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Net Finance Costs News

16 Dec 2016

No Operating Income from Hanjin Vessels: Danaos Corporation

Danaos Corporation reports its results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers. Danaos' CEO Dr. John Coustas says: "As a result of the bankruptcy, we did not recognize any operating revenues for the vessels that had been chartered to Hanjin during the quarter. As a result of the Hanjin bankruptcy we also recorded a write-off of $15.8 million, representing the outstanding charter hire owed to us by Hanjin as of June 30, 2016. Additionally, principally as a result of the effects of the cancellation of the Hanjin charters, the Company was in breach of certain financial covenants as at September 30, 2016 for which we have obtained waivers until April 1, 2017.

02 Aug 2016

Danaos Reports Strong 1H

Danaos Corporation today reported unaudited results for the period ended June 30, 2016. * Adjusted net income1 of $47.7 million, or $0.43 per share, for the three months ended June 30, 2016 compared to $38.0 million, or $0.35 per share, for the three months ended June 30, 2015, an increase of 25.5%. Adjusted net income1 of $94.9 million, or $0.86 per share, for the six months ended June 30, 2016 compared to $68.6 million, or $0.62 per share, for the six months ended June 30, 2015, an increase of 38.3%. * Operating revenues of $137.0 million for the three months ended June 30, 2016 compared to $141.5 million for the three months ended June 30, 2015, a decrease of 3.2%.

17 Feb 2016

Danaos' Performance Better

Danaos Corporation one of the world's largest independent owners of containerships, today reported unaudited results for the fourth quarter and the year ended December 31, 2015. * Adjusted net income1 of $47.2 million, or $0.43 per share, for the three months ended December 31, 2015 compared to $23.5 million, or $0.21 per share, for the three months ended December 31, 2014, an increase of 100.9%. Adjusted net income1 of $159.5 million, or $1.45 per share, for the year ended December 31, 2015 compared to $60.0 million, or $0.55 per share, for the year ended December 31, 2014, an increase of 165.8%. * Operating revenues of $143.3 million for the three months ended December 31, 2015 compared to $140.7 million for the three months ended December 30, 2014, an increase of 1.8%.

28 Jul 2014

Danaos Corporation 2Q and 1H 2014 Results

Danaos Corporation ("Danaos") (NYSE: DAC), a leading international owner of containerships, today reported unaudited results for the period ended June 30, 2014. *Operating revenues of $136.4 million for the three months ended June 30, 2014 compared to $146.6 million for the three months ended June 30, 2013, a decrease of 7.0%. Operating revenues of $271.9 million for the six months ended June 30, 2014 compared to $292.7 million for the six months ended June 30, 2013, a decrease of 7.1%. *Adjusted EBITDA1 of $99.0 million for the three months ended June 30, 2014 compared to $107.4 million for the three months ended June 30, 2013, a decrease of 7.8%.

23 May 2013

Oceanteam Offshore Vessels Fully Employed in Q1 2013

CSV North Ocean: Photo courtesy of Oceanteam Shipping

Oceanteam also says it continued its investment program in 2.000 / 4.000-ton modular carousel systems. Oceanteam Shipping sees strong market activity in both the Offshore Oil and Gas as well as the Renewable Energy Market for certain regions and the management expects this trend to continue. Oceanteam Shipping is confident, and has secured sufficient projects in both the Offshore Oil and Gas and the Renewable Energy Markets to maintain a high level of utilization of its assets and engineers.