FreeSeas delivers new dry bulk charter

FreeSeas Inc., which is a transporter of dry bulk cargoes via the operation and ownership of a Handysize vessel fleet and an owner of controlled stake in a company of commercially operating tankers and dry-bulkers, recently announced that it has delivered vessel M/V Free Neptune to her charterers.

The vessel was originally built in 1996 and is a 30,838 dwt Handysize vessel. It will be used as a time charter trip for approximately 30 days for a total rate of $9,500 each day. A previous time charter trip, which lasted 37 days, generated an amount of $8,900 each day. This charter trip ended five days ago.

"We are pleased that the M/V Free Neptune has been able to secure employment at rates comfortably above her running expenses,” Ion G. Varouxakis, the company's CEO, said. “This reflects an overall much improved picture for time charter rates compared to the situation at the beginning of the year. We look forward to gradually seeing similar results for the rest of the fleet, depending on positional situations."

FreeSeas has principal offices in Athens, Greece, as a Marshall Islands corporation. It is involved in transporting dry bulk cargoes using its fleet of Handysize vessels.