San Diego, CA 7/16/2009 2:34:50 AM
FreeSeas (FREE) Ships Have Come In
FreeSeas Inc. cargo vessels go back to work driving revenue.
FreeSeas Inc. (FREE) shares are up sharply on Wednesday, fueled by news that it had successfully obtained charter hire for three of its vessels - the Free Hero, the Free Destiny, and the Free Knight.
To read the full analytical review of FreeSeas and its stock, please go to: www.smallcapnetwork.com/s/.
FreeSeas shares were also bolstered by a recent announcement from Navios Maritime (NM). Navios will be adding four new Capesize vessels to its fleet at an aggregated cost of about $324.5 million. Even though NM is a Big Cap shipper, when fleets start growing, it may be a good sign for the entire industry,
About FreeSeas Inc.
FreeSeas Inc. (FREE) is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of seven Handysize vessels and two Handymax vessels. FreeSeas' common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the U.S. Securities and Exchange Commission, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, http://www.freeseas.gr.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Caps-FREE-CRNT-NM-and-MAIL-Gain-on-News-and-TRGT-Posts-115-Rise/s/article/view/p/mid/1/id/140/
