The following table describes FreeSeas' annual debt repayment obligations for 2011 through 2016:
|Year||Amount||Upcoming Obligations by Quarter|
|(in 000s)||(in 000s)|
|* FreeSeas has already paid $2 million in principal as of March 1, 2010.|
|** Includes a balloon payment of $17.6 million due in November 2012, which FreeSeas currently intends to refinance, although there can be no assurances that it will be able to do so.|
|*** Includes $8.8 million expected prepayment from the sale of M/V Free Hero.|
Fleet Employment (as of March 4, 2011)
|M/V Free Lady||Handymax||2003||50.246||About 3 - 5 months time charter at $14,000 per day for the first 120 days and $15,500 for the balance period through March/May 2011|
|M/V Free Jupiter||Handymax||2002||47.777||About 65 day time charter trip at $6,750 per day and $13,000 for any day in excess of 80 days through April/May 2011|
|M/V Free Knight||Handysize||1998||24.111||80 day time charter trip at $10,000 per day through May 2011|
|M/V Free Maverick||Handysize||1998||23.994||About 62 day time charter trip at $9,100 per day through May 2011|
|M/V Free Impala||Handysize||1997||24.111||20-30 day time charter trip at $10,200 per day through March 2011|
|M/V Free Neptune||Handysize||1996||30.838||4-6 months time charter at $14,000 per day for the first 115 days and $15,250 thereafter, through April/July 2011|
|M/V Free Hero||Handysize||1995||24.318||15-20 day time charter trip at $8,750 per day through March 2011|
|M/V Free Goddess||Handysize||1995||22.051||25 day time charter trip at $12,500 per day through April 2011|
|M/V Free Envoy||Handysize||1984||26.318||35-40 day time charter trip at $8,250 per day through March/April 2011|
Conference Call with Accompanying Slide Presentation
The Company will discuss these results in a conference call later this morning at 9:00 a.m. ET.
|The dial-in numbers are:|
|(866) 861-6730 (US)|
|(702) 643-2970 (INTERNATIONAL)|
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