Danaos Corporation Secures Bareboat Charters for Two of its 6,500TEU Containership Orders and Expands Contracted Revenue to USD 4.2 Billion
Athens, Greece, May 24, 2007 – Danaos Corporation (NYSE: DAC) today announced that it has secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced today that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. LTD according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25.5 million to Danaos, while it expects to book a profit for this part of the sale of $15.7 million.