FreeSeas Appoints Kalogeropoulos to Board
FreeSeas Inc. (Nasdaq:FREE) a transporter of drybulk cargoes through the ownership and operation of a fleet of Handysize and Handymax vessels, announced today that George Kalogeropoulos has joined its Board of Directors as a Board member, replacing Kostas Koutsoubelis, who resigned for personal reasons. Kalogeropoulos brings to FreeSeas over 30 years of marine transportation experience, holding managerial positions in brokering, chartering, ship management, and operations for large shipping companies in London and Greece. of the Restis Group of Companies. Mr. Kalogeropoulos currently serves on the boards of several companies in the transportation industry, including Swissmarine Corporation Ltd., South African Marine Corp., Safore pty, and Safbulk pty Ltd.
Enterprise Containership Detained; Repayment of $175 Million Bond Forced
Bondholders who financed the shipping company Enterprises Shipholding, said on Tuesday they had arrested one of the company's newest containerships, the Ocelotmax, to force repayment of a $175 million bond on which it defaulted in June. "The Ocelotmax was arrested to secure the bondholders' unquestionable right to judgment and payment of their claims against Enterprises," said a statement from the bondholders. "While the bondholders have initiated multiple efforts to address the default with the company's management and directors, the company has utterly failed to respond to such efforts," it added. Enterprise's Director and CFO Kostas Koutsoubelis denied the company had failed to respond. "It is us who tried to initiate discussions with the bondholders," he said.
