SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                 --------------

                                  SCHEDULE 13D
                                 (RULE 13D-101)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
            TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
                                  RULE 13D-2(A)



		               Amendment No. 2

                                FreeSeas Inc.
                                 --------------
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                    Y26496102
                                    ---------
                                 (CUSIP Number)

                                 Paul D. Sonkin
                           Hummingbird Management, LLC
                    (f/k/a Morningside Value Investors, LLC)
                           460 Park Avenue, 12th Floor
                            New York, New York 10022
                            ------------------------
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                January 9, 2007
                                -----------------
             (Date of Event Which Requires Filing of This Statement)

     If the filing  person has  previously  filed a statement on Schedule 13G to
report the  acquisition  that is the subject of this Schedule 13D, and is filing
this  schedule  because  of Rule  13d-1(e),  13d-1(f)  or  13d-1(g),  check  the
following box /_/.

     Note.  Schedules  filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.



--------
1   The  remainder  of this  cover  page  shall be filled  out for a  reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.

     The  information  required on the remainder of this cover page shall not be
deemed to be "filed"  for the purpose of Section 18 of the  Securities  Exchange
Act of 1934 or otherwise  subject to the  liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).


------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                    Page 2 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                           Hummingbird Management, LLC
                    (f/k/a Morningside Value Investors, LLC)
                               IRS No. 13-4082842
--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     OO
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    725,215
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               725,215
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     725,215 (1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     11.5%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON*

                     OO

(1) Includes (a) 47,050 shares of FreeSeas common stock issuable upon
the exercise of warrants held by the the Hummingbird Value Fund, LP, and
(b) 47,050 shares of FreeSeas common stock issuable upon the exercise of
warrants held by the the Hummingbird Microcap Value Fund, LP.
================================================================================

------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                   Page 3 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                                 Paul D. Sonkin
--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     OO
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     UNITED STATES
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    725,215
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               725,215
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     725,215 (1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES*                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     11.5%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON

                     OO

(1) Includes (a) 47,050 shares of FreeSeas common stock issuable upon
the exercise of warrants held by the the Hummingbird Value Fund, LP, and
(b) 47,050 shares of FreeSeas common stock issuable upon the exercise of
warrants held by the the Hummingbird Microcap Value Fund, LP.
================================================================================

------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                      Page 4 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                           Hummingbird Capital, LLC
                    (f/k/a Morningside Capital,  LLC)

--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     OO
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    725,215
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               725,215
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     725,215 (1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     11.5%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON

                     OO


(1) Includes (a) 47,050 shares of FreeSeas common stock issuable upon
the exercise of warrants held by the the Hummingbird Value Fund, LP, and
(b) 47,050 shares of FreeSeas common stock issuable upon the exercise of
warrants held by the the Hummingbird Microcap Value Fund, LP.
================================================================================

------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                      Page 5 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                           Hummingbird Value Fund, L.P.
--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     WC
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                   298,667
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               298,667
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     298,667(1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     4.7%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON

                     LP

(1) Includes 47,050 shares of FreeSeas common stock issuable
upon the exercise of warrants held by the Hummingbird Value Fund, LP.
================================================================================

------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                      Page 6 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                           Hummingbird Microcap Value Fund, L.P.
--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     WC
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    298,311
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               298,311
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     298,311(1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES*                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     4.7%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON

                     LP

(1) Includes 47,050 shares of FreeSeas common stock issuable upon the exercise
of warrants held by the Hummingbird Microcap Value Fund, LP.
================================================================================

------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                      Page 7 of 11 Pages
------------------------                            ----------------------------

================================================================================
     1         NAME OF REPORTING PERSONS S.S. OR
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                           Hummingbird Concentrated Fund, L.P.
--------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) /X/
--------------------------------------------------------------------------------
     3         SEC USE ONLY

--------------------------------------------------------------------------------
     4         SOURCE OF FUNDS
                     WC
--------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 / /
--------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
--------------------------------------------------------------------------------
  NUMBER OF        7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    128,237
  OWNED BY
    EACH
  REPORTING
 PERSON WITH   -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                               -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                               128,237
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                               -0-
--------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     128,237 (1)
--------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
               SHARES*                                               / /
--------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     2.0%
--------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON

                     LP


------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                      Page 8 of 11 Pages
------------------------                            ----------------------------

  AMENDMENT NO. 2 TO SCHEDULE 13D

         This Amendment No. 2, dated January 10, 2007 to Schedule 13D is
filed by the Reporting Persons and amends the Schedule the 13D as previously
filed by the Reporting Persons with the Securities and Exchange Commission
on March 7, 2006 (the "Schedule 13D"),relating to the common
Stock, (the "Common Stock") of FreeSeas, Inc. a corporation domiciled in
Greece.

Items 3 and 5 are hereby amended and restated, as follows:




ITEM 3    SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

          As of January 10, 2007,  Hummingbird  has caused HVF, Microcap Fund
and Concentrated Fund, to invest approximately $1,404,751,$1,403,494 and
$578,652, respectively, in the Shares and warrants of the Issuer using their
respective working capital.


ITEM 5    INTEREST IN SECURITIES OF THE ISSUER

          (a) As investment manager of HVF and Microcap Fund, Hummingbird may
be deemed to have the sole voting and investment authority over the Shares
owned by HVF, Microcap Fund, and Concentrated Fund, for purposes of Rule 13d-3
under the Securities Exchange  Act of 1934, as amended  ("Rule  13d-3"), may
be  deemed  to be the beneficial  owner of 725,215  Shares representing
approximately 11.5% of the  outstanding shares of the Issuer calculated on the
basis of 6,290,100 common stock outstanding as of November 15, 2006, as
disclosed in the issuer's Form 6-K and filed with the SEC on December 1,
2006. Hummingbird disclaims any beneficial ownership of the Shares covered
by this Statement.

          HC, as the general  partner of each of HVF, Microcap Fund, and
Concentrated Fund, Hummingbird may be deemed to have the sole voting and
investment authority over the Shares owned by HVF and Microcap  Fund,for
purposes of Rule 13d-3 under the  Securities Exchange  Act of 1934, as amended
("Rule  13d-3"),  may be  deemed  to be the beneficial  owner of 725,215
Shares representing  approximately 11.5% of the  outstanding shares of the
Issuer calculated on the basis of 6,290,100 common stock outstanding as of
November 15, 2006, as disclosed in the issuer's Form 6-K and filed with the
SEC on December 1, 2006. Hummingbird disclaims any beneficial ownership of the
Shares covered by this Statement.

          HVF is the beneficial owner of 298,311 Shares or 4.7%  of the
outstanding shares of the Issuer, (represents 251,617 shares of FreeSeas Inc.
("FreeSeas") common stock owned by the HVF; and 47,050 shares of FreeSeas
common stock issuable upon the exercise of warrants owned by HVF.)

          Microcap Fund is the beneficial owner of 298,311 Shares or 4.7%
of the outstanding shares of the Issuer,(represents 251,261  shares of FreeSeas
Inc. ("FreeSeas") common stock owned bythe Microcap Fund, and 47,050 shares of
FreeSeas common stock issuable upon the exercise of warrants owned by Microcap
Fund.)

          concentrated Fund is the beneficial owner of 128,237 Shares or 2.0%
of the outstanding shares of the Issuer.



------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                     Page 9 of 11 Pages
------------------------                            ----------------------------

             Hummingbird caused HVF to effect transactions in the
common stock during the past 60 days as set forth below:




                                              AMOUNT OF
   DATE              TYPE                      SHARES         PRICE/SHARE
   ----              ----                      ------         -----------
                                                      
12/22/2006	open market purchase		 1,200		2.965
12/27/2006	open market purchase		   300		3.352
12/28/2006	open market purchase		   800		3.010
12/29/2006	open market purchase		   900		2.938
1/8/2007	open market purchase		   500		3.260
12/22/2006	open market sale		    50		3.040
1/9/2007	open market sale		33,876		4.389



------------------------                            ----------------------------
CUSIP No. Y26496102                13D/A                     Page 10 of 11 Pages
------------------------                            ----------------------------

             Hummingbird caused Microap Fund to effect transactions
in the common stock during the past 60 days as set forth below:




                                              AMOUNT OF
   DATE              TYPE                      SHARES         PRICE/SHARE
   ----              ----                      ------         -----------
                                                      
12/22/2006	open market purchase		 1,200		2.965
12/27/2006	open market purchase		   300		3.352
12/28/2006	open market purchase		   600		3.010
12/29/2006	open market purchase		   900		2.938
1/8/2007	open market purchase		   500		3.260
12/22/2006	open market sale		    50		3.040
1/9/2007	open market sale		33,828		4.389





             Hummingbird caused Concentrated Fund to effect transactions
in the common stock during the past 60 days as set forth below:




                                              AMOUNT OF
   DATE              TYPE                      SHARES         PRICE/SHARE
   ----              ----                      ------         -----------
                                                      
12/28/2006	open market purchase		   600		3.010
1/9/2007	open market sale		17,264		4.389





           (d)         Inapplicable.

           (e)         Inapplicable.




------------------------                            ----------------------------
CUSIP No. Y26496102                13D                       Page 11 of 11 Pages
------------------------                            ----------------------------


ITEM 6   CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT
         TO SECURITIES OF THE ISSUER

         None

ITEM 7   MATERIAL TO BE FILED AS EXHIBITS

         None


                                   SIGNATURES

          After reasonable  inquiry and to the best of our knowledge and belief,
we certify that the  information  set forth in this statement is true, complete
and correct.


Dated: January 10, 2007                 HUMMINGBIRD MANAGEMENT, LLC
                                   (f/k/a Morningside Value Investors, LLC)


                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin
                                       Title: Managing Member


                                    /s/ Paul D. Sonkin
                                   -------------------------------------
                                   PAUL D. SONKIN


                                   HUMMINGBIRD VALUE FUND, L.P.

                                   By: Hummingbird Capital, LLC

                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin
                                       Title: Managing Member

                                   HUMMINGBIRD MICROCAP VALUE
                                   FUND, L.P.

                                   By: Hummingbird Capital, LLC

                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin
                                       Title: Managing Member

                                   HUMMINGBIRD CONCENTRATED
                                   FUND, L.P.


                                   By: Hummingbird Capital, LLC

                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin
                                       Title: Managing Member



                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin

                                   HUMMINGBIRD CAPITAL, LLC
                                   (f/k/a Morningside Capital, LLC)


                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin
                                       Title: Managing Member


                                   By: /s/ Paul D. Sonkin
                                       ---------------------------------
                                       Name: Paul D. Sonkin