SOURCE: Danaos Corporation

Danaos Corporation

October 12, 2010 08:30 ET

Danaos Corporation Adds One More Newly Built Vessel to Its Fleet

ATHENS, GREECE--(Marketwire - October 12, 2010) -   Danaos Corporation (NYSE: DAC), a leading international owner of containerships, announced that on October 11, 2010, it took delivery of one more newly built containership, the Hanjin Versailles, expanding its operational fleet to a total of 50 containerships aggregating 219,929 TEU.

The Hanjin Versailles, built at Hanjin Heavy Industries & Construction Co. Ltd. has a carrying capacity of 3,400 TEU, is 222.5 meters long, 32.2 meters wide and has a speed of 23 knots. The Hanjin Versailles has commenced its 10-year time charter at a fixed charter rate immediately upon delivery.

"We enthusiastically welcome our latest delivery," said Dr. Coustas, Chief Executive Officer of Danaos. "The Hanjin Versailles is the 50th containership in our fleet solidifying Danaos' position among the largest players in the industry and underlining the leadership position of our company. The ship is delivered at a time of a sharp recovery in the containership market with fundamental supply and demand trends pointing to even better times ahead for our industry. We believe Danaos is well positioned for take advantage of this opportunity with its large fleet of modern containerships and the additional 15 new vessels we expect to gradually integrate into our fleet during the next 18 months." 

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 50 containerships aggregating 219,929 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is one of the largest US listed containership companies based on fleet size. Furthermore, the company has a contracted fleet of 15 additional containerships aggregating 142,750 TEU with scheduled deliveries up to 2012. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

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Contact Information

  • For further information please contact:
    Company Contact:
    Dimitri J. Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel.: +30 210 419 6481

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel.: +30 210 419 6400

    Investor Relations and Financial Media
    Nicolas Bornozis
    Capital Link, Inc.
    New York
    Tel. 212-661-7566