Greek vessel owner Danaos Corporation announced the addition of two 9,200 TEU newbuild vessels to its orderbook. The company said it booked the newbuildings in December 2024 and expects to receive them in 2027.
In February, Danaos entered into a syndicated loan facility agreement for an amount of up to US$850 million in order to finance all of its remaining newbuilding container vessels, including the two additional recent orders.
The company’s remaining orderbook currently consists of 15 newbuilding container vessels with an aggregate capacity of 128,220 TEUs with expected deliveries of one vessel in 2025, three vessels in 2026, nine vessels in 2027 and two vessels in 2028. In the meantime, Danaos took delivery of six new container ships in 2024 and one in January 2025.
“All the vessels in our orderbook are designed with the latest eco characteristics, will be methanol fuel ready, fitted with open-loop scrubbers and Alternative Maritime Power (AMP) units 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 Danaos in a statement.
Meanwhile, the company has already secured multi-year charter arrangements for 13 of the remaining 15 newbuilding vessels, with an average charter duration of approximately 5.1 years weighted by aggregate contracted charter hire.
Danaos’ Financial Performance in 2024
The Greek shipping firm reported operating revenues of over US$1 billion for 2024, translating to a 4.2% year-on-year growth. Additionally, Danaos’ adjusted net income amounted to US$532 million, representing a decrease of US$35 million from the 2023 corresponding figures.
Danaos’ CEO Dr. John Coustas commented: “Our profitability remains consistent, and we are using our strong balance sheet to increase dividends, continue our share buyback program, and source opportunities to grow our company for the benefit of our shareholders.”
He added: “Our strategic focus remains on maintaining a robust financial position, securing long-term contracts for vessels coming off charter, and investing in modern, fuel-efficient container vessels to enhance our competitive position in the market. We are committed to delivering value to our shareholders through prudent financial management and strategic growth initiatives.”
