Danaos Corporation (NYSE: DAC) today announced that it has ordered five 12,600 TEU containerships. All five Post Panamax containerships will be built by Hyundai Samho Heavy Industries and are expected to be delivered to Danaos gradually starting from January until August of 2011.
Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each, at accretive rates. The deal increases Danaos’ contracted fleet to 32 vessels with a total carrying capacity of 217,421 TEU or 150% of its current fleet.