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FreeSeas Inc. (FREEF)

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Last Post: 9/12/2018 12:54:39 AM - Followers: 252 - 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 8/02/2018
Authorized Shares
a/o 7/12/2018
Outstanding Shares
a/o 7/12/2018


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
Phone: 011-30-210-452-8770
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Current Price
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#17067  Sticky Note FREEF has zero ships now... Top Penny 08/17/18 01:52:45 PM
#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
#17058   How many ships do they use ? lordgod 08/07/18 10:33:11 AM
#17057   Load $$$ :) freight galore $$$$$ Billions Billions Billions$$$$$ CarlCarlMcB 08/06/18 08:59:58 PM
#17056   New 6-K filed ($2.4 million sale of M/V bigtimetrader 08/06/18 06:57:27 PM
#17055   This is the way its going to be redsky7 07/26/18 07:06:00 PM
#17054   KIKU 07/21/18 02:22:56 AM
#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