Danaos Corporation Announces the Ordering of Two 7,100 TEU Containerships

Rhea-AI Summary

Danaos Corporation (NYSE: DAC) announced the order of two 7,100 TEU containerships, expected for delivery in Q2 and Q3 of 2024. The vessels will be constructed at Dalian Shipbuilding in China and will meet the International Maritime Organization's Tier III emissions and Energy Efficiency Design Index standards. CEO John Coustas stated that these ships will strengthen Danaos' position in the containership market and enhance profitability for shareholders.

Positive

• Order of two 7,100 TEU containerships expected to enhance fleet capacity and competitiveness.
• Vessels are methanol fuel ready and comply with stringent emission standards, which may attract environmentally-conscious clients.

Negative

• None.

ATHENS, Greece--(BUSINESS WIRE)-- Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, announced today that it has placed orders for two 7,100 TEU containerships. The vessels will be built at Dalian Shipbuilding in China and are expected to be delivered to Danaos in the 2^nd and 3^rd quarter of 2024. The counterparties of Danaos to the shipbuilding contracts, Dalian Shipbuilding and CSTC are both subsidiaries of CSSC, one of the world’s largest shipbuilding groups.

The vessels will be methanol fuel ready and will be built in accordance with the latest requirements of the International Maritime Organization (IMO) in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III.

The Company’s CEO, Dr. John Coustas, commented:

“We are very pleased to announce the commissioning of two 7,100 TEU containerships. These vessels are at the forefront of new technology, come with the latest specifications on emissions requirements and are methanol ready. With this order Danaos continues to solidify its position as one of the major players in the containership market worldwide. We will continue to work to maximize our profitability and secure more accretive transactions with a focus on creating value for our shareholders.”

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our fleet of 71 containerships aggregating 436,589 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.

Visit our website at www.danaos.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220313005042/en/

Company:

Evangelos Chatzis 

Chief Financial Officer

Danaos Corporation

Athens, Greece

Tel: +30 210 419 6480 

E-Mail: cfo@danaos.com

Iraklis Prokopakis

Senior Vice President & Chief Operating Officer

Danaos Corporation

Athens, Greece

Tel. +30 210 419 6400

E-Mail: coo@danaos.com

Investor Relations and Financial Media:



Rose & Company

New York

Tel. 212-359-2228

E-Mail: danaos@rosecoglobal.com

Source: Danaos Corporation

FAQ

What is Danaos Corporation's recent ship order announcement?

Danaos Corporation announced an order for two 7,100 TEU containerships to be delivered in Q2 and Q3 of 2024.

Where are the new containerships being built?

The containerships will be built at Dalian Shipbuilding in China.

What delivery timeline has Danaos Corporation provided for the new vessels?

The vessels are expected to be delivered in the second and third quarters of 2024.

What environmental standards will the new containerships meet?

The vessels will comply with the International Maritime Organization's Tier III emissions and Energy Efficiency Design Index standards.

How does this order affect Danaos Corporation's market position?

This order enhances Danaos' competitiveness in the containership market and aims to maximize profitability for shareholders.