John Coustas-led shipping company Danaos Corp has expanded its activities in the newbuilding market, adding two more container ships to its already substantial order book.
The Greek listed company has announced that its current order book now stands at 16 vessels with a total capacity of 134,234 TEU.
This represents an increase on the 14 vessels with 115,834 TEU. According to shipbrokers, Danaos has ordered two container ships with a capacity of 9,200 TEU from a shipyard that is part of the China State Shipbuilding Corporation (CSSC).
Prices and delivery times have not been disclosed, but Greek shipbrokers estimate that comparable 9,000 TEU vessels currently cost around $102 million (€98.7 million) in the shipbuilding market.
Long-term charters for Danaos
Danaos has secured long-term charter agreements with a term of two to five years at attractive conditions for all newbuildings. As of Q3 2024, Danaos reported contractually secured revenues of € 3.2 billion, supported by concluded charter agreements. The average contract term of the fleet is 3.4 years, based on the total contracted charter terms. Danaos will publish its Q4 2024 results on February 10.
As one of the largest independent containership owners, Danaos operates a fleet of 73 vessels with a total capacity of 465,463 TEU. In addition, the company has acquired ten Capesize bulkers with a carrying capacity of 1.76 million tdw through secondary market purchases.
In an interview last year, Filippos G. Prokopakis, Chief Commercial Officer of Danaos, emphasized that the right ship size is crucial for newbuildings in order to position themselves successfully in the current market situation. (rup)
