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

Environmental

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

Shipping's GHG Emissions Down

The total Green House Gas (GHG) emissions from global maritime transport are estimated to have been over 20% lower in 2012 than in 2007, according to "London Matters

Container Ships

MOL Restructures Asia to S. Africa Service

Mitsui O.S.K. Lines, Ltd. (MOL) announced the restructuring of its existing Asia to South Africa liner services into two direct loops. One service will call South China,

Report on MOL Comfort Incident is out

In response to the casualty of “MOL COMFORT” which occurred on 17 June 2013, ClassNK established the Investigative Panel on Large Container Ship Safety, comprised

DMR Examines Container Terminal Congestion Issues

Container port congestion has been hitting the headlines recently, but the reasons for it vary widely and in many cases it is only a short term issue. Certain world

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Electronics 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: 0.1031 sec (10 req/sec)