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Danaos seals ten new boxship charters worth $378m

NYSE-listed Greek boxship owner Danaos Corporation has entered into new charter agreements for 10 of its vessels, securing revenues of around $378m.

The charters cover one 8,500 teu vessel, three 3,400 teu vessels and six 2,200 vessels, with the charter periods ranging from three to four years.

Danaos says the new deals will commence as existing charters expire between January 2022 and August 2022. The charterers were not revealed.

John Coustas, CEO of Danaos, commented: “We are very pleased to have significantly increased our contracted backlog by securing multi-year charters for 10 of our vessels. Not only have we achieved charter coverage for 100% of our operating days in 2021, we have already contracted 89% of our operating days for 2022 and 60% for 2023. In the process, we have further enhanced our earnings and cash flow visibility, which will in turn result in further strengthening of our balance sheet. We will continue to work to secure additional charter extensions during the strong market environment in order to maximize our profitability and create value for our shareholders.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Comments

  1. News about Danaos shipping co. sealing charter agreements for 10 vessels worth $387 million is indeed encouraging news for the shipping industry as well as the global economy. It is a positive indicator that the evil hands of Covid-19 have not deterred the world from executing their business operations and commitments towardd development of the global economy.

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