Danaos Adds 4,253 TEU Containership

Thursday, November 06, 2008

Danaos Corporation (NYSE: DAC) announced that on November 3, 2008, it took delivery of one more containership, the Zim Kingston. The vessel has a carrying capacity of 4,253 TEU, was built by Samsung Heavy Industries and was delivered on schedule. The Zim Kingston has already commenced its 12 year time charter at fixed rates immediately upon delivery.

Dr. Coustas, Chief Executive Officer of Danaos, said, "The vessel is chartered at an accretive fixed charter rate which provides Danaos with an effective hedge against market charter rate fluctuations. We expect that this addition to our fleet, along with another 31 vessels currently on order will contribute substantially to our distributable cash flow and net earnings and will continue to support a solid base for our dividend policy while boosting shareholder value.”

Danaos Corporation is an international owner of containerships, chartering its vessels to liner companies. It has a fleet of 39 containerships aggregating 156,275 TEUs. The company has a contracted fleet of 31 additional containerships aggregating 230,709 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

(www.danaos.com)

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

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0622 sec (16 req/sec)