Marine Link
Friday, October 28, 2016

FreeSeas to Acquire Handysize Vessel

August 23, 2007

FreeSeas (FREE) to Acquire Handysize Vessel FreeSeas Inc., a provider of seaborne transportation for drybulk cargoes, agreed to purchase a 1995-built 22,051 DWT Handysize vessel, the M/V Free Goddess, from an unaffiliated party for approximately $25.2m. The vessel is expected to be delivered in September or October of 2007. It will operate under a $13,000 per day fixed-rate time charter until November 2007, at which time it will commence a new two-year time charter at $19,250 per day. The Company continues to believe that the current drybulk rate environment presents opportunities for advantageous chartering and the establishment of long-term relationships with high-quality charterers. The new vessel acquisition announced today should provide increased cash flow to finance future vessel acquisitions and expand the Company's fleet.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News