The Nasdaq-listed company pocketed $3.6m from the sale of the24,100-dwt Free Knight (built 1998), it said today.
Confirmation of the deal comes over a month afterTradeWinds first broke the news of the likely sale.
Chief executive Ion Varouxakis described the move as part ofFreeSeas “balance sheet clean-up process” and the reorganization of its assets.
“The Company favours utilizing its resources towardsexisting vessels with optimal commercial and technical specifications and newacquisitions that can immediately produce income instead of spending ratherlong amounts of time and disproportionate amounts of capital on assets such asthe Free Knight, which had been sitting idle and was facing an expensivedry-dock to return to service," he said.
As
