- Company orders two additional 7,165 TEU containerships for 2027 delivery.
- Newbuilds equipped with methanol fuel readiness, scrubbers, and AMP units.
- Total contracted cash operating revenues reach $3.6 billion.
Danaos Corporation (NYSE: DAC), a major player in the world of independent containership ownership, recently shared some exciting news: since their last earnings report, they’ve added a whopping $304 million to their contracted revenue backlog. This boost includes around $164 million from forward charter agreements for four of their existing vessels, plus about $140 million from charter deals for two newbuilding orders, each set for a five-year charter, reports Danaos.
Newbuilding Orders
In addition to this, Danaos has placed orders for two more 7,165 TEU containerships at the Dalian Shanhaiguan shipyard in China, with delivery expected in the third quarter of 2027. These new ships will be equipped with the latest eco-friendly technologies, such as:
- Methanol fuel readiness
- Open-loop scrubbers
- Alternative Maritime Power (AMP) units
- Compliance with IMO Tier III emission standards and EEDI Phase III
Contracted Cash Operating Revenues and Charter Coverage
Thanks to these developments, Danaos’s total contracted cash operating revenues have now reached $3.6 billion, based on the charter contracts they’ve finalised so far. The average remaining duration of these contracts is 3.9 years, weighted by the total contracted charter hire. For their container fleet, the contracted operating days charter coverage is nearly 100% for 2025 and 90% for 2026, including the newbuildings based on their expected delivery dates.
Fleet Expansion
As of this announcement, Danaos has 18 container vessels currently under construction, boasting a combined capacity of 148,564 TEU, which brings their total pro-forma fleet capacity to an impressive 620,041 TEU. Here’s a look at the anticipated vessel deliveries:
- 2025: 1 newbuilding
- 2026: 3 vessels
- 2027: 12 vessels
- 2028: 2 vessels
CEO Commentary
Dr. John Coustas, CEO of Danaos Corporation, said: “We are very pleased to announce the commissioning of two additional containerships that are at the forefront of new technology. With this new order, Danaos continues to solidify its position as one of the major players in the global containership market and takes yet another step towards fleet modernisation.
At the same time, we are also pleased to report the results of our recent chartering activity. With these significant additions to the contracted revenue backlog, we have further improved earnings and cash flow visibility.
We will continue to work to maximise our profitability and create value for our shareholders.”
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Source: Danaos
