Danaos Secures Bareboat Charters for Containerships

Friday, May 25, 2007
Danaos Corporation 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 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 $25.5 million to Danaos, while it expects to book a profit for this part of the sale of $15.7 million.

"We are increasing our contracted revenues and further strengthening the visibility of our earnings" said Dr. Coustas, Chief Executive Officer of Danaos. "Following the recent deal we announced with Hanjin Heavy Industries regarding orders for five Post- Panamax vessels and the immediate chartering of three of these vessels for a period of 15 years each, we are now happy to announce the chartering of the remaining two 6,500 TEU containerships for a period of 18 years each on a bareboat basis, which actually eliminates any operational expense risk. This chartering will increase our aggregate contracted revenue to approximately $ 4.2 billion in total".

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Asia-N.Europe Box Freight Rates Soar 37 pct

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday,

OOCL Renews VOD Training Contract

Videotel, producer and distributor of training videos, 3D animation, and e-Learning courses to the maritime market and part of KVH Industries, Inc., (Nasdaq: KVHI),

 
 
Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1105 sec (9 req/sec)