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FreeSeas Inc. (FREEF)

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Last Post: 7/18/2018 11:35:47 PM - Followers: 257 - 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.

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FREEF Security Details

Share Structure

 
Market Value
$31,937
a/o 3/26/2018
 
Authorized Shares
10,000,000,000
a/o 2/09/2018
 
Outstanding Shares
798,423
a/o 2/09/2018



 
 

Financial Reporting/Disclosure

Reporting Status
U.S. Reporting: SEC Reporting
Audited Financials
Audited
Latest Report
CIK
0001325159
Fiscal Year End
12/31
OTC Marketplace
Pink Current
 








 
 Verified Company Profile 9/01/2017
Contact Info
10, El. Venizelou (Panepistimou) Street
Athens, J3 10671
Greece
 
Website: http://freeseas.gr/
Phone: 011-30-210-452-8770
Email: info@freeseas.gr
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FREEF
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Volume:
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PostSubject
#17053   os doubled again 6 to 13 million bottomless pit joever 07/18/18 11:35:47 PM
#17052   They can't make any money if their ship Top Penny 07/17/18 05:02:13 PM
#17051   Typical of illiquid junk stocks... Trap bait! Don 07/17/18 11:33:54 AM
#17050   Volume Just 5OOK But Up 97% zino 07/17/18 10:08:20 AM
#17049   Explosion soon...R/S Play zino 07/17/18 09:51:39 AM
#17048   $Freef biggest scam in otc imo mikekrane 07/12/18 10:56:08 PM
#17047   More refinancing agreements for Greek shipping: bigtimetrader 07/09/18 02:54:53 PM
#17046   Can i be your co-worker then buddy please KIKU 07/08/18 12:03:59 AM
#17045   Can i be your co-worker then buddy please KIKU 07/08/18 12:03:59 AM
#17044   Oh I see that no stock is a go for the money 07/07/18 10:30:34 AM
#17043   BDIY charging higher @ 1612 bigtimetrader 07/06/18 11:10:46 AM
#17042   Name a few? NM redsky7 07/05/18 07:13:15 PM
#17041   BDIY just broke out HUGE!!! bigtimetrader 07/05/18 03:04:59 PM
#17040   The microcap shipping stocks are popping today. bigtimetrader 07/03/18 01:14:23 PM
#17039   Yuan devaluation continues... bullish for shipping. bigtimetrader 07/03/18 01:29:16 AM
#17038   Interesting . lordgod 06/30/18 10:36:47 PM
#17037   Interestingly, Yahoo!Finance's Friday data is showing a 300,000+ bigtimetrader 06/30/18 09:04:05 PM
#17036   Not sure how anyone can be worried about bigtimetrader 06/30/18 08:30:22 PM
#17035   Ah yes. 200 shares of volume, a hallmark bigtimetrader 06/29/18 12:58:56 PM
#17034   I bought some . lordgod 06/28/18 09:11:57 PM
#17033   I to like to chuck my money into Marlo1978 06/28/18 06:29:18 PM
#17032   Not today, but I got more than today's bigtimetrader 06/28/18 01:23:02 PM
#17031   I wonder if im the only idiot buying Bigstud is here 06/28/18 12:02:24 AM
#17030   Will Free get new ships ? lordgod 06/27/18 11:13:31 PM
#17029   Another shipping company has had debt refinanced!!! bigtimetrader 06/27/18 10:22:11 PM
#17028   toxic debt, reverse split, repeat = FREEF FloatinGator 06/27/18 03:53:36 PM
#17027   Interesting . A new turn lordgod 06/26/18 11:15:14 AM
#17026   What market is there? None. You can't sell bigtimetrader 06/26/18 11:08:24 AM
#17025   10billions of toxic dump. strinh4000 06/26/18 10:28:37 AM
#17024   how many billions of AS shares do the joever 06/25/18 11:44:02 PM
#17023   No RS is coming, they have no market bigtimetrader 06/25/18 02:16:47 PM
#17022   When is the next reversal split come out trglaa 06/25/18 02:06:29 PM
#17021   https://www.hellenicshippingnews.com/the-shipping-industry-is-back-and-it-has-bi bigtimetrader 06/25/18 12:37:05 AM
#17020   China has cut the reserve ratio again - bigtimetrader 06/24/18 01:47:43 PM
#17019   Congratulations to FREEF for having survived the great bigtimetrader 06/22/18 03:44:31 PM
#17018   Global Shipping On Course for Recovery in 2018 bigtimetrader 06/22/18 03:20:42 PM
#17017   A Case Study In How To Destroy Shareholder Value FloatinGator 06/22/18 03:03:29 PM
#17016   total scam...I bet mgmt. doesn't even show up FloatinGator 06/22/18 02:54:16 PM
#17015   Just set an alert on 1M volume in Don 06/22/18 01:53:00 PM
#17014   I think something could happen here :-) lordgod 06/21/18 11:25:44 PM
#17013   The Greek debt-restructuring for shipping is here! See link! bigtimetrader 06/21/18 03:26:27 PM
#17012   DRYS sold two old Panamax ships a week bigtimetrader 06/21/18 02:57:15 PM
#17011   Crooks are always interested in making money. I bigtimetrader 06/19/18 01:04:16 PM
#17010   Yes, but if they are crooks what makes Top Penny 06/19/18 12:08:50 PM
#17009   I would also say that maybe they are bigtimetrader 06/19/18 11:32:02 AM
#17008   Their debt is with a Greek bank. That bigtimetrader 06/19/18 11:06:44 AM
#17007   Can you tell everyone about the recovery plans Don 06/19/18 06:56:09 AM
#17006   OK a track record of dilution. bigtimetrader 06/19/18 12:32:52 AM
#17005   Yes but the average age of FREEF's vessels Top Penny 06/18/18 07:21:30 PM
#17004   It's the plan the Eurozone has for Greece, bigtimetrader 06/18/18 03:47:00 PM
PostSubject