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Danaos Corporation Reports Q1 Results

May 5, 2011

Athens, Greece, May 4, 2011 - Danaos Corporation (DAC) ("Danaos") (NYSE: DAC), a leading international owner of containerships, today reported unaudited results for the period ended March 31, 2011.

Highlights for the First Quarter Ended March 31, 2011:

    * During the first quarter of 2011, we took delivery and deployed two newly built containership vessels with an aggregate carrying capacity of 13,500 TEU.
    * Operating revenues of $99.0 million for the quarter ended March 31, 2011.
    * Adjusted net income of $11.4 million or $0.10 per share for the quarter ended March 31, 2011.
    * Adjusted EBITDA1 of $65.2 million for the quarter ended March 31, 2011.


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