FreeSeas Inc fka FREEF

[Sonar]

Any news on the status of M/V Free Goddess, and the million dollar insurance payment? Now, would be a great time to bring the ship back into service. FreeSeas revenue stream runs stronger winter thru spring.

"The M/V Free Goddess was hijacked by Somali pirates on February 7, 2012 while transiting the Indian Ocean eastbound. On October 11, 2012, we announced that all 21 crew members of the M/V Free Goddess were reported safe and well after the vessel’s release by the pirates. At the time of the hijacking the vessel was on time charter in laden condition. Since the release from the pirates, she has been laying at the port of Salalah, Oman, having undertaken
lengthy repairs funded mostly by insurers. Discussions have been ongoing since between all interested parties for a commercial settlement enabling the vessel to resume its trade."

"Therefore, we expect our revenues from our drybulk carriers to be typically weaker during the fiscal quarters ending June 30 and September 30 and, conversely, we expect our revenues from our drybulk carriers to be typically stronger in fiscal quarters ending December 31 and March 31."