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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 Corporation (NYSE: DAC) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report can be accessed on the company's website. Danaos is noted for being one of the largest independent owners of containerships, managing a fleet of 68 vessels with a total capacity of 421,293 TEUs, plus 6 new ships under construction. The company's charter agreements are largely fixed-rate with major liner companies, emphasizing its strong operational standards and environmental controls.
Danaos Corporation (NYSE: DAC) reported robust financial results for Q4 and the year ended December 31, 2022, showcasing a significant increase in adjusted net income of $141.6 million ($6.99 per share) for Q4, up 12.6% YoY, and $711 million ($34.68 per share) for the year, up 96.2% YoY. Operating revenues reached $252.5 million for Q4 and $993.3 million annually, marking increases of 17.4% and 44.1% respectively. The company has declared a quarterly dividend of $0.75 per share, payable March 14, 2023. Despite a strong performance, CEO Dr. John Coustas warned of declining container market conditions ahead, with challenges anticipated in 2023.
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