Greece-based container ship owners, Danaos Corp., reports Q3 & nine months results for period ended September 30, 2012. Highlights for the Third Quarter and Nine Months Ended September 30, 2012: Operating revenues of $156.3 million for the three months ended September 30, 2012 compared to $126.0 million for the three months ended September 30, 2011, an increase of 24.0%. Operating revenues of $437.2 million for the nine months ended September 30, 2012 compared to $339.8 million for the nine months ended September 30, 2011, an increase of 28.7%. Adjusted EBITDA1 of $116.2 million for the three months ended September 30, 2012 compared to $86.2 million for the three months ended September 30, 2011, an increase of 34.8%. Adjusted EBITDA1 of $319.3 million for the nine months ended September 30, 2012 compared to $229.8 million for the nine months ended September 30, 2011, an increase of 38.9%. Adjusted net income of $15.6 million, or $0.14 per share, for the three months ended September 30, 2012 compared to $17.6 million, or $0.16 per share, for the three months ended September 30, 2011. Adjusted net income1 of $48.8 million, or $0.44 per share, for the nine months ended September 30, 2012 compared to $45.0 million, or $0.41 per share, for the nine months ended September 30, 2011.
Danaos Corporation (NYSE: DAC) announced that it has ordered five 12,600 TEU containerships. All five Post Panamax containerships will be built by Hyundai Samho Heavy Industries and are expected to be delivered to Danaos gradually starting from January until August of 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each, at accretive rates. The deal increases Danaos’ contracted fleet to 32 vessels with a total carrying
Danaos Corporation has secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced today that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. LTD according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25
Danaos Corporation has signed an agreement with the United Arab Shipping Corporation to time charter the 3,908 TEU Norasia-Hamburg for a period of 36 months. During the first 12 months of the charter, the charterer has the option to convert the three year charter to a 5 year charter, at lower rate. The charter will begin as of the date when the current employment of this vessel ends in the first quarter of 2008. The Norasia-Hamburg is currently on time charter with CSAV.
Danaos Corporation (NYSE: DAC) announced Jan. 6, 2009, that it took delivery of one more containership, the Zim Monaco, expanding its operational fleet to a total of 39 containerships aggregating 157,427 TEU. The Zim Monaco has a carrying capacity of 4,253 TEU and was built by Samsung Heavy Industries. It is 853 ft long, 105 ft wide and has a speed of 24.5 knots (about 45 Km/h). The Zim Monaco has already commenced its 12-year time charter at fixed rates immediately upon delivery
Greece's Danaos Corporation has completed its new-building program with the delivery of a fifth & final 13,100 TEU vessel Danaos Corporation, containership owners, announced that on June 29, 2012, it took delivery of its fifth and final 13,100 containership, the HYUNDAI AMBITION, expanding its operational fleet to a total of 64 containerships aggregating 363,049 TEU. The HYUNDAI AMBITION, built at Hyundai Samho Heavy Industries Co
Corporation (NYSE: DAC) announced that its Board of Directors has approved a share repurchase program and authorized the officers of the company to repurchase, from time to time, up to 1,000,000 shares of the company's common stock (par value $0.01). Danaos Corporation is an international owner of containerships. It currently has a fleet of 39 containerships, aggregating 156,275 TEUs. (www.danaos.com)
Athens, Greece, March 17, 2011 – Danaos Corporation ("Danaos") (NYSE: DAC), an international owner of containerships, reported unaudited results for the period ended December 31, 2010. Highlights for the Fourth Quarter and Full Year Ended December 31, 2010: * We took delivery of one 3,400 TEU containership in October 2010, and two more newly built vessels with an aggregate carrying capacity of 13,500 TEU during 2011.
Athens, Greece, April 6, 2011 - Danaos Corporation (NYSE: DAC) a leading international owner of containerships, announced that on March 10, 2011 and April 6, 2011, it took delivery of two newly built containerships, the Hanjin Germany and the Hanjin Italy, expanding its operational fleet to a total of 53 containerships aggregating 243,529 TEU. The Hanjin Germany and the Hanjin Italy, built at Hyundai Samho Heavy Industries Co
Containership owner Danaos Corporation announced that on July 8, 2011, it took delivery of one more newly built containership, the CMA CGM ATTILA, expanding its operational fleet to 56 containerships aggregating 265,559 TEU. The CMA CGM ATTILA, built at Shanghai Jiangnan Changxing Heavy Industry, has a carrying capacity of 8,530 TEU, is 335 meters long and 42.8 meters wide, and has a speed of 25.80 knots. This large post panamax vessel is the largest containership ever built in China and
Mexican state power utility CFE has declared 'force majeure' on imports into the Manzanillo liquefied natural gas (LNG) terminal after Hurricane Manuel damaged a pipeline, reports Reuters, citing a source with knowledge of the incident. The line in question, the Guadalajara Pipeline
Capital Corp Merchant Banking, a U.S.-based merchant banking group, say they have been working on an environmentally friendly ballast water treatment system (BWTS) project with a client and have entered into USD $41-million funding agreement with them.
A new three-year European Research Project, partly funded by the EU has been launched to help increase efficiencies in regulation compliance and enforcement for the maritime sector. e-Compliance will facilitate tighter integration and cooperation in the fragmented field of regulatory compliance
Greek container ship owners, Danaos Corp. reports unaudit financial results for the period ended September 30, 2013 for its chartered out container ship fleet. Highlights for the Third Quarter and Nine Months Ended September 30, 2013 Operating revenues of $148
Metropolitan Stevedore Co., established in 1923 in Southern California and with business roots dating back to the 1850s gold rush era through its original San Francisco parent corporation, California Stevedore and Ballast Co., is celebrating its 90th anniversary.
Evergreen Marine Corp. partnered with French-based CMA CGM Grou, & Yang Ming Marine both offer new container services. Evergreen's new route, called South Red Sea Service, connects Southeast Asia, the Indian subcontinent, and countries near the Red Sea
Carnival Corp, resists reimbursement of costs incurred by US Government through assistance rendered to their disabled 'Carnival Triumph'. Carnival Corp. says all maritime interests must assist without question those in trouble at sea, a duty that would not include reimbursing the U.S
Creditors are expected to inject 800-billion Won (US$ 730-million) into STX Group during 2013, according to Yonhap News Agency. Creditors of STX Group will likely pump at least 800 billion won (US$730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat
US's Duma Energy Corp. says it has received new 3D seismic data in its search for deeper oil reserves in its Galveston Bay producing fields. This new data, which covers three of Duma's fields in Galveston Bay, is part of a broader effort by several other large independent oil companies to
The Board and Management of Keppel Corporation Limited (Keppel Corp) has announced the Group's holistic succession plan in charting its next lap of growth. On 1 January 2014, Mr Choo Chiau Beng, 65, CEO of Keppel Corp, will be succeeded by CFO Mr Loh Chin Hua
Ronai & Ronai, LLP, a New York law firm that represents victims, including Sandor Feher, a musician who lost his life while trying to evacuate passengers, believes that the criminality of the deaths should also be placed on Costa Crociere/Carnival Corp
Highlights for the company's Second Quarter & Half Year Ended June 30, 2013 are as follows: Operating revenues of $146.6 million for the three months ended June 30, 2013 compared to $146.7 million for the three months ended June 30, 2012, a decrease of 0.1%. Operating revenues of $292
US Defense Department, Navy, has awarded General Dynamics Corp. -- Bath Iron Works Corp., Bath, Maine, a $212,000,000 fixed-price incentive (firm target) contract for the design and construction of a steel superstructure (deckhouse and hangar) plus construction of an aft peripheral vertical
Navy contracts have been awarded, amongst others, to Northrop Grumman Systems Corp. to provide LCS mission modules, and to Electric Boat Corp. for Virginia-class submarine spare parts manufacture and procurement. Northrop Grumman Systems Corp., Bethpage, N.Y
The Navy has awarded four Preliminary Design Review (PDR) contracts for the Unmanned Carrier Launched Airborne Surveillance and Strike (UCLASS) air vehicle segment. UCLASS will be the first deployed carrier-based unmanned air system. It will provide persistent, unmanned, semi-autonomous