Danaos Arranges Charters Even For Fully Depreciated Vessels

Tuesday, March 11, 2008


Danaos Corporation announced that it has signed an agreement with MCC, a subsidiary of MAERSK, and has already time-chartered the 30 year old S.A. Helderberg, a 3,100 TEU containership, for a period of 12 months beginning December 2007 at fixed daily rates. Danaos also time-chartered its sister ship, the S.A. Sederberg to CMA-CGM at a fixed one year accretive rate. The Company also sold the other 30 year old sister ship to the above mentioned vessels, the S.A Winterberd, to an undisclosed and unrelated third party for approximately $11m booking profits in excess of $5.5m as a result of this transaction. Further, Danaos announced that it has re-chartered the 30 year old Eagle Express to MSC and the to Senator Lines both for two years at accretive rates.

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