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Danaos Corporation (NYSE: DAC) is a leading independent owner and operator of modern containerships, providing international seaborne transportation services. Established in 1972 and headquartered in Piraeus, Greece, Danaos Corporation has built a robust reputation in the shipping industry through its efficient and reliable service offerings.
Fleet and Operations: As of October 2020, Danaos Corporation's fleet comprised 63 containerships with a total capacity of 385,769 twenty-foot equivalent units (TEUs). The fleet has since grown to 68 containerships aggregating 421,293 TEUs, with an additional 12 containerships under construction, which will add another 91,430 TEUs upon completion. Recently, the company expanded its portfolio by investing in the dry bulk sector, acquiring seven capesize bulk carriers totaling 1,231,157 DWT, with plans to acquire two more capesize bulk carriers aggregating 354,579 DWT.
Global Reach: Danaos Corporation operates across Australia, Asia, Europe, and the United States. The company's seaborne transportation services involve chartering vessels to some of the world's largest liner companies including HMM, MSC, Yang Ming, Hapag Lloyd, ZIM, Maersk, COSCO, OOCL, ONE, PIL, Sealead, Niledutch, Samudera, OSC, and Arkas.
Financial Performance and Stability: Danaos generates the majority of its revenue from the container vessels segment, with significant contributions from the Australia-Asia region. The company’s long-standing relationships with major liner companies and its modern fleet contribute to stable and predictable revenue streams.
Recent Achievements: Danaos Corporation recently announced its fourth-quarter results for the period ending December 31, 2023, demonstrating continued financial health and operational excellence. The company continues to focus on expanding its fleet and maintaining rigorous operational and environmental standards.
Partnerships and Clients: Danaos Corporation's client portfolio includes some of the largest and most reputable liner companies globally. These partnerships are built on a foundation of reliability and excellence, ensuring the company's vessels are consistently in demand.
For more information and the latest updates, visit Danaos Corporation's website.
Danaos reported Q3 2024 results with operating revenues of $256.2 million, up 7.1% from Q3 2023. Net income was $123.0 million ($6.30 per diluted share), compared to $133.2 million in Q3 2023. The company took delivery of 3 newbuilding containerships and has 14 more vessels on order. Total contracted cash operating revenues stand at $3.3 billion, with fleet charter coverage at 100% for 2024, 94% for 2025, and 73% for 2026. Danaos increased its quarterly dividend by 6.25% to $0.85 per share and has repurchased $123.2 million worth of shares under its buyback program.
Danaos (NYSE: DAC), a leading independent containership owner, will release its Q3 2024 financial results on November 12, 2024, before market open. Management will host a conference call at 9:00 A.M. ET the same day. The company currently operates 73 containerships totaling 465,463 TEUs, with 14 vessels under construction adding 115,834 TEUs. Danaos has also expanded into the drybulk sector with 10 Capesize vessels totaling 1,760,861 DWT. Their fleet serves major liner companies under fixed-rate charters.
Danaos (NYSE: DAC) announced its financial results for Q2 and H1 2024. The total operating revenues for Q2 were $246.3 million, up 2% from Q2 2023. Net income for Q2 2024 was $141.2 million, a slight decline from $147 million in Q2 2023. Earnings per diluted share decreased to $7.23 from $7.32. The company reported $3.2 billion in contracted operating revenues and a robust balance sheet with $786.7 million in total liquidity. Danaos secured multi-year charters for its new vessels and expanded its newbuilding program to 20 vessels, emphasizing eco-friendly designs. For H1 2024, net income was $291.7 million, down from $293.2 million in H1 2023. Operating expenses rose significantly, impacting adjusted EBITDA, which stood at $176.8 million for Q2 2024, down slightly from $177.3 million. Danaos also repurchased shares worth $104.4 million and declared a $0.80 per share dividend, payable on August 29, 2024.
Danaos (NYSE: DAC), a leading independent owner of containerships, has announced the release date for its Q2 2024 financial results. The company will disclose its results on August 5, 2024, after the New York market closes. A conference call and webcast are scheduled for August 6, 2024, at 9:00 A.M. ET to discuss the results.
Danaos currently owns a fleet of 70 containerships with a total capacity of 442,278 TEUs, with an additional 16 vessels under construction adding 129,819 TEUs. The company has also expanded into the drybulk sector, acquiring 10 Capesize vessels with a total capacity of 1,760,861 DWT. Danaos charters its vessels to major liner companies on fixed-rate contracts.
Danaos , a leading independent owner of containerships, announced significant updates to its contracted revenue backlog and vessel orders. The company has added $616 million to its contracted revenue backlog, comprising $203 million from two-year charter fixtures for nine existing vessels and $413 million from charter fixtures for five newbuilding orders. The new vessels, costing $509 million, include one 8,258 TEU vessel and four 9,200 TEU vessels, set for delivery between 2027 and 2028 from Chinese shipyards. These ships will feature advanced eco-designs and comply with the latest IMO standards. Danaos' total contracted cash operating revenues now stand at $2.9 billion, with an average charter duration of 3.1 years. The company's fleet's contracted operating days are covered 99% for 2024 and 80% for 2025.
Danaos (NYSE: DAC), a leading owner of container and drybulk vessels, reported its unaudited first-quarter results for 2024.
Key financial metrics include operating revenues of $253.4 million, a 4% increase from Q1 2023. Net income was $150.5 million, or $7.68 per diluted share.
Adjusted EBITDA decreased slightly to $177.2 million from $179.0 million in Q1 2023. The company acquired 7 Capesize drybulk vessels, contributing $20 million in new operating revenues. Vessel operating expenses rose to $43.1 million.
As of March 31, 2024, Danaos had $747.6 million in total liquidity, including cash, equivalents, and marketable securities. The company also secured $450 million in financing for newbuildings and declared an $0.80 dividend per share for Q1 2024, payable on June 20, 2024.
Total contracted cash operating revenues stand at $2.5 billion with an average charter duration of 2.9 years.
Danaos (NYSE: DAC) will release its first quarter 2024 results on May 28, 2024, followed by a conference call. The company owns 69 containerships with 434,268 TEUs and is expanding its fleet. Danaos' shares trade on the NYSE under the symbol 'DAC'.
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