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Danaos Shipping News

05 Sep 2022

SafeNav: New Collision Prevention Solution Unveiled

SafeNav inventor Captain Jorgen Grindevoll (Photo: Ladar Ltd)

The SafeNav (Safer Navigation) maritime safety project, co-funded by the European Commission and UK Research and Innovation (UKRI), was officially launched on September 1.The EUR 8 million project aims to beat a path towards safer and more secure bridge navigation today while moving toward tomorrow’s world of remote operations and autonomous shipping. “The ambition and objective of the project is to develop and test a highly innovative collision-prevention solution that will significantly reduce the probability of collisions and groundings…

25 Oct 2021

Weather Hampering Efforts to Board Fire-stricken Containership off Canada

(Photo: Canadian Coast Guard)

Bad weather off Canada's Pacific Coast on Monday prevented a salvage crew from boarding a cargo ship where several containers of chemicals burned over the weekend, the coast guard said.Sixteen crew members were evacuated from the MV Zim Kingston on Saturday. Five remained onboard to fight the fire, which was largely under control by late Sunday.The company has appointed a salvage crew "but due to the current weather, (they) have been unable to board the container ship", the coast…

24 Oct 2021

Fire Breaks Out on Containership off British Columbia

The Zim Kingston caught fire a day after losing 40 containers while moored approximately five nautical miles from Victoria. (Photo: U.S. Coast Guard)

A container fire that broke out on Saturday on a cargo ship carrying mining chemicals off British Columbia is smoldering and appears to be under control, Canadian Coast Guard officials said on Sunday.Sixteen crew members were evacuated from the MV Zim Kingston on Saturday, while five remained onboard to fight the fire.The ship is anchored several kilometers off the southern coast of Vancouver Island. Residents of the island are not in danger, officials said, and transit of commercial…

01 Aug 2019

GEA, Danaos Collaborate with Separators

Photo: GEA

Mile by mile better and more efficient: With the new GEA marine Separator 35 GEA supports its long-standing customer and partner Danaos Shipping, Greece. With a fleet of 60 container ships, Danaos Shipping ranks among the top 3 in the Greek shipping business. The company was founded in 1972 by Dr. Dimitris Koustas. Today, his son, Dr John Koustas, who also has more than 30 years of extensive experience in the shipping industry, is President and CEO. Danaos shipping is very active in researching innovations in ship operation and has participated in several EU-funded projects.

20 Jun 2018

Danaos Corporation Refinances USD 2.2bln in Debt

Danaos Corporation, a leading international owner of containerships, has reached an agreement with certain of its lenders currently holding approximately $2.2 billion of debt maturing on December 31, 2018, that will significantly strengthen the Company's capital structure and result in a debt reduction of approximately $551 million. Pursuant to a comprehensive debt re-financing agreement (RA) with certain of its lenders, as well as Danaos Investment Limited as Trustee of the 883 Trust (DIL), its largest stockholder, and its manager, Danaos Shipping Co. Ltd., the Company will strengthen its financial position through a significant debt reduction…

09 Aug 2016

Ince to Advise Danaos on HMM Restructuring

Ince & Co’s London and Piraeus corporate, finance and shipping teams have advised long-standing client Danaos Corporation on Korean container line Hyundai Merchant Marine Co. (HMM), Ltd.’s US$2.1 billion restructuring. New York Stock Exchange listed Danaos Corporation is a leading international owner of container ships, chartering vessels to many of the world's largest liner companies. The restructuring completed on 23rd July 2016 when HMM issued 151,292,727 new shares to creditors as part of a debt for equity swap. With 13 vessels on long-term charter to HMM, Danaos is the largest single shipowner in HMM’s fleet. Along with other container shipowners…

26 May 2016

MAN Bags Danaos Shipping Propeller Order

MAN Diesel & Turbo has won the order to supply Danaos Shipping Co. Ltd. with fixed pitch Kappel propellers, propeller boss caps with fins, and Engine Power Limitation for two container vessels – the 8,500 TEU ‘CSCL Europe’ and ‘CSCL America’. Mr. Dimitrios Vastarouchas, Technical Director & Deputy Chief Operating Officer of Danaos said: “At Danaos we look forward to have the vessels upgraded. Our R&D Department has conducted very thorough investigations before concluding what the right upgrade solutions for these vessels are and we are confident that the vessels will be highly competitive in the market once upgraded”. Both container vessels are powered by MAN B&W 12K98MC-C main engines rated at 68,520 kW at 104 RPM.

25 Nov 2015

Greek Shipowners Fiercing Protect Tax Breaks

Shipping minister says current measurement method not effective. On the day he took office as Greece's shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90-year-old shipowner. He still remembers the older man's words: "Don't forget, the best minister of shipping and maritime affairs is the minister who is doing nothing for the shipping industry. That's the way Greek shipowners like it. The magnates who run one of the biggest merchant marine fleets in the world have long argued that if Greece tried to tax them, they would leave - and that their departure would devastate the economy. In recent years, as international institutions repeatedly bailed out Greece, the lenders have also pushed Athens to beef up its tax take.

01 Dec 2014

Inlecom Introduces i-Ship

Photos by Inlecom

Inlecom Systems Ltd (Inlecom) has launched i-Ship, an innovative software application, enabling ship representatives to fulfil their reporting obligations to European and International maritime and custom authorities with greater speed and efficiency. Developed as part of the part EU-funded FP7 eMAR project, i-Ship has been designed specifically to automate reporting formalities in a timely and correct manner taking into account the type of ship and/or voyage and is fully compliant with Directive 2010/65/EU.

20 Aug 2014

VSTEP Delivers FMB Simulator to Danaos

Danaos Corporation purchased a NAUTIS DNV Class A FMB Simulator and Instructor Station for training of its fleet members. The simulator will be delivered and installed by VSTEP at Danaos Shipping Co Ltd. Headquarters in Piraeus, Greece. The simulator purchased by Danaos Corporation included a NAUTIS DNV Class A FMB simulator with 240° horizontal field of view and an Instructor Station. It will be used to train navigation and maneuvering with the container vessels of the Danaos fleet.

04 Dec 2013

e-Compliance: Revolutionizing the Efficiency of Compliance for Maritime Regs

Philipp Lohrmann

Commercial seaborne shipping is regulated by international, EU and national authorities and is subject to a number of commercially oriented constraints. The long history and large number of organizations associated with regulation has led to a high level of complexity in managing the development of regulations, their implementation by transport operators, and their enforcement by authorities. The complexity of the situation is further aggravated by the long lifetime of ships, the different phases of ship operations…

02 Oct 2013

EU Project Aims to Improve Efficiency of Maritime Regulations

A new three-year European Research Project, partly funded by the EU has been launched to help increase efficiencies in regulation compliance and enforcement for the maritime sector. e-Compliance will facilitate tighter integration and cooperation in the fragmented field of regulatory compliance. It will closely align with the EU e-Maritime initiative of which a key priority is supporting authorities and shipping operators to collaborate electronically in regulatory information management. The maritime sector is, by necessity, heavily regulated.

04 May 2012

Vizada Signs Agreement with Danos Shipping

Vizada and Vizada Elite Partner SRH Marine Electronics S.A. have signed a 24-month agreement with Danaos Shipping Co. Ltd to equip the company’s fleet of vessels with a full broadband communications system. The partners will provide 1 GB connectivity over Inmarsat FleetBroadband terminals, connectivity will be further enhanced by Vizada XChange and the Vizada Crew PC for optimal internet usage. Danaos Shipping Co. Ltd is a Greece based ship manager which provides ship management services to one of the world’s largest fleets of containerships…

10 Apr 2012

ExxonMobil Helps Danaos Extends Piston Overhaul

MV CSCL Europe’s 12-cylinder DOOSAN-MAN B&W K98MC-C engine is lubricated with Mobilgard 570, a cylinder oil formulated by ExxonMobil to reduce piston wear and deposits, and extend piston overhaul intervals in two-stroke marine diesel engines.

Engineers from Athens-based Danaos Shipping together with ExxonMobil, reportedly extended the overhaul interval required for a piston in a DOOSAN-MAN B&W 12-cylinder K98MC-C engine from 16,000 hours to 42,575 hours. A recent overhaul revealed that cylinder number 11 was in remarkably good condition, with a negligible liner wear rate. The achievement took place aboard the containership MV CSCL Europe, which is chartered to China Shipping Container Lines. Representatives from Danaos Shipping and ExxonMobil systematically monitored the condition of the engine throughout the overhauling process.

16 Feb 2012

ExxonMobil Helps Danaos Shipping Extend Engine Life

MV CSCL Europe’s 12-cylinder DOOSAN-MAN B&W K98MC-C engine is lubricated with Mobilgard 570, a cylinder oil formulated by ExxonMobil to reduce piston wear and deposits, and extend piston overhaul intervals in two-stroke marine diesel engines.

Engineers from Athens-based Danaos Shipping together with ExxonMobil, have reportedly extended the overhaul interval required for a piston in a DOOSAN-MAN B&W 12-cylinder K98MC-C engine from 16,000 hours to 42,575 hours. A recent overhaul revealed that cylinder number 11 was in remarkably good condition, with a negligible liner wear rate. The achievement took place aboard the containership MV CSCL Europe, which is chartered to China Shipping Container Lines. Representatives from…

11 Feb 2011

Flagship-EEM Enables Reduction of Fuel Consumption

Photo courtesy Emmett & Smith

Flagship, a part EU-funded maritime transport project, has achieved major advances in accurately measuring on-board power requirements and thereby enabling a reduction in fuel consumption through the development of Flagship-EEM (Energy Efficiency Monitoring). The system enables data acquisition and analysis to continuously evaluate power requirements at every stage of a vessel’s voyage. The system provides information that enables improved fuel consumption that can reduce both operational costs and its environmental impact.

28 Apr 2008

KR Fleet Tops 30m GT

The surge in fleet size – up almost 4 million gt from last year – has been driven largely by 2007’s healthy newbuilding market and includes a wide range of vessels including bulk carriers and tankers (to be built according to IACS Common Structural Rules), containerships, VLOCs and PCTCs. “We’ve been focusing on international growth and the Chinese market has been a particular target. We’ve expanded our resources in China to provide a wide-range of technical support to the local shipyards and opened two additional Chinese branch offices in Nanjing and Ningbo. As a result, of the 143 new KR-classed vessels being build outside Korea, 69 are to be built in China.

11 Oct 1999

NOL To Charter Two Vessels For APL

Neptune Orient Lines Ltd (NOL) will reportedly charter two new large container ships for use by APL, its container transportation and logistics unit. The two vessels, each with a capacity of 5,500 teu, will be deployed by APL in Asia-Europe trade, the company reported. NOL officials said the two vessels, to be built at the Samsung Heavy Industries yards at Koje Island in South Korea, were scheduled to be delivered in mid-2001. NOL will charter the vessels from owner Greece-based Danaos Shipping Company for a period of five years or longer, bringing total NOL container capacity to about 215,000 teu.

15 Oct 1999

NOL To Charter Two Vessels For APL

Neptune Orient Lines Ltd. (NOL) will charter two new large container ships for use by APL, its container transportation and logistics unit, according to company officials. Officials said APL will deploy the vessels, each with a capacity of 5,500 teu, in Asia-Europe trade. NOL said the two vessels, to be built at the Samsung Heavy Industries yards at Koje Island in South Korea, were scheduled to be delivered in mid-2001. NOL will charter the vessels from owner Greece-based Danaos Shipping Company for a period of five years or longer, bringing total NOL container capacity to about 215,000 teu.

08 Jul 2004

HRDD Records Busy Half Year

The uprising shipping market stimulated the ship repair business for yards all over the world in this two years, especially for the Chinese shipyards. The increase of shipping rate for cape size and panamax bulk carriers, particularly the raw material market, consequently caused the rise of ship repair material cost and labor cost. Even so, all the ship repair yards are fully booked by the rolling-in ship owners and managers. The records for the first half of 2004 by Huarun Dadong Dockyard (HRDD) illuminates this tendency too.

07 Jun 2006

Samsung Gets Orders for 14 Ships

According to reports, Samsung Heavy Industries Co., has received orders for 14 container ships worth $1.5 billion from three companies including Panama's Naviera Daniela SA and Greece's Danaos Shipping Co. Samsung Heavy will deliver the ships by November 2009, the said in a regulatory filing to the Korea stock exchange today. The orders today raise Samsung Heavy's total for the year to date to $6.9 billion, 90 percent of its 2006 target. The country's shipyards delivered 2.84 million compensated gross tons in the three months to March 31, 21 percent more than a year earlier. The companies are expected to deliver about 2 million compensated gross tons every quarter this year. Source: Bloomberg

07 Oct 2003

Investment in Design: Integrity in a New Era

As the first containerships officially credited with capacities topping 8,000-TEU, the series of newbuilds ordered at the start of the year by Vancouver-based Seaspan for long-term charter to China Shipping Group embodies a design, which has been the subject of the most thorough structural analysis. The boxship sector has always been characterized by a propensity for driving developments to the limits of technical possibility. Its outstanding structural safety record over the years is testament to the industry's unflagging efforts to ensure long-term vessel integrity in combination with advancing scale. The considered technical approach expressed in current projects in the 8…

21 Jun 2006

South Korea's Shipyards May Raise Prices

Bloomberg has reported that South Korea's seven shipbuilders, which delivered 38 percent of the world's vessels in 2005, said they may raise the prices of new ships to take advantage of record orders and protect their profits from rising costs. Carriers of containers, oil and minerals may cost about 5 percent more this year, said Hyundai Samho Heavy Industries company officials. Higher prices protect shipbuilders' earnings from the Korean won's gains against the U.S. dollar and shield them from steel costs that have risen 70 percent since 2003. A third year of rising ship prices add to the costs of Taiwan's Evergreen Marine Corp. and other shipping lines which carry an estimated 90 percent of global trade.