Danaos orders five container vessels with an aggregate price of $509 million
Danaos Corporation, one of the world’s largest independent owners of containerships, has added $616 million to its contracted revenue backlog and has added an extra five newbuilding containerships to its orderbook, according to the company's release.
The contract revenue backlog additions include approximately $203 million of forward two-year charter fixtures for nine of its existing vessels and approximately $413 million of charter fixtures for the new five newbuilding orders with an average charter duration of 4.8 years weighted by aggregate contracted charter hire.
The five newbuilding orders with an aggregate contract price of $509 million comprise of one additional 8,258 container vessel to be built at Yangzijiang shipyard in China expected to be delivered in 2027 and four 9,200 TEU container vessels to be built at Dalian shipyard in China, three of which have expected deliveries in 2027 and one vessel in 2028. All five vessels 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.
As a result of the recent activity, total contracted cash operating revenues, on the basis of concluded charter contracts through the date of this release, currently stand at $2.9 billion. The remaining average contracted charter duration is 3.1 years, weighted by aggregate contracted charter hire.
Contracted operating days charter coverage for the container vessel fleet is currently 99% for 2024 and 80% for 2025. This includes newbuildings based on their scheduled delivery dates.
During the second quarter of 2024 we have taken delivery of the first three newbuilding vessels, namely two 8,010 TEU vessels and one 7,165 TEU vessel.
Danaos Corporation is one of the largest independent owners of modern, large-size container vessels, with fleet of 70 containerships aggregating 442,278 TEUs and 16 under construction container vessels aggregating 129,819 TEUs. Danaos has recently invested in the drybulk sector with the acquisition of 10 Capesize drybulk vessels aggregating 1,760,861 DWT.
