New York-listed FreeSeas will receive a $1.1m pay out overthe 22,000-dwt Free Goddess (built 1985) which was released in October 2012after a ransom was paid.
The handysize vessel, which spent 250 days in the hands ofSomali pirates, has been undergoing repairs but will shortly be back in action.
FreeSeas has already received $700,000 of the settlement,the Greek owner said today in an exchange filing.
The
