SOURCE: Danaos Corporation

January 08, 2008 17:31 ET

Danaos Corporation Arranges Three-Year Charter for Its 3,100 TEU Containership YM Milano

ATHENS, GREECE--(Marketwire - January 8, 2008) - Danaos Corporation (NYSE: DAC) today announced that it has signed an agreement with YML to re-charter the YM Milano, a 3,100 TEU containership, for a period of 3 years beginning immediately after its current employment starting July 2008 at an improved fixed charter rate. The vessel will trade in the Asia region.

"We are very pleased to have arranged this charter with YML, one of the largest liner companies in the world, with which we already have a longstanding relationship," said Dr. Coustas, Chief Executive Officer of Danaos. "The specific charter demonstrates that the charter market and the demand for containerships are still strong while with this re-chartering we have reached a charter cover for 2008 of almost 100%."

About Danaos Corporation

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 37 containerships aggregating 151,725 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 34 additional containerships aggregating 243,468 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC."

Visit our website at www.danaos.com

Contact Information

  • For further information please contact:

    Company Contact:
    Dimitri Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel: +30 210 419 6481
    E-Mail: cfo@danaos.com

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel. +30 210 419 6400
    E-Mail: coo@danaos.com

    Investor Relations and Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    New York
    Tel. 212-661-7566
    E-Mail: nbornozis@capitallink.com