Danaos Orders TEU Post Panamax Containerships

Wednesday, December 12, 2007
Danaos Corporation announced that it has ordered three 10,100 TEU containerships. All three Post Panamax containerships will be built by Hyundai Samho Heavy Industries and are expected to be delivered to Danaos in January, February and March of 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each, at accretive rates. This deal increases Danaos' contracted fleet of newbuildings to 34 vessels with a total carrying capacity of 243,468TEU or 160% of its current fleet.

The total contract deal size for these three vessels is approximately $450 million and will be financed by own funds and debt. Upon delivery, this three vessel block addition to Danaos' fleet of containerships is expected to contribute annually approximately $ 51 million of additional EBITDA. 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. On November 26, 2007, in ceremony held at the premises of Samsung Heavy Industries' shipbuilding facilities, Danaos took delivery of its 37th containership, the YM Vancouver which immediately commenced its 12 year charter with Yang Ming Lines.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

KR Launches Software to Aid ECA Compliance

The Korean Register (KR) has launched an in-house developed software program to assist vessels with fuel oil change over when complying with the new low sulphur regulations.

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

Winter Storm Closes New York/New Jersey Terminals

All marine terminals at the Port of New York and New Jersey are expected to close around 3: 30 p.m. today and remain closed all day tomorrow as a severe winter

Container Ships

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

RUMBA Sails with 'Spirit of Malabo' Onboard

A container carrying the twenty-four foot Brazilian built ocean rowboat, Spirit of Malabo, left the Port of Cap Haitian on Saturday en-route to Port Everglades

Batangas Port Sets Container Record

Batangas Container Terminal (BCT) set a new record in 2014 for containers handled, says its operator Asian Terminals, Inc. (ATI).  Port handled over 98,000 twenty-foot-equivalent

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0965 sec (10 req/sec)