FreeSeas Announces Termination of Bareboat Hire


FreeSeas, a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that on June 15, 2016, the bareboat hire agreement in connection with the M/V Fiorello was terminated.

Subsequent to the termination of the hire, the vessel was sold with the sale proceeds being applied towards obligations to the Bareboat Owners of the vessel and trade creditors. As a result of the transaction, outstanding obligations to the Owners have been reduced by US$750,000.



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