Danaos Corporation Adds $304 million to Contracted Revenue Backlog and Orders Two Additional Containership Vessels Newbuildings

Core Insights - Danaos Corporation has added $304 million to its contracted revenue backlog and ordered two newbuilding containerships since its last earnings release [1][2] Revenue Backlog - The additions to the contracted revenue backlog include approximately $164 million from forward charter fixtures for four existing vessels and approximately $140 million from charter fixtures for the two newbuilding orders, each with a five-year charter duration [2] Newbuilding Orders - The two newbuilding orders consist of two additional 7,165 TEU container vessels to be built at Dalian Shanhaiguan shipyard in China, expected to be delivered during the third quarter of 2027. These vessels will be methanol fuel ready and designed to meet the latest eco characteristics and emission standards [3] Financial Performance - Total contracted cash operating revenues currently stand at $3.6 billion, with a remaining average contracted charter duration of 3.9 years. Contracted operating days charter coverage for the container vessel fleet is nearly 100% for 2025 and 90% for 2026 [4] Fleet Expansion - As of the date of the press release, the company has 18 container vessels under construction with an aggregate capacity of 148,564 TEU, while total pro-forma containership TEU capacity stands at 620,041 TEU. Anticipated vessel deliveries include one newbuilding vessel in 2025, three in 2026, 12 in 2027, and two in 2028 [5] Strategic Positioning - The CEO of Danaos Corporation emphasized the importance of the new orders in solidifying the company's position in the global containership market and advancing fleet modernization [5][6]