FreeSeas Inc (NASDAQ:FREE) and DryShips Inc (NASDAQ:DRYS) not sailing on high seas
In Tuesday’s trading session, FreeSeas Inc (NASDAQ:FREE) stock dipped by 13.28%. The opening price of the shares was $0.29 which touched an intraday high of $0.31 and closed at $-.235. Approximately 20.19 million shares were traded on Tuesday which was above the average volume of 3.59 million shares that were traded over a 30 day period. The company has a market capitalization of $154,527.00.
FreeSeas Inc (NASDAQ:FREE) is a parent-holding company of its ship owning companies. It owns 9 vessels and each of these vessels are owned via a separate 100%-owned subsidiary. It has a fleet of 5 Handysize vessels and 2 Handymax vessels. These vessels carry different drybulk commodities such as grain, iron ore and coal. These are called major bulks. Apart from this the ships also transport phosphate, bauxite, steel products, fertilizers, sugar, cement and rice. These products are called minor bulks.
DRYS’s Tuesday trading
In Tuesday’s trading session, DryShips Inc (NASDAQ:DRYS) stock dropped by 3.89%. The opening price of the shares was $3.20 which climbed to an intraday high of $3.22 and closed at $2.96. Approximately 31.92 million shares were traded on Tuesday which was above the average volume of 10.94 million shares that were traded over a 30 day period. The company has a market capitalization of $1.20 billion.
DryShips Inc (NASDAQ:DRYS) is a holding company. It is involved in the ocean transportation of drybulk cargoes as well as crude oil across the world. It owns and operates oil tankers and drybulk carrier vessels. It is also involved in various offshore drilling services via the ownership and operation of ultra deepwater drilling units. As of 31 December 2011, the company owned as well as operated 2, 5th generation semi-submersible, ultra deepwater offshore drilling-rigs named Eirik Raude and Leiv Eiriksson. It also has 4, 6th generation advanced-capability ultra deepwater drill-ships