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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Hamburg Süd Christens Containership in S. Korea

Hamburg Süd yesterday celebrated the christening of its new containership San Christobal with customers and business partners at the Hyundai Heavy Industries shipyard in Ulsan, South Korea.

Nine Share in US$6-B DoD Contract Modifications

The US Department of Defense informs that nine companies have each been awarded indefinite-delivery/indefinite-quantity fixed-price option-year two modifications

Marine Science

BMT WBM to Showcase TUFLOW at World Bank Seminar

BMT WBM ( (BMT), a subsidiary of BMT Group Ltd, a leading international engineering and risk management consultancy, is delighted to announce that it will be presenting

RWE Dea Helps Cleveland Juniors Reach Goals

Yesterday, a new club house for the Cleveland Juniors Football Club in Middlesbrough in northern England was officially opened. With support from RWE Dea, the

DNV GL & MMGI Take Global Risk Identification Initiative

The partners inform that a new global initiative launched by DNV GL and Monday Morning Global Institute (MMGI) aims to identify opportunities for sustainable responses to a range of global risks.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0970 sec (10 req/sec)