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

Container Ships

Young Taken on PESA Advisory Board

Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term.

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction 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: 0.0607 sec (16 req/sec)