Contact Information: 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
Danaos Corporation Re-Charters the Norasia-Hamburg Ahead of 2008 Redelivery
| Source: Danaos Corporation
ATHENS, GREECE--(Marketwire - July 16, 2007) - Danaos Corporation (NYSE : DAC ) today
announced that it has signed an agreement with the United Arab Shipping
Corporation to time charter the 3,908 TEU Norasia-Hamburg for a period of
36 months. During the first 12 months of the charter, the charterer has the
option to convert the three-year charter to a five-year charter, at lower
rate. The charter will commence as of the date when the current employment
of this vessel ends in the first quarter of 2008. The Norasia-Hamburg is
currently on time charter with CSAV.
"We are very pleased to have arranged this charter with the United Arab
Shipping Corporation," said Dr. Coustas, Chief Executive Officer of Danaos.
"The specific combination of the rate and charter duration we have achieved
for our vessel is very attractive, underlining the fact that the charter
market has gained visible momentum during the first half of 2007. We
believe that this charter with the United Arab Shipping Corporation marks
the beginning of yet one more successful and long term chartering
relationship for Danaos. We are very happy to add the United Arab Shipping
Corporation to our diverse portfolio of customers at a time of high
economic growth and increasing trade volumes for the Gulf region."
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering
its vessels to many of the world's largest liner companies. Its current
fleet of 30 containerships aggregating 133,425 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 and market capitalization. Furthermore, the company has on order
28 additional containerships aggregating 147,524 TEU with scheduled
deliveries up to 2010. The company's shares trade on the New York Stock
Exchange under the symbol "DAC."
Visit our website at www.danaos.com