Danaos Corp. Report Solid Performance Q1 2013 Report

MarineLink.com
Tuesday, July 30, 2013

Highlights for the company's Second Quarter & Half Year Ended June 30, 2013 are as follows:

  • Operating revenues of $146.6 million for the three months ended June 30, 2013 compared to $146.7 million for the three months ended June 30, 2012, a decrease of 0.1%. Operating revenues of $292.7 million for the six months ended June 30, 2013 compared to $280.9 million for the six months ended June 30, 2012, an increase of 4.2%.
  • Adjusted EBITDA1 of $107.4 million for the three months ended June 30, 2013 compared to $106.7 million for the three months ended June 30, 2012, an increase of 0.7%. Adjusted EBITDA1 of $216.0 million for the six months ended June 30, 2013 compared to $203.2 million for the six months ended June 30, 2012, an increase of 6.3%.
  • Adjusted net income of $11.8 million, or $0.11 per share, for the three months ended June 30, 2013 compared to $16.2 million, or $0.15 per share, for the three months ended June 30, 2012. Adjusted net income1 of $25.7 million, or $0.23 per share, for the six months ended June 30, 2013 compared to $33.1 million, or $0.30 per share, for the six months ended June 30, 2012.
  • The remaining average charter duration of our fleet was 9.3 years as of June 30, 2013 (weighted by aggregate contracted charter hire).
  • Total contracted operating revenues were $4.6 billion as of June 30, 2013, through 2028.
  • Charter coverage of 88% for the next 12 months in terms of contracted operating days and 97% in terms of operating revenues.

Danaos' CEO Dr. John Coustas commented:
Despite the ongoing challenging state of the containership market we are reporting yet another solid quarter with adjusted net income at $11.8 mil., or 11 cents per share and adjusted EBITDA of $107.4 million for the 2nd quarter of the year.


People & Company News

Global Fallout from Hanjin Collapse

When Hanjin Shipping, Korea's largest and one of the world’s top ten container carriers, filed filed for court receivership after losing the support of its banks,

Japanese Shippers Trim Fleets

The three big Japanese marine transport firms -  Nippon Yusen Kabushiki Kaisha (NYK Lines), Mitsui O.S.K. Lines and Kawasaki Kisen - are decreasing the number

MN100: Guido Perla & Associates, Inc.

The Company: With offices in the US, Brazil, Chile, China and Germany, GPA developed into an independent, full-service naval architecture and marine engineering

Finance

Global Fallout from Hanjin Collapse

When Hanjin Shipping, Korea's largest and one of the world’s top ten container carriers, filed filed for court receivership after losing the support of its banks,

Ship Finance 2016 Q2 Reveue Falls

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter.

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

Container Ships

Pivotal LNG, Carib Energy Reach Multi-Year Supply Deal

Pivotal LNG announced a multi-year agreement to sell liquefied natural gas (LNG) to Carib Energy LLC, a Crowley Maritime Corp. subsidiary. Crowley will transport and deliver LNG from the U.

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

APM Terminals to invest $70 mln in Port Elizabeth Terminal

The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015.  In 2014,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1817 sec (6 req/sec)