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FreeSeas Inc. (FREEF)

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Last Post: 10/25/2018 3:45:22 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
$87,422
a/o 9/28/2018
 
Authorized Shares
Unknown
a/o 9/18/2018
 
Outstanding Shares
30,145,538
a/o 9/18/2018



 
 

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
Quantum
FREEF
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
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PostSubject
#17067  Sticky Note FREEF has zero ships now... Top Penny 08/17/18 01:52:45 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
#17075   FREEF headed back to the NASDAQ! Top Penny 09/07/18 12:57:05 PM
#17074   Huge value play here. Management is taking FREEF bigtimetrader 09/02/18 05:47:43 PM
#17073   O/S count is growing while PPS is redsky7 08/24/18 01:52:37 AM
#17072   All the convertible debt is killing this ticker, Top Penny 08/23/18 06:22:21 PM
#17071   The convertible debt is what is tanking the Top Penny 08/21/18 10:40:18 PM
#17070   That convertible debt is worthless, seems more like bigtimetrader 08/20/18 01:34:27 PM
#17069   Yes it does look as though they will Top Penny 08/17/18 11:18:57 PM
#17068   Zero ships and a ton of convertible debt, Top Penny 08/17/18 11:16:38 PM
#17067   FREEF has zero ships now... Top Penny 08/17/18 01:52:45 PM
#17066   I want trip -1 Coconutboyjr 08/16/18 03:08:28 PM
#17065   Ok, I don’t trust the company website. I Don 08/09/18 08:02:30 PM
#17064   The link......go to freeseas's website and redsky7 08/09/18 07:47:36 PM
#17063   4 shares traded. bigtimetrader 08/09/18 05:02:41 PM
#17062   The last filing from the company says... Don 08/09/18 12:07:17 PM
#17061   They have two handysize vessels of redsky7 08/09/18 11:43:41 AM
#17060   It would appear they sold their last ship... Don 08/07/18 10:04:48 PM
#17059   Zero. bigtimetrader 08/07/18 02:59:25 PM
PostSubject