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.

Maritime Reporter November 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Krishnapatnam Port Wins Seatrade CSR Award

Widely recognized for excellence in Corporate Social Responsibility, Krishnapatnam Port Company Limited was declared winner of 2014 Seatrade Maritime Awards in

Tugboat Crew Missing After Collision

Five members of a tugboat crew are missing after a collision with a merchant ship about 9NM off Tanjung Gelang yesterday (30 October). One crew member was rescued by fishermen.

ClassNK Registered Al Kout Delivered to KOTC

Leading classification society ClassNK announced that it has completed work on the 165,178GT VLCC Al Kout, built by Daewoo Shipbuilding & Marine Engineering Co.

Finance

Royal IHC Bags Dredging Package Order

Royal IHC (IHC) has secured a new contract with the Chinese shipyard, Jin Hai Heavy Industrial Group, for the delivery of a dredging installation package for a trailing suction hopper dredger.

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Container Ships

APM Terminals Organizes CSR Initiatives Under ‘I - Care’

APM Terminals Inland Services, South Asia continues to rollout its “I- Care” CSR master plan to help local communities in India improve their quality of life. Eye

Asia-Euro Box Rates Jump 88 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 88.2 percent to $1,312 per 20-foot container (TEU) in the week ended on Friday,

Seaspan Receives 5th 10K TEU Boxship

Seaspan Corporation announced yesterday that it accepted delivery of a 10000 TEU containership, the MOL Brightness.   The new containership, which was constructed

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1050 sec (10 req/sec)