6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934

For the month of March 2008

Commission File Number: 000-51672

FreeSeas Inc.

89 Akti Miaouli & 4 Mavrokordatou Street
185 38 Piraeus, Greece
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F þ     Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o     No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-     .

A.     Completion of Repairs on and Delivery of the M/V Free Jupiter; Employment of the M/V Free Destiny

     On February 29, 2008, FreeSeas Inc. announced the completion of repairs on the M/V Free Jupiter and the delivery of the vessel to its charterers under a three-year time charter at a rate of $32,000 per day for the first year, $28,000 per day for the second year and $24,000 per day for the third year.

     On February 29, 2008, FreeSeas also announced that the M/V Free Destiny, a 1982-built 25,240 dwt Handysize vessel, has been fixed to a new time charter of approximately 30 days at a rate of $25,500 per day.

     A copy of the related press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

B.     Employment and Financing of the M/V Free Impala and the M/V Free Knight

     On March 4, 2008, FreeSeas announced that it has entered into agreements for the employment of the newly acquired 1997-built M/V Free Impala and the 1998-built M/V Free Knight. Both vessels are 24,111 dwt and are expected to be delivered to FreeSeas during March 2008. Upon delivery, the vessels will each enter into a one-year time charter at a rate of $31,500 per day.

     In addition, FreeSeas announced the finalization of the financing for the vessels, securing facilities in the total amount of approximately USD $53 million for a term of approximately seven years.

     A copy of the related press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

C.     Acquisition of the M/V Free Lady

     On March 13, 2008, FreeSeas announced that it has agreed to purchase one second-hand drybulk carrier from an unaffiliated third party for approximately US$65.2 million. The vessel is a 2003-built, 50,300 dwt Handymax vessel built in Japan, and is anticipated to be delivered to FreeSeas in June or July of 2008. The vessel is being purchased charter-free and arrangements for its employment will be announced when finalized.

     A copy of the related press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

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D.     Dividend Policy

     In February 2008, FreeSeas paid a dividend of $0.175 per share, which is consistent with its previously disclosed intention to distribute a portion of its available cash from operations as quarterly cash dividends to its shareholders in February, May, August and November of each year. FreeSeas currently expects that this dividend will be followed by a quarterly dividend of $0.175 per share in each of the following three quarters. The future declaration and payment of any dividend is subject to the discretion of the FreeSeas board of directors.

     The timing and amount of dividend payments will be dependent upon FreeSeas’ earnings, financial position, cash requirements and availability, fleet renewal and expansion, and restrictions in FreeSeas’ loan agreements, as well as the provisions of Marshall Islands law affecting the payment of distributions to shareholders and other factors. FreeSeas may not have sufficient funds with which to pay dividends at all or at the anticipated frequency or amount described above . Further, even if FreeSeas had sufficient funds available, its board of directors may determine to devote those funds to internal uses rather than to the payment of dividends.

     This report on Form 6-K and the exhibits attached thereto are incorporated by reference into the Registrant’s Registration Statement on Form F-3, File No. 333-145098.

SUBMITTED HEREWITH:

Exhibits

99.1   Press Release dated February 29, 2008.

99.2   Press Release dated March 4, 2008.

99.3   Press Release dated March 13, 2008.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 6-K to be signed on its behalf by the undersigned, thereto duly authorized.

Date: March 17, 2008	FreeSeas Inc.
	By:	/s/ Ion G. Varouxakis
		Name:	Ion G. Varouxakis
		Title:	Chief Executive Officer

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EX-99.1

Exhibit 99.1

FREESEAS INC. ANNOUNCES RETURN TO SERVICE OF THE M/V FREE JUPITER

Company Also Announces New 30-day Time Charter for the M/V Free Destiny

February 29, 2008 Piraeus, Greece — FreeSeas Inc. (NASDAQ: FREE, FREEW and FREEZ), a provider of seaborne transportation for dry bulk cargoes, announced today that the repairs of the M/V Free Jupiter have been completed and the vessel is being delivered to its charterers.

“We are extremely pleased to have our vessel fully repaired and back in service,” said Ion Varouxakis, Chairman and CEO of FreeSeas. “With five vessels now in operation and two more still to be delivered over the next few weeks, we look forward to having our seven-vessel fleet producing revenue.”

As previously announced, the 2002-built Handymax M/V Free Jupiter has been fixed to a three-year time charter at a rate of $32,000 per day for the first year, $28,000 per day for the second year and $24,000 per day for the third year.

“We continue to actively seek accretive opportunities in the second-hand market, and believe that underlying market fundamentals continue to be very strong,” Mr. Varouxakis added.

The Company also announced today that the M/V Free Destiny, a 1982-built 25,240 dwt Handysize vessel, has been fixed to a new time charter of approximately 30 days at a rate of $25,500 per day.

With the delivery of the M/V Free Jupiter, FreeSeas’ current fleet and vessels to be delivered are illustrated in the following charts:

Vessel Name	Dwt		Vessel Type	Built		Employment
Free Destiny		25,240	Handysize		1982	30-day TC at $25,500 p/d
Free Envoy		26,318	Handysize		1984	One-year TC through Apr 2008 at $17,000 p/d
Free Goddess		22,501	Handysize		1995	Two-year TC at $19,250 p/d till November 2009
Free Hero		24,318	Handysize		1995	TC through Dec 2008/Feb 2009 at $14,500 p/d
Free Jupiter		47,777	Handymax		2002	Three-year TC through Feb 2011 at $32,000/28,000/24,000 p/d

1

Vessels to be delivered:

Vessel Name	Dwt		Vessel Type	Built		Expected Delivery
Free Impala		24,111	Handysize		1997	March 2008
Free Knight		24,111	Handysize		1998	March 2008

About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of four Handysize vessels and one Handymax vessel. FreeSeas’ common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the US Securities and Exchange Commission, which can be obtained free of charge on the SEC’s website at www.sec.gov. For more information about FreeSeas Inc., please go to our corporate website, www.freeseas.gr.

For further information please contact:

Company Contact:
Ion Varouxakis
Chief Executive Officer
FreeSeas Inc.
93 Akti Miaouli Street
185 38 Piraeus, Greece
Tel: 011-30-210-45-28-770
Fax: 011-30-210-429-10-10
E-Mail: info@freeseas.gr
www.freeseas.gr

Investor Relations / Financial Media:
Thomas J. Rozycki, Jr.
Sr. Vice President
Cubitt Jacobs & Prosek Communications
350 Fifth Avenue — Suite 3901
New York, NY 10118, USA
Tel: +1.212.279.3115 x208
Fax: +1.212.279-3117
E-Mail: trozycki@cjpcom.com
www.cjpcom.com

2

EX-99.2

Exhibit 99.2

FreeSeas Inc. Announces Employment and Financing for Most Recent Vessel Acquisitions

March 4, 2008 Piraeus, Greece — FreeSeas Inc. (NASDAQ: FREE, FREEW, FREEZ) (“FreeSeas” or “the Company”), a provider of seaborne transportation for drybulk cargoes, announced today that it has entered into agreements for the employment of the newly acquired 1997-built M/V Free Impala and the 1998-built M/V Free Knight. Both vessels are 24,111 dwt and are expected to be delivered to FreeSeas during March 2008. Upon delivery, the vessels will each enter into a one-year time charter at a rate of $31,500 per day.

The Company also announced that it has finalized the financing for the vessels, securing facilities in the total amount of approximately USD $53 million for a term of approximately 7 years.

“The successful chartering of these two vessels demonstrates that FreeSeas is advantageously positioned for continued growth,” said Mr. Ion Varouxakis, Chief Executive Officer of FreeSeas. “With the Free Jupiter back in service and with the expected deliveries of our two additional vessels in March, we expect to have seven fully operational vessels contributing their revenue by the beginning of the second quarter.”

The following table detail FreeSeas’ current fleet as announced today

Current fleet:

Vessel Name	Dwt		Vessel Type	Built		Employment
Free Destiny		25,240	Handysize		1982	30-day time-charter at $25,500 per day
Free Envoy		26,318	Handysize		1984	Time-charter through April 2008 at $17,000 p/d
Free Goddess		22,501	Handysize		1995	Time-charter through November 2009 at $19,250 p/d
Free Hero		24,318	Handysize		1995	Time-charter through February 2009 at $14,500 p/d
Free Jupiter		47,777	Handymax		2002	Time-charter through February 2011 at $32,000/28,000/24,000 p/d

1

Vessels to be delivered:

Vessel Name	Dwt		Vessel Type	Built		Expected Delivery	Employment
Free Impala		24,111	Handysize		1997	March 2008	One-year time-charter at $31,500 p/d, commencing at delivery
Free Knight		24,111	Handysize		1998	March 2008	One-year time-charter at $31,500 p/d, commencing at delivery

About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of four Handysize vessels and one Handymax vessel. FreeSeas’ common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the US Securities and Exchange Commission, which can be obtained free of charge on the SEC’s website at www.sec.gov. For more information about FreeSeas Inc., please go to our corporate website, www.freeseas.gr.

For further information please contact:

Company Contact:
Ion Varouxakis, Chief Executive Officer
011-30-210-45-28-770
Fax: 011-30-210-429-10-10
E-Mail: info@freeseas.gr
89 Akti Miaouli Street
185 38 Piraeus, Greece
www.freeseas.gr

Investor Relations/Financial Media:
Cubitt Jacobs & Prosek Communications
Thomas J. Rozycki, Jr., Sr. Vice President
+1.212.279.3115 x208
Fax: +1.212.279-3117
trozycki@cjpcom.com
350 Fifth Avenue — Suite 3901
New York, NY 10118, USA
www.cjpcom.com

2 EX-99.3 4 g12327exv99w3.htm EX-99.3 PRESS RELEASE DATED MARCH 13, 2008

Exhibit 99.3

FREESEAS TO ACQUIRE HANDYMAX; INCREASE FLEET TO EIGHT VESSELS

Handymax Free Lady Expected to Join Fleet in the Third Quarter of 2008

March 13, 2008 Piraeus, Greece — FreeSeas Inc. (NASDAQ: FREE, FREEW, FREEZ) (“FreeSeas” or “the Company”), a provider of seaborne transportation for drybulk cargoes, announced today that it has agreed to purchase one second-hand drybulk carrier from an unaffiliated third party for approximately US$65.2 million.

The vessel is a 2003-built, 50,300 dwt Handymax vessel built in Japan, and is scheduled for charter-free delivery to FreeSeas in June or July of 2008. The Company intends to finance the acquisition using cash on hand and the Company’s existing credit facility. Employment arrangements for the vessel will be announced when finalized.

“Our constant monitoring of the second-hand market has presented us with the opportunity to acquire a modern vessel at a competitive price,” said Mr. Ion Varouxakis, Chief Executive Officer of FreeSeas. “We expect to have seven vessels fully employed and earning revenue by the beginning of second quarter, and look forward to the delivery of our latest acquisition at the beginning of the third quarter. We expect this new acquisition to substantially improve our earnings capacity and free cash flow providing us with enhanced financial flexibility. As a result, FreeSeas will have available a wider variety of options for the further expansion of its fleet .”

The following tables detail FreeSeas’ current fleet as announced today:

Current fleet:

Vessel Name	Dwt		Vessel Type	Built		Employment
Free Destiny		25,240	Handysize		1982	30-day time-charter at $25,500 p/d
Free Envoy		26,318	Handysize		1984	Time-charter through April 2008 at $17,000 p/d
Free Goddess		22,501	Handysize		1995	Time-charter through November 2009 at $19,250 p/d
Free Hero		24,318	Handysize		1995	Time-charter through February 2009 at $14,500 p/d
Free Jupiter		47,777	Handymax		2002	Time-charter through February 2011 at $32,000/28,000/24,000 p/d

1

Vessels to be delivered:

Vessel Name	Dwt		Vessel Type	Built		Expected Delivery	Employment
Free Impala		24,111	Handysize		1997	March 2008	One-year time-charter at $31,500 p/d, commencing at delivery
Free Knight		24,111	Handysize		1998	March 2008	One-year time-charter at $31,500 p/d, commencing at delivery
Free Lady		50,300	Handymax		2003	June-July 2008	TBD

About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of four Handysize vessels and one Handymax vessel. FreeSeas’ common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the US Securities and Exchange Commission, which can be obtained free of charge on the SEC’s website at www.sec.gov. For more information about FreeSeas Inc., please go to our corporate website, www.freeseas.gr.

For further information please contact:

Company Contact:
Ion Varouxakis
Chief Executive Officer
011-30-210-45-28-770
Fax: 011-30-210-429-10-10
E-Mail: info@freeseas.gr
89 Akti Miaouli Street
185 38 Piraeus, Greece
www.freeseas.gr

Investor Relations/Financial Media:
Cubitt Jacobs & Prosek Communications
Thomas J. Rozycki, Jr.
Sr. Vice President
+1.212.279.3115 x208
Fax: +1.212.279-3117
trozycki@cjpcom.com
350 Fifth Avenue — Suite 3901
New York, NY 10118, USA
www.cjpcom.com

2

EX-99.3

EX-99.3 Press Release dated March 13, 2008