Danaos Returns to Yangzijiang for Two More Methanol-Ready Containerships

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Greek shipowner Danaos Corporation has placed a $188.4 million order for the construction of two methanol-ready 8,258 TEU containerships at Yangzijiang shipyard in China, reports Offshore Energy.

Latest fleet renewal

The latest fleet renewal move brings the company’s orderbook to twelve ECO methanol-ready containership newbuilds with an aggregate capacity of 91,430 TEU.

The deliveries are spread across 2024 and 2027, with the latest two additions scheduled for the fourth quarter of 2026 and first quarter of 2027, respectively.

Danaos said that all of its ships under construction will be fitted with alternative maritime power units and built under the latest requirements of the International Maritime Organization. This means that they will meet Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III.

In February 2024, Danaos bought two Capesize bulk carriers built in 2010 and 2011 for $52.8 million. These vessels are expected to be delivered in April and July 2024, respectively, pushing the company’s Capsize capacity to 354,579 dwt.

Over the past three months, Danaos has bolstered its contracted revenue backlog by approximately $43 million, securing new charters for five container vessels within its fleet. This brings the total contracted cash operating revenues to $2.3 billion. The average remaining contracted charter duration stands at 3.0 years, weighted by aggregate contracted charter hire.

The company reported an adjusted net income for the last quarter of 2023 worth $136 million compared to $141.7 million a year earlier.

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Source: Offshore Energy