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 Recharters Three Containerships Expanding Its Fleet Charter Coverage to 100% for 2007
| Source: Danaos Corporation
ATHENS, GREECE -- (MARKET WIRE) -- March 8, 2007 -- Danaos Corporation (NYSE : DAC ) today
announced that it has signed an agreement with CMA-CGM to time charter
three containerships for a period of 36 months and at a net charter rate of
$ 22,950 per day. The charters will commence as of the date when the
current employment of these vessels ends in 2007.
Specifically, the 3,039 TEU Henry and the 3,045 TEU Independence are
currently on time charter with Wan Hai with expiration dates during the
second quarter 2007, while the 3,098 Victory I is currently under time
charter with Norasia with an expiration date during the third quarter 2007.
These are the only vessels in Danaos fleet which were becoming available
for rechartering in 2007 and following the above mentioned agreements
Danaos has secured 100% charter coverage for its fleet in 2007.
"We are pleased to further expand our long relationship with CMA-CGM, the
third largest liner company in our market and to secure 100% charter cover
for 2007," said Dr. Coustas, Chief Executive Officer of Danaos. "The rates
and charter duration we have achieved for these three of our vessels are
almost identical to the terms they were deployed so far, which underlines
the fact that the charter market is gaining some momentum after a period of
relative softness."
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 134,631 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
19 additional containerships aggregating 102,324 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