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FreeSeas Inc. (FREEF)

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Last Post: 12/15/2017 1:49:10 PM - Followers: 274 - Board type: Free - Posts Today: 2

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
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Current Price
Bid Ask Day's Range
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#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
#16758  Sticky Note 1-for-20,000 (the “Reverse Stock Split ZipCash 11/13/17 10:43:20 AM
#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
#16835   Are we suppose to receive the proxy voting stej 11/27/17 04:53:50 PM
#16834   What’s up with this turkey james87 11/27/17 02:15:21 PM
#16833   They would not answer you back in a stockstalk09 11/22/17 10:23:20 PM
#16832   He likely already sold them in all that FloatinGator 11/20/17 12:41:09 PM
#16831   Based on SC-13G filing they mentioned 1,136,877,859 Vin1984 11/20/17 10:01:44 AM
#16830   Are there 3 billion shares outstanding or a Top Penny 11/18/17 04:52:03 PM
#16829   More folks need to email the company and Top Penny 11/18/17 04:21:36 PM
#16828   No other company in the history of the stockstalk09 11/18/17 08:13:10 AM
#16827   Vote NO to all recommendations made by the company. kingjones 11/17/17 05:23:26 PM
#16826   BIG TIME SCAM HERE buxcapital 11/17/17 03:27:37 PM
#16825   Yes, but 100 million shares out of 3 Top Penny 11/16/17 01:13:55 PM
#16824   1/30 of the OS can't out vote the Don 11/16/17 01:08:06 PM
#16823   Jabro Funding can voting NO if they dont Anty_Jr 11/16/17 01:00:56 PM
#16822   I see Jabro Funding owns over a hundred Top Penny 11/16/17 12:41:36 PM
#16821   So what does that mean, I'm not following Top Penny 11/16/17 12:24:39 PM
#16820   Form SC 13G - Statement of acquisition of Anty_Jr 11/16/17 08:40:25 AM
#16819   Interesting article on FREEF just letting some know Top Penny 11/15/17 07:41:18 PM
#16818   A lot of people got burnt bad here, Top Penny 11/15/17 04:24:59 PM
#16817   There will be bid again one day lol Joecanada13 11/15/17 03:26:59 PM
#16816   I still don't know what those traders were Top Penny 11/15/17 12:44:49 PM
#16815   I'm kicking myself. I bought at 0.0002 FinsDontRule 11/15/17 09:48:30 AM
#16814   exactly. the SEC is not out to protect MakinBank 11/14/17 10:47:53 PM
#16813   Why are you even still giving these guys legiontrade 11/14/17 04:52:10 PM
#16812   The amount of convertible debt on the books Top Penny 11/14/17 04:45:51 PM
#16811   Well, this stock has always been a stock FinsDontRule 11/14/17 02:40:33 PM
#16810   What the hell this stock was over 2 KIKU 11/14/17 01:42:38 PM
#16809   And that's why their all nicknamed gyro chocker's, stockstalk09 11/14/17 01:08:32 PM
#16808   This stock looks like another R/S Donkey. What Ivegotanace2 11/13/17 07:57:35 PM