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FreeSeas Inc. (FREEF)

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Last Post: 10/12/2019 8:07:01 PM - Followers: 243 - 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
#17186   This will soon be relegated to the greys Top Penny 10/12/19 08:07:01 PM
#17185   They updated the company description on otcmarkets, don't Top Penny 09/19/19 09:22:22 PM
#17184   A/S of ten billion needs lowered. Top Penny 08/09/19 11:10:42 PM
#17183   NEWLF is dead and long gone, I live Top Penny 08/03/19 11:20:33 PM
#17182   You need to look at what is happening TransAsia Judgment 07/27/19 01:19:39 PM
#17181   We need some filings, seems to be dead Top Penny 07/26/19 08:30:04 PM
#17180   Is FREEF just going to give up and Top Penny 06/20/19 06:44:50 PM
#17179   This thing will be revoked or suspended next Top Penny 06/10/19 10:40:29 PM
#17178   I never cared about the Financials with this FastBuxJones 05/13/19 02:27:21 PM
#17177   What do you think about FREEF no longer Top Penny 05/13/19 01:52:09 PM
#17176   This used to trade on the NASDAQ, I Top Penny 05/09/19 02:12:29 PM
#17175   It should preface each stock purchase with a mrpennystocks 05/06/19 09:39:03 AM
#17174   SEC Filing TransAsia Judgment 05/04/19 06:00:12 AM
#17173   This company is a scam. Only thing they PStockPickz 04/29/19 04:05:39 PM
#17172   If you cannot write in Greek you can TransAsia Judgment 04/01/19 05:49:51 PM
#17171   Question - are you sending the email in TransAsia Judgment 04/01/19 05:37:55 PM
#17170   Management never responds to emails. Top Penny 03/31/19 12:17:01 AM
#17169   Not going to happen. Top Penny 03/27/19 10:04:06 PM
#17168   I would raise it to 100 billion. mrpennystocks 03/27/19 09:53:02 PM
#17167   Why won't they lower the A/S of 10 Top Penny 03/20/19 02:42:25 PM
#17166   No website, no ships, no nothing! Top Penny 03/19/19 11:45:09 AM
#17165   Right, sincerely hope you weren't dumb enough to Murph32 03/15/19 12:48:44 PM
#17164   Still no website Top Penny 03/12/19 01:42:00 PM
#17163   FREE is literally in the top ten of mrpennystocks 03/09/19 07:24:06 PM
#17162   Stay away i lost everything they are fraud msiliezar 03/06/19 05:49:13 AM
#17161   After doing another 1 by 2000 reverse split KIKU 03/03/19 05:03:07 AM
#17160   Wake up FastBuxJones 02/20/19 09:56:31 AM
#17159   cut from the BS cloth TransAsia Judgment 02/20/19 05:24:24 AM
#17158   When will they put back up their website? Top Penny 02/19/19 09:56:57 PM
#17157   How is this related to FREEF? Top Penny 02/19/19 09:46:26 PM
#17156   Good. All will go to jail. This people luckyhope 02/19/19 02:55:02 PM
#17155   SEC Files Charges in Elaborate Microcap Stock Fraud TransAsia Judgment 02/17/19 04:48:22 AM
#17154   Bloomberg published an article this morning TransAsia Judgment 02/17/19 04:47:17 AM
#17153   https://www.sec.gov/litigation/litreleases/2019/lr24403.htm TransAsia Judgment 02/17/19 04:45:55 AM
#17152   No hope with this much dilution. I'm not luckyhope 02/07/19 02:13:56 AM
#17151   So you dont feel lucky and you have Bigstud is here 02/06/19 03:28:09 PM
#17150   Dilution big time, I'm out luckyhope 02/06/19 03:13:12 PM
#17149   Another split? How many times are they Chelu671 02/05/19 01:30:25 PM
#17148   Stock price suddenly rises and what happens here? Maple tree 02/01/19 11:56:34 AM
#17147   Oops your Decimal .003 is off should be Bigstud is here 02/01/19 03:52:54 AM
#17146   Freef back to .003. New break out CREG Newsletter 01/30/19 10:13:33 PM
#17145   Why should I tell you? You think they bigtimetrader 01/30/19 03:41:01 PM
#17144   I took 3k profit yesterday, but I was luckyhope 01/30/19 03:02:44 PM
#17143   At what price did u sell if u Bigstud is here 01/30/19 12:56:14 PM
#17142   FREEF has zero ships so why would the Top Penny 01/29/19 06:50:00 PM
#17141   Huge dump today, is this dilution? Top Penny 01/29/19 03:34:00 PM
#17140   Wonder what is going on behind the scenes? Top Penny 01/29/19 03:15:45 PM
#17139   ..so be patient? bigtimetrader 01/29/19 03:02:09 PM
#17138   Nothing issued for Freef so....... luckyhope 01/29/19 01:43:35 PM
#17137   Greece just issued a new 5-year bond. First bigtimetrader 01/29/19 11:59:29 AM