FreeSeas, Inc., through its wholly owned subsidiaries, provides international seaborne transportation services, carrying various drybulk cargoes, such as coal, iron ore, grains, bauxite, phosphate, fertilizers, and steel products. As of December 31, 2004, FreeSeas’ fleet consisted of 2 drybulk carriers, the Free Destiny, which had a total cargo carrying capacity of 25,240 dwt, and the Free Envoy, which had a total cargo carrying capacity of 26,318 dwt. The company, formerly known as Adventure Holdings, S.A, is headquartered in Piraeus, Greece.