Danaos Corporation reports Q2 and H1 results for the period ended June 30, 2013
Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended June 30, 2013, said in the company's press release.
Highlights for the Second Quarter and Half Year Ended June 30, 2013:
Operating revenues of $146.6 million for the three months ended June 30, 2013 compared to $146.7 million for the three months ended June 30, 2012, a decrease of 0.1%. Operating revenues of $292.7 million for the six months ended June 30, 2013 compared to $280.9 million for the six months ended June 30, 2012, an increase of 4.2%.
Adjusted EBITDA1 of $107.4 million for the three months ended June 30, 2013 compared to $106.7 million for the three months ended June 30, 2012, an increase of 0.7%. Adjusted EBITDA1 of $216.0 million for the six months ended June 30, 2013 compared to $203.2 million for the six months ended June 30, 2012, an increase of 6.3%.
Adjusted net income of $11.8 million, or $0.11 per share, for the three months ended June 30, 2013 compared to $16.2 million, or $0.15 per share, for the three months ended June 30, 2012. Adjusted net income1 of $25.7 million, or $0.23 per share, for the six months ended June 30, 2013 compared to $33.1 million, or $0.30 per share, for the six months ended June 30, 2012.
The remaining average charter duration of our fleet was 9.3 years as of June 30, 2013 (weighted by aggregate contracted charter hire).
Total contracted operating revenues were $4.6 billion as of June 30, 2013, through 2028.
Charter coverage of 88% for the next 12 months in terms of contracted operating days and 97% in terms of operating revenues.
