Greek owner Danaos has continued to expand its dry bulk exposure by adding more capesize vessels to its already seven-strong fleet.
The John Coustas-led company, best known as a boxship tonnage provider, has snapped up two capes built in 2010 and 2011 for $52.8m. The vessels, identified as Jiangsu Steamship’s Xin Hang and Foremost’s Guo May, should be delivered in April and July 2024, respectively.
Danaos completed delivery of all its previous cape acquisitions in the fourth quarter of 2023, and CEO Coustas said the company will continue to explore “interesting opportunities” in this sector.
“The market for capesize vessels is showing unusual seasonal strength as Brazilian iron ore exports increase, the coal trade remains elevated, and demand for minor bulks like bauxite and agricultural commodities is following a global recovery. Recent stimulus measures in China aimed at supporting construction, infrastructure projects, and consumer demand is expected to keep demand steady as fleet growth begins to slow over the next two years,” he noted.
On the containership front, where Danaos currently has 68 vessels, the company revealed the addition of two methanol-ready 8,258 teu newbuilds to its orderbook, which now counts 12 vessels for delivery between 2024 and 2027.
