Welcome to our dedicated page for Danaos Corporation news (Ticker: DAC), a resource for investors and traders seeking the latest updates and insights on Danaos Corporation stock.
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) will announce its fourth-quarter results for the period ending December 31, 2022, after market close on February 14, 2023. A conference call discussing these results is scheduled for February 15, 2023, at 9:00 A.M. ET. Participants can join by dialing specific numbers or listening via a live audio webcast on the company's website. Danaos operates one of the largest fleets of containerships, with a total of 68 vessels and an additional 6 under construction, providing fixed-rate charters to major liner companies worldwide.
Danaos Corporation (NYSE: DAC) has announced plans to repurchase $37.234 million of its 8.500% unsecured senior notes due 2028 through a privately negotiated transaction. This move is expected to enhance shareholder value by reducing outstanding debt. Danaos is among the largest independent owners of containerships, operating a fleet of 69 vessels with a total capacity of 423,745 TEUs. The company remains committed to operational excellence and maintaining strong relationships with charterers.
Danaos Corporation (NYSE: DAC) reported strong financial results for the third quarter and nine months ended September 30, 2022. Adjusted net income surged 61.6% to $176.9 million, or $8.71 per share, compared to the previous year. For nine months, adjusted net income rose 140.8% to $569.3 million. Operating revenue increased by 32.7% for Q3 and 56.1% year-to-date, reaching $260 million and $740.9 million respectively. Cash on hand was $556.3 million, and the company declared a dividend of $0.75 per share. Effective refinancing agreements extend debt maturity until 2027, enhancing financial flexibility.
Danaos Corporation (NYSE: DAC) will announce its Q3 2022 results after market close on November 7, 2022. A conference call is scheduled for November 8 at 9:00 A.M. ET to discuss these results. Participants can join the call via provided international numbers. A telephonic replay will be available until November 15, 2022. Danaos operates a fleet of 71 containerships totaling 436,589 TEUs, with a strong chartering portfolio. This announcement highlights the company's ongoing operational standards and market position among leading containership charter owners.
Danaos Corporation (NYSE: DAC) reported robust financial results for Q2 and the first half of 2022. Adjusted net income surged by 128% to $157.1 million, equating to $7.59 per share, while the six-month figure reached $392.4 million, reflecting a 209% increase. Operating revenues rose 71.4% to $250.9 million for Q2 and 72.6% to $480.8 million for six months. The company maintained a strong liquidity position with $588.2 million in cash and securities. A $0.75 dividend per share was declared, payable on August 29, 2022. Challenges remain due to macroeconomic factors, high energy prices, and inflation.
Danaos Corporation (NYSE: DAC) announced its second-quarter results will be released on August 1, 2022, after market close. A conference call is scheduled for August 2, 2022, at 9:00 A.M. ET, providing an opportunity for stakeholders to discuss the results. Danaos, a significant owner of containerships, has a fleet of 71 vessels with a total capacity of 436,589 TEUs and 6 additional ships under construction. The company is known for fixed-rate charters with major liner companies, highlighting its operational efficiency.
Danaos Corporation (NYSE: DAC) reported strong Q1 2022 earnings, with adjusted net income surging 305.7% to $235.3 million ($11.36 per share), compared to $58 million ($2.83 per share) in Q1 2021. Net income rose to $331.5 million ($16.00 per share) from $296.8 million ($14.47 per share). Operating revenues increased 74% to $229.9 million. The company declared a $0.75 per share dividend, payable June 8, 2022. Danaos continues to manage a solid balance sheet with $708 million in liquidity and a 95.5% charter coverage for the next 12 months, while focusing on fleet expansion and debt repayment.
Danaos Corporation (NYSE: DAC), a major independent owner of containerships, will release Q1 results on May 16, 2022, after market close. A conference call for discussion will follow on May 17, 2022, at 9:00 A.M. ET. The call can be accessed via U.S. and international dial-in numbers provided. An audio webcast will also be available on the company's website, with an archived version released within 48 hours. Danaos operates a fleet of 77 containerships, with a total capacity of 482,789 TEUs, ranking among the largest charter owners globally.
Danaos Corporation (NYSE: DAC) has ordered four 7,200 TEU containerships, set for delivery in the first half of 2024 from Daehan Shipbuilding in Korea. These vessels will comply with the latest International Maritime Organization standards, featuring methanol fuel readiness and open loop scrubbers. CEO John Coustas highlighted that this investment aims to mitigate rising fuel costs and technical obsolescence while enhancing profitability. With a fleet of 77 vessels totaling 479,589 TEUs, Danaos continues to strengthen its position in the containership market.
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.
FAQ
What is the current stock price of Danaos Corporation (DAC)?
What is the market cap of Danaos Corporation (DAC)?
What services does Danaos Corporation provide?
Where does Danaos Corporation operate?
Who are some of Danaos Corporation's clients?
What is the size of Danaos Corporation's fleet?
What recent achievements has Danaos Corporation made?
What is the history of Danaos Corporation?
How does Danaos Corporation generate revenue?
Has Danaos Corporation expanded into any new sectors recently?
What is Danaos Corporation's stock symbol?
Where can I find more information about Danaos Corporation?
