SOURCE: Danaos Corporation

March 12, 2007 16:05 ET

Danaos Corporation Takes Delivery of Containership, Expanding Its Fleet to 31 Vessels

ATHENS, GREECE -- (MARKET WIRE) -- March 12, 2007 -- Danaos Corporation (NYSE: DAC) today announced that it took delivery of the Norasia Integra (ex E.R. Auckland), a vessel it had already agreed to acquire. Norasia Integra is a 4,300 TEU containership and will commence its 12 year charter with the Yang Ming Group in May 2007, as it is currently under charter with Norasia. The 12 year charter will run at a daily rate of $27,800 for the first four years and at a daily rate of $26,300 for the remainder period.

Dr. Coustas, Chief Executive Officer of Danaos, commented: "The delivery of the 2004 built Norasia Integra is an accretive addition to our fleet, representing an investment of $61.75 million. After the delivery of the APL England to APL following the exercise of the call option APL had for this vessel, the addition of the Norasia Integra brings the number of our containerships to 31. With the delivery of two more bulk carriers to their new owners during the previous weeks, the Roberto C and the Maria C, Danaos is now essentially a pure play in the containership industry."

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 31 containerships aggregating 138,931 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 18 additional containerships aggregating 98,024 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

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