Danaos Orders Five Containerships

Wednesday, October 24, 2007
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 capacity of 217,421 TEU or 150% of its current fleet. The total contract deal size is approximately $830m and will be financed by funds and debt. For the first full year of operation, this five vessel block addition to Danaos’ fleet of containerships is expected to contribute approximately $92m of EBITDA, annually upon delivery of all 5 vessels. For this purpose, EBITDA, a non-GAAP measure, shall mean net earnings before interest, un-drawn credit facility fees, taxes, depreciation and amortization of deferred dry-docking charges and financing fees.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Thordon’s COMPAC for US’ Largest Containerships

Thordon Bearings has signed a contract to supply COMPAC seawater-lubricated propeller shaft bearing solutions to two Jones Act containerships under construction at the Aker Philadelphia Shipyard Inc.

Panama Canal Reports Record Tonnage

The Panama Canal Authority (ACP) announced a new tonnage record, welcoming 340.8 million Panama Canal tons (PC/UMS) through the canal for the 2015 fiscal year – a 4.

NYK Joanna Rescues Fishermen off Philippines Coast

On October 3, NYK Joanna, a containership operated by NYK, rescued seven fishermen in distress off the coast of the Philippines. While the NYK vessel was sailing on October 3 from Vungtau,

Marine Science

New Research Vessel for Virginia Institute of Marine Science

JMS Naval Architects will complete the Contract Design Package next month of a 93-foot research vessel for Virginia Institute of Marine Science to replace its current research vessel, Bay Eagle.

DP World Leading M.E. Investor - MEIRS Awards

Global marine terminal operator DP World has collected an impressive four awards including the Grand Prix of ‘Leading Corporate for Investor Relations in the

Algoryx Simulation, Kongsberg Maritime Ink R&D Deal

Kongsberg Maritime and Algoryx Simulation have entered a five year agreement, which supports Kongsberg Maritime’s continuing development of fidelity and realism

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1526 sec (7 req/sec)