud is here 09/11/2020 03:33:12 AM
#17200 Good time to BUY some! Bigstud is here 07/30/2020 05:43:32 AM
#17199 Something going on here. Time will tell I guess. Bigstud is here 07/20/2020 05:13:15 AM
#17198 We need news! Top Penny 04/23/2020 01:44:42 PM
#17197 I already bought whole bunch of these. Bigstud is here 03/27/2020 05:03:09 PM
#17196 R you sure you want to miss out trendzone 03/27/2020 02:31:36 PM
#17195 R u sure u want to buy some? lol Bigstud is here 03/27/2020 02:15:31 PM
#17194 I might start acquiring this ticker by the Top Penny 02/24/2020 10:45:54 AM
#17193 Can't be to many shares outstanding here. Top Penny 02/02/2020 04:23:23 PM
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