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FreeSeas Inc. (FREEF)

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Last Post: 1/17/2018 2:56:46 PM - Followers: 270 - 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
#16768  Sticky Note ratios  within  the  range  from  1-for-2  up  to  1-for-20,000 legiontrade 11/13/17 11:16:46 AM
#16886   Do you know how many times I’ve heard Box Money 01/17/18 02:56:46 PM
#16885   Because this is the biggest scam in otc mikekrane 01/16/18 09:09:37 PM
#16884   Bond Villains. Mgmt must think they are Bond FloatinGator 01/16/18 01:16:08 PM
#16883   I was wondering why they haven't reported any manny371 01/15/18 12:34:20 PM
#16882   When will we know how large the reverse Top Penny 01/12/18 07:27:50 PM
#16881   That would actually make this run imo mattypsays 01/12/18 11:21:40 AM
#16880   WE KEEP GETTING VOLUME NEAR 10 MILLION A buxcapital 01/12/18 11:14:01 AM
#16879   3.8 Billion O/S, up from a month ago. FloatinGator 01/10/18 02:53:20 PM
#16878   yep! if management would let it breathe it strinh4000 01/10/18 11:25:49 AM
#16877   We are having volume of late if that buxcapital 01/10/18 11:18:18 AM
#16876   Finra can reject their rs like the did UNGS? strinh4000 01/10/18 11:09:08 AM
#16875   WHEN IS THE R/S ??? buxcapital 01/09/18 11:27:08 PM
#16874   Watch FINRA for the announcement. They usually Don 01/01/18 08:37:56 PM
#16873   Does anyone know how big the reverse split is? Top Penny 01/01/18 08:14:42 PM
#16872   Watch this company. nobody4ever 12/29/17 08:20:46 PM
#16871   another RS??? StockMonster100 12/23/17 12:08:36 AM
#16870   So how big is the reverse split? Top Penny 12/22/17 04:49:42 PM
#16869   I’ve been wondering it’s like here’s 500 bucks Marlo1978 12/22/17 03:24:51 PM
#16868   Ignorance. Don 12/22/17 03:21:58 PM
#16867   Why are there buys if this is gonna Marlo1978 12/22/17 03:10:40 PM
#16866   Report of Foreign Issuer (6-k) Anty_Jr 12/21/17 07:16:12 AM
#16865   FreeSeas Inc. Announces Results of Annual Meeting of Shareholders Anty_Jr 12/21/17 07:14:35 AM
#16864   Sell the first day at the first price jpowellvlc 12/20/17 08:17:22 AM
#16863   It's irrelevant. Company criminal mgt has controlling votes. Don 12/18/17 02:34:19 PM
#16862   Did anyone here vote if so how to stej 12/18/17 02:15:38 PM
#16861   My course of action will be to place Stelth Mode 12/17/17 12:57:44 PM
#16860   ARE WE EVER GONNA GO UP ? IS buxcapital 12/16/17 07:59:53 PM
#16859   The sad thing is the shipping industry is Top Penny 12/15/17 07:45:04 PM
#16858   The usual, nothing at all. Bigstud is here 12/15/17 01:49:09 PM
#16857   Whats going on here buxcapital 12/15/17 01:27:19 PM
#16856   And then the little slime ball Greekbags that stockstalk09 12/11/17 04:02:37 PM
#16855   Why is this still trading when a reverse Top Penny 12/11/17 03:14:38 PM
#16854   They should limit how many times a company Top Penny 12/11/17 11:54:26 AM
#16853   FreeSeas Inc. (the “Company”) has announced that its Don 12/10/17 10:28:58 AM
#16852   NO RS YET ? buxcapital 12/10/17 03:06:46 AM
#16851   These guys are the dirtiest of all of stockstalk09 12/07/17 06:11:26 PM
#16850   trash /traSH/ noun noun: trash FloatinGator 12/07/17 01:18:39 PM
#16849   what just happened .... is this how it Jason248 12/07/17 01:04:14 PM
#16848   I don’t know I’m sell but can’t 0.70 saud966i 12/07/17 11:39:21 AM
#16847   why is it saying .80, RS? legiontrade 12/07/17 11:31:18 AM
#16846   Now 0.80 bomm saud966i 12/07/17 11:23:11 AM
#16845   leaving a comment here every once in a FloatinGator 12/06/17 03:37:20 PM
#16844   The directors of this company are thieves. They nobody4ever 12/05/17 05:15:50 PM
#16843[mydD0C3BFB2-838C-4781- Don 12/05/17 05:07:26 PM
#16842   Nice volume today great things to come Marlo1978 12/05/17 04:27:19 PM
#16840   you will get about 70 cents on the FloatinGator 11/30/17 03:43:41 PM
#16839   I was lucky enough to get into this FinsDontRule 11/30/17 02:59:04 PM
#16838   Agreed, dilution will run rampant after the split, Top Penny 11/30/17 01:21:31 PM
#16837   reverse split coming, followed by a promise of FloatinGator 11/29/17 02:18:56 PM
#16836   It's stuffed with too many stinking Greekcrums, that stockstalk09 11/27/17 05:05:07 PM