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FreeSeas Inc. (FREEF)

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Last Post: 5/16/2022 2:36:44 PM - Followers: 234 - 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
#17237   Technically there is life but it is microscopic IMHO. splintered sunlight 05/16/22 02:36:44 PM
#17236   Is this stock done for good or is Goldnuget 05/06/22 10:17:27 AM
#17235   FREEF SEC Suspension for severely delinquent Financials: Renee 05/24/21 09:37:01 AM
#17234   People dumping this Greek scam because it will PStockPickz 03/05/21 03:53:11 PM
#17233   YES MORE PLEASE!!! Spaniard88 02/14/21 09:42:29 PM
#17232   That would be something! up up lol Bigstud is here 02/02/21 05:26:47 AM
#17231   Maybe we can get those Reddit people to cuteandwitty 02/01/21 07:03:57 PM
#17230   But but, I love this stock. Bigstud is here 01/30/21 05:56:28 AM
#17229   Its slowly going up. Stay tune!!! Bigstud is here 01/30/21 05:53:25 AM
#17228   Looking nice so far. .016 high Bigstud is here 01/28/21 02:18:46 AM
#17227   Maybe today closing price .005? Would be nice Bigstud is here 01/22/21 03:30:11 PM
#17226   Touch 1¢ today. Lets keep this going! Bigstud is here 01/20/21 04:00:25 AM
#17225   Company is just a shell now and will Top Penny 01/17/21 03:43:49 PM
#17224   There is the off chance u just might Bigstud is here 01/14/21 02:58:28 AM
#17223   I've been holding a bunch of this for cuteandwitty 01/13/21 01:16:43 PM
#17222   Just me and freef this year. Im sure Bigstud is here 01/13/21 07:10:18 AM
#17221   Gooooo Freef! Starting to wake up. Bigstud is here 01/11/21 10:19:06 PM
#17220   Closing price today .005 one would think. Bigstud is here 01/07/21 01:08:43 PM
#17219   Slowly inching up then boom! Bigstud is here 01/05/21 12:39:11 AM
#17218   Need to file a 15-12g or get current Top Penny 12/12/20 09:33:44 PM
#17217   Got a little bit more volume today. Bigstud is here 12/08/20 05:12:04 AM
#17216   Authorized outstanding is insane. Top Penny 11/19/20 09:27:29 PM
#17215   Wonder if the bank in Greece ever forgave Top Penny 11/19/20 09:26:39 PM
#17214   They need to file a 15-12G before getting delisted. Top Penny 11/19/20 09:25:56 PM
#17213   Do you know if the company is still Top Penny 11/19/20 08:11:42 PM
#17212   This is still operational, they will be current Top Penny 11/17/20 05:22:06 PM
#17211   Hope u bought some. Lets get this going Bigstud is here 11/12/20 12:49:52 AM
#17210   Everybody is entitled to dream. splintered sunlight 11/02/20 03:37:52 PM
#17209   Someday BOOM! over a penny. Just a waiting Bigstud is here 11/02/20 12:19:23 PM
#17208   Stinkiest stock in all Of pinkyville mrpennystocks 10/30/20 05:00:26 PM
#17207   Stay away from this POS. splintered sunlight 10/27/20 04:20:38 PM
#17206   Company has the same pattern for 15 years Screw mrpennystocks 09/23/20 06:04:50 PM
#17205   Share structure still nice. Top Penny 09/14/20 09:19:40 PM
#17204   I wish management was more responsive. Top Penny 09/14/20 09:19:29 PM
#17203   When will the website ever be back up? Top Penny 09/14/20 09:19:18 PM
#17202   Going to start adding here. Top Penny 09/14/20 09:19:03 PM
#17201   Freef still looking good low today .0025. Bigstud is here 09/11/20 03:33:12 AM
#17200   Good time to BUY some! Bigstud is here 07/30/20 05:43:32 AM
#17199   Something going on here. Time will tell I guess. Bigstud is here 07/20/20 05:13:15 AM
#17198   We need news! Top Penny 04/23/20 01:44:42 PM
#17197   I already bought whole bunch of these. Bigstud is here 03/27/20 05:03:09 PM
#17196   R you sure you want to miss out trendzone 03/27/20 02:31:36 PM
#17195   R u sure u want to buy some? lol Bigstud is here 03/27/20 02:15:31 PM
#17194   I might start acquiring this ticker by the Top Penny 02/24/20 10:45:54 AM
#17193   Can't be to many shares outstanding here. Top Penny 02/02/20 04:23:23 PM
#17192   Management has left the building. Top Penny 01/18/20 06:08:14 PM
#17191   Nice share structure but the A/S is ridiculous. Top Penny 01/18/20 06:07:49 PM
#17190   Website has been down for months now, actually Top Penny 01/18/20 06:07:19 PM
#17189   Relegated to the greys or worse soon if Top Penny 01/18/20 06:06:43 PM
#17188   It's like the energizer bunny, just keep going Bigstud is here 01/15/20 10:33:53 PM
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