FreeSeas Announces Charter Agreements on Six of Its Handysize Vessels
PIRAEUS, Greece, Oct. 7, 2009 (GLOBE NEWSWIRE) -- FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ) ("FreeSeas" or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of eight Handysize vessels and two Handymax vessels, announced today new charters for six of its vessels, including the recently purchased Free Neptune, as well as the Free Envoy, Free Hero, Free Maverick, Free Knight, and Free Impala. These new charters are detailed below:
• The M/V Free Neptune, a 1996-built, 30,838 dwt Handysize vessel,
has been delivered to her charterers for a spot time charter of
30-35 days at a daily rate of $20,000.
• The M/V Free Envoy, a 1984-built, 26,318 dwt Handysize vessel,
has been delivered to her charterers for a spot time charter trip
of 30-35 days at a daily rate of $8,000.
• The M/V Free Hero, a 1995-built, 24,318 dwt Handysize vessel, has
been delivered to her charterers for a spot time charter trip of
approximately 40-50 days at a daily rate of $13,500.
• The M/V Free Maverick, a 1998-built, 23,994 dwt Handysize vessel,
has been delivered to her charterers for a spot time charter of
between 60-65 days at a daily rate of $9,000 or $11,000 depending
on repositioning.
• The M/V Free Knight, a 1998-built, 24,111 dwt Handysize vessel,
has been delivered to her charterers for a spot time charter of
60-65 days at a daily rate of $7,000.
• The M/V Free Impala, a 1997-built, 24,111 dwt Handysize vessel,
has been chartered for a spot time charter trip of 60 days at a
daily rate of $10,000.
Mr. Ion Varouxakis, Chief Executive Officer of FreeSeas, stated, "We are very pleased to have witnessed continued daily rate increases for our Handysize vessels in the spot market."
About FreeSeas Inc.
FreeSeas Inc. press release