SOURCE: Danaos Corporation

Danaos Corporation

September 29, 2009 16:05 ET

Danaos Corporation Takes Delivery of Its 42nd Containership Vessel

ATHENS, GREECE--(Marketwire - September 29, 2009) - Danaos Corporation (NYSE: DAC) announced that on September 28, 2009, it took delivery of one more containership, the CMA CGM MOLIERE, expanding its operational fleet to a total of 42 containerships aggregating 172,433 TEU.

The CMA CGM MOLIERE has a carrying capacity of 6,500 TEU, built at Sungdong Shipbuilding & Marine Engineering and was delivered on schedule. It is 300 meters long, 40 meters wide and has a speed of 25.60 knots (about 47 Km/h). The CMA CGM MOLIERE has already commenced its 12-year time charter at fixed rates immediately upon delivery.

"We are pleased to have taken delivery of our latest containership from Sungdong Shipbuilding & Marine Engineering," said Dr. Coustas, Chief Executive Officer of Danaos. "The vessel has already commenced its 12 year time charter with CMA CGM Line, one of the largest containership liner companies in the world. The vessel is chartered at an accretive fixed charter rate which provides Danaos with an effective hedge against market charter rate volatility. We now own and operate a fleet of 42 containerships which provides Danaos with strong cash flows to further support our growth."

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 42 containerships aggregating 172,433 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 27 additional containerships aggregating 211,450 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