Danaos Delivers Second Vessel to APL

Danaos Corporation announced that during the course of the last week it delivered the vessel APL Scotland back to its charterer, APL, for a total price of $44.5m. Further, Danaos Corporation also announced that APL has declared their purchase option regarding the APL Belgium according to their existing agreement with Danaos. This represents the last out of the four purchase options APL had with Danaos. Danaos now expects to sell this vessel back to APL at the end of its charter on or about January 2, 2008 for a total of $44.5 million.