Danaos Orders Four Methanol-ready Containerships

Greek shipowner Danaos Corporation announced Monday that it has ordered four 7,200 TEU containerships from Daehan Shipbuilding in South Korea. The neo-panamax newbuilds are slated for delivery in the first half of 2024.

The vessels will be methanol fuel ready, will come with open loop scrubbers and will be built in accordance with the latest requirements of the International Maritime Organization (IMO) in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III, said New York-listed Danaos, one of the world's largest charterers of containerships.

“These vessels are at the forefront of new technology, come with the latest specifications on emissions requirements and are methanol ready. With this order Danaos continues to solidify its position as one of the major players in the containership market worldwide,” said Danaos CEO, Dr. John Coustas.

“The current world developments are pointing out to significantly elevated fuel prices in the future and bearing in mind the uncertainty of green fuel availability we are following a strategy of investing into the most fuel-efficient vessels together with scrubbers that will minimize the fuel cost while maintaining the option to modify the vessels into green methanol use when the fuel will be available,” Coustas said. “This strategy removes the risk of technical obsolescence while it delivers short and medium term benefits on the fuel cost front. Further the midsize segment is the one which is most underbuilt, and replacement will be required. We will continue to work to maximize our profitability and secure more accretive transactions with a focus on creating value for our shareholders.”